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Alibaba announces surprise departure of ex-CEO
Alibaba announces surprise departure of ex-CEO
Business and Economy
by  AFP

Chinese e-commerce giant Alibaba has announced the surprise departure of former CEO Daniel Zhang, who had been set Monday to take charge of a key subsidiary as the firm undergoes a major restructuring. CEO Daniel Zhang was due to take charge of the firm's new cloud computing branch, now a separate entity, on Monday.

Most Asian markets in retreat as US inflation data looms
Most Asian markets in retreat as US inflation data looms
Business and Economy
by  AFP

Asian markets mostly fell Monday as investors turn their attention to a key US inflation report later in the week, hoping for a reading that will ease concerns about the Federal Reserve's interest rate plans. Traders have been in retreat over the past week after a string of readings suggested the economy and labour market remained resilient despite more than a year of monetary tightening.

US judge says 2008 bank fraudsters got off easy
US judge says 2008 bank fraudsters got off easy
Business and Economy
by  AFP

US officials took a victory lap last month to commemorate their response to the 2008 financial crisis, pointing to $36 billion in fines as proof that banks have been held accountable. The DoJ cited $36 billion in civil penalties as bringing accountability to "those who break the law and undermine the well-being of American families," said an agency press release.