Tag Archives: unit

By Tom Westbrook and Donny Kwok HONG KONG (Reuters) -Distressed developer China Evergrande will sell a half-stake in its property management unit to Hopson Development for more than $5 billion, Chinese media said on Monday, after both Evergrande and Hopson requested trading halts ahead of a major transaction. Once China’s top-selling developer, Evergrande is facing what could be one of the country’s largest-ever restructurings as a crackdown on debt leaves it unable to refinance $305 billion… Source link

Once again, Google is headed back to the drawing board to rethink its healthcare strategy. As first reported by Business Insider, the tech giant is dissolving its single, unified Google Health division, founded in 2018, in favor of a distributed approach to building health products. The head of the division, David Feinberg, is leaving the company, while an unknown proportion of Google Health employees will be sent to other teams at Google (like Search and Fitbit) to work on specific… Source link

Dive Brief: Google is dissolving its health division, Google Health, after three years as the head of the unit, David Feinberg, departs to become CEO of health IT vendor Cerner. Google is splitting its health projects and teams across several other divisions of the company, according to an Aug. 19 internal memo to employees from Jeff Dean, the head of Google’s research division, obtained by Insider. Alphabet’s Google created the Google Health division in 2018 to… Source link

(Bloomberg) — Intel Corp., the world’s biggest semiconductor maker, gave a lackluster third-quarter sales forecast, indicating its data-center chip business continues to suffer market-share losses in the face of stiffer competition. Sales in the current period will be about $18.2 billion, Intel said in a statement Thursday. That compares with average analyst projections of $18.3 billion. Adjusted gross margin, a measure of profitability, will be about 55%, the company said, and per-share… Source link

SASCHA STEINBACH/EPA-EFE/Shutterstock / SASCHA STEINBACH/EPA-EFE/Shutterstock The latest behemoth to enter the crypto space amid steady institutional interest is Citigroup, which officially launched a new business unit dedicated to the cryptocurrency and blockchain space, according to a memo obtained by The Block. See: As Cryptos Crash, Twitter is Drowning in MemesFind: If You Invested $1,000 in These Cryptocurrencies a Year Ago, Here’s How Much You’d Have Now The new unit, the Digital… Source link

Yahoo Japan Corp. said Tuesday it will sell a subsidiary that offers foreign exchange margin trading services to industry leader GMO Financial Holdings Inc. for 28.8 billion yen ($265 million), ending its involvement in the highly competitive space. Yahoo Japan is expected to complete the sale of all its shares in YJFX Inc. in September. YJFX will be renamed Gaika ex byGMO Inc., according to GMO, an industry leader by volume in retail foreign exchange margin… Source link

LONDON—Senior managers at Google artificial-intelligence unit DeepMind have been negotiating for years with the parent company for more autonomy, seeking an independent legal structure for the sensitive research they do. DeepMind told staff late last month that Google called off those talks, according to people familiar with the matter. The end of the long-running negotiations, which hasn’t previously been reported, is the latest example of how Google and other tech giants are trying to… Source link

SoftBank Group affiliate Z Holdings on Monday announced plans to invest ¥500bn ($4.7bn) and hire 5,000 AI engineers over five years after completing a merger with popular messaging app Line. By launching new services and creating synergies in businesses such as online advertising, the combined entity aims to generate ¥2tn in revenue and ¥225bn in operating profit by fiscal year 2023. The business plan is Z Holdings’ most detailed strategy yet in countering the growing… Source link

Bloomberg Haunted by 2008, China and U.S. Diverge on Stimulus Plans (Bloomberg) — The U.S. and China are pursuing divergent economic policies in the aftermath of the coronavirus recession in a role reversal from last time the world economy was recovering from a shock.One of the takeaways from the annual National People’s Congress under way in Beijing is a conservative growth goal, with a tighter fiscal-deficit target and restrained monetary settings. That’s a big contrast with Washington,… Source link

TOKYO — SoftBank Group affiliate Z Holdings on Monday said it will invest 500 billion yen ($4.7 billion) and hire 5,000 AI engineers over five years after completing a merger with popular messaging app Line. By launching new services and creating synergies in businesses like online advertising, the combined entity aims to generate 2 trillion yen in revenue and 225 billion yen in operating profit by fiscal year 2023. The business plan is Z Holdings’ most detailed strategy yet in countering the… Source link