News Highlights: Top Company News of the Day - Wednesday at 5 AM ET
January 24 2024 - 4:30AM
Dow Jones News
EBay to Cut Staff by 9%, Citing More Competition
The online marketplace will lay off about 1,000 full-time
employees, part of efforts to boost performance at a time of rising
competition and softer consumer spending.
United Puts Boeing on Notice. It's Looking at Other Jets.
United Airlines management expressed frustration with Boeing on
its fourth quarter earnings conference call on Monday.
SAP Launches AI-Focused Restructuring
SAP said it would undertake a roughly EUR2 billion restructuring
this year that will affect 8,000 jobs as it ratchets up its focus
on business-related AI.
Siemens Energy First Quarter Beats Forecasts
Siemens Energy forecast an underlying profit margin of between
negative 2% and positive 1% for the fiscal year, after it reported
preliminary first-quarter results that it said exceeded market
expectations.
Alibaba Shares Rise as Co-Founders Buy Stock
Alibaba Group shares rose on news that co-founders Jack Ma and
Joe Tsai bought about $200 million of the company's stock in the
latest quarter, giving the Chinese tech giant some welcome news
amid a monthslong slide.
Country Garden Seeks to Raise Over $500 Million in Asset Sales
Troubled Chinese property developer Country Garden Holdings is
seeking to sell a host of properties in Guangzhou city to raise up
to $534.5 million, amid its efforts to restructure billions of
dollars in offshore debt.
Shein Faces Scrutiny From All Sides. Its IPO May Hit Snags.
The online fast-fashion company is dealing with a range of
issues both in China and in the U.S.
Woodside Energy Merger Talks With Santos Reflect Asia LNG Expectations, CEO Says
Woodside Energy's pursuit of a combination with Santos to create
a global energy giant worth over $50 billion is a bet that demand
for liquefied natural gas will remain strong, said Chief Executive
Meg O'Neill.
Rio Tinto Inks Power Deal With European Energy for Giant Australia Solar Farm
Rio Tinto said it has agreed to buy electricity from the planned
Upper Calliope solar farm in eastern Australia to power its
Gladstone operations.
Netflix's Subscribers, Revenue Surge as It Cracks Down on Password Sharing
Netflix is ramping up its investments in live programming with a
deal for WWE wrestling rights, as it continues to add new customers
at a rapid clip. Shares rose about 8% after hours.
(END) Dow Jones Newswires
January 24, 2024 05:15 ET (10:15 GMT)
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