The long-awaited US economic slowdown has begun. Signs are piling up — in recent data, in warnings from

The New York Knicks are hoping to even their series with the Miami Heat in Game 4 on Monday night, but the Heat are favored at home after blowing the Knicks out in Game 3.I’m not sold on either side in this matchup, so why not bet on some props?Here are my three favorites for Game 4:...

Daniel Zhang, the former CEO of Alibaba, has stepped down from his position in the tech giant’s cloud division, in a move that has shocked industry leaders. The 51-one-year-old had taken charge of the cloud division just months ago. Since the announcement by Alibaba, the component stock dropped 3 per cent on Monday in Hong Kong. “The board of our company expresses its deepest appreciation to Mr Zhang for his contributions to Alibaba Group over the past 16 years,” Alibaba said in a statement. Eddie Yongming Wu will succeed Mr Zhang as the acting chairman and CEO of its cloud unit, according to the statement. Nearly three months ago, Mr Zhang quit as company chief and said that he wanted to take care of the spin-off of its cloud business. Now, as Alibaba announced his exit from the cloud division amid the biggest-ever restructuring of the company, Mr Zhang’s exit has come as a surprise to analysts. “We were surprised by the announcement,” Citi analysts wrote on Monday. “Mr Zhang may have wanted to step back from the public spotlight, in our view,” they added, according to CNN. The cloud division is currently estimated to be worth $41bn - $60bn. However, analysts said the reams of data it oversees puts it at risk of facing regulatory scrutiny from both domestic and international regulators. Alibaba split into six business groups – including cloud, e-commerce, logistics, media and entertainment – in March in a major restructuring. “Daniel has expressed his wish to transition away from his role as chairman and CEO of Cloud Intelligence Group,” Alibaba said in the letter. “Following careful consideration, the Alibaba board respected and accepted Daniel’s decision and appointed Eddie as acting chairman and CEO of Cloud Intelligence Group, effectively immediately.” Citi analyst Alicia Yap was quoted as saying by CNBC on Monday that “investors may be concerned that the timing and process of AliCloud’s spin-off may be affected”. She added that Citi will continue to monitor developments and that they are awaiting any new announcements. CNN reported that in an internal letter to employees, Joseph C Tsai, chairman of Alibaba Group, said that he and Mr Wu are looking forward to embracing “the next phase” of Alibaba’s development. “This past March, we embarked on our most ambitious reorganisation in Alibaba’s 24-year history – “1+6+N” – in order to position the company for the future,” he wrote on Sunday, referring to the company’s organisational structure after the restructuring – 1 holding company, six business groups and various businesses. “Under Daniel’s and our team’s dedicated efforts, the reorganisation is making steady progress while our business continues to grow.” Read More Chinese e-commerce giant Alibaba announces new CEO and chairman in major management reshuffle Chinese e-commerce giant Alibaba says it will not sell shares in Ant's buyback program Chinese livestreamers set their sights on TikTok sales to shoppers in the US and Europe How Google reshaped the world – and is about to do it all over again Update your iPhone immediately The new iPhone could be the most expensive ever by far

Scientists and tech industry leaders have issued a new warning about the perils that artificial intelligence poses to humankind

NEW YORK--(BUSINESS WIRE)--Aug 8, 2023--

'The Voice' Season 24, Episode 7 is the last of the blind audition episodes before NBC kicks off the Battle Rounds, which is set to air Tuesday at 9 pm ET

Meta will be forced to pay a record €1.2 billion fine over claims it abused its users’ data. The Irish Data Protection Commission said that Meta had broken the EU’s data protection rules by moving data between Europe and the US. It had failed to protect European users from having their data used under US law when it did so, regulators said. It will now be fined €1.2 billion, as well as being required to delete the Facebook data or move it back into Europe. That fine is easily a record under the EU’s General Data Protection Regulations, or GDPR. The previous record was held by Amazon – which was fine €746 million by regulators in Luxembourg – though the four biggest fines after that have been paid by Meta as part of data issues at Facebook, Instagram and WhatsApp. Meta called the fine “unjustified and unnecessary”, and said that it would appeal the ruling. It also said that there would be no immediate disruption to the way Facebook works. The company has repeatedly threatened that new limits on how data is transferred to the US could cause it to shut down Facebook and Instagram in Europe. Meta said in response to the new ruling that it will be able to continue to operate as it does today if a new data agreement between the EU and US is able to come into effect. Previously, data sharing between the US and Europe was governed by a framework called the “Privacy Shield”, which allowed that data to flow if US companies showed they were using proper data protections. In 2020, however, that was scrapped after the European Court of Justice said that it was not properly protecting data. Since then, lawmakers have been working on a new deal, known as the Trans-Atlantic Data Privacy Framework, though that is yet to go into effect. But lawmakers have indicated that it should be ready by October, when the deadline for Meta to delete the Facebook data at the heart of the fine is up. Read More Instagram back online after hours of global outages Instagram experiencing global outages Solar panel efficiency to increase 50% with first ‘miracle’ tandem cells

WESTON, Fla.--(BUSINESS WIRE)--May 18, 2023--

One of Vietnam's biggest automakers has made a big splash on its entry to Wall Street, pushing its market capitalization above that of industry giants such as Volkswagen and Ford.

Manchester City forward Phil Foden dropped to his knees and slid toward the away fans as he completed the scoring in the 191st Manchester derby

MLB All-Star Game: Texas Rangers players praise Bruce Bochy's leadership, Carlos Estevez takes step for Los Angeles Angels, and Spencer Strider dishes on why he keeps it simple with the Atlanta Braves.SEATTLE —As we get closer to the start of the MLB All-Star Game, let's empty th...

In echoes of Russian efforts, a pro-Beijing firm is finding new ways to push its narratives in the US.