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Alibaba Group Holding forecast 2022 revenue that beat estimates, signaling it’s moving past an antitrust investigation that dragged it into the red for the first time in nine years.
Jack Ma’s flagship e-commerce company forecast revenue for the year ending March 2022 will rise at least 30 per cent to more than 930 billion yuan ($144 billion), beating the 923.5bn yuan average seen by analysts. That’s a deceleration from the previous year’s 41 per cent.
Sales for the three months ended on March was a better-than-expected 187.4bn yuan, but it swung to a 5.5bn yuan net loss – its first since 2012 –after the company swallowed a $2.8bn fine for monopolistic behaviour imposed by Beijing.
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Swissquote to use Marqeta API for all-in-one banking app 5 hours ago
Source: Marqeta Marqeta, the global modern card issuing platform, today announced it is partnering with Swissquote, a leading provider of online financial services, to offer a new app-based card program that gives users control over a range of financial activities, including banking and investing, in a single digital space. Swissquote launched in 1996 and is a leading online trading platform in Switzerland, with offices in Hong Kong, Singapore, Malta, Luxembourg and the UK. The company has a long history of financial innovation and was one of the first trading specialists to offer real-time quotes. Swissquote was also an early adopter of AI and machine learning in financial services, launching a robo-advisor in 2010, an
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Facebook Diem shifts operations from Switzerland to US 2 hours ago
3 Facebook-backed cryptocurrency Diem is abandoning efforts to gain a payments licence from Swiss regulator Finma and instead switching its focus to the US The Diem Association, which oversees development of the digital currency, has shifted its operations to the US and partnered with crypto-friendly US bank Silvergate, which will become the exclusive issuer of the Diem USD stablecoin.
The company says the formation of the partnership is an important step in preparation for a Diem USD pilot.
Walmart To Acquire Virtual Fitting Room Platform As Retail Giant Leans Into Fashion forbes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forbes.com Daily Mail and Mail on Sunday newspapers.