Tsai bought about $151 million worth of US-traded Alibaba shares in the fourth quarter, Through its Blue Pool Management family investment vehicle, a filing securities Confirmed on Tuesday. Ma, who stepped down as executive chairman of the company in 2019 but remains a major shareholder, bought $50 million worth of stocks traded in Hong Kong in the quarter, according to a person with knowledge of the matter. (Both men already own large amounts of Alibaba stock.)
The size of the purchases isn’t huge – Alibaba’s market capitalization is about $171 billion – but given who is buying, investors and policymakers are likely to keep a close eye on them. Alibaba itself bought back $9.5 billion worth of stock last year, reducing its share count by more than 3 percent.
Alibaba has gone through difficult times in recent years. The company and Ant were among the first to be hit by a sweeping crackdown on the tech industry, which largely wiped out $1.1 trillion Market capitalization by sector. In 2020, Ant was forced to call off its potentially record-breaking IPO, a surprise move that was widely interpreted as regulators imposing dominance over private enterprise. Chinese authorities later imposed a $2.8 billion antitrust fine on Alibaba.
Last year, Alibaba canceled efforts to spin off its cloud business, a key part of the company’s ambitious plan to overhaul itself, leading to a massive selloff in its shares. Officials blame U.S. efforts to restrict semiconductor sales in China, though analysts say cloud businesses are also losing market share to state-backed rivals.
Stock buying will likely bring attention back to Ma, A former English teacher who helped launch Alibaba as an e-commerce platform. In China he was celebrated as an icon of entrepreneurship, but Beijing attacked him for criticizing official policy. Ma, who has not held a management role at Alibaba or Ant for years but remains a lifelong partner in the Alibaba Partnership, now focuses largely on Bill Gates-style philanthropy,
Tsai, on the other hand, has maintained a high profile. A former corporate lawyer who also helped found Alibaba, he owns the NBA’s Brooklyn Nets and the WNBA’s New York Liberty.
Those keeping an eye on Ma saw him are attending Seen sitting next to Tsai and Tsai’s wife at a Nets game in Paris this month wearing — what else? – A Nets jersey and cap.
What’s going on over here
New Hampshire primary voters are heading to the polls. Nikki Haley claimed a narrow victory just after midnight, capturing all six votes in the town of Dixville Notch, but she has an overwhelming chance of defeating surging Donald Trump. The rise of the former president is making some Wall Street CEOs Question the wisdom of publicly opposing them,
The Fed’s inspector general cleared two former officials of improper trading. A report from the internal watchdog said Eric Rosengren, former president of the Boston Fed, and Robert Kaplan, former head of the Dallas Fed, did not violate any law or regulation With trades made in 2020, when the central bank moved to shore up markets during the coronavirus pandemic. But the report found that Kaplan and Rosengren, both of whom resigned in 2021, did not properly file disclosure forms and created the conflict.
Archer-Daniels-Midland’s stock fell amid the accounting investigation. After the company, shares of the agricultural giant fell by a record 24 percent on Monday. suspended its chief financial officerVikram Luther, and the company is investigating accounting practices at its nutrition unit after the SEC cut its earnings forecast after receiving a document request.
The president of Netflix’s film division is leaving. Scott Stuber, who helped make the streaming company a force in filmmaking by attracting directors like Spike Lee, Martin Scorsese and Jane Campion, is stepping down, the company said on the eve of Academy Award nominations. Stuber frequently clashed with Netflix co-CEO Ted Sarandos. The appointment of Bela Bajaria as chief content officer last year effectively put a management layer between Stuber and Sarandos.
Relationship between elections and economy
Stocks are at record levels, interest rates are expected to fall, jobs appear to be abundant — but none of this strong economic data is bolstering President Biden’s standing with voters. multiple surveys find him walking back The Republican front-runner in key states, Donald Trump.
Now, the White House is sending in the big guns to try to change the narrative.
Treasury Secretary Janet Yellen to visit the Midwest this week to talk Biden’s economic achievements, which also includes $1.2 trillion infrastructure legislation. And she is expected to take a dig at Trump’s economic record as president.
Yellen’s visit follows a high-profile speech on Monday by Lael Brainard, the president’s top economic adviser, who gave a positive outlook on how the administration’s policies have created jobs in disadvantaged communities.
Americans Are Feeling better about the economy. But those improved environments are well above the lows in the summer of 2022, when inflation reached a 40-year high. Prices have declined in recent months, but economists warn they could rise again. A biggest concern: Attacks by Houthi militia on commercial vessels in the Red Sea are driving up shipping prices, making goods and fuel more expensive.
Strong data is not translating into more support for Biden. Voters may focus on job gains and pay less attention to the US economy Growth compared to its largest trading partners, Instead, they are likely to focus on what they see in the shopping aisles. “The fact that price levels are higher than when Biden took office is something that voters are picking up on,” Ray Fair, an economist at Yale, told The Times.
Fair has been tracking how economic data affects voter behavior for years. Despite the recent surge in consumer sentiment, their latest model suggested that Democrats had a 50-50 chance of regaining the White House, and an equal chance of regaining the House. (These prospects are slightly better than what the surveys say.)
“In a way, it’s a barometer of how he’s performing in the race.”
-Christy Marvin, founder of research firm SPACInsider rising share price Digital World Acquisition Corporation, a cash-rich shell company that is planning to merge with Donald Trump’s social media platform. Shares in the digital world have more than doubled since Trump won the Iowa caucuses on January 15.
Businesses fall silent on reproductive rights
This year, on the 51st anniversary of Roe v. Wade, abortion is expected to be a hot-button topic, with both Democrats and Republicans planning to use the issue to boost support during the election campaign.
But experts say that despite the noise — or perhaps because of it — don’t expect businesses to speak out on the matter like before.
Companies Addressing Abortion as an Issue in 2022, After the Supreme Court overturned Roe in Dobbs v. Jackson Women’s Health Organization. As many states began banning abortion after the decision, hundreds of businesses Spoke with many people in support of continued access promise of additional profits For workers facing new restrictions.
The driving force behind such moves was the belief that abortion bans were bad for business. That position received support from a recent analysis by the Institute for Women’s Policy Research, which found that such limits cost the US an average of $173 billion per year in the private sector due to decreased labor force participation and women’s earnings, as well as increased turnover and absenteeism. Loss occurs. This is up from $146 billion in 2020.
One exception: About 50 companies joined a friend-of-the-court dispute in November in Texas, arguing that the restrictions on reproductive rights were “Bad for business” Harming efforts to recruit top talent and protect the health of employees.
This is part of a wider protest by business over public announcements, According to Judy Samuelson, founder and executive director of the Aspen Institute Business & Society Program.
Speaking out has become more risky, as conservative politicians take aim at companies for their stances on environmental, social and other cultural issues. (See, for example, his battle with Disney and Florida Governor Ron DeSantis.)
But Samuelson argued that the companies are working on the issue internally. Although much of the work is less discussed, they continue to support the measures better access to reproduction Health care.
Amer SportsThe owner of sports brands, including Wilson and Arc’teryx, expects to raise up to $1.8 billion and achieve a valuation of up to $8.7 billion in its IPO (Reuters).
Fossil-fuel distributor Sunoco agreed Buy NuStar Energy About $7.3 billion stockpiled for expansion in storage and pipeline operations. (WSJ)
Banks like Citigroup and Goldman Sachs are reportedly trying Win back loan customers From private-credit rivals. (Bloomberg)
best among the rest
Bernard Arnault’s two younger sonsThe head of LVMH will reportedly be named to the luxury group’s board, rekindling questions about who will be his successor as CEO (Bloomberg)
“The dubious climate benefits of soil overturning in a carbon sink(FT)
After visiting Auschwitz, Elon Musk said that he was “naive” about the dangers posed by anti-Semitism, but also said that he had so many Jewish friends that he was “Jewish by association”. (NYT)
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