(RTTNews) - Alibaba Group Holding Limited (BABA) said that it will invest about $3.6 billion in a Chinese hypermarket and supermarket operator Sun Art Retail Group that will raise its direct and indirect stake to about 72%.As part of the deal, Alibaba will acquire 70.94% of stake
Shares of Sun Art Retail Group Ltd soared more than 20% at the open on Monday after Alibaba Group Holdings said it will take control of China's hypermarket chain operator.
Alibaba Group Holdings said on Monday it will invest $3.6 billion to boost its stake in hypermarket operator Sun Art Retail Group Ltd, gaining further ground in China's booming retail market.
China's securities regulator has approved financial tech firm Ant Group's Hong Kong leg of a planned dual-listing worth up to $30 billion, IFR reported on Monday citing unnamed people familiar with the matter.
Stocks have widely recovered from the coronavirus pandemic, with the S&P 500 back near all-time highs. Big names like Amazon helped lead the rally -- but now boast massive valuations that signal the market is getting pricy. Alibaba (NYSE: BABA) is a good alternative for value
As Ant Group was working in August towards its giant IPO, at least two smaller Chinese banks with existing ties to the fintech firm decided to stop sourcing new consumer loans from it, people with knowledge of the matter said.
China said on Thursday the United States was abusing the concept of national security to oppress foreign companies, following reports that Washington may blacklist Chinese financial technology firm Ant Group.
As Ant Group was working in August towards its giant IPO, at least two smaller Chinese banks with existing ties to the fintech firm decided to stop sourcing new consumer loans from it, people with knowledge of the matter said.
Taobao Taiwan shut its e-commerce site on Thursday after the government ordered the firm to re-register as China-backed or leave the island in a drive to step up scrutiny of Chinese firms amid rising tension with Beijing.
Amazon’s (NASDAQ:AMZN) stock climbed more than 11% in the last 5 trading days, adding nearly $170 billion to its market cap. To put things in perspective, the increase in Amazon’s market cap in a single week was more than the magnitude of market cap of most of the f
The U.S. State Department has submitted a proposal for the Trump administration to add China's Ant Group to a trade blacklist, according to two people familiar with the matter, before the financial technology firm is slated to go public.
Almost exactly a year ago, Amazon (NASDAQ: AMZN) launched its local website in Singapore -- its first in Southeast Asia -- taking aim at incumbent leaders Sea Limited's (NYSE: SE) Shopee and Alibaba's (NYSE: BABA) Lazada.
China's securities regulator is probing a potential conflict of interest in fintech giant Ant Group's planned $35 billion stock listing, delaying approval for what could be the world's largest IPO, three people with direct knowledge of the matter said.
A compilation of the most active stocks on U.S. exchanges. For faster updates on individual market-movers, Eikon users please use search string "STXBZ US" and Thomson One users please search "RT/STXBZ US".
A compilation of the most active stocks on U.S. exchanges. For faster updates on individual market-movers, Eikon users please use search string "STXBZ US" and Thomson One users please search "RT/STXBZ US".
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