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☆ Chinese e-commerce giant Alibaba expands number of physical grocery stores ahead of the unit's IPO
▼ + stars: | 2023-06-30 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

Alibaba's grocery unit Freshippo expanded its number of physical stores in China, the company said on Friday, as the business prepares to spin off from its parent company and go public. Freshippo, known as Hema in China, plans to open 12 new stores across mainland China in major cities including Beijing, Shanghai and Guangzhou. Last week, JD set up a new business unit to house its grocery business 7Fresh, and appointed a company veteran to lead the division. Users can order online and get groceries delivered, but can also head to the physical stores known for their fresh produce such as lobsters. The expansion comes three months after Alibaba split itself into six separate business units in a bid to get the company back to growth.

Persons: Alibaba's, Hema, JD, Alibaba's Freshippo, Alibaba, Freshippo Locations: China, Beijing, Shanghai, Guangzhou

☆ An AI wave lifts Tiger Cub hedge funds like Tiger Global, Maverick Capital, and Coatue
▼ + stars: | 2023-06-09 | by ( Michelle Abrego | ) www.businessinsider.com time to read: +2 min

Tiger Global and Coatue have also returned double-digits this year thanks to the resurgence of tech stocks. The Tiger Cub's fund rose 5.60% in May and has gained 19.48% year to date, according to HSBC's Hedge Weekly performance report. This is a welcome turn of events for the Tiger Cubs, funds founded by portfolio managers who worked under the legendary Tiger Management head Julian Robertson. Tiger Global finished the year down 56%, and Coatue lost 18.8%. Fellow Tiger Cubs Lone Pine and grand cub D1 Capital also had double-digit losses, while Viking Global reported a single-digit loss.

Persons: Lee, Ainslie, Wall, Lee Ainslie's, Ainslee, Chase, Philippe Laffont's Coatue, Dan Sundheim, Andreas Halvorsen's Viking, Julian Robertson, Maverick, Coatue, Bloomberg's Katherine Burton, Hema Parmar Organizations: Nvidia, Tiger Global, Facebook, Bloomberg, D1, Andreas Halvorsen's Viking Global, Tiger Cubs, Tiger Management, Fellow Tiger Cubs, Viking Global, Fund Research

☆ Lee Ainslie's Maverick Capital is soaring this year after buying Nvidia. His Tiger Cub peers had a pretty good month too.
▼ + stars: | 2023-06-09 | by ( Michelle Abrego | ) www.businessinsider.com time to read: +2 min

☆ Rebel attacks deepen displacement crisis in Congo's Ituri
▼ + stars: | 2023-04-27 | by ( Paul Lorgerie | ) www.reuters.com time to read: +3 min

Semire said members of the Hema herding community started to abandon Drodro in mid-March ahead of a rumoured advance by CODECO. "There are repeated attacks - this delays the return of people here, because it creates doubts," he said. Its population has nearly doubled to 65,000 since the beginning of 2023, according to camp representative Samuel Kpadjanga. The presence of fighters in the forests and fields around the camp makes attacks on those who venture out a regular occurrence, Kpadjanga said. My life is safe, but they took everything from me, my scythe, my money," she lamented back in a hut at Rhoe camp, as a toddler peeked at her from the doorway.

☆ Explainer: What is driving the violence in eastern Congo?
▼ + stars: | 2023-01-31 | by ( Sonia Rolley | ) www.reuters.com time to read: +4 min

REUTERS/Djaffar SabitiGOMA, Democratic Republic of Congo, Jan. 31 (Reuters) - A focus of Pope Francis' visit to the Democratic Republic of Congo is a meeting on Wednesday with around 60 victims of the decades of violence in the east of the country who have made the cross-country journey to see him. Millions have been killed, and millions more have been displaced by the violence in the east since the 1990s. WHAT IS DRIVING THE VIOLENCE IN EASTERN CONGOThe conflict in Congo goes back decades, making it difficult to isolate a few causes, said Jason Stearns, director of the Congo Research Group. The name refers to the March 23 date of a 2009 accord that ended a previous Tutsi-led revolt in eastern Congo. Rwanda has accused Congo of using the FDLR a proxy, while Congo has accuse Rwanda of backing the M23.

☆ What Kroger, Walmart, Target learned from China's Alibaba about grocery's future
▼ + stars: | 2022-09-25 | by ( Rebecca Fannin | ) www.cnbc.com time to read: +5 min

Kroger has adopted an omnichannel strategy, integration of offline or in-store sales with online orders and logistics. They looked at the New Retail model born in China for complete integration of offline and online channels," he said. But the action was jumpstarted when Amazon bought Whole Foods Market in 2017 and began introducing several advanced technologies to streamline in-store shopping, a shift that also spread to large retailers Walmart and Target. Kroger digital sales gained by 8 percent in the second quarter of 2022, while in-store and online combined gained 5.8 percent from a year earlier. He pointed out that "half of Kroger's app stores are bringing in incremental business and half are cannibalizing in-store sales."

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