Alibaba’s international arm is investing millions in South Korea’s expansion

Alibaba’s international arm is investing millions in South Korea’s expansion

Alibaba’s international e-commerce platform AliExpress has expanded in South Korea and Brazil, in addition to Europe. Pictured here is an AliExpress locker in Poland in July 2022. Nurphoto | Nurphoto | Getty Images BEIJING — Ali Baba‘s international e-commerce company AliExpress is spending the equivalent of $7 million to reach consumers in South Korea, the … Read more

China producer prices turn negative in warning sign for global economy

China producer prices turn negative in warning sign for global economy

SINGAPORE – Prices charged by Chinese companies at the factory gate registered their first annual decline in nearly two years, another depressing signal for the global economy, as bulging inventories and cautious consumers in the West hit overseas demand for Chinese-made goods. Chinese producer prices fell 1.3% in October from a year earlier, the National … Read more

Adidas warns of big earnings hit after ending Ye partnership

Adidas warns of big earnings hit after ending Ye partnership

Kanye West at an event announcing a partnership with Adidas on June 28, 2016 in Hollywood, California. Getty Images Adidas on Wednesday cut its full-year guidance on the back of the German sportswear giant’s termination of its partnership with Kanye West’s Yeezy brand. The company ended its relationship with Ye, formerly known as Kanye West, … Read more

Stock futures inch lower as Wall Street awaits midterm election results

Stock futures inch lower as Wall Street awaits midterm election results

Traders work on the floor of the New York Stock Exchange (NYSE) on October 27, 2022 in New York City. Stocks continued their upward gains on Thursday, with the Dow rising nearly 400 points after a new GDP report beat expectations. Spencer Platt | Getty Images News | Getty Images Stock futures were lower – … Read more

Club names that have been big winners before

Club names that have been big winners before

Strange but true: The S&P 500 has been solidly higher 12 months after the midterm elections in every cycle since 1954, according to Yardeni Research, regardless of which party won or lost. The broad market index’s average one-year gain in 17 post-election windows has been around 15%. These facts are on our minds this Election … Read more

Lyft, Tripadvisor, Take-Two Interactive and more

Lyft, Tripadvisor, Take-Two Interactive and more

Check out the companies making headlines in the dinner trade. Lyft — Shares of Lyft plunged 22.9% after the company’s earnings report showed mixed results last quarter. The ride-hailing company reported adjusted earnings per share of 10 cents, beating analysts’ expectations of 7 cents, but revenue fell short of the Street’s forecast, coming in at … Read more

CZ’s Binance to Buy Rival FTX After Sam Bankman-Fried Faces Liquidity Crunch

CZ’s Binance to Buy Rival FTX After Sam Bankman-Fried Faces Liquidity Crunch

The drama reached a fever pitch on Sunday when Zhao announced that he would sell all his holdings of FTT, the native symbol of the FTX exchange, worth $529 million at the time, due to “recent revelations that came to light. ” The tweet followed a story from CoinDesk that said Alameda Research, a trading … Read more

Take-Two Interactive, Lyft, TripAdvisor and more

Take-Two Interactive, Lyft, TripAdvisor and more

Take a look at some of the biggest movers in the foreclosure market: Take-Two Interactive (TTWO) – Take-Two fell 17.4% in the premarket after the video game publisher cut its booking outlook for the year. Take-Two has been affected by weaker mobile and in-game sales, although CEO Strauss Zelnick said the situation should improve in … Read more

Treasury chief Janet Yellen heads to India as US seeks to deepen ties

Treasury chief Janet Yellen heads to India as US seeks to deepen ties

Treasury Secretary Janet Yellen’s trip to India this week will be the latest attempt by the Biden administration to look past the new power’s longstanding ties to Russia and deepen a relationship it hopes will serve as a counterweight to China. The US has changed its approach to India since the invasion of Ukraine began, … Read more

Boeing’s aircraft deliveries fell in October on 737 airframe defects

Boeing’s aircraft deliveries fell in October on 737 airframe defects

A Boeing 737 MAX 8 sits outside the hangar during a media tour of the Boeing 737 MAX at the Boeing factory in Renton, Washington. Matt McKnight | Reuters Boeing‘s aircraft deliveries in October fell from a month earlier after an airframe failure in its best-selling 737 Maxes delayed the handover of new planes. Boeing … Read more