{"id":40718,"date":"2026-03-29T03:10:32","date_gmt":"2026-03-29T03:10:32","guid":{"rendered":"https:\/\/www.europesays.com\/ch\/40718\/"},"modified":"2026-03-29T03:10:32","modified_gmt":"2026-03-29T03:10:32","slug":"nestle-alibaba-tesla-oxford-nanopore","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ch\/40718\/","title":{"rendered":"Nestl\u00e9, Alibaba, Tesla, Oxford Nanopore"},"content":{"rendered":"\n

The shares of consumer giant Nestl\u00e9 (NESN.SW<\/a>) lost ground on Tuesday morning after the company moved to dismiss CEO Laurent Freixe for not disclosing a romantic relationship with a subordinate.<\/p>\n

The maker of Nescafe drinks said in a statement that the dismissal was effective immediately.<\/p>\n

An investigation found the undisclosed romantic relationship with an employee violated Nestle\u2019s code of conduct.<\/p>\n

The dismissal comes exactly a year after Freixe assumed the position and a year after his predecessor Mark Schneider’s unexpected departure.<\/p>\n

Read more: Stocks fall and pound tumbles as UK 30-year bond yields hit 27-year high<\/a><\/p>\n

Freixe will be replaced by Philipp Navratil, a longtime Nestle executive.<\/p>\n

Nestl\u00e9 has weathered other top-level changes in the past months, with the resignation of longstanding chair Paul Bulcke, who intends to step down in 2026.<\/p>\n

Based in Vevey, Switzerland, Nestle has been facing headwinds like other food makers, including rising commodity costs and the negative impact of tariffs.<\/p>\n

It said in July it offset higher coffee and cocoa-related costs with price increases.<\/p>\n

Alibaba (BABA<\/a>, 9988.HK<\/a>) shares retreated on Tuesday in Asian trading hours, dipping following a meteoric surge in the previous session as investors cheered its success in generating revenue from AI.<\/p>\n

On Monday, the e-commerce giant’s stock had rallied 19% in Hong Kong, the biggest jump in a session in three years, following a triple-digit percentage gain in AI-relate revenue. It also reported a better-than-expected increase in sales in cloud computing.<\/p>\n

The company’s cloud revenue growth was one of its standout performances, climbing 26% compared with the previous year, largely fuelled by increased demand for AI-driven services.<\/p>\n

Stocks: Create your watchlist and portfolio<\/a><\/p>\n

Chief executive Eddie Wu described \u201cAI plus cloud\u201d as one of Alibaba\u2019s two core growth engines, alongside e-commerce.<\/p>\n

Several major brokerages, including HSBC (HSBA.L<\/a>), UBS (UBS<\/a>), and Jefferies, responded by raising their target prices for Alibaba stock to above $160.<\/p>\n

Shares fell 1.5% in Tuesday’s session as the wind came out of the rally.<\/p>\n

Tesla’s (TSLA<\/a>) stock dipped 3.5% before the US holiday weekend on Friday and looked set to continue losses when markets open on Tuesday as it reported lacklustre sales in India.<\/p>\n

The electric vehicle maker launched sales in the region in mid-July, but has only seen just over 600 orders since that push, according to a Bloomberg news report. Sources told the publication that the figure fell short of the company’s expectations.<\/p>\n

Read more: Stocks that are trending today<\/a><\/p>\n

Tesla (TSLA<\/a>) has also struggled to maintain momentum in Europe<\/a>, with competition from China’s BYD 1211 (1211.HK<\/a>) alongside backlash against CEO Elon Musk.<\/p>\n

Registrations of new Teslas in France were down 47.3% in August from August 2024, while the overall car market grew nearly 2.2%, data reported by Reuters showed on Monday. Tesla (TSLA<\/a>) registrations also dipped in Sweden, Denmark and Italy.<\/p>\n

Oxford Nanopore stock was among the top fallers in the FTSE 250 (^FTMC<\/a>) on Tuesday morning following its first-half financials, despite reporting a robust H1.<\/p>\n

It saw revenue growth across all regions and customer segments, it said, accompanied by improved EBITDA.<\/p>\n

Revenue was up to \u00a3105.6m ($141.5m), a 25.6% increase year-on-year, or 28% on a constant currency basis. This growth was fuelled by demand in both research and applied markets, as well as increased adoption of its PromethION platform.<\/p>\n

In August, news came that the biotech’s co-founder and CEO Gordon Sanghera intends to step down in 2026. Sanghera has led the company for more than 20 years.<\/p>\n

Shares in the company have fallen almost 10% in the past month and were nearly 3% lower on Tuesday.<\/p>\n

Download the Yahoo Finance app, available for Apple<\/a> and Android<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"The shares of consumer giant Nestl\u00e9 (NESN.SW) lost ground on Tuesday morning after the company moved to dismiss…\n","protected":false},"author":2,"featured_media":40719,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[126],"tags":[7070,2781,199,2354,23682,23683],"class_list":["post-40718","post","type-post","status-publish","format-standard","has-post-thumbnail","category-nestle","tag-alibaba","tag-laurent-freixe","tag-nestle","tag-revenue-growth","tag-romantic-relationship","tag-tuesday-morning"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ch\/116310273060720591","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/40718","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/comments?post=40718"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/40718\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media\/40719"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media?parent=40718"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/categories?post=40718"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/tags?post=40718"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}