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Top related persons:
Alibaba - 1 Pinduoduo - 1 Eddie Wu - 1 Daniel Zhang - 1 Alibaba's - 1 Jack Ma - 1 Joe Tsai - 1 Evelyn Cheng - 1
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Beijing Suqian City Jiangsu Province China premarket U.S China’s Jiangsu
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Revenue - 1 Alibaba - 1 Beijing CNN - 1 Getty - 1 Beijing Youth Daily - 1

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3 mentions found


☆ Alibaba shares jump 4% in premarket trade after it hikes share buyback program by $25 billion
  + stars: | 2024-02-07 | by ( Arjun Kharpal | ) www.cnbc.com   time to read: +2 min
Shares of Alibaba jumped in premarket trade, as the company missed market expectations for revenue in the December quarter, but announced it is increasing the size of its share buyback program by $25 billion. U.S.-listed shares in the Chinese e-commerce giant were more than 4% higher in pre-market trade. Here's how Alibaba did in its fiscal third quarter, compared to LSEG estimates:Revenue: 260.35 billion Chinese yuan ($36.6 billion) versus 262.07 billion yuan expected. On top of its structural changes, Alibaba also scrapped the hotly-anticipated spinoff of its cloud computing business last year. More recently, two of Alibaba's co-founders, Jack Ma and Joe Tsai, in January bought shares worth around $200 million in the Chinese e-commerce giant.
Persons: Alibaba, Pinduoduo, Eddie Wu, Daniel Zhang, Alibaba's, Jack Ma, Joe Tsai, Evelyn Cheng Organizations: Revenue, Alibaba Locations: Suqian City, Jiangsu Province, China, premarket, U.S, Beijing
☆ 10 dead after tornadoes tear through two cities in eastern China
  + stars: | 2023-09-20 | by ( Mengchen Zhang | ) edition.cnn.com   time to read: +1 min
Beijing CNN —Ten people have died as two tornadoes ripped through two cities in China’s eastern Jiangsu province. It’s the latest deadly extreme weather event to hit the country, which over the last few months has been grappling with severe floods as well as extreme heat waves. Five people were killed and four were severely injured from a strong tornado that struck Suqian city in Jiangsu province on Tuesday, according to state broadcaster CCTV. More than 400 people have been relocated and more than 130 houses were destroyed in the city, CCTV reported. Scientists are confident that extreme weather events will only become more frequent and more severe unless the world stops burning planet-heating fossil fuels.
Persons: Stringer Organizations: Beijing CNN, Getty, Beijing Youth Daily Locations: Beijing, China’s, Jiangsu, Suqian, Yancheng –, Shanghai, AFP
☆ Venture capitalists are betting on a part of China’s chip industry safe from U.S. bans
  + stars: | 2022-10-28 | by ( Evelyn Cheng | ) www.cnbc.com   time to read: +5 min
The U.S. this month imposed new restrictions to maintain a lead over China in advanced chip technology. That gap leaves a large market opportunity far more insulated from U.S. restrictions — and one that Chinese startups can tap, some venture capitalists said. He claimed WestSummit-backed GigaDevice Semiconductor is one of the Chinese companies well-positioned to capture the mature market. "However, chip-making is a mature technology that has been developed many years. Looming risksDespite the large market opportunity, early-stage investment in Chinese chip startups still face risks from potential lawsuits and the complexity of the technology itself, Vertex's Tay said.
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