** Online luxury retailer Farfetch's founder José Neves is looking to take the company private after a troubled New York Stock Exchange listing, the Telegraph reported on Tuesday. ** RWE is open to talks about a potential divestment of its 25.1% stake in high-voltage transmission grid operator Amprion, its finance chief said on Tuesday, adding there was no need to take action as the group was satisfied with its investment. ** Hospital and pharmacy operator Aster DM Healthcare said it would sell its stake in its Gulf business to Alpha GCC Holdings for $1.01 billion as it looks to separate its businesses in India and the Middle East.
For the third trading day in a row, shares of Alibaba Group (NYSE: BABA) are sliding down, as investors continue to reckon with Alibaba's decision to not IPO its Cloud Intelligence Group (CIG) cloud computing and artificial intelligence (AI) business, but keep it in-house instead. This morning, Reuters reported that Alibaba is shuttering its quantum computing research lab (which was part of the AI effort) entirely and donating the equipment to Zhejiang University. Alibaba stock fell 2% through 11:30 a.m. ET in response.
Alibaba Health Information Technology said on Tuesday it had struck a HK$13.51 billion ($1.73 billion) deal to get the rights to certain services of Alibaba's marketing tool, a move it expects to improve its revenue and services to online stores. Alibaba Health said it would buy AJK Technology Holding Ltd from Taobao Holding Limited for a combination of cash and shares. Taobao is a unit of Alibaba Group Holding, the tech conglomerate that also ultimately controls Alibaba Health.