By Josh Ye HONG KONG (Reuters) - Lingxi Games, Alibaba (NYSE:BABA) Group\'s video games arm, has told staff its leadership team will step down to make way for younger management, according to an internal memo. Since last year, Alibaba has focused on promoting younger people born after 1985 to management teams - a strategy it...
HONG KONG (Reuters) - A Hong Kong court adjourned a hearing to liquidate Chinese property developer Kaisa Group to April 29 after a bond trustee, instructed by a major group of dollar bondholders, replaced the original petitioner. The latest development came after Broad Peak Investment, which filed the winding-up petition in July in relation to...
By Scott Murdoch SYDNEY (Reuters) - China Evergrande (HK:3333)\'s liquidators have hired three law firms to advise on the troubled property giant\'s winding-up process, according to sources with direct knowledge of the matter. Global firm Clifford Chance and Hong Kong firms Tanner De Witt and Karas So were mandated recently to provide legal advice on...
NEW YORK - Yext, Inc. (NYSE:YEXT), the leader in digital presence for multi-location brands, reported a robust fourth quarter, surpassing analyst expectations with an earnings beat. The company announced an adjusted EPS of $0.10, outperforming the consensus estimate by $0.03. Revenue also exceeded forecasts, coming in at $101.1 million against the anticipated $100.25 million. This...
By Akash Sriram and Stephen Nellis (Reuters) -Apple escalated its feud with Epic Games on Wednesday, blocking the Fortnite video-game maker from launching its own online marketplace on iPhones and iPads in Europe. The two companies have been in a legal battle since 2020, when the gaming firm alleged that Apple (NASDAQ:AAPL)\'s practice of charging...
By Patrick Wingrove (Reuters) - The Feb. 21 ransomware hack at UnitedHealth Group (NYSE:UNH)\'s Change Healthcare (NASDAQ:CHNG) technology unit, which processes insurance claims and payments for the industry, has disrupted healthcare across the United States. The Change unit processes about 50% of medical claims in the U.S. for around 900,000 physicians, 33,000 pharmacies, 5,500 hospitals...
Trevena Inc . (NASDAQ: NASDAQ:TRVN), a biopharmaceutical company, is confronting the risk of being delisted from the Nasdaq Capital Market after failing to meet the minimum bid price and stockholders\' equity requirements. The company\'s common stock has been closing below the $1.00 minimum bid price for over 30 consecutive business days, which is against Nasdaq\'s...
OAKLAND, Md. - First United Corporation (NASDAQ: FUNC), a financial services provider, announced a cash dividend of $.20 per share, scheduled for payment on May 1, 2024. Shareholders on record as of April 17, 2024, will be eligible for the dividend. As the parent company of First United Bank & Trust, First United Corporation operates...
NEW YORK - American Express Company (NYSE: NYSE:AXP) has announced an increase in its quarterly dividend, a move that aligns with the company\'s previously disclosed financial strategy. The board of directors has approved a $0.10 hike, which translates to a 17% rise in the dividend on common stock. This increase raises the payout to $0.70...
Sarcos Technology (NASDAQ:STRC), a robotics company, announced the appointment of Trevor Thatcher as its new Chief Financial Officer (CFO), effective Monday. The transition comes as Andrew Hamer, the previous CFO, agreed with the CEO, Benjamin Wolff, that it was the right time for a change in the company\'s financial leadership. Hamer\'s employment with Sarcos will...