FINE1

Alibaba splits empire into six units, aims for IPOs

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March 28 (Reuters) – Alibaba Group (9988.HK) plans to split its business into six main units, from e-commerce to cloud in the largest restructuring in its 24-year history, five of which it says are fundraising whether to explore IPOs. The six units are Cloud Intelligence Group, Taobao Tmall Commerce Group, Local Services Group, Cainiao Smart … Read more

Shares of the First Republic are falling sharply as Yellen says the Treasury will not insure all deposits

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NEW YORK, March 22 (Reuters) – As the beleaguered First Republic Bank (FRC.N) weighs its options, Treasury Secretary Janet Yellen said on Wednesday there is no discussion on insurance for all deposits, creating a “bull case” scenario becomes more difficult for the stock. First Republic, whose shares have lost much of their value since the … Read more

FDIC to break up SVB, aim for separate private unit sales

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March 20 (Reuters) – The Federal Deposit Insurance Corporation on Monday decided to break up Silicon Valley Bank (SVB) and hold two separate auctions for its traditional deposit division and its private bank after failing to find a buyer for the failed bank last week found a lender. It will bid for Silicon Valley Private … Read more