Chinese e-commerce juggernaut Alibaba Group said it will restructure into six business groups under a holding company. Each of the six units will have the flexibility to raise outside capital and seek its own initial public offering, Alibaba said. This is the biggest change in Alibaba’s corporate structure in the company’s 24-year history. The move comes as Alibaba, whose shares are listed in...
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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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