Doping at your doorstep: The next Olympic drug crisis could be coming through the mail
Read full article: Doping at your doorstep: The next Olympic drug crisis could be coming through the mailA new wave of peptides, often banned by the World Anti-Doping Agency, is easily available online, raising concerns about potential Olympic doping scandals.
Stock market today: A slide for Walmart pulls Wall Street from its record, and Dow drops 450
Read full article: Stock market today: A slide for Walmart pulls Wall Street from its record, and Dow drops 450Wall Street retreated from its record after a sharp slide for Walmart weighed on U.S. stock indexes.
Chinese e-commerce firms report growth in sales, shoppers for Singles' Day shopping festival
Read full article: Chinese e-commerce firms report growth in sales, shoppers for Singles' Day shopping festivalChina’s e-commerce firms reported an increase in the number of shoppers and a growth in sales for this year’s Singles’ Day shopping festival, although final figures were not publicly revealed.
Singles' Day shopping festival loses its shine under China's lagging economy
Read full article: Singles' Day shopping festival loses its shine under China's lagging economyThe Singles’ Day shopping festival looks less attractive this year amid a sluggish economy, forcing e-commerce firms to look abroad for growth.
Japan's SoftBank reduces its investment losses with gains in Alibaba and other holdings
Read full article: Japan's SoftBank reduces its investment losses with gains in Alibaba and other holdingsJapanese technology giant SoftBank Group has reported a smaller loss for the April-June quarter compared to a year earlier.
Stock market today: Asian shares are mixed, with China up after state fund says it will buy stocks
Read full article: Stock market today: Asian shares are mixed, with China up after state fund says it will buy stocksShares are mixed in Asia, where Chinese markets advanced after a government investment fund said it would step up stock purchases.
Stock market today: Asian stocks pulled lower by profit warnings and signs the US economy is slowing
Read full article: Stock market today: Asian stocks pulled lower by profit warnings and signs the US economy is slowingAsian stocks are mostly lower after Wall Street drifted to a mixed finish as momentum slowed following a strong rally in the first half of November.
Stock market today: Wall Street closes its 3rd straight winning week with a tiny gain
Read full article: Stock market today: Wall Street closes its 3rd straight winning week with a tiny gainWall Street edged higher in quiet trading, closing out a third straight winning week and keeping November on track to be its best month in a year.
Worried Chinese shoppers scrimp, dimming the appeal of a Singles' Day shopping extravaganza
Read full article: Worried Chinese shoppers scrimp, dimming the appeal of a Singles' Day shopping extravaganzaShoppers in China have been tightening their purse strings, raising questions over how faltering consumer confidence may affect the annual Singles’ Day online retail extravaganza.
Alibaba will spin off its logistics arm Cainiao in an IPO in Hong Kong
Read full article: Alibaba will spin off its logistics arm Cainiao in an IPO in Hong KongChinese e-commerce company Alibaba says it will spin off its logistics arm, Cainiao Smart Logistics Network, in an initial public offering in Hong Kong.
Consumption soft even amid deep discounts during major China shopping festival, analysts say
Read full article: Consumption soft even amid deep discounts during major China shopping festival, analysts sayChinese consumers have been snapping up billions worth of items in China’s first major online shopping festival after emerging from the pandemic as merchants slash prices, but analysts say that consumer confidence still remains weak as China re-emerges from the pandemic.
Alibaba's Jack Ma returns to mainland China
Read full article: Alibaba's Jack Ma returns to mainland ChinaAlibaba founder Jack Ma has resurfaced in China after months of overseas travel, visiting a school in the eastern city of Hangzhou where he discussed various topics including artificial intelligence.
Chill pervades China's tech firms even as crackdown eases
Read full article: Chill pervades China's tech firms even as crackdown easesA grinding crackdown that wiped billions of dollars of value off Chinese technology companies is easing, but the once-freewheeling industry is bracing for much slower growth ahead.
Chinese regulators approve capital expansion for Ant Group
Read full article: Chinese regulators approve capital expansion for Ant GroupChinese regulators have said e-commerce giant Alibaba’s finance affiliate Ant Group can raise $1.5 billion for its consumer finance unit in an important step forward after the government called off a planned IPO two years ago and ordered the firm to restructure.
Japan's SoftBank returns to profit as investments rebound
Read full article: Japan's SoftBank returns to profit as investments reboundJapanese technology investor SoftBank Group has reported a 3 trillion yen, or $21 billion, profit for the July-September quarter, a sharp reversal from its loss a year ago.
Alibaba and Tencent stocks plunge after latest fines
Read full article: Alibaba and Tencent stocks plunge after latest finesShares of Chinese technology firms Alibaba and Tencent have tumbled after Chinese regulators fined their subsidiaries for failing to disclose transactions and not complying with anti-monopoly rules.
Alibaba to grow Southeast Asia e-commerce arm to $100b
Read full article: Alibaba to grow Southeast Asia e-commerce arm to $100bAlibaba this week revealed an ambitious vision to quintuple its Southeast Asian e-commerce business to $100 billion in transacted sales, as well as a pledge to reach carbon neutrality in its operations by 2030.
Chinese shoppers spend $139 billion during Singles' Day fest
Read full article: Chinese shoppers spend $139 billion during Singles' Day festChinese shoppers spent $139.1 billion during this year’s annual Singles’ Day shopping extravaganza, breaking last year’s record even though consumer spending slowed amid economic uncertainty during the coronavirus pandemic.
China's Singles' Day shopping fest muted amid tech crackdown
Read full article: China's Singles' Day shopping fest muted amid tech crackdownChina’s biggest online shopping day, known as “Singles’ Day” on Nov_ 11, is taking on a muted tone this year as regulators crack down on the technology industry and President Xi Jinping pushes for “common prosperity.”.
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China fines tech giants for content exploiting children
Read full article: China fines tech giants for content exploiting childrenChina’s internet watchdog says it has fined technology platforms operated by e-commerce company Alibaba and gaming firm Tencent for spreading sexually suggestive content involving children, as regulators seek to clean up content harmful to minors.
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China watchdog launches review of Didi Global days after IPO
Read full article: China watchdog launches review of Didi Global days after IPOChina’s internet watchdog said Friday that it has launched an investigation into ride-hailing company Didi Global Inc. to protect national security and public interest, days after the company went public in New York.
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Meituan's stock price plunges after CEO posts Chinese poem
Read full article: Meituan's stock price plunges after CEO posts Chinese poemShares in Meituan, China's largest food delivery platform, have tumbled after its CEO posted _and then deleted _ an ancient poem in a move widely seen as criticism of the Chinese government.
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Asian stocks advance on optimism over pandemic recovery
Read full article: Asian stocks advance on optimism over pandemic recoveryShares were higher across Asia on Friday after a strong gains on Wall Street driven by hopes for a powerful recovery from the pandemic. (AP Photo/Lee Jin-man)BANGKOK – Shares were higher across Asia on Friday after a strong gains on Wall Street driven by hopes for a powerful recovery from the pandemic. Tokyo, Hong Kong, Seoul and Shanghai all gained and U.S. futures also were higher. Investors have been moving money away from expensive tech stocks as part of a broader shift to stocks tied more closely to economic growth. The Russell 2000 index of smaller stocks outdid the rest of the market, climbing 2.3% to 2,183.12.
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Coupang, the Amazon of South Korea, debuts on NYSE
Read full article: Coupang, the Amazon of South Korea, debuts on NYSE(Courtney Crow/New York Stock Exchange via AP)The biggest IPO in years is rolling out Thursday on the New York Stock Exchange where Coupang, the South Korean equivalent of Amazon in the U.S., or Alibaba in China, will begin trading under the ticker “CPNG." Coupang has raised about $4.6 billion, outsizing last month's $2 billion capital raise by the dating app Bumble. Coupang priced 130 million shares at $35 each, valuing the company at about $60 billion, according to regulatory filings. The company also bumped up the number of shares it is offering because of strong demand by 10 million, for a total of 130 million shares. Coupang says it’s already the third-largest employer in Korea, adding almost 25,000 new jobs last year.
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Asian shares slip on jitters over inflation, interest rates
Read full article: Asian shares slip on jitters over inflation, interest ratesShares fell in Asia on Wednesday as investors weighed the possibility that inflation might prompt central banks to adjust their ultra-low interest rate policies. (AP Photo/Eugene Hoshiko)TOKYO – Shares fell Wednesday in Asia as investors weighed the possibility that inflation might prompt central banks to adjust their ultra-low interest rate policies. Investors remain increasingly focused on a big tick up in bond yields and how it affects stock valuations. However, “Despite reassuring comments on lower rates from the U.S. Federal Reserve chair Jerome Powell, Asia markets continued to look to concerns with regards to the rising bond yields," Pan said. The bet mostly paid off, as big tech companies reported big profits last year.
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Tokyo trading closed for holiday, other Asian indexes mixed
Read full article: Tokyo trading closed for holiday, other Asian indexes mixedFILE - In this Dec. 30, 2020, file photo, an employee tolls the closing bell during a ceremony of the last trading day at the Tokyo Stock Exchange in Tokyo. Major Asian bourses were closed for the New Year's holidays Thursday, Dec. 31, while the handful that remained open was mixed. (JPX via AP)Major Asian bourses were closed for the New Year's holidays Thursday while the handful that remained open was mixed. Trading was closed in Tokyo and South Korea. The Tokyo exchange marked the end of trading for the year Wednesday, with the Nikkei falling 0.5%, and trading will not reopen until Monday next week.
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World shares post modest gains with focus on virus recovery
Read full article: World shares post modest gains with focus on virus recoveryShares were mostly higher Wednesday in Asia after a worldwide rally spurred by hopes that a COVID-19 vaccine will help the global economy return to normal. (AP Photo/Koji Sasahara)Stocks fell back across Asia on Thursday after gains for big technology shares pushed most Wall Street benchmarks higher. Tokyo's Nikkei 225 index gained 0.4% to 25,459.13 despite a report that machinery orders fell in September, suggesting weakness in corporate investment. Hong Kong's Hang Seng index fell 0.1% to 26,206.78 and the Shanghai Composite index declined 0.3% to 3,332.24. Strategists along Wall Street are raising their forecasts for stock prices on expectations that political control of Washington will remain split between the parties.
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Asian shares mostly higher as focus shifts to virus recovery
Read full article: Asian shares mostly higher as focus shifts to virus recoveryBEIJING – Shares were mostly higher Wednesday in Asia after a worldwide rally spurred by hopes that a COVID-19 vaccine will help the global economy return to normal. Japan's Nikkei 225 index gained 1.2% to 25,197.68 and the S&P/ASX 200 advanced 1.3% to 6,419.50. The S&P 500 dipped 0.1% to 3,545.53, after erasing most of an early loss. The Russell 2000 index of small-cap stocks gained 1.9% to 1,737.01, finally returning to where it was in January. Many risks remain, and the biggest may be whether investors have become too convinced about a potential COVID-19 vaccine.
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Chinese shoppers splurge in world's largest shopping fest
Read full article: Chinese shoppers splurge in world's largest shopping festThe shopping festival, which is the world’s largest and typically begins in November, is an annual extravaganza where China’s e-commerce companies, including Alibaba, JD.com and Pinduoduo, offer generous discounts on their platforms. Rival JD.com also reported cumulative sales of 200 billion yuan ($30.2 billion) since Nov. 1, nine minutes after the clock struck midnight on Wednesday. The shopping festival got its name as the main shopping day falls on Nov. 11 every year. To help merchants cope with the impact from the coronavirus, online platforms have extended the shopping festival period this year in hopes of boosting sales. “Some of these products are really cheap during the Singles’ Day discounts.”Unlike Black Friday and Cyber Monday in the U.S., Singles’ Day in China is not just about deep bargains.
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Market debut of Chinese e-finance giant Ant Group postponed
Read full article: Market debut of Chinese e-finance giant Ant Group postponedIn this Friday, Oct. 23, 2020 photo, the figure of Ant Group's mascot is displayed at the Ant Group office in Hong Kong. Ma also founded Alibaba Group, the world's biggest e-commerce company by sales volume, which spun off its Alipay payments service to create the company that became Ant Group. “Views regarding the health and stability of the financial sector were exchanged,” Ant Group said in a prepared statement. In a joint statement, the Chinese central bank, securities regulator and other agencies said Monday they had “regulatory interviews” with Ma, Ant Group chairman Eric Jing and president Hu Xiaoming. It was renamed Ant Group ahead of its stock market debut.
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Chinese fintech could shatter records with $35B share offer
Read full article: Chinese fintech could shatter records with $35B share offerHONG KONG – The world’s largest fintech company, China's Ant Group, will try to raise nearly $35 billion in a massive public offering of stock that would shatter records. Its Shanghai stock was priced at 68.8 yuan ($10.26) each, while its Hong Kong stock is priced at 80 Hong Kong dollars apiece ($10.32), according to filings on Monday. Ant Group will list on the Hong Kong stock exchange on Nov. 5, according to an exchange filing. It was later renamed Ant Financial, before its recent name change to Ant Group. Alibaba, which currently owns a third of Ant Group, will subscribe to 730 million shares and will hold a stake of about 32% after the IPO.
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