Here's a roundup of the latest business news, from stock market shifts to surprising retail events.
Alibaba's Stock Faces Downgrade
Amidst the rising excitement surrounding DeepSeek AI, Alibaba's stock has received a downgrade to a "sell" recommendation. Analysts suggest caution for investors, citing factors that may be influencing this decision. The downgrade comes as a surprise to some given the positive buzz around AI developments in China.
Adding to the narrative, Alibaba founder Jack Ma has reappeared after a five-year absence from the public eye. Ma had largely disappeared after making comments critical of China in 2020. Writer Duncan Clark discussed Ma's return with NPR's Scott Simon, offering insights into the tech executive's long absence.
AI Trade Shifts to China
The landscape of the AI trade appears to be shifting. Recent stock market losses for US firms may be translating into gains for China. This suggests a potential move in the AI sector, with China emerging as a significant player. "It's fair to say recent stock market losses for US firms have been China's gain," according to one report.
Lego Larceny in California
In a more unusual story, a California man is facing charges after allegedly stealing $25,000 worth of Lego building toys. The heists occurred across multiple California counties. The alleged thief would quickly fill a shopping cart with the expensive toys and disappear into the parking lot.
Walgreens Considers Going Private
Walgreens, a major drugstore chain, may soon be acquired by a private equity firm for nearly $10 billion. This buyout would give the company more freedom to make strategic changes without the constant pressure of Wall Street's expectations. The acquisition is expected to provide Walgreens with more flexibility to improve its business operations.
These are just a few of the top business stories making headlines today. Stay tuned for more updates.