Alibaba, Chinese e-commerce and entertainment giant, says that the worst of the economic fallout from the coronavirus is now behind it. Indeed, the health and economic crisis is accelerating digital transformation. The company revealed a 34% surge in revenues and net profits between April and June, the first quarter of its new financial year, climbed […]...
A coronavirus vaccine is “possible” by the end of 2020, but would not become widely available until 2021, Harvard University vaccine researcher Dr. Dan Barouch told Yahoo Finance in a recent interview....
Stock futures fell Thursday morning as investors awaited the Labor Department’s weekly jobless claims report and another handful of earnings results before the bell....
(Bloomberg) -- Alibaba Group Holding Ltd.’s quarterly revenue grew a better than expected 34%, signaling that Chinese consumer sentiment is recovering at a rapid clip from its Covid-19 trough.China’s most valuable corporation reported sales of 153.8 billion yuan ($22.2 billion) and net income of 47.6 billion yuan in the June quarter, both surpassing projections. Ant Group, Alibaba’s 33%-owned financial affiliate, grew profit roughly six-fold to $1.3 billion in the March quarter, offering a glimpse into its books in the run-up to a mega initial public offering in Hong Kong and mainland China.Alibaba’s online marketplaces and logistics network is bouncing back from China’s coronavirus-induced lockdowns. The e-commerce giant is benefiting from a gradual pick-up in consumer spending in China, whose economy is among the first globally to recover from the pandemic. Alibaba and close rival JD.com Inc. racked up record sales during a June shopping event this year, as heavy discounting lured...
