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Shares in Chinese e-commerce titan Alibaba tanked more than seven percent at the Hong Kong open Friday after the firm's surprise decision to call off part of its high-profile restructuring because of the US-China chip war. In a move that shocked investors, the Hangzhou-based tech giant said Thursday that US curbs on exports of advanced chips had forced it to call off the spinoff of its cloud computing arm. The firm's stock dived 7.13 percent soon after the starting bell in Hong Kong, tracking a collapse in its New York-listed shares. Washington has moved to bar the shipment to China of powerful chips, including those from California-based Nvidia, which are crucial to the development of artificial intelligence, on national security grounds. In one of its most wide-ranging restructurings, Alibaba said in March it planned to split the vast group into six distinct entities that would be able to separately pursue funding through public listings. But on Thursday, it called off the creation of its Cloud Intelligence arm in light of «the recent expansion of US restrictions on export of advanced computing chips». «We believe that a full spin-off of Cloud Intelligence Group may not achieve the intended effect of shareholder value enhancement,» the company said in its earnings release. «Accordingly, we have decided to not proceed with a full spin-off, and instead we will focus on developing a sustainable growth model for Cloud Intelligence Group under the fluid circumstances,» Alibaba said. Alibaba is a key player in China's expansive digital economy and the operator of a major online shopping platform. The Hangzhou-based group's performance is considered a barometer of domestic consumption, which has flagged in recent

Meta Platforms on Thursday launched two new AI-based features for video editing that could be used for posting to Instagram or Facebook. The first is called Emu Video and it generates four-second long videos with a prompt of a caption, photo or an image, paired with a description. The other is known as Emu Edit that allows users to more easily alter or edit videos with text prompts.

The crypto exchange giant Binance is hoping to corner the Japanese market by expanding its crypto pairing offerings by 13.

Advisors who are interested in growth, scale, practice management and margin expansion “absolutely have to attend” an upcoming webinar on turnkey asset management platforms.

One of the latest wrinkles in the Charles Schwab custody transition from TD Ameritrade’s system involves RMDs, and a lack of records for any that were taken this year before Sept. 5.

(Reuters) — IBM (NYSE:IBM) on Thursday said it had immediately suspended all advertising on Elon Musk-owned X after a report found its ad were placed next to content promoting Adolf Hitler and the Nazi Party.

NEW DELHI : Retailers across the board may suffer after the Reserve Bank of India barred the largest consumer goods financier Bajaj Finance from disbursing loans under two products. On Wednesday, RBI barred Bajaj Finance from lending under its two products—eCom and Insta EMI Card—citing non-compliance with digital lending guidelines. Several retailers that Mint spoke with said this move will significantly impact retailers—both online and offline.

NEW DELHI : Over the past few weeks, cinemas have been flooded with small-budget films that come with minimal marketing or audience anticipation, resulting in negligible box office returns. Titles such as Aankh Micholi, UT 69, Shastry Viruddh Shastry and Three of Us have made their way to theatres with audiences largely uninformed about their release.

NEW DELHI : Refurbished smartphones and no-interest financing schemes spread over two years became the clear demand drivers for retailers in last week’s Diwali sale, which were better than industry expectations, insiders said. The two factors combined to offer a silver lining for India’s smartphone sellers, even as organic demand for smartphones continued to remain tepid at best in the second-largest smartphone market in the world.

Warner Bros. Pictures' 'Blue Beetle' is set to debut on the Max streaming platform on Friday, November 17. Directed by Ángel Manuel Soto, the film features Xolo Maridueña in the lead role of Jaime Reyes, a recent college graduate.

ABC's The Golden Bachelor is proving just that with its heartwarming tale of 72-year-old Gerry Turner, a retired restaurateur and widower, on a quest to find love once again. The reality series, which has captivated audiences with its genuine and endearing storyline, airs on Thursdays at 8 p.m. ET. The show's premiere on September 28th garnered an impressive 4.36 million viewers, marking a nearly 50% increase from The Bachelor's January premiere. The overall success continued, with the series premiere amassing 7.7 million viewers over three days, the highest ratings for the Bachelor franchise in three years and an impressive 11.10 million viewers overall. For those eager to catch the heartwarming journey of Gerry Turner and the 22 women vying for his affection, here's a guide on how and where to stream The Golden Bachelor.

Instagram, iconic rapper Snoop Dogg, known for his long-standing love for cannabis, announced that he is officially quitting weed after years of being a cannabis connoisseur. The 52-year-old rapper shared a contemplative black-and-white photo, stating, «After much consideration & conversation with my family, I've decided to give up smoke. Please respect my privacy at this time.» Snoop Dogg's association with marijuana has been central to various business ventures, including edibles, weed strains, and a digital media platform dedicated to cannabis-related news. After announcing his decision to quit weed on Instagram, rapper Snoop Dogg's fans expressed their shock in the comments section of his latest post.

TikTok and Meta are filing legal challenges against new European Union rules designed to counter the dominance of digital giants and make online competition fairer by giving consumers more choice

Shares of Chinese e-commerce firm Alibaba Group Holding plunged as much as 10% in New York after it said Thursday it scrapped plans to spin off its cloud business because of uncertainties related to U.S. chip restrictions

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Prince Harry has distanced himself from a report suggesting that he would witness his mother's final moments in the concluding season of The Crown on Netflix. According to reports,' the Duke of Sussex will not stream the final season of Peter Morgan’s show due to the “sensitive nature” of its content.

how to formulate it. The platform for this will be ready in the next three-to-four months. However, it will require efforts to make sure all the heterogeneity is addressed," he added.

By Abhirup Roy and Peter Henderson

Investing.com -- U.S. Treasury yields fell on Thursday after new data showed that applications for unemployment aid jumped to their highest level in three months last week.

There’s a shift towards a non-AUM fee model for advisory services, according to financial planning workflow platform AdvicePay.