US stocks rose on Wednesday as waning fears of further turmoil in the banking sector whipped up investor appetite for finance and tech stocks. Wall Street’s S&P 500 index added 1.4 per cent in a broad-based rally led by the real estate, tech and consumer discretionary sectors.
Bloomberg Tesla's Chinese Rival BYD Defers US Debut For Now, Weeks After Reducing Shift Timings At China Plants BYD Co., Ltd. (OTC: BYDDF) (OTC: BYDDY) does not propose to foray into the U.S. passenger car market for now, founder Wang Chuanfu said. At a post-earnings briefing on Wednesday, the Chinese Tesla, Inc (NASDAQ: TSLA) rival said that its home market of China has already entered a "full-expansion phase" for new-energy vehicles. Recently, BYD reduced shifts at two auto assembly plants in
Alibaba Group Holding Limited's (NYSE: BABA) latest business restructuring sparks layoff fears among employees. March 28 reports suggested Alibaba will reorganize its businesses into six independently run entities: Cloud Intelligence Group, e-commerce under Taobao-Tmall, Cainiao's smart logistics operations, Local Services group, Global Digital Business Group, and the Digital Media and Entertainment Group. Each business unit will have to face the tests of market forces themselves, including the