Alibaba announces that Joseph C. Tsai, a co-founder of the Chinese e-commerce giant and current executive vice chairman, will take over as chairman.
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Bitcoin Holds Steady as China Rate Cut Fails to Encourage Risk Taking
The risk-off mood is probably the market’s way of telling China that rate cuts of 10 basis points are not enough to spur the slowing economy.
China Imports Of Russian Oil Highest Since Ukraine Invasion: Data
Chinese imports of Russian oil last month hit their highest level since Moscow’s February 2022 invasion of Ukraine, Beijing’s customs data showed Tuesday.
China rate cut, Alibaba shuffle, aircraft manufacturers – what’s moving markets
China’s central bank has trimmed its benchmark lending rates in an attempt to stimulate its flagging economy, while e-commerce giant Alibaba sees a major shakeup at the board level. Wall Street is …
U.S. Banks Give Up More China IPO Mandates
American investment banks have dropped two mandates for Chinese initial public offerings in Hong Kong in recent days, the latest deals they have backed away from amid a slump in the city’s IPO mar …
Stocks Lower On China Rate Cut, Week Ahead Housing Focus, Alibaba CEO Shake-Up, Intel Ramp, FedEx Earnings – 5 Things To Know
Stock futures lower as China rate cut adds to global market worries; Week Ahead: housing data, earnings wrap-up; Alibaba slides as CEO steps down to run separated cloud business; Intel unveils biggest-ever foreign investment in…
China’s crude imports from Russia surge to record 2.29mn bpd in May
Imports of Saudi crude totalled 7.32 million tons in May, equivalent to 1.72 million bpd, down 16.0% from last month’s 2.05 million bpd. Saudi Arabia had been China’s largest source of crude in April.
HSBC cuts China’s GDP forecast to 5.3% on weak property, business outlook
HSBC on Tuesday lowered China’s economic growth forecast for this year, citing drag from the property sector, and tempered business and household confidence.
China cuts main interest rate as economic recovery fizzles out
China’s central bank has cut its main benchmark lending rates … “The 10 bps rate cut[s] are unlikely to stimulate business confidence and housing demand,” said Ken Cheung, chief Asian foreign exchange strategist at Mizuho…
Alibaba’s Crypto Friendly Joseph Tsai Set to Become Chairman
Alibaba (NYSE: BABA) said on Tuesday that Joseph Tsai, one of its founders, will step into the role of Chairman come September. This leadership shuffle, which also saw the company name Eddie Yongming …
Live news: Korean crypto crash firm founder Kwon sentenced in Montenegro
The two were arrested at the Balkan nation’s main airport at Podgorica in March as they tried to board a private jet to Dubai. Kwon is sought by both the US and South Korea on…
Chinese Logistics Entrepreneur Becomes A Billionaire As His J&T Express Gears Up For Hong Kong IPO
Jet Li, who founded delivery firm J&T Express in Indonesia but is now expanding aggressively in his homeland China, has become a billionaire as the company prepares for an initial public offering in …
China’s Zhangzhou creates favorable business environment for private enterprises
A worker is seen at a smart workshop of a private enterprise in Zhangzhou, southeast China’s Fujian Province, June 18, 2023. Local government of Zhangzhou has made efforts to create a favorable business environment,