China’s economy grew just 4% in the last quarter of the year—the slowest since 2020 as a property slump and new Covid outbreaks hurt consumer spending and undercut a strong first half of the year. The economy grew 8.1% for the year. The slowing growth creates a more challenging environment for China’s biggest consumer internet platforms such as Alibaba, Tencent and ByteDance. Clouding the...
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Sumo Logic Cuts Staff After Francisco Partners Takeover
Data analytics software company Sumo Logic made widespread layoffs this week, according to people familiar with the matter and an email to staff viewed by The Information, less than a month after private equity firm Francisco Partners bought the company for $1.7 billion. The exact size of the cuts couldn’t be learned. Chief Executive Joe Kim, who was named CEO three days after the...
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