Amazon.com said it would shut its China online store by July 18, as the US e-commerce giant focuses on the lucrative businesses of selling overseas goods and cloud services in the world’s most populous nation. The move underscores how entrenched, home-grown e-commerce rivals have made it difficult for Amazon’s marketplace
Alibaba is considering raising as much as $20 billion through a listing in Hong Kong, people familiar with the matter told Reuters, lining up a second blockbuster deal following its 2014 record $25 billion float in New York.
Chinese e-commerce giant Alibaba Group Holding beat fourth-quarter revenue forecasts on Wednesday, thanks to growth in its core business and its diversification into cloud computing and other services. Alibaba has invested in new business lines such as cloud computing as a boom in its core e-commerce has peaked and its top line growth is slowing.
China’s Alibaba Group Holding Ltd on Tuesday said its voice-controlled assistant will feature in local vehicles from Audi AG, Renault SA and Honda Motor Co Ltd, as the tech giant
Shares in firms linked to Chinese online retail titan Alibaba were mixed on Friday a day after rallying on a report it had filed for a Hong Kong listing that could be the city’s biggest initial public offering for almost a decade.