Ant Group has reached an agreement to restructure itself as a financial holding company, which would subject Jack Ma’s fintech giant to similar capital requirements and other restrictions that govern banks, Bloomberg reported. Under the arrangement with Chinese regulators, all of Ant’s businesses, including food delivery, would be folded into the holding company, the report said. The...
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How Activists Proved to be Salesforce’s ‘Superpower’
These corporate efficiency initiatives really work! Salesforce’s April-quarter earnings report Wednesday showed an operating profit of $412 million, a 5% margin, compared with $20 million a year earlier, which equated to a margin of 0.27%. The reason was lower expenses—research and development costs fell 8.4% while marketing expenses dropped 6.5%—even as revenue rose 11%. Cutting costs to lift...
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