Polen Capital, an investment management firm, published its “Polen Global Growth” first quarter 2021 investor letter – a copy of which can be downloaded here. A return of 1.39% was delivered by the fund for the Q1 of 2021, trailing its MSCI All-Country World benchmark that delivered a 4.58% return for the same period. You […]
Nio Opens Flagship Store For Lifestyle Products On Alibaba s Tmall: What You Need To Know Benzinga 5/14/2021
Alibaba Group Holding Limited (NYSE: BABA), the top Chinese e-commerce company.
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What Happened: Nio Life, the EV maker s unit focused on lifestyle products, has opened a flagship store on Alibaba s Tmall platform, the CnEVPost reported, citing the company.
Nio Life was launched in 2018 and it has a network with over 500 designers around the world. It has so far developed 813 new products and delivered over 2.8 million Nio Life merchandise items to users.
Tmall.com is Alibaba s business-to-consumer e-commerce platform, where local Chinese and international businesses sell branded goods to consumers in Greater China.
Alibaba Slips To Loss In Q4
BEIJING (dpa-AFX) - Alibaba Group Holding Limited (BABA) reported that its fourth-quarter net loss attributable to ordinary shareholders was RMB5.48 billion or US$836 million, compared to net income of RMB3.16 billion in the same quarter of 2020 primarily due to the Anti-monopoly Fine in the amount of US$2.78 billion, partly offset by the year-over-year decrease in net loss arising from the fair value changes of investments in the quarter ended March 31, 2021.
Loss per ADS was RMB1.99 or US$0.30 compared to earnings per ADS of RMB1.16 in the prior year.
Excluding the Anti-monopoly Fine, share-based compensation expense, revaluation and disposal gains/losses of investments, impairment of investments and intangible assets and certain other items, non-GAAP earnings per ADS for the quarter was RMB10.32 or US$1.58, an increase of 12% from the prior year.
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Alibaba s Ant At The Forefront Among Privately-Run Businesses To Expand Trials Of China s Digital Currency
Chinese e-commerce giant
Alibaba Group Holding Limited’s (NYSE:BABA) affiliate Ant Group is among the first privately-run businesses to be included in China’s digital currency trials, CNBC reported Sunday.
What Happened: MYbank – an online bank backed by Ant Group – has permitted some users to link their account with China’s digital yuan app, according to the CNBC report that state-backed China Securities Journal. MYbank had over 35 million small business and individual clients as of the end of 2020.
Some users can access the feature through Ant’s Alipay app, one of the two primary mobile pay apps in China. Consumers in the country widely use mobile payments.
The European Central Bank (ECB) is sticking to its guns on playing an active role in the digital currency field, said ECB’s President Christine Lagarde on Wednesday.
What Happened
The ECB will continue assessing the risks and benefits of issuing a central bank digital currency (. Read More. Don t Miss Any Updates! News Directly in Your Inbox Subscribe to: