Alibaba set for ‘big challenge’ as flamboyant chairman Ma departs

Alibaba set for ‘big challenge’ as flamboyant chairman Ma departs
SHANGHAI (Reuters) – Alibaba Group chairman Jack Ma will step down from the Chinese firm on Tuesday, leaving his handpicked successor a daunting task of steering the $460 billion juggernaut at a time when the market for its core e-commerce business has slowed sharply. As Ma, who turns 55 on Tuesday, holds centerstage at his farewell party in the 80,000-capacity... Read More

Words of Wisdom: Life Lessons with Salman Rushdie

Words of Wisdom: Life Lessons with Salman Rushdie
NEW YORK (Reuters) – Magic realism is a literary genre in which narrative is shot through with surreal, dreamlike, seemingly impossible moments. FILE PHOTO: The writer Salman Rushdie interviewed during Heartland Festival in Kvaerndrup, Denmark June 2, 2018. Carsten Bundgaard/Ritzau Scanpix/via REUTERS If famed author Salman Rushdie is a dean of the genre, perhaps it is not surprising that his... Read More

Tencent scraps plan to invest $150 million in Chinese education firm VIPKid: sources

Tencent scraps plan to invest $150 million in Chinese education firm VIPKid: sources
HONG KONG/BEIJING (Reuters) – Tencent (0700.HK) has shelved plans to invest about $150 million to lead a fresh fundraising round for a Chinese education firm VIPKid, two people familiar with the matter said, as Beijing moved to tighten oversight of online education platforms. VIPKid dismissed the news as untrue, while Tencent did not respond to a request for comment. According... Read More

Billionaire industrialist and conservative donor David Koch dies at age 79

Billionaire industrialist and conservative donor David Koch dies at age 79
FILE PHOTO: David Koch, executive vice president of Koch Industries, applauds during an Economic Club of New York event in New York, December 10, 2012. REUTERS/Brendan McDermid/File Photo WASHINGTON (Reuters) – Billionaire industrialist David Koch, a driving force behind conglomerate Koch Industries who as one of the world’s richest people became a major financier of conservative causes and political candidates,... Read More

Texas shale towns grapple with growth as oil-bust fears fade

Texas shale towns grapple with growth as oil-bust fears fade
ODESSA, TEXAS (Reuters) – In west Texas, the center of the U.S. oil boom, about 3,800 students at Permian High School are crammed into a campus designed for 2,500, with 20 portable buildings to help with the overflow. FILE PHOTO: A sign soliciting applicants is seen outside of a truck stop in Midland, Texas, U.S., February 13, 2019. REUTERS/Nick Oxford... Read More

Moneysaving 101: Four ways to cut college textbook costs

Moneysaving 101: Four ways to cut college textbook costs
(The writer is a Reuters contributor. The opinions expressed are his own.) FILE PHOTO: Books are piled-up in this illustration photo September 13, 2018. REUTERS/Thomas White/Illustration By Chris Taylor NEW YORK (Reuters) – While sky-high U.S. college tuition might be the headline number, here is a sneaky little figure that might surprise you: the cost of textbooks. “Atrocious,” said Kashif... Read More

China’s Tencent cautious after surge in quarterly profit

China’s Tencent cautious after surge in quarterly profit
HONG KONG (Reuters) – China’s Tencent Holdings (0700.HK), the world’s largest gaming company by revenue, warned on Wednesday of a difficult economic environment even as it reported a better-than-expected 35% jump in quarterly profit. FILE PHOTO: A Tencent sign is seen during the China Digital Entertainment Expo and Conference (ChinaJoy) in Shanghai, China August 3, 2018. REUTERS/Aly Song Growth in... Read More