Alibaba misses revenue estimates as e-commerce growth slows, regulatory crackdown persists
Aug 3 (Reuters) – China’s Alibaba Group Holding Ltd (9988.HK), missed analyst estimates for first-quarter revenue on Tuesday, as its e-commerce business was hurt by rising competition from smaller players such as JD.Com Inc (9618.HK) and Pinduoduo Inc (PDD.O). Alibaba’s results mirror those of e-commerce giant Amazon.com Inc (AMZN.O) in the United States, as the easing of pandemic-related restrictions has led […]
S&P 500 hits new peaks after May inflation data misses estimates
June 25 (Reuters) – The S&P 500 hit all-time high at the open on Friday following robust earnings forecast from Nike, while weaker-than-expected inflation data eased worries about monetary policy tightening in the near term. The S&P 500 (.SPX) opened higher by 7.96 points, or 0.19%, at 4,274.45, while the Nasdaq Composite (.IXIC) gained 31.10 points, or 0.22%, to […]
Online share of retail sales jumps to 19% amid lockdowns – UN
Online sales accounted for nearly a fifth of total retail turnover last year as lockdowns to combat the spread of the coronavirus pandemic fuelled a boom in e-commerce, a United Nations study released on Monday showed. Online sales accounted for 19% of overall retail sales in 2020, up from 16% a year earlier, according to […]
