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Business - LeEco`s sports unit cuts 10 percent of staff amid funding crunch

BEIJING/SHANGHAI (Reuters) - The sports unit of Chinese technology giant LeEco will cut 10 percent of its staff and restructure its business after the parent firm`s billionaire chief executive flagged concerns over spiraling debt and corporate overextension last month. A company spokeswoman said the cuts would be made at various departments inside LeEco`s sports unit, LeSports. LeEco`s CEO Jia Yueting made waves in November after writing a letter to staff saying the firm was facing `big company disease`, casting fresh doubt over the conglomerate`s ambitions in sectors including the electric auto industry and online entertainment.

Wednesday, December 07, 2016  09:36


Sports - Tiger must prove he is over chipping yips: Jacklin

By Tony Jimenez LONDON (Reuters) - Former world number one Tiger Woods must prove he has overcome the `chipping yips` in order to fully challenge golf`s elite again, according to double major champion Tony Jacklin. American Woods, 40, made his comeback after an absence of almost 16 months caused by chronic back problems to finish 15th in an elite 17-man field at last week`s Hero World Challenge in the Bahamas. `I thought it was a promising return by Tiger,` Jacklin told Reuters in a telephone interview from his Florida home.

Wednesday, December 07, 2016  09:34

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