Donald Trump and Alibaba founder to create '1 million' US jobs? Unlikely.
BEIJING — Jack Ma, the billionaire founder of Chinese e-commerce giant Alibaba, strolled into Trump Tower on Monday to talk to Donald J. Trump about a plan to create 1 million U.S. jobs — or that’s how they sold it. Trump’s incoming press secretary said the tycoons would discuss “how Alibaba can create 1 million U.S. jobs by enabling 1 million U.S. small businesses to sell goods into the China and the Asian marketplace.” For its part, the company pitched it as a certainty: “Alibaba,” it said ..>> view originalValeant to Sell Skincare Brands to L'Oréal
Valeant Pharmaceuticals Inc. agreed to sell three skin care brands including CeraVe to French cosmetics giant L’Oréal for $1.3 billion, the latest effort by the beleaguered drugmaker to unload assets and pare debt. The sale of the brands to L’Oréal follows swiftly on Valeant’s agreement on Monday to sell its Dendreon cancer business to Chinese conglomerate Sanpower for $820 million. The asset sales are part of new Valeant...>> view originalYahoo to change name to Altaba once Verizon buys brand and operations
reader comments 59 Yahoo, one of the Internet's most venerable companies, won't exist for much longer. Verizon confirmed plans to acquire Yahoo for $4.8 billion in July, and a new financial filing from Yahoo includes details of what's going to happen next. However, Verizon has promised that—if the increasingly bumpy buyout completes—the Yahoo brand will live on. July's proposed sale included the firm's operating business, but it didn't include the big chunk of Chinese e-commerce site Al..>> view originalStocks steady, oil in flux, sterling suffers 'hard' Brexit fears
SINGAPORE Asian stock markets rose on Tuesday while crude oil prices languished near three-week lows, with investors uncertain whether output cuts by some major exporters would be enough to offset increasing supplies from other producers.Sterling extended losses following its lowest close in three months on renewed concerns about a "hard" Brexit.European markets were poised for a lackluster start, with financial spreadbetter CMC Markets expecting Britain's FTSE 100 .FTSE, which touched a recor..>> view originalCandy maker Mars is buying LA animal hospital chain VCA for $7.7 billion
VCA Inc. has spent the last three decades consolidating chunks of the pet health industry into a leading chain of animal hospitals and diagnostic labs. Now the Los Angeles company has agreed to be bought for $7.7 billion by Mars Inc., which is best known for its candy but also owns a significant pet-care business. VCA operates nearly 800 animal hospitals and 60 diagnostic laboratories in the United States and Canada.The firm employs 23,000 people — including about 1,400 in the Los Angeles area..>> view originalVW executive who was in charge of US emissions rules is arrested
The Volkswagen executive who once was in charge of complying with U.S. emissions regulations was arrested during the weekend in Florida and accused of deceiving federal regulators about the use of special software that cheated on emissions tests.Oliver Schmidt, who was general manager of the engineering and environmental office for VW of America, was charged in a criminal complaint with conspiracy to defraud the U.S. government and wire fraud. Schmidt is the second VW employee to be arrested a..>> view originalSoftBank's Son Cedes to Murdoch as Top India Home Portals Merge
SoftBank’s Son Cedes to Murdoch as Top India Home Portals Merge by January 10, 2017, 3:24 AM EST Indian real-estate websites PropTiger.com and Housing.com are merging to create the country’s top portal for residential listings and property services, as Rupert Murdoch’s News Corp. boosts its investment in the growing sector while Masayoshi Son’s SoftBank Group Corp. scales back.REA Group Ltd., an Australian real-estate company controlled by News Corp., is p..>> view originalAlibaba Takes Big Step Offline With $2.6 Billion Intime Deal
Alibaba Takes Big Step Offline With $2.6 Billion Intime Deal Bloomberg News January 9, 2017, 6:15 PM EST January 10, 2017, 12:04 AM EST Alibaba Group Holding Ltd. is leading a bid to take department store chain Intime Retail Group Co. private for as much as $2.6 billion, as China’s largest online retailer deepens its integration with brick-and-mortar stores.The deal to buy out Intime adds to Alibaba’s burgeoning foothold in physical retail as it pursues g..>> view originalInside Rex Tillerson's Negotiating Style: Cozy With Power, Unbending and Theatrical
MOSCOW—In the spring of 2014, after the U.S. punished Russia with sanctions for seizing Ukrainian territory, Rex Tillerson made a major decision. The Exxon Mobil Corp. chief executive, now Donald Trump’s nominee for secretary of state, would deepen his company’s longstanding partnership with the Kremlin. During negotiations, the CEO of Rosneft, the Kremlin’s state-controlled oil company, looked over a proposed contract related to the pair’s operations off Sakhalin Island, in Russia’s Far East,..>> view originalFHA cuts insurance premiums on mortgages, saving average borrower hundreds
As rising interest rates make it more expensive for people to buy homes, the U.S. Department of Housing and Urban Development announced Monday that the Federal Housing Administration is reducing the insurance premiums people pay monthly on FHA mortgages.The annual premium that people will pay is dropping 25 basis points — from 0.85 percent of the value of the mortgage to 0.60 percent. The change goes into effect for people who refinance mortgages or buy homes with FHA loans on or after Jan. 27...>> view original
Tuesday, January 10, 2017
Donald Trump and Alibaba founder to create '1 million' US jobs? Unlikely. and other top stories.
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