Alibaba share price plummets on disappointing revenue figures August 12, 2015 Alibaba's share price is set for a continued slump after its revenue and sales growth came in weaker than expected in the first quarter. The figures The Chinese e-commerce company's stock opened over seven per cent down on the New York Stock Exchange this morning after it reported a 28 per cent increase in revenue [...]
E-commerce giant Alibaba invests £2.97bn in Suning as global mergers and acquisitions hit new high August 10, 2015 Alibaba’s announcement it would be investing £2.97bn in a 20 per cent stake in retail giant Suning marks the Chinese e-commerce giant’s biggest acquisition ever. The global deal bonanza continues upwards. With global M&A recently hitting a post-downturn high, Alibaba’s record deal came just hours after Warren Buffett confirmed a record $37bn deal as his [...]
Alibaba makes former Goldman Sachs executive its new president August 4, 2015 Alibaba has appointed former Goldman Sachs vice-chairman Michael Evans as its new president to lead the group's push into new international markets. Read more: As Jack Ma goes on a US charm offensive, does Alibaba pose a real threat to Amazon and Ebay? A Goldman Sachs veteran of 20 years, including a nine-year stint as its [...]
Alibaba invests $1bn in cloud computing arm Aliyun to compete with Amazon Web Services July 29, 2015 Chinese e-commerce giant Alibaba is planning a $1bn push into the cloud, taking on Amazon by expanding its cloud computing unit Aliyun into international markets. The company, often described as the “Chinese Ebay”, is expanding its cloud computing arm from its current bases in China and Silicon Valley to the Middle East, Europe and Japan, [...]
Alibaba executive Patrick Liu Chunning arrested by Chinese authorities in corruption probe July 10, 2015 Senior Alibaba executive Patrick Liu Chunning has been arrested over allegations of corruption during his time at Tencent, a rival Chinese internet firm. Read more: Alibaba wants to create China's HBO and Netflix equivalent In a statement Alibaba insisted the Chinese authorities' probe had "nothing to do with" its own operations. Liu is vice president of [...]
Alibaba wants to create China’s HBO and Netflix equivalent June 14, 2015 Alibaba is releasing a Netflix-style streaming service in two months, the firm's head of digital entertainment revealed today. The service will be called Tmall Box Office – "TBO" for short – and will feature Alibaba-produced content as well as programming acquired from China and other territories. Read more: Alibaba Pictures share price tumbles following $1.6bn placement [...]
Alibaba founder Jack Ma’s three tips for small business owners June 11, 2015 If there's one person small business owners would want to learn from, the richest man of the world's second-largest economy who was also the guiding force behind the biggest IPO in history wouldn't be far down the last. Luckily, Jack Ma has shared his three tips for small business owners in a conversation with American [...]
As Jack Ma goes on a US charm offensive, does Alibaba pose a real threat to Amazon and Ebay? June 10, 2015 Mike van Dulken, head of research at Accendo Markets, says Yes In terms of sheer size, accounting for 80 per cent of all Chinese online shopping, with volume growth easily outstripping rival internet retailers thanks to 1bn items on offer to 350m buyers, and with 30m shipments made per day, fast-growing behemoth Alibaba represents a [...]
Alibaba Pictures share price tumbles following $1.6bn placement June 4, 2015 Alibaba Pictures' share price has dropped over eight per cent on the Hong Kong Stock Exchange as it announced a massive share sale expected to raise at least HK$12.1bn ($1.6bn/£1.2bn). Read more: Alibaba will invest in Jackie Chan movies The company is a separately traded unit of the New York-listed ecommerce giant Alibaba, formed last year [...]
Top 100 firms double in value to $16.2 trillion: Apple heads list as HSBC named UK’s most valuable company June 1, 2015 The world’s biggest 100 firms now have a combined value of more than $16 trillion (£10.7 trillion), almost double their market capitalisation in 2009, a PwC study reveals today. Technology firms have driven the boom in valuations – just 12 firms in the sector have a combined valuation of $2.8 trillion. Six years ago, the [...]