China’s Singles Day sales could top 1 trillion yuan even as the economy cools | CNN Business

China’s Singles Day sales could top 1 trillion yuan even as the economy cools | CNN Business

Hong Kong CNN Business  —  China’s Singles Day, the world’s biggest annual shopping event, is known for regularly smashing sales records. This year’s bonanza, which wraps up on Friday and is led by internet titans Alibaba (BABA) and JD.com (JD), will likely be no exception: Analysts expect it to rack up 1 trillion yuan ($140.8 … Read more

Alibaba reports slowest growth yet amid COVID-19 outbreaks

Alibaba reports slowest growth yet amid COVID-19 outbreaks

Alibaba Group Holding Ltd. on Thursday reported a single-digit increase in its fourth-quarter revenue, its slowest quarter yet as its online services and e-commerce businesses took a hit amid COVID-19 lockdowns across China. Revenue increased 9% to 204.05 billion yuan ($30.3 billion) in the three months ended March, as its core e-commerce platforms Taobao and … Read more

Ant Group faces US headwinds in race to IPO before Trump vote

photo

By Julia Fioretti, Lulu Yilun Chen and Abhishek Vishnoi Jack Ma’s Ant Group has a narrow window to make its much-anticipated market debut ahead of U.S. election turbulence. Now its bankers must grapple with any potential delays stemming from a debate in Washington over restrictions on the payments behemoth. Discussions over how and whether to … Read more

Gold one of the safest bets for next 5 years: Julius Baer

photo

Absence of new economy stocks a big hindrance for Asia markets outside of China, says Mark Matthews, Head of Research, Asia. I am literally pinching myself. Look at what we were reporting in the month of March versus what we are staring at right now. In March, it was panic and it was fear and … Read more