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Alibaba’s Jack Ma says he’ll step down as chairman in September 2019. In accordance with succession plans previously announced by the company, Ma will be succeeded by Daniel Zhang, the company’s CEO.
Volvo has postponed its planned initial public offering. The decision comes amid uncertainty surrounding President Donald Trump’s trade war, as the Chinese auto giant Geely owns Volvo.
CBS CEO Les Moonves has officially left the company. A new report from The New Yorker on Sunday detailed accusations of sexual harassment and assault from six additional women against Moonves.
Snap’s chief strategy officer, Imran Khan, is leaving after three years with the company. His final day on the job has not been set, and he will help “assist with an effective transition of his duties and responsibilities,” Snap said.
A large hurricane is barreling down on the East Coast. It is expected to hit the Carolinas on Thursday morning and move further inland. The National Hurricane Center warned that it would most likely bring devastating storms and floods to those regions.
The world’s biggest stock bear warns of a recent shift that signals the next big crash is near. John Hussman, a former economics professor who’s now the president of the Hussman Investment Trust, provides the latest update to his long-running bear thesis.
Investors betting against JD.com made $US153 million after the company’s CEO was accused of sexual misconduct. Shares fell 14% last week after Liu Qiangdong was detained in the US over Labour Day weekend.
Brexit stockpiling could make a mini recession next year ‘almost inevitable’ for the UK. This would cause a short-term boost to UK gross-domestic-product growth, but it would be reversed after Brexit as businesses run down their inventories.
Stock markets around the world trade mixed. The Shanghai Composite (-1.2%) declined in Asia, while Germany’s DAX (+0.4%) led gains across Europe. The S&P 500 is set to open up 0.4% near 2,886.
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