What Makes Baidu (BIDU) a Top Pick for Asian Hedge Funds in the AI Race?
A deep restoration of the extreme crisis: Baidu and Geely paid several hundred million yuan in aftermath costs. Why has it always been the investors who contribute and bear the costs?
According to a report from Sina Technology by Zhou Wenmeng, the aftermath handling plan for Jiyue employees has finally been arranged. On December 19, a photo of the aftermath plan document for Jiyue employees was leaked. The document shows that Jiyue will provide departing employees with an 'N+1' economic compensation, and social insurance and provident funds will also be paid until December 2024. Additionally, a regulatory co-management Account will be established under the guidance and witness of relevant government departments to pay related expenses, with the funding provided by Baidu and Geely. Sina Technology learned from multiple insiders at Baidu and Jiyue that as of now, the funding paid to Jiyue by investors Baidu and Geely has reached several.
Baidu-Geely JV Reportedly Discloses Layoff Package After Clashes With Employees
The Dow barely ended its longest continuous decline in 50 years, Micron fell by 16%, the US dollar reached a two-year high again, and US bonds, oil, and Bitcoin all dropped.
U.S. stock market's other Indexes turned down towards the end, Tesla rose by nearly 4% before closing down, NVIDIA reached a high of 4%, and Micron Technology had its steepest decline in five years. The yield on the 10-year U.S. Treasury bonds briefly increased by nearly 10 basis points approaching 4.60%, close to a seven-month high, while short-term bond yields fell, with the 2/10-year yield spread at its widest in two and a half years. The Bank of England held rates steady, but more officials supported a rate cut, leading to a decline in the British Pound. The Governor of the Bank of Japan suppressed interest rate hike expectations, causing the yen to fall towards 158, and the offshore renminbi briefly dropped below 7.32 yuan to its lowest in 15 months. Bitcoin fell by 5%, approaching $0.096 million. Spot Gold rose by 1.6% before narrowing back below $2,600, while the futures silver fell by 5%, and U.S. crude oil fell below $70.
Top Gap Ups and Downs on Thursday: ACN, MU, VRTX and More
Overnight news: Crude Oil in the USA fell on Thursday. Trump supports the latest government spending plan from the House Republicans. Nike's revenue in the second quarter decreased by 7.7% year-on-year.
For more global financial News, please visit 7×24 hours real-time financial news. Market close: After ten consecutive declines, the Dow experienced a slight rebound. The Nasdaq and S&P 500 both fell for three consecutive days. On December 19, the top 20 trading volumes of US stocks: Micron's performance fell far below expectations, causing its stock to plummet by 16%. On Thursday, China Concept Stocks had mixed results; Li Auto rose by 2.6%, while Baidu fell by 3.1%. US WTI Crude Oil dropped on Thursday as the bleak economic outlook exacerbated concerns over supply surplus. International Precious Metals Futures generally closed lower, with COMEX Gold Futures falling by 1.63%. Major European stock indices collectively closed down, with the German DAX30 Index declining by 1.39%.
