China’s Alibaba Group announced a major reorganization of its international and domestic e-commerce businesses, while also appointing a new chief financial officer. The reshuffle comes after the company last month slashed its revenue guidance for the current fiscal year amid China’s slowing economic growth and Beijing’s harsh regulatory crackdown on the internet sector. Alibaba said Monday it...
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The Briefing startups uber/lyft
Oscar Health’s New CEO Has a Tough Job—but Lyft’s New CEO Has It Worse
Mark Bertolini must be feeling pretty good. Since he was named the new CEO of Oscar Health on Tuesday, Oscar’s long-suffering stock has bounced 78%. OK, skeptics will point out that bounce was off a very low base—the stock was at $3.59 on Monday. And even after the rally, Oscar stock is still down 84% from its initial public offering price. But any stock lift is better than the alternative,...
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