Chinese Stocks Archives - Page 7 of 23

ThursdayAug 15, 2024 10:00 am

Customers of Cash App Can Now Start Applying for Share of $15M Settlement

Cash App customers could receive slightly more than $2,500 each after the mobile payment service and its parent company, Block, agreed to a $15 million data and security breach class-action settlement. Customers whose accounts had fraudulent transfers or withdrawals or were accessed without their consent are eligible for the class-action settlement as long as they had or still have a Cash App account from August 23, 2018, to August 20, 2024. The class-action was based on a 2021 incident where a former Cash App employee downloaded reports from American accounts without authorization as well as another breach by an unauthorized…

TuesdayAug 13, 2024 10:00 am

UK Regulator Directs Social Media Companies to Pull Down ‘Harmful’ Content on Riots

As riots continue to spread across the United Kingdom after more than a week of civil disorder, UK regulators have instructed social media platforms to pull down “harmful,” riot-related content. According to the UK government, social media platforms played a significant role in fueling the violence by spreading misinformation regarding the Southport incident that triggered the riots. Riots broke out after the incident when false claims that the three girls killed at Southport were murdered by an asylum seeker circulated on social media, resulting in a wave of violence that has lasted more than 10 days and led to more…

FridayAug 09, 2024 10:00 am

Alibaba Sets Date to Release Latest Quarterly Results

Alibaba Group Holding Ltd. (NYSE: BABA) has set the date for the official release of its latest quarter reports. According to an announcement from the Chinese company, unaudited financial outcomes for the June quarter are set to be released on Aug. 15, 2024, prior to the opening of the American market. Alibaba will also conduct a conference call at 19:30 Hours Hong Kong Time (07:30 hours ET) on that day to discuss the financial results. Individuals interested in joining the call will have to go through a preregistration process where they will receive a special access pin, passcode and dial-in…

TuesdayAug 06, 2024 10:00 am

Tinder to Lay Off 6% of Staff Despite Q2 Revenue Growth

Tinder's parent company Match Group is set to terminate 6% of its workforce as part of its efforts to eliminate live-streaming services from its dating platforms. Although Tinder’s revenue report for Q2 2024 revealed that the dating app had seen 4% growth through the quarter and earned around $864 million in revenue, its parent company has decided to eliminate a sizeable portion of its workforce. The decision comes amid an industry-wide slump characterized by slow user growth that began during the coronavirus pandemic and has affected major players such as Bumble and Match Group. As the pandemic significantly limited in-person…

ThursdayAug 01, 2024 10:00 am

33% of Adults in UK Now Use Mobile Payment Channels

Data released by UK Finance’s most recent Payment Markets Report has revealed that a significant number of English adults have incorporated mobile money into their daily lives. According to the report, at least one-third of adults in the United Kingdom used contactless mobile payments in 2023, making mobile money one of the most popular forms of payments in the country. Produced in partnership with IT firm Accenture, the report found that total payments made through the year went up by 5% to hit 48.1 billion in 2023, up from 45.7 billion in 2022. Furthermore, 38% (four out of ten) of…

TuesdayJul 30, 2024 10:00 am

Alibaba’s Taobao Announces Free International Shipping to Boost Competitiveness

Tmall and Taobao, two of Alibaba Group Holding Ltd. (NYSE: BABA)’s largest online marketplaces in the Chinese market, is introducing free international shipping to increase its competitiveness. Alibaba Group Holding is especially interested in making Taobao and Tmall more competitive in the clothing segment where major players such as Temu and Shein reign supreme. The recent move is meant to boost business among clothing merchants on the two Alibaba platforms by eliminating international shipping costs and making it more affordable for them to sell clothing to customers in foreign markets. Competitors such as Shein and Temu have enjoyed significant market…

ThursdayJul 25, 2024 10:00 am

Crackdown on Password Sharing Bears Fruit as Netflix Registers Surging Revenues, New Subscribers

Video streaming services pioneer Netflix has seen its subscriber and earnings growth surge in the second quarter of 2024 amid a popular lineup of programs, forays into advertising and its controversial crackdown on password sharing among users. The recently released numbers show a company steadily gaining momentum after it lost a notable number of subscribers through the first two quarters of 2022 before pivoting its business strategy. Data shows that Netflix gained eight million subscribers between April 2024 to June 2024, representing a 37% year-over-year increase and marking the sixth consecutive quarter that the video streamer’s growth in subscribers exceeds…

TuesdayJul 23, 2024 10:00 am

Germany Mulls Banning Chinese Components from 5G Network

Germany is considering banning Chinese telecommunications companies from accessing its nascent 5G network. A recent statement from the German government revealed that the European economic giant will spend the next few years phasing out the use of parts developed by Chinese telecom companies ZTE and Huawei from its 5G network due to security concerns. This will mark the second time a major Western economy has turned an unfavorable eye toward Huawei after the Trump administration booted it out of the United States. This time, however, it seems another Chinese telecommunications company will also be caught in the crossfire. The move…

ThursdayJul 18, 2024 10:00 am

Alibaba Looks to Gen-AI to Support Overseas Merchants

Chinese e-commerce giant Alibaba Group Holding Ltd. (NYSE: BABA) is looking to leverage generative artificial intelligence (AI) tools to support merchants based in foreign countries. During the recent Reuters NEXT Conference held in Singapore, top officials from the company revealed that Alibaba will use generative AI to support its overseas merchants. The Chinese company's international e-commerce arm is one of the latest corporations that are integrating artificial intelligence into their operations to help streamline processes and reduce costs. While speaking at the Singapore-based event, Alibaba International Digital Commerce Group president and head of AI Initiative Kaifu Zhang said the company…

TuesdayJul 16, 2024 10:00 am

Using Dating Apps Excessively Could Trigger Burnout and Exhaustion

The integration of dating apps such as Tinder and Bumble into relationships and the dating world may be contributing to rising rates of burnout and exhaustion. Dating apps were first introduced as a tool to make meeting potential partners easier. They allowed people to interact with individuals outside of their usual circles and undoubtedly helped foster relationships between people who likely would never meet if they relied on recommendations from family and friends. However, their proliferation and use are increasingly being tied to burnout among people looking for partners. While many people met their current partners on dating applications, just…

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