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That should unlock value for weary shareholders, and please regulators and politicians keen to control strategic businesses. The restructuring will give each of Alibaba’s six businesses, which include its core commerce division, as well as cloud computing, games and logistics units, their own chief executive and board of directors. Investors promptly added nearly $23 billion, or 10%, to the New York-listed company’s market value, now at $250 billion, following Tuesday’s announcement. The $460 billion video-game giant also operates in sensitive areas like online media, cloud computing and mobile payments. Daniel Zhang will continue to serve as chairman and chief executive of Alibaba, which will follow a holding company management model, and concurrently serve as CEO of Cloud Intelligence.

HONG KONG, March 28 (Reuters Breakingviews) - In the biblical parable of the prodigal son, a repentant wastrel returns home to a forgiving and beneficent father. In China, Alibaba (9988.HK) founder Jack Ma's homecoming and rehabilitation appears to be part of an official campaign to revive flagging private sector investment. However, if officials believe the mere sight of Ma in public will revive business confidence, that hope has a whiff of desperation. Ma the prodigal entrepreneur has returned, but perhaps not for long. Shares of Alibaba rallied as much as 4% in Hong Kong following the SCMP report before closing flat at HK$85.25 on March 27.

HONG KONG, March 23 (Reuters Breakingviews) - Tencent (0700.HK) is sounding more like its normal self again. The combination of regulatory respite, a post-lockdown consumption bounce plus cost cuts have put the company in a sweet spot for 2023. Revenue in the three months to December inched up 0.5% from a year earlier, to $21 billion, reversing year-on-year declines from the previous two quarters. With 2022 firmly behind it, Tencent can put a spring back in its step. Shares of Tencent rose 4.7% to HK$364.00 during early morning trading on March 23.

Concerns that Chinese investors are buying overseas to make a quick profit at home are valid. Since last year, 11 Chinese companies have raised a combined $3.6 billion by selling GDRs on the Six Swiss Exchange, data from Dealogic show. Savvy punters with access to foreign funds can therefore make a quick and relatively risk-free profit by shorting the Chinese stock and buying the discounted GDRs. This helps explain why Swiss shares of Chinese companies barely trade. Since the launch of a China-Swiss stock scheme in 2022, 11 Chinese companies have raised a combined $3.6 billion, according to data from Dealogic.

HONG KONG, March 9 (Reuters Breakingviews) - European financial centres are rolling out the red carpet for Chinese companies. Its free-float market capitalisation of $1.9 trillion is just a tenth of the New York Stock Exchange, January data from the World Federation of Exchanges show. Yet as tensions between Washington and Beijing rise and Chinese companies in New York face the threat of delisting, traditionally neutral Zurich has become an attractive alternative. That removes the risk that overseas regulators will demand access to mainland companies’ books - the source of a lengthy spat between the U.S. Public Company Accounting Oversight Board and Beijing. Deutsche Börse (DB1Gn.DE), which operates Frankfurt’s stock exchange, is technically ready to launch the China-Germany Stock Connect, board representative Niels Tomm said in November.

The usually sleepy Ministry of Science and Technology will be tasked to help lead the country's efforts to reduce dependence on Western suppliers. Meanwhile, creating a National Data Bureau should streamline the myriad of regulations spanning cybersecurity, personal privacy and information transfer. The benefits of upgrading the science, technology and patent ministries are less clear. And despite China being the world's most prolific patent filer, 90% are low-value "trash", estimated one Chinese official in 2019. Other proposals from the State Council include creating a National Data Bureau to coordinate sharing and developing the country's data resources.

☆ American Girl enters the 1990s with a new set of 'historical' dolls from the not-so-distant past
▼ + stars: | 2023-02-24 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

American Girl announced its first set of twin dolls since the company's founding in 1986. The sisters are historical characters from the year 1999, and their accessories are a blast from the past. American Girl has produced historical characters from each decade of the 20th century. The latest additions to the historical characters have people speculating what a doll from the 2000s will eventually look like. American Girl has had a historical character for each decade of the 20th century, and a few dolls from the 19th century.

With Alibaba shares down 30% in one month, enthusiasm for China's return to normalcy is peaking early. The Alibaba chief executive also cautioned that January was a "challenging time" and that the company is keeping an eye on how the reopening develops. Alibaba has hit the limits of the reopening boon. Reuters GraphicsFollow @mak_robyn on TwitterCONTEXT NEWSAlibaba on Feb. 23 reported revenue of 248 billion yuan ($35.9 billion) in the three months to December, an increase of 2% year-on-year. Adjusted earnings rose 12% to 40 billion yuan.

Worldwide boy-band sensation BTS may be on hiatus, but refreshing new financial acts threaten to upend the world of K-pop, and perhaps South Korea. The battle over 28-year-old SM Entertainment, the $2.3 billion force behind Girls' Generation and EXO, is at heart a family feud. It helps, too, that K-pop has turned into one of South Korea’s strongest exports, thanks largely to “Butter” and “Dynamite” singers BTS. "We oppose all aggressive outside mergers and acquisitions, including Hybe," SM said in a statement, according to Reuters. Separately, internet conglomerate Kakao said on Feb. 7 it would acquire a 9.05% stake in SM via 112 billion won of new shares and 105 billion won of convertible bonds.

☆ China's tech giants are launching ChatGPT clones — and Beijing is watching closely
▼ + stars: | 2023-02-14 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

But announcements from China's biggest firms have not said they are working on all-encompassing platforms like the U.S.' ChatGPT, a move which could worry Beijing which heavily censors internet content. Chinese authorities have heavy control over internet content, often blocking sites or censoring content that does not sit well with Beijing. ChatGPT is not officially blocked in China but OpenAI does not allow users in the country to sign up. The fact that ChatGPT will answer questions on sensitive topics in China is likely a concern to Beijing's authorities. "ChatGPT poses some unique challenges for Beijing.

☆ Cincinnati sign Colombia defender Arias
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +1 min

Feb 9 (Reuters) - FC Cincinnati have signed Colombia defender Santiago Arias through the 2023 season, with an option to extend for an extra year, the MLS club said on Thursday. The 31-year-old, who recently played for Spanish second-tier side Granada on loan from Atletico Madrid, has joined Cincinnati on a free transfer, MLS said. "Santi brings an enormous amount of experience and ability to FC Cincinnati," Cincinnati General Manager Chris Albright said. Arias joined Atletico in 2018 after five years at PSV Eindhoven, where he won three league titles and two Dutch Super Cups. Arias has more than 50 caps and was part of the Colombia squad that finished third at the Copa America Centenario and also went to the 2014 and 2018 World Cup tournaments.

But unlike ICBC and its peers, Ant neither took deposits, nor piled risky loans onto its balance sheet. Free from the red tape that binds regular banks, the loans facilitated by Ant ballooned. Digital offerings accounted for half of overall consumer loans in China, Fitch Ratings calculated in 2021. Ant is set to become a licensed financial holding company, putting it under the close watch of China's main banking regulator. Beijing wants Chinese consumers to consume, so is likely to indulge controlled growth of consumer credit.

☆ Last-Minute Valentine’s Gifts (They’ll Never Know You Procrastinated)
▼ + stars: | 2023-02-06 | by ( ) www.wsj.com time to read: +6 min

Or choose a bouquet subscription to remind your valentine of you each time blooms arrive—get 10% off your subscription gift with code BUYSIDESTEMS. Masterclass has more than 180 courses to choose from, so you’re sure to find a great match. Lucky for last-minute shoppers, the candles are available online and for in-store pickup at Nordstrom, so you have time to swing by for one before Valentine’s Day arrives. If your valentine is a yogi, they may enjoy the cushiony, versatile mat that Buy Side named best overall yoga mat. Slippers make an easy Valentine’s Day gift like these unisex grippy slippers—recommended in our selection of best women’s slippers.

☆ Huawei turns to patents for a lifeline — including those in the U.S.
▼ + stars: | 2023-02-06 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +7 min

In 2022, Huawei announced it signed more than 20 new or extended licensing agreements for its patents. But the sheer number of patents filed meant Huawei ranked fourth last year by the number of patent grants in the U.S., IFI said. For Huawei, licensing its patents to other companies has the potential to claw back a bit of that revenue. Huawei did not break down specific figures, and only said it met its intellectual property revenue expectations for 2021. "I don't think they had a choice in terms of sort of boosting their licensing revenue."

HONG KONG, Jan 9 (Reuters Breakingviews) - Jack Ma is leading China’s consumer internet out of the sin bin. After his fintech champion Ant said its founder will cede control, shares in affiliate Alibaba (9988.HK), rose 7% in Hong Kong on Monday morning. The company on Saturday announced that Ma's 50%-plus voting stake will be whittled down to roughly 6%, and a fifth independent director will join the board. Follow @mak_robyn on TwitterloadingCONTEXT NEWSChinese financial technology company Ant on Jan. 7 announced its founder Jack Ma will give up majority control of the company as part of a broader "corporate governance optimization". Ma held more than 50% of voting rights in Ant via his investment vehicle, Hangzhou Yunbo, which effectively controlled two other entities that owned a combined 53.46% stake in Ant.

HONG KONG, Jan 5 (Reuters Breakingviews) - Western Digital (WDC.O) faces a daunting M&A challenge. Both outfits specialise in a type of memory chip called NAND flash, which is used in smartphones, computers and data centre servers. Yet even if the logic for a combination looks more compelling against this backdrop, the M&A hurdles Western Digital faced in 2021 are even more challenging today. The union between Western Digital and Kioxia will be a long slog, but worth it. Shares of Western Digital rose 7.7% to $35.63 during after-hours trading in New York on Jan. 4.

Foxconn, formally known as Hon Hai Precision Industry, is gearing up to supply cars, and the chips and batteries that go into them, to global marques. It sees automakers entrusting the company with production in Indonesia, Thailand, Saudi Arabia, the United States and beyond. Getting there requires Foxconn ditching a tried and tested business model. To make smartphones, the company relies on a few factories it owns in China and it has little say over the underlying supply chains and which components to use. Foxconn has also tied up with Ohio-based Lordstown Motors (RIDE.O) in the United States; its factory is already making electric pickup trucks and could start supplying to other American brands within a year.

☆ Final farewell: From Sidney Poitier to Pope Emeritus Benedict a look back at the influential figures who died in 2022
▼ + stars: | 2023-01-01 | by ( Associated Press | ) www.nbcnews.com time to read: +55 min

Other world leaders who died in 2022 include former Soviet leader Mikhail Gorbachev, who died in August. The final days of 2022 saw the loss of some exceptionally notable figures, including Pope Emeritus Benedict XVI. Here is a roll call of some influential figures who died in 2022 (cause of death cited for younger people, if available):___JANUARY___Dan Reeves, 77. A Cuban-born artist whose radiant color palette and geometric paintings were overlooked for decades before the art world took notice. A prolific character actor best known for playing villains and tough guys in “The Manchurian Candidate,” “Ocean’s Eleven” and other films.

☆ Celebrities, Leaders and Other Notable People Who Died in 2022
▼ + stars: | 2022-12-31 | by ( Wsj Staff | ) www.wsj.com time to read: 1 min

Madeleine AlbrightAs the first woman to serve as secretary of state, Ms. Albright presided over U.S. diplomacy in the aftermath of the Cold War. She died in March at age 84 after a bout with cancer. CZAREK SOKOLOWAKI/ASSOCIATED PRESS

☆ Privacy and crypto will likely lead tech policy under split Congress as hope for passing ambitious antitrust reforms dwindles
▼ + stars: | 2022-12-27 | by ( Lauren Feiner | ) www.cnbc.com time to read: +9 min

After what started as a hopeful year for tech policy, the 117th Congress is about to close out its term with many key efforts tabled. That's the case with privacy legislation, where a bill proposed this year gained bipartisan support, passing out of a House committee with a near-unanimous vote. The pair blamed the bills' failure to advance on intense lobbying efforts by the tech industry against them. One prominent bipartisan bill in the Senate would put the CFTC in charge. "But the importance of tech policy issues will still be strong."

HONG KONG, Dec 19 (Reuters Breakingviews) - America’s chip war against China will make only partial inroads in 2023. After unveiling sweeping new export restrictions in October, Washington appears to have successfully lobbied friendly governments including Japan and the Netherlands to join. Dutch Trade Minister Liesje Schreinemacher already said in November her government "will not copy the American measures one-to-one". Rival Nikon (7731.T) made sales of over 153 billion yen ($1.1 billion) in China, some 28% of total. In November, Dutch Trade Minister Liesje Schreinemacher confirmed the Netherlands was in talks with the U.S. government about new export restrictions.

☆ Celebrity and notable deaths of 2022
▼ + stars: | 2022-12-16 | by ( Dave Lucas | ) www.reuters.com time to read: 1 min

Madeleine Albright, 84, who fled the Nazis as a child in her native Czechoslovakia during World War Two then rose to become the first female U.S. secretary of state and, in her later years, a pop culture feminist icon, passed away in March. She was a...moreMadeleine Albright, 84, who fled the Nazis as a child in her native Czechoslovakia during World War Two then rose to become the first female U.S. secretary of state and, in her later years, a pop culture feminist icon, passed away in March. She was a tough-talking diplomat in an administration that hesitated to involve itself in the two biggest foreign policy crises of the 1990s - the genocides in Rwanda and Bosnia-Herzegovina. She once upset a Pentagon chief by asking why the military maintained more than 1 million men and women under arms if they never used them. REUTERS/FileClose

A combination of targeted subsidies and local demand will help. China's dependence on foreign suppliers for lithography machines, used to print patterns onto silicon wafers, light-resistant wafer coatings known as photoresists and other vital tools cannot be understated. A 2021 report found that Chinese chipmakers buy less than a fifth of their equipment by value from local suppliers and that the country has localised less than 8% of annual equipment demand. China's equipment specialists, such as little-known firms NAURA Technology Group (002371.SZ) and Advanced Micro-Fabrication Equipment (688012.SS), are probably too small to effectively absorb massive amounts of government funding anyway. The majority of the funds will be used to subsidise the purchase of domestic semiconductor equipment by Chinese chipmakers.

“Voter suppression was an issue, even if it wasn’t a completely successful issue,” Albright said. Albright said the “turnout was still pretty good for a runoff election,” although he acknowledged that “voter suppression” did affect some voters. … Showing up at the polls was more than beating voter suppression. It showed we care.”The robust Black vote also showed a level of erudition, Albright said, defying some myths that Black voters don’t understand, or thoroughly consider, the issues when voting. … So, Black voters overcame a lot — and showed they are smart voters, too.”

The Chinese pharmaceutical giant may revive a buyout of its 32%-owned traditional medicine arm listed in Hong Kong. The state-backed group's latest bid for China Traditional Chinese Medicine (0570.HK) looks generous. China TCM's woes are a stark contrast to mainland-listed rivals, including some with heavy exposure to drugs presented as fixes to Covid-19. Assuming some of that enthusiasm can rub off on China TCM, that makes Sinopharm's latest offer look like a steal. Follow @mak_robyn on TwitterloadingCONTEXT NEWSSinopharm is considering reviving a bid for China Traditional Chinese Medicine Holdings, Bloomberg reported on Dec. 7, citing people familiar with the matter.

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