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...
Shein reportedly has some work to do if it wants to court the U.S. retail industry. The fast fashion giant filed for an initial public offering (IPO) in the U.S. last year, but has also been trying to become a member of the National Retail Federation (NRF), CNBC reported Monday...
WhatsApp is reportedly working in China despite a years-long ban on this and other foreign messaging and social media platforms. Users of the Meta-owned messaging platform in the country said they have been able to send and receive messages without using the workarounds they normally have to employ, although it is...
Retailer discounts reportedly helped drive a roughly 12% increase in Chinese iPhone shipments in March. Shipments of foreign smartphones — most of which would have been Apple’s flagship product — rose to 3.75 million units in March, Bloomberg News reported Wednesday (May 8), citing data from the China Academy of...
April 24, 2024
The clock is running out on TikTok’s U.S. ambitions. President Joe Biden on Wednesday (April 24) signed a bipartisan measure that gives TikTok’s owner, Chinese tech giant ByteDance, nine months to a year to sell the video-sharing social media platform or see it banned in the U.S. Biden’s action followed the measure’s passage in the […]
March 25, 2024
Alan Marquard, head of transfer solutions at Mastercard, told PYMNTS that remittances are ripe for continued transformation — to digital channels, and to digital wallets, which make international fund flows...
July 19, 2023
While Richmont has essentially declared that China isn’t buying, prestigious London department store Harrods is preparing to unveil an exclusive club in Shanghai. This step not only marks the luxury retailer’s...
July 17, 2023
China is a famously hands-on nation when it comes to controlling information within its borders. Still, that hasn’t stopped some of the world’s largest technology companies from complying with Beijing’s...
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 contributing 2.57 billion yuan ($355 million) of profit to Alibaba, which holds a one-third stake in the company. Based on that stake and Bloomberg’s calculations, […]
May 13, 2024
Shein reportedly has some work to do if it wants to court the U.S. retail industry. The fast fashion giant filed for an initial public offering (IPO) in the U.S. last...
May 09, 2024
WhatsApp is reportedly working in China despite a years-long ban on this and other foreign messaging and social media platforms. Users of the Meta-owned messaging platform in the country said they have been...
May 08, 2024
Retailer discounts reportedly helped drive a roughly 12% increase in Chinese iPhone shipments in March. Shipments of foreign smartphones — most of which would have been Apple’s flagship product — rose to 3.75 million units...
