Finance

Uber co-founder sells 90% of stake in business

After his latest sale filed with the US Securities and Exchange Commission on 18 December, 43-year-old Kalanick still owns more than 8.2 million shares worth about US$250 million, which is less than 10% percent of his original stake.

Alibaba raised US$11 billion in Hong Kong trading debut

Alibaba Group CEO Daniel Zhang: “As a result of the continuous innovation and changes to the Hong Kong capital market, we are able to realise what we regrettably missed out on five years ago. Today, we realised what we said then: ‘When conditions allow, we will come back to Hong Kong.’”

Westpac CEO Brian Hartzer to stand down

Since the AUSTRAC scandal broke, the Westpac board held at least two board meetings with Australian Prime Minister Scott Morrison demanding the board show some accountability.