Chinese company Tencent will pay out a $16.4 billion dividend by distributing most of its JD.com stake, weakening its ties to the e-commerce firm and raising questions about its plans for other holdings.
The Italian fashion group wants to double its presence in China in three years, and has announced the opening next spring of stores for Maison Margiela, Jil Sander, Marni and Amiri inside Shanghai’s JC Plaza mall.
Faced with an erosion of its growth on the domestic market, Alibaba has announced the creation of separate divisions for its Chinese and international activities, and heralded the arrival of a new CFO.
China's Alibaba Group Holding Ltd on Thursday missed market expectations for second-quarter revenue, as consumption in the country slowed and its e-commerce business took a hit from supply chain constraints.
French cosmetics giant L'Oreal on Thursday said it had reached a "constructive and satisfactory solution" following a dispute about prices during Alibaba Group's Singles Day shopping promotion early this month.
Chinese ecommerce titan Alibaba enjoyed record sales during its Singles Day shopping extravaganza, giving a much-needed boost to the firm after a torrid year in which it became the symbol of a government crackdown.