Jack Ma, founder of Alibaba Group Holding, on Friday visited the company’s campus in Hangzhou, capital of eastern Zhejiang province, in a show of support for the e-commerce empire he created a quarter of a century ago, according to employees. Ma’s visit was his first known trip back to to his hometown since March 2023, … Read more
Quebec’s Alimentation Couche-Tard started with one store in 1980. Now, the retailer stands a serious chance of taking over the largest operator of convenience stores in the world: 7-Eleven. Currently, 7-Eleven’s more than 84,000 locations across the globe are owned by Japanese retailer giant, Seven & i Holdings, which rejected an offer worth $38.5 billion … Read more
BlackRock, the world’s biggest asset manager, cut its support for shareholder proposals linked to environmental and social issues to a fresh low of 4.1% in the most recent annual general meeting season, it said Wednesday. Despite the number of environmental and social-related proposals increasing year on year to 493 from 455, BlackRock said most had been rejected … Read more
The company behind the 7-Eleven convenience store chain in Japan says it has received a takeover offer from Alimentation Couche-Tard Inc. Terms of the proposal by the Canadian convenience store company were not disclosed. In a statement, Seven & i Holdings Co. Ltd. said it has received a confidential, non-binding and preliminary offer from Couche-Tard to buy all … Read more
Corus Entertainment Inc. has filed a complaint with Canada’s broadcasting regulator alleging Rogers Communications Inc. is “engaging in predatory behaviour” to suppress potential competition. In a July 26 letter to the CRTC, posted online in redacted form this week, Corus vice-president and associate general counsel Matt Thompson asked for regulatory intervention to prevent a “significant … Read more
AFP Intel shareholders are suing the chipmaker after what they deemed a bungled decision, which led to the company’s stocks plummeting in just a single day. According to Reuters, shareholders alleged that Intel fraudulently concealed problems from them. Such problems led to the posting of weak results, laying off workers, and also suspending dividends. That … Read more
CrowdStrike has been sued by shareholders who said the cybersecurity company defrauded them by concealing how its inadequate software testing could cause the global outage on July 19 that crashed more than eight million computers. In a proposed class action filed on Tuesday night in the Austin, Texas, federal court, shareholders said they learned that … Read more
What if you invested in Nvidia 30 years ago, before it went public, and held on? Venture capitalist Mark Stevens is currently one of Nvidia’s top individual shareholders, second only to CEO Jensen Huang. He invested in the AI chipmaker in 1993 as a new partner at Sequoia Capital. Stevens has been on Nvidia’s board … Read more
Tesla shareholders voted Thursday to restore CEO Elon Musk’s record $44.9 billion pay package that was thrown out by a Delaware judge earlier this year, sending a strong vote of confidence in his leadership of the electric vehicle maker. The favorable vote doesn’t necessarily mean that Musk will get the all-stock compensation anytime soon. The … Read more
A Quebec judge is authorizing a class action from shareholders against Bombardier Inc. over claims that the plane maker presented a false picture of its financial situation in 2018, a turbulent year that saw its share price tank. The lawsuit alleges that Bombardier, then-CEO Alain Bellemare and then-chief financial officer John Di Bert failed to … Read more
