Jack Ma leaves SoftBank board as record losses loom

SoftBank Group on Monday said that Jack Ma, the co-founder of Chinese e-commerce giant Alibaba, has resigned from its board, an announcement that came as the Japanese company said it was preparing to double the money it has spent on repurchasing its own shares. The dual announcements came just hours before SoftBank was set to […]

COVID-19: Saudi Binladin Group slashes jobs and pay to cut costs in half

Saudi Binladin Group cut jobs and reduced staff salaries as Saudi Arabia’s biggest construction firm navigates the fallout of the coronavirus pandemic. The Jeddah-based conglomerate put thousands of employees on indefinite, unpaid leave as it weighs options to lower costs by as much as 50%, according to people with knowledge of the matter. The group […]