In an unexpected twist, Alibaba, the dominant force in China’s e-commerce landscape, reported a robust profit for its September quarter, surpassing market expectations. The company disclosed a striking 58% year-over-year increase in net income, reaching 43.9 billion Chinese yuan (approximately $6.07 billion). This surge is primarily linked to favorable mark-to-market evaluations of its equity investments
In recent years, family offices — private investment firms representing the interests of affluent families — have emerged as significant players in the world of startup investments. This shift signifies a broader transformation within high-net-worth individuals and families, who are moving towards direct investments in private ventures rather than relying solely on traditional investment funds.
As the end of the week approaches, all eyes are on the expected release of key economic indicators from China’s National Bureau of Statistics. The upcoming data for October will focus on vital aspects such as retail sales, industrial production, and fixed-asset investment. Analysts have high hopes, forecasting a 3.8% year-on-year uptick in retail sales,
As the effects of the pandemic wane, the American economy finds itself in a unique position with its inflation rates showing signs of decline. This phenomenon, identified as deflation, is somewhat unusual in the U.S. context, where price reductions tend to be rare following increases. However, amidst a resetting global landscape, particular segments of the
Disney’s evaluation of its traditional TV networks reflects a complex and evolving media landscape. With the rise of streaming platforms and shifting consumer preferences, the future of cable television networks appears increasingly uncertain. Recently, the company’s Chief Financial Officer, Hugh Johnston, indicated that separating Disney’s television networks may be more detrimental than beneficial, citing operational
Burberry, the iconic British luxury fashion house, finds itself at a crucial crossroads as it embarks on a strategic rebranding effort dubbed “Burberry Forward.” With declining sales overshadowing the brand’s reputation, Burberry is pivoting back to its roots in heritage designs and signature products, aiming to reclaim its position in the competitive luxury sector. This
In a recent address at the Practising Law Institute’s 56th annual conference on securities regulation, SEC Chairman Gary Gensler delivered remarks that resonated with a tone of reflection, hinting at the end of his tenure. Gensler, who has held the position since April 2021, described his time at the SEC as a profound honor, underscoring
In a decisive turn of events, luxury companies Capri Holdings and Tapestry have mutually agreed to terminate their proposed merger, following significant opposition from the Federal Trade Commission (FTC). This $8.5 billion acquisition, which was initially announced in August 2023, was touted as a transformative alliance that would unite two of America’s foremost luxury conglomerates
In recent developments, the chaos enveloping Britain’s motor finance industry has sparked serious concerns among analysts and stakeholders alike. The root of the turmoil can be traced back to a pivotal ruling by the U.K.’s Court of Appeal, which has shown the potential to alter the landscape of consumer automotive financing in a manner reminiscent
In a stark revelation from cybersecurity firm BioCatch, the landscape of digital banking is witnessing an alarming tenfold increase in scams throughout 2023. This surge is primarily attributed to opportunistic criminals exploiting human psychology rather than technological vulnerabilities. The report, which involves data from 170 financial institutions across the U.S. and Canada, elucidates a trend