Browsing Tag:billion

alibaba-faces-2-8-billion-fine-from-chinese-regulators
China announced on Saturday that it had fined e-commerce titan Alibaba a record $ 2.8 billion for monopoly business practices. This was the government's toughest move to date in its campaign to tighten regulation of the country's internet giants.Beijing's market watchdog began investigating Alibaba for possible antitrust violations in December, including preventing vendors from selling their goods on...
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credit-suisse-takes-4-7-billion-hit-from-archegos-hedge-fund-scandal
A Swiss flag flies over a Credit Suisse sign in Bern, SwitzerlandFABRIC COFFRINI | AFP | Getty ImagesCredit Suisse announced several senior executives leaving Tuesday and proposed cutting its dividend as it weighs the heavy losses from the Archegos Capital saga.The Swiss lender now expects a pre-tax loss of around 900 million francs (960.4 million US dollars)...
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gamestop-shares-cut-losses-after-the-reddit-favorite-plans-a-1-billion-stock-sale
John Smith | Corbis News | Getty ImagesGameStop shares trimmed their double-digit losses in volatile trading Monday after the video game retailer announced it was selling up to $ 1 billion in additional shares after a historic Reddit short squeeze.GameStop recently traded 3% lower at around $ 185 per share. Earlier in the day, the company...
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