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With that out of the way, Zhang is cleared to focus on Alibaba's massive corporate overhaul unveiled last month. Current shareholders will be left with a holding company led by Zhang, plus Alibaba's cash-cow Chinese commerce business. After all, Alibaba's U.S. shares are down over 60% in the past two years, while the S&P 500 has stayed largely flat. The sales will eventually reduce SoftBank's stake in Alibaba to 3.8%. In 2022, SoftBank booked a gain of $34 billion by cutting its stake in Alibaba to 14.6% from 23.7%.

☆ These are the 9 most expensive states to start a business—No. 1 isn't New York
▼ + stars: | 2023-04-13 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +4 min

Louisiana, the ranking's third-most expensive state, has the least amount of commercial space available per 100,000 people of any state. It also has a relative dearth of available talent: Louisiana is bottom three among all U.S. states in terms of labor force participation rate, at 69.2%, and only 26.4% of its post-college-age workers have at least a bachelor's degree. And the state's business environment appears to leave something to be desired. Its business survival rate of 0.54 is the country's fifth-worst, according to 2021 data from the U.S. Bureau of Labor Statistics. Something like labor force participation rate may be less obvious: Having a large population of eligible workers at your disposal can save you time and money when recruiting new employees.

☆ SoftBank-Alibaba sale looks awkward for Prosus
▼ + stars: | 2023-04-13 | by ( Liam Proud | ) www.reuters.com time to read: +4 min

LONDON, April 13 (Reuters Breakingviews) - SoftBank Group (9984.T) and Prosus (PRX.AS) are two very different beasts. Prosus owned about 27% of the internet titan on Wednesday, based on Refinitiv data and the company’s portfolio tracker. Prosus and van Dijk, however, have a rock-solid balance sheet with more cash than debt, and no particular need to exit Tencent in a hurry. That’s down from its peak last year, when the share price was considerably less than half the company’s net asset value per share. Prosus, the Amsterdam-listed technology investor, on April 11 said it would deposit 96 million Tencent shares into the Hong Kong Central Clearing and Settlement System, a precursor to selling them.

☆ Musk says unaware why Twitter India pulled posts on BBC documentary critical of Modi
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +2 min

In January, India ordered the blocking of a BBC documentary which questioned Modi's leadership during the 2002 Gujarat riots, saying that even sharing of any clips via social media was barred. The government had issued orders to Twitter to block over 50 tweets linking to the video of the documentary, Kanchan Gupta, an adviser to the government, had said. While the BBC had not aired the documentary in India, the video was uploaded on some YouTube channels, Gupta had said. "The rules in India for what can appear on social media are quite strict and we can't go beyond the laws of the country," he said. "If we have a choice of either our people go to prison or we comply with the laws, we will comply with the laws..." Musk said.

☆ BMW on track for 2023 target despite slight Q1 sales fall
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +2 min

[1/2] An electric-powered BMW iX xDrive 50 car is seen during a media preview at the Auto Zurich Car Show in Zurich, Switzerland November 3, 2021. By region, BMW only saw sales growth in the United States, with an 11.4% increase to 89,750 car sales. BMW remained confident about its 2023 guidance despite a "challenging business environment", the company said in a statement. "The BMW Group is on track for slight sales growth in the full year 2023," said Pieter Nota, management board member responsible for customer, brands and sales. Electric vehicle sales in BMW's core brand more than doubled in Q1 year on year to 55,979 units.

☆ I get paid by companies to find them job candidates. Here are my 9 best tips for increasing your odds of landing a job in a tough market.
▼ + stars: | 2023-04-10 | by ( Elisette Carlson | ) www.businessinsider.com time to read: +9 min

Before targeting recruiters, one needs to understand the two main types of executive search firms and recruiters. Contingency recruiters are paid after the search process when the client decides to hire one of the recruiter's proposed candidates. Retained executive search firms charge a consulting fee — paid as a monthly retainer or a percentage of the candidate's salary. I work with a retained search firm, and we are hired by companies, our clients, who pay us to find candidates. Below are nine tips to help candidates land a job by connecting with an executive search consultant without having to pay for anything.

The flow may be signalling a shift in sentiment among foreign investors who have been notably absent while China's markets and economy roared back to life after Beijing abruptly lifted its stringent zero-COVID policy in December. Alibaba's shares (9988.HK) are up more than 14% in the five days since the company's announcement and some 11.7 billion yuan ($1.7 billion) in foreign cash has flowed into China's markets. That's already more than the net 9.2 billion yuan in inflows in February and drove March flows to 35.4 billion yuan and the quarter's inflow to a record of 186 billion yuan. Premier Li Qiang assured foreign investors that China would unswervingly adhere to reform and opening up, expanding market access and optimising the business environment. Ernest Yeung, a portfolio manager at U.S. asset manager T. Rowe Price, anticipated "a gradual process of stabilisation" of private enterprises and the internet sector.

TOKYO/BEIJING, April 2 (Reuters) - Japan's foreign minister Yoshimasa Hayashi said he called on Beijing for the early release of a detained Japanese national during a meeting with Chinese diplomat Qin Gang held on Sunday. The visit comes a week after a spokesperson of Astellas Pharma Inc (4503.T) said its employee was detained in China for unknown reasons. Although Japan and China have their differences, both agreed to restart trilateral talks with South Korea, Hayashi said, calling the agreement "an important achievement" from his meeting with Qin. "We agreed to continue communicating closely on various levels, including the foreign ministerial and leadership levels," Hayashi added. Japanese Prime Minister Fumio Kishida and Chinese President Xi Jinping met on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit last November, marking the first leadership-level talks in almost three years.

☆ How your business can leverage email marketing for closer customer relationships
▼ + stars: | 2023-03-31 | by ( Sponsor Post | Created Insider Studios With Mailchimp | ) www.businessinsider.com time to read: +6 min

In pursuit of this goal, email marketing can be a valuable and lucrative tool for these companies to leverage. Email marketing can be an effective and lucrative marketing channel for many businesses, with a remarkable return on investment of $43.60 for every dollar spent, according to the Data & Marketing Association. Leverage an email marketing strategy that is content-infusedMany middle-market companies have established an active content strategy, but what some overlook is creating an email marketing strategy to boost that content. A good email strategy allows you to address your business goals with potential campaigns, timing, audience demographics, and promotional tactics to get more signups. The bottom line: Email marketing is a powerful marketing channel and should be a key component of any mid-market business's marketing strategy.

BOAO, China, March 30 (Reuters) - China is committed to opening up the world's second-largest economy and delivering reforms that can help stimulate growth, Premier Li Qiang said on Thursday, adding that geopolitical tension would only hold back development worldwide. China has set itself a modest target for gross domestic product growth of about 5% this year, after significantly missing its target for 2022. In particular, major economic indicators such as consumption and investment continue to improve, while employment and prices are generally stable," Li said. Another flashpoint in U.S.-China rivalry has been Taiwan, the democratically ruled island that China claims as its territory. In his speech, Li said "chaos and conflicts" must not happen in Asia and that China would act as an "anchor" for global peace.

☆ China's attitude towards developing stable, constructive Sino-US relations unchanged
▼ + stars: | 2023-03-25 | by ( ) www.reuters.com time to read: 1 min

SHANGHAI, March 25 (Reuters) - China's attitude towards developing a healthy, stable and constructive Sino-U.S. relationship remains unchanged, while it hopes the United States will stop using "unscrupulous means" to contain and suppress China, China's foreign minister Qin Gang said on Saturday. China hopes the two nations will work together to promote bilateral relations to overcome difficulties and return to healthy and stable developments, Qin said as he met U.S.- friendly organizations and business representatives in Beijing. Qin said China will continue to provide a better business environment for global companies, including U.S. firms. Reporting by Shanghai Newsroom Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

☆ US due diligence firm Mintz Group says staff detained in China after office raid
▼ + stars: | 2023-03-24 | by ( Michael Martina | ) www.reuters.com time to read: +3 min

WASHINGTON, March 23 (Reuters) - U.S. corporate due diligence firm Mintz Group said on Thursday its Beijing office was raided by authorities and five Chinese staff were detained, stoking worry among foreign companies in China just as its capital hosts an international economic forum. "We can confirm that Chinese authorities have detained the five staff in Mintz Group's Beijing office, all of them Chinese nationals, and have closed our operations there," the company said in an emailed statement to Reuters. "Mintz Group has not received any official legal notice regarding a case against the company and has requested that the authorities release its employees," the company said. 'RED ALERTS'As per Mintz Group's website, the Beijing office is its only one in mainland China. Western due diligence companies have gotten into trouble with Chinese authorities before.

☆ China to boost support for high-end manufacturing - Premier Li
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: +1 min

[1/2] Chinese Premier Li Qiang waves as he leaves a news conference following the closing session of the National People's Congress (NPC), at the Great Hall of the People, in Beijing, China March 13, 2023. REUTERS/Florence Lo/PoolBEIJING, March 22 (Reuters) - China will strengthen its policy guidance to support advanced manufacturing, Premier Li Qiang was quoted as saying by state radio on Wednesday. China will create a market-oriented, legal and international business environment and strengthen the policy guidance to support advanced manufacturing, said Li. Li visited the southern province of Hunan from March 21-22 and hosted a forum on the development of advanced manufacturing, according to state radio. Reporting by Liangping Gao and Ryan Woo; Editing by Toby Chopra and Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Russia's war in Ukraine is affecting countries around the world. Here's how ordinary Egyptians are feeling the consequences.
▼ + stars: | 2023-03-21 | by ( Sponsor Post | Created Insider Studios With Fcdo | ) www.businessinsider.com time to read: +6 min

Russia's illegal invasion of Ukraine has led to spiraling food prices worldwide, including in Egypt. Egyptians are paying a heavy price for Russia's war in Ukraine. Before the war, Ukraine and Russia typically supplied 85% of Egypt's wheat imports. These are not the only actions taken to mitigate the economic impact of Russia's invasion of Ukraine. Russia's war in Ukraine has triggered one of the country's most severe domestic crises.

Chinese Premier Li Qiang takes on the job at a challenging time. China’s new premier pledged to shore up growth and restore business confidence in the world’s second-largest economy, seeking to assure the world that Beijing can overcome domestic difficulties and diplomatic tensions that have buffeted his country in recent months. Li Qiang, at his first press briefing in his new government role, acknowledged China won’t find it easy to meet its relatively conservative target of expanding gross domestic product by about 5% this year, as the government focuses on delivering stable prices, creating jobs and supplying ample housing.

☆ Li Qiang: China's new premier tries to reassure private sector amid widespread concerns about future
▼ + stars: | 2023-03-13 | by ( Laura He | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —China’s new premier has tried to reassure the private sector in his debut press conference, as concerns grew about the country’s future policy direction with the introduction of a new cabinet loyal to leader Xi Jinping. Li Qiang, a long-time aide to Xi, officially succeeded Li Keqiang as premier over the weekend. Li Qiang speaks during his first press conference as premier at the Great Hall of the People in Beijing on March 13, 2023. As a group of Xi’s close associates stepped into office, some Western-educated, reform-minded officials departed – including former Premier Li Keqiang and former Vice Premier Liu He. Analysts are worried that Xi’s preference for personal loyalty over technocratic competence signals a more ideology-driven policy direction that could further dent private sector growth and worsen Beijing’s ties with Washington.

☆ Li Qiang becomes China's premier, tasked with reviving economy
▼ + stars: | 2023-03-11 | by ( ) www.cnbc.com time to read: +5 min

Li Qiang, likely to become the next premier, is pictured here speaking at a major annual financial conference in Shanghai in 2020. Li Qiang, the former Communist Party chief of Shanghai, took office on Saturday as China's premier, the country's No.2 post, putting the close ally of President Xi Jinping in charge of reviving an economy battered by three years of COVID-19 curbs. Li Qiang is the first premier since the founding of the People's Republic never to have served previously in the central government, meaning he may face a steep learning curve in the initial months on the job, analysts said. Still, Li's close ties with Xi - Li was Xi's chief of staff between 2004 and 2007, when the latter was provincial party secretary of Zhejiang province - will empower him to get things done, leadership-watchers said. "My reading of the situation is that Li Qiang will have a lot more leeway and authority within the system," said Trey McArver, co-founder of consultancy Trivium China.

☆ China's state planner tells Qualcomm VP it will provide good business environment for MNCs
▼ + stars: | 2023-03-10 | by ( ) www.reuters.com time to read: 1 min

SHANGHAI, March 10 (Reuters) - A representative from China's National Development and Reform Commission (NDRC), the country's top planning agency, met with a VP from Qualcomm Inc (QCOM.O) on March 7 to discuss Qualcomm's business in China, according to an NDRC statement on Friday. At the meeting, the NDRC said that China was willing to provide a first-class business environment for MNCs including Qualcomm to develop in China. Reporting by Josh Horwitz; Editing by Himani SarkarOur Standards: The Thomson Reuters Trust Principles.

☆ Silicon Valley investors and founders express shock over SVB's collapse, describe struggles to get money out
▼ + stars: | 2023-03-10 | by ( Jonathan Vanian Ashley Capoot Jordan Novet Annie Palmer | Jonathan Vanian | Ashley Capoot | ) www.cnbc.com time to read: +9 min

Nikolas Kokovlis | Nurphoto | Getty ImagesVenture capitalists and technology executives are scrambling to make sense and account for the potential repercussions of the sudden implosion of Silicon Valley Bank on Friday. The Federal Deposit Insurance Corp. said Friday that U.S. federal regulators shut down Silicon Valley Bank , the premiere financial institution for Silicon Valley tech startups for the past 40 years. On Friday, Yang returned to the Silicon Valley Bank branch 15 minutes before it opened to remove the remaining money. One person showed a tweet on their phone suggesting that bank employees had been instructed not to come to work. Watch: CEO's react to the closure of Silicon Valley Bank

☆ CNBC Daily Open: All eyes are on Jerome Powell
▼ + stars: | 2023-03-07 | by ( Jihye Lee | ) www.cnbc.com time to read: +1 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. He'll likely be asked how badly high interest rates have hurt the economy, as global markets face a slowing business environment. Moody's Analytics in a recent report said it may take 132 years for the world to close the gender pay gap. Subscribe here to get this report sent directly to your inbox each morning before markets open.

☆ CNBC Daily Open: Powell to speak in Congress – markets are mixed on expectations
▼ + stars: | 2023-03-07 | by ( Jihye Lee | ) www.cnbc.com time to read: +1 min

LONDON, March 2 (Reuters) - Drugmaker Viatris Inc (VTRS.O) warned on Thursday that it will stop selling some essential medicines in the UK that are already in short supply unless the British government makes changes to its voluntary medicines pricing agreement. If that level is exceeded, the government recoups the excess from suppliers of branded drugs. His colleague Viatris' Head of Europe Artur Cwiok named Germany and Portugal as countries where governments were weighing changes to drug pricing. If Viatris opted to leave that pricing scheme, it would have to pay a rate in the statutory scheme the government says will rise to 27.5%. Pharma companies AbbVie Inc (ABBV.N) and Eli Lilly and Co (LLY.N) withdrew from the pricing scheme in January.

☆ Meet the 4 men tipped to run China’s economy
▼ + stars: | 2023-03-01 | by ( Laura He | ) edition.cnn.com time to read: +8 min

Hong Kong CNN —The team of Communist Party officials running China’s economy is about to get a major makeover. They include the four men tipped to manage the world’s second biggest economy: Li Qiang as premier, Ding Xuexiang as executive vice premier, He Lifeng as vice premier and Zhu Hexin as the new central bank chief. That puts the 63-year-old in line to succeed Premier Li Keqiang when he steps down during the upcoming congress. Li would be the first premier since the Mao era not to have previously worked at the State Council, China’s cabinet, as vice premier, analysts say. Stringer/ICHPL Imaginechina/AP/FileThe 68-year-old would succeed Vice Premier Liu He, who led China’s negotiations with the United States during trade talks in 2018 and 2019.

☆ Nike, Adidas shoe supplier Pou Chen to slash 6,000 jobs in Vietnam -sources
▼ + stars: | 2023-02-21 | by ( ) www.reuters.com time to read: +2 min

The firm's Pouyuen Vietnam factory will cut 3,000 jobs this month and not extend labour contracts for another 3,000 workers later this year, the officials said, declining to be identified because they were not authorised to speak to media. The Pouyen Vietnam factory supplies global companies such as Nike Inc. (NKE.N) and Adidas AG (ADSGn.DE) and is one the biggest employers in Ho Chi Minh City, with 50,500 workers. Pou Chen shares fell 1.2% in early afternoon trade in Taiwan in a broader market (.TWII) that was down just 0.1%. Telephone calls to a factory labour union official were not answered. The plan to cut jobs marks a reversal for the company that in 2021 faced a labour shortage and manufacturing disruption in Vietnam due to the coronavirus pandemic.

☆ Japan manufacturers gloomy as global slowdown hurts - Reuters Tankan
▼ + stars: | 2023-02-21 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +3 min

The monthly Reuters Tankan, which closely tracks the Bank of Japan's (BOJ) key tankan quarterly survey, found the sentiment index for big manufacturers stood at -5 in February, little changed from the prior month's -6. The survey asks respondents whether the business situation is good, not so good or bad. "We have not been able to transfer rising costs of materials, gas and electricity to our customers. On top of that, wages are rising, all of which squeezes the business environment," a manager of a metal processing firm wrote in the survey. Japan's economy averted recession in the fourth quarter but rebounded much less than expected as business investment slumped.

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