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Exclusive: Barry Callebaut CEO left after high-level split over cocoa, sources say
Reuters· 2026-02-02 06:05
Core Insights - Barry Callebaut and its former CEO Peter Feld have parted ways following a clash regarding a proposal to separate the company's cocoa business from its chocolate operations [1] Company Summary - The separation proposal was a significant point of contention between the company's leadership and Peter Feld, indicating potential strategic shifts within Barry Callebaut [1]
Sanofi's genetic disorder drug shows mixed results in late-stage trials
Reuters· 2026-02-02 06:02
Group 1 - The core point of the article is that French drugmaker Sanofi's experimental treatment for a genetic disorder shows promise in a late-stage study for Gaucher disease, but did not meet the main goal in a separate trial [1] Group 2 - The treatment demonstrated potential effectiveness in patients with a specific type of Gaucher disease during the late-stage study [1] - However, the results from another trial did not achieve the primary endpoint, indicating challenges in the development process [1]
Alibaba to spend $431 million for Lunar New Year AI push as chatbot war heats up
Reuters· 2026-02-02 05:38
Core Viewpoint - Alibaba plans to invest 3 billion yuan (approximately $431 million) to attract users to its Qwen AI app during the Lunar New Year holiday, intensifying competition among China's leading tech companies [1] Group 1: Company Actions - Alibaba's investment of 3 billion yuan is aimed at user acquisition for its Qwen AI app [1] - The timing of this investment coincides with the Lunar New Year holiday, a significant period for consumer engagement in China [1] Group 2: Industry Competition - The announcement highlights the escalating competition among major tech firms in China as they vie for dominance in the AI sector [1] - The investment reflects a broader trend of increased spending by tech companies to enhance their AI offerings and attract users [1]
BYD leads Chinese automaker selloff on weakening sales
Reuters· 2026-02-02 01:52
Core Viewpoint - Shares of BYD Co Ltd experienced a significant decline, reaching their lowest level in over a year, which contributed to a broader selloff in the Chinese automotive sector due to weaker sales reported in January [1] Group 1: Company Performance - BYD Co Ltd's stock price fell sharply, indicating investor concerns regarding the company's sales performance [1] - The decline in sales was attributed to a revised subsidy scheme that impacted the overall market dynamics for electric vehicles in China [1] Group 2: Industry Impact - The broader Chinese automaker stocks faced a selloff, reflecting a negative sentiment across the industry following the sales report [1] - The weaker sales figures in January may signal potential challenges for the Chinese automotive market, particularly in the electric vehicle segment [1]
Disney board close to picking parks chief D'Amaro as next CEO, Bloomberg News reports
Reuters· 2026-02-02 01:01
Core Insights - The board of Walt Disney is nearing a decision to promote Josh D'Amaro, the chairman of the theme-park division, to the position of chief executive officer [1] - A vote to appoint a new leader is expected to take place next week [1] Company Developments - The potential promotion of Josh D'Amaro indicates a strategic move within the company to strengthen leadership in the theme-park division [1] - The timing of the vote suggests that the company is looking to solidify its executive team amidst ongoing challenges in the entertainment industry [1]
Hyundai Motor did not exercise option to buy back Russian auto factory
Reuters· 2026-02-02 00:33
Core Viewpoint - Hyundai Motor has decided not to exercise a buyback option for its former manufacturing plant in Russia due to the ongoing war in Ukraine [1] Company Summary - The decision reflects the company's strategic response to geopolitical tensions and operational challenges in the region [1]
Oracle plans to raise $45 billion to $50 billion in 2026
Reuters· 2026-02-01 23:40
Core Viewpoint - Oracle expects to raise between $45 billion and $50 billion by 2026 to enhance its cloud infrastructure capacity for customers [1] Summary by Relevant Categories - **Financial Projections** - Oracle anticipates raising $45 billion to $50 billion in 2026 [1] - **Strategic Initiatives** - The funds will be utilized to build additional capacity for cloud infrastructure customers [1]
Oil prices fall by 3% on US-Iran de-escalation
Reuters· 2026-02-01 23:20
Core Viewpoint - Oil prices experienced a decline of 3% on Monday, influenced by U.S. President Donald Trump's remarks indicating that Iran is "seriously talking" with Washington, which suggests a potential de-escalation of tensions with an OPEC member [1] Group 1 - The drop in oil prices is attributed to geopolitical developments, specifically the dialogue between the U.S. and Iran [1] - The market reacted to the news of potential diplomatic engagement, reflecting investor sentiment regarding oil supply stability [1] - The situation highlights the interconnectedness of geopolitical events and oil market dynamics, particularly involving OPEC nations [1]
French tech company Capgemini to sell US unit linked to ICE
Reuters· 2026-02-01 10:59
Core Viewpoint - French IT company Capgemini announced the sale of its U.S. subsidiary Capgemini Government Solutions following pressure to clarify a contract signed with U.S. immigration authorities [1] Group 1 - Capgemini is divesting its U.S. subsidiary, indicating a strategic shift in its operations [1] - The decision comes amid scrutiny regarding a specific contract related to U.S. immigration [1]
OPEC+ agrees in principle to keep planned pause in oil output hikes for March, sources say
Reuters· 2026-02-01 10:45
Core Viewpoint - Eight OPEC+ countries have agreed in principle to maintain a planned pause in their oil output hikes for March, indicating a strategic decision to stabilize oil prices amid market fluctuations [1] Group 1 - The decision comes from three OPEC+ sources and is reflected in a draft statement seen by Reuters, highlighting the collaborative approach among member countries [1] - This pause in output hikes suggests a focus on managing supply levels to prevent oversaturation in the oil market, which could lead to price declines [1] - The agreement is part of ongoing discussions within OPEC+ to balance production levels and support global oil prices [1]