Amid Alibaba’s declining profits, the eCommerce giant is seeing its online shoppers’ spending habits depend heavily on how trustworthy they feel the platform is. On a call with analysts Tuesday (May 17) discussing the Chinese multinational technology company’s most recent quarterly earnings report, CEO Eddie...
Ant Group’s profits have dropped 19% as the Chinese FinTech expands its digital wallet offering. A report Tuesday (May 14) by Bloomberg News breaks down the company’s earnings, which showed Ant contributing 2.57 billion yuan ($355 million) of profit to Alibaba, which holds a one-third stake...
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...
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...
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...
May 20, 2024
Artificial intelligence (AI) firms have reportedly begun offering “AI-in-a-box” tools for companies to run in-house. It’s a trend that presents a threat to the AI cloud computing business of Chinese tech giants like Alibaba, Tencent and Baidu, the Financial Times (FT) reported Saturday (May 18). According to the report, among the firms in question is Huawei, which has gotten more than […]
May 14, 2024
Ant Group’s profits have dropped 19% as the Chinese FinTech expands its digital wallet offering. A report Tuesday (May 14) by Bloomberg News breaks down the company’s earnings, which showed Ant...
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...
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...
