Heres the groups cfo. A slow but staple recovery continued to gain support. The longterm expectation of slow but steady growth remains intact. Emily citigroup posted its biggest quarterly profits as the financial crisis. First quarter net income jumped 21 to more than 4. 7 billion. Citis expenses dropped 10 . International Monetary Fund chief Christine Lagarde warns greece will not be allowed to skip a debt payment. She spoke to bloomberg. Ms. Lagarde we never had an advanced economy asking for delay payments. I hope this is not the case with greece. I would certainly not supported. Emily greek officials told creditors they might run out of money and miss a repayment to the imf. People said greeces latest payment did go through and the warning was just part of an ongoing discussion. Microsoft and yahoo have made some changes to their longterm search partnership. The update gives yahoo more flexibility over how it makes money from advertising. No longer requiring it to use microsoft to
About alibabas ability to up international revenue. Chairman jack ma Just Announced a hiring freeze. There are concerns about their relationship with the Chinese Government, which said they are saying alibaba is not doing enough to crack down fraud on the site. I spoke with the new Ceo Daniel Zhang, a former accountant, who went from cfo to coo and now ceo. I asked him what he plans to do differently and when alibabas Management Team will stabilize. Daniel we changed the leadership in our fields. We believe that today is the right time for us to bring the young generation to the leadership. As you know, alibaba this is a long journey. We need the young generation to participate in the leadership and lead the company to the next part of journey. Emily how will you bring more talent into the leadership and management roles . Daniel today if you look at our key Business Units and all the leaders are out of 1970s. Were also trying to bring more and more 1980s, 1985, 1990 young generations
Up 45 , and the company turned a 464 million profit. There are lingering concerns about alibabas ability to up international revenue. Chairman jack ma Just Announced a hiring freeze. There are concerns with their relationship with the Chinese Government, which said they are saying they are not doing enough to crack down fraud on the site. I spoke with the new ceo, daniel zhang, a former accountant, who went from c. F. O. To c. O. O. And now ceo. I asked him what he plans to do differently and when alibabas Management Team will stabilize. Daniel we changed the leadership in our fields. We believe that today is the right time for us to bring the young generation to the leadership. As you know, alibaba this is a long journey. We need the young generation to participate in the leadership and lead the company to the next part of journey. Emily how will you bring more talent into the leadership and management roles . Daniel today if you look at our key Business Units and all the leaders are
U. S. But europe playing catch up to yesterdays rally. The gains over there, about 1 . Pmis looked pretty good too. Oil settling back after rising 9 of the past 11 days. Tip years around 1. 91. The first rate hike shouldnt come until the second half of next year. The deal in delivery space. Fedex buying tnt express for 4. 8 billion. Thats a deal that u. P. S. Failed at just two years ago. We do have the ceo of fedex coming up in a couple of minutes. Speaking of deals, also the largest lbo of the year informatica taken private, 5. 3 billion. Samsung sees profits plunging 30 but still better than what the street was expecting, as apple ramps up the release of the apple watch coming in the next few weeks. First up fedex make ago move to boost its presence in europe. The company agreeing to acquire dutch Package Delivery firm tnt express for 4. 8. The deal comes two years after u. P. S. attempt was blocked by european regulators. Well talk with fedex chairman and ceo fred smith this hour.
Traders spent much of the morning waiting for speaker baner to emerge from the meeting with the House Republican s. He same out and said they made no decisions at all. Is it fair to say Speaker Boehner doesnt have the votes to get whatever they have on the table through the house . Yes. The situation is in flux right now and it was surprise because yesterday was all about the Senate Making progress, harry reid and Mitch Mcconnell on a plan that they were going to send to the house and count on the house to pass it. John boehner had a meeting with his caucus, came out, and when he spoke to cameras it was clear that caucus was badly divided. They arent sure which way to turn. There have been no decisions about what exactly we will do. Trying to find a way forward in a bipartisan way, that would continue to provide fairness to the American People under obama care. But the very fact that the house was considering passing a bill and sending it over was a blow to the talks between harry reid