Friday, 22 November, 2019

Alibaba may buy Kaola from Netease

The logo of Alibaba Group is seen at the company's headquarters in Hangzhou Zhejiang province China The logo of Alibaba Group is seen at the company's headquarters in Hangzhou Zhejiang province China
Russell Knight | 17 August, 2019, 10:31

"We continue to invest for long-term growth while, at the same time, gaining cost efficiencies in our investment areas", said Alibaba.

On Thursday, the 15th of August 2019, Alibaba Group Holdings Ltd., the Chinese multinational conglomerate engaged in e-commerce, retail, internet services and technology, had posted a better-than-projected quarterly earnings' report for second quarter of the year, mostly triggered by growth in its cloud computing and e-commerce businesses.

US -listed shares in the company, which makes money primarily by selling advertising and promotional services to third-party merchants on its Taobao and Tmall sites, rose 3% to $166.72 in trading before the bell.

Alibaba and Chinese tech firm Netease are in talks on the internet giant's potential acquisition of its cross-border e-commerce platform Kaola, which would be merged with Tmall.

The two companies are helping Wall Street breathe a sigh of relief after the worst day of trading in 2019. However, with aggressive subsidies to increase market share, Kaola has never turned a profit.

Akshay Kumar and Vidya Balan talk on Mission Mangal’s success
Two highly content-driven films Mission Mangal and Batla House released this Independence Day. Scroll through his full gallery below. #IndependenceDay holiday gave its biz additional push.

WeWork to test IPO investor appetite with widening losses
The company also reported that it had 527,000 members as of June 30, an increase of more than 90% from the year before. WeWork had been targeting a share sale of about $3.5 billion in September, people familiar with the matter have said.

FCC fines networks for wrongly using emergency alert system | AP entertainment
AMC's " The Walking Dead " also got slapped with a $104,000 fine for using the restricted tones twice in February. On October 3, 2018, the ABC late night show aired a "trailer" for a new horror film called " The Textening ".

Following the release of Alibaba's earnings results, the company's stocks rallied on Thursday. Revenues at its online marketplaces Taobao and Tmall improved 26%, while sales in its cloud computing unit - which competes with Amazon - jumped 66%, driven by an increase in average revenue per customer. Additionally, the company plans to expand its own roster of services with an emphasis on high-growth categories such as analytics, artificial intelligence and cybersecurity.

Alibaba's e-commerce and physical retail operations, which constitute the bulk of the Core Commerce business to which Alibaba Cloud belongs, grew as well in the past quarter.

The company announced that its active consumer network has now reached 674 million users, an increase of 17% compared to a year ago.

Despite the slowdown of China's economy, the company said that it had $1.83 in earnings per share (EPS) and $16.7 billion in revenue.

Recommended

Christchurch killer's trial may be put off until after Ramadan Christchurch killer's trial may be put off until after Ramadan New Zealand's Prime Minister Jacinda Ardern talks to the media on Monday, August 5, 2019, in Wellington, New Zealand. There were about 100 other prisoners who were identified as having extremist ideologies, she said.

Oil inches above $60 as US delays tariffs on Chinese goods Oil inches above $60 as US  delays tariffs on Chinese goods Global economic worries, amplified by tariff conflicts and uncertainty over Brexit, are also hitting European economies. Both reports underlined the widening economic cracks as the trade war between the United States and China intensifies.

Iran tanker preparing to sail but still at anchor off Gibraltar Iran tanker preparing to sail but still at anchor off Gibraltar President Donald Trump and the Iranian government over its nuclear program, ballistic missile development and involvement in regional conflicts.

OPPO Teases Reno 2 Announcement; Launch To Happen On 28 August OPPO Teases Reno 2 Announcement; Launch To Happen On 28 August There were two variants in the Oppo Reno series including the basic Oppo Reno and the Oppo Reno 10X Zoom . The inclusion of 20x Zoom would undoubtedly be a highlight specification of the Reno 2 series .

Cathay Pacific boss resigns amid Chinese pressure over Hong Kong protests Cathay Pacific boss resigns amid Chinese pressure over Hong Kong protests The airline is fully committed to Hong Kong under the "One Country Two Systems" principle, Cathay said in Friday's statement. A separate, pro-government gathering under the slogan "Save Hong Kong " has also been scheduled for Saturday.

First two Ebola cases confirmed in Congo's South Kivu First two Ebola cases confirmed in Congo's South Kivu Now a year into the epidemic , there are concerns that we're running out of the current vaccine , produced by Merck. The cases in South Kivu come on the heels of an announcement of a breakthrough in the quest for drug to treat Ebola.

Nancy Pelosi says Good Friday deal will be defended Nancy Pelosi says Good Friday deal will be defended This would threaten the Good Friday Agreement and potentially risk a resumption of "the troubles" in Northern Ireland. Congress is split between Democrats, who control the House, and Trump's fellow Republicans, who control the Senate.

Landry Jones becomes the first QB to sign with the XFL Landry Jones becomes the first QB to sign with the XFL In his time with the Sooners, from 2008-12, Jones tallied 16,646 passing yards and 126 touchdowns. "I can't wait to suit-up". Jones has started five games in his National Football League career, and he's held his own for the most part.

Mauricio Macri to announce plan to ease Argentines' economic pain Mauricio Macri to announce plan to ease Argentines' economic pain The peso closed 4.29% lower at 55.9 per USA dollar on Tuesday after touching 59 earlier in the day. Gasoline prices will be frozen for 90 days as part of the package of measures announced by Macri.

THQ Nordic Announces New Metro & Saints Row, Reaffirms Dead Island 2 THQ Nordic Announces New Metro & Saints Row, Reaffirms Dead Island 2 I'm not convinced it will ever appear at this point, but we'll always have that cool E3 cinematic . THQ Nordic has, once again, blown minds with a staggering slew of new reveals .

Dow Suffers Worst Day Of Year On Recession Fears Dow Suffers Worst Day Of Year On Recession Fears Bonds have been under pressure, however, as risk-adverse investors have fled to them for safety - driving down yields. In fact, the last time the US curve inverted, in 2007, was just before the economic crash in 2008.

Microplastics are now snowing over the Arctic Microplastics are now snowing over the Arctic These micro-plastics can also be found in marine sediment, sea water and sea creatures . The BBC's environment analyst Roger Harrabin has been looking in to what causes it.

'Disgusted' Lampard slams racist abuse of Abraham 'Disgusted' Lampard slams racist abuse of Abraham He's a machine on the football field. "I think he's going to be a really strong striker for this club". We've got a quality bunch in there, a really good group, and we're working hard.

New FDA cigarette labels include realistic images of smoking-related health problems New FDA cigarette labels include realistic images of smoking-related health problems According to the FDA , 34.3 million U.S. adults and almost 1.4 million young people in the USA , ages 12-17, now smoke cigarettes. The warnings are the first update in 35 years and would replace the standard surgeon general's warnings , Sharpless says.

Alan Jones attacks 'hypocrite' Jacinda Ardern again as climate change row escalates Alan Jones attacks 'hypocrite' Jacinda Ardern again as climate change row escalates But Ms Ardern said, "For me it's about keeping an eye on what ultimately everyone is seeking which is a resolution". And Sleeping Giants Oz wants socks sent to the chair of Nine, Peter Costello.