Ant Group reportedly saw a 92% decline in its quarterly profit. The FinTech company continues to face challenges in reviving its business amid an economic downturn and regulatory scrutiny, Bloomberg reported Wednesday (Feb. 7). Ant Group’s profit contributed 80 million yuan (about $11 million) to...
Chinese tech giant Alibaba Group is reportedly considering selling several of its brick-and-mortar businesses, including grocery business Freshippo, retailer RT-Mart and shopping mall operator Intime. The decision comes as Alibaba aims to focus on its core eCommerce business model and divest non-core, non-profitable units, Reuters...
As the Lunar New Year approaches, major online retailers in China are offering significant discounts on iPhone models. Alibaba’s Tmall and JD.com are among them. Apple, facing tough competition from domestic brands like Huawei, is also joining the discount trend, Nikkei Asia reported Thursday (Jan. 18). These moves come as iPhone sales in...
Valentine’s Day is less than a month away, and if you’re on the lookout for something special for your sweetie, PYMNTS is here to help. Every month, we determine the most popular mobile applications in the retail industry in the Provider Ranking of Shopping Apps....
March 29, 2023
In an ambitious and far reaching move, China is signaling a new approach to Big Tech. And by extension, entrepreneurship and innovation will blossom. Split six ways, you might say — crystallized in the carving up of Alibaba. Or maybe not. The news that Alibaba is, in effect, restructuring and opening the door to public […]
November 11, 2022
Started by Chinese eCommerce giant Alibaba.com as a kind of Valentine’s Day for the unattached to buy gifts for themselves, the annual Nov. 11 Single’s Day phenom has since grown...
November 03, 2021
In the great supply chain snarl that has been a hallmark of recent months, as the holiday season looms, it has been the smaller suppliers that have been the most...
December 01, 2020
Legacy cross-border payment methods that may have been inconvenient but endurable in 2019 no longer serve firms’ needs in 2020. Last year saw 68% of companies using wire transfers to...
April 08, 2024
Chinese conglomerate Alibaba is reportedly offering steep price cuts to its cloud customers. These markdowns — as high as 59% and aimed at customers from the U.S. to Singapore — come amid a leap in demand for cloud computing to support artificial intelligence (AI) projects, Bloomberg News reported Monday (April 8). The company has cut prices by an average […]
February 07, 2024
Ant Group reportedly saw a 92% decline in its quarterly profit. The FinTech company continues to face challenges in reviving its business amid an economic downturn and regulatory scrutiny, Bloomberg...
February 02, 2024
Chinese tech giant Alibaba Group is reportedly considering selling several of its brick-and-mortar businesses, including grocery business Freshippo, retailer RT-Mart and shopping mall operator Intime. The decision comes as Alibaba...
January 18, 2024
As the Lunar New Year approaches, major online retailers in China are offering significant discounts on iPhone models. Alibaba’s Tmall and JD.com are among them. Apple, facing tough competition from domestic brands like Huawei, is also...
