Alibaba Group Holding Ltd

Chinese e-commerce giant Pinduoduo has been behind its rivals Alibaba and JD.com when it comes to international expansion. Now Pinduoduo has launched a U.S. e-commerce site called Temu.Rafael Henrique | Sopa Images | Lightrocket | Getty ImagesPinduoduo launched its U.S. online shopping site as the Chinese e-commerce giant makes its first major push overseas.The website called Temu, which went online Thursday, lists items across a number of categories including clothing, jewelry, pet supplies and home and garden, and could…

China will implement its audit agreement with the United States announced last Friday and will strengthen communication with foreign institutional investors, a senior Chinese securities regulatory official said. The deal between Beijing and Washington will allow US regulators to vet accounting firms in mainland China and Hong Kong, potentially ending a long-running dispute that threatened to boot more than 200 Chinese companies from US exchanges. Previously, Beijing had been reluctant to grant such access, citing national…

US regulators have chosen e-commerce major JD.com Inc and KFC operator Yum China Holdings Inc among other US-listed Chinese companies for audit inspection starting next month, people with direct knowledge of the matter told Reuters. Both have been notified that they are in the first batch of Chinese firms to be inspected in Hong Kong by the Public Company Accounting Oversight Board (PCAOB), the US audit watchdog, said the people. Their respective accounting firm Deloitte and KPMG have also been informed of the audit work…

Chinese technology giants including Alibaba have seen slower-to-no-growth as China's economy faces weakness as a result of Beijing's zero-Covid policy.Qilai Shen | Bloomberg | Getty ImagesChinese technology giants are coming off the back of their worst quarter of growth in history as a big slowdown in the world's second-largest economy, stoked by Beijing's strict Covid policy, takes its toll.In the second quarter of the year, e-commerce firm Alibaba posted its first ever flat year-on-year quarterly revenue growth and…

Alibaba has faced growth challenges amid regulatory tightening on China's domestic technology sector and a slowdown in the world's second-largest economy. But analysts think the e-commerce giant's growth could pick up through the rest of 2022.Kuang Da | Jiemian News | VCG | Getty ImagesChinese tech giants Alibaba and Tencent often talk about all of their innovations and new products during earnings calls with investors.But the second quarter was different. Executives at China's two largest tech firms focused on something…

Tencent runs the ubiquitous Chinese messaging app WeChat. The company has a short form video feature with in the app and has began to monetize that through video ads in the feed. Tencent said such ads could become a "substantial" source of revenue in the future.Budrul Chukrut | Sopa Images | Lightrocket | Getty ImagesTencent said advertising in its nascent short video platform could become a "substantial" revenue source in the future, even as other areas of its business — such as gaming — face pressure.The focus on this…

China has introduced rules that aim to govern how technology platforms use recommendation algorithms. It is part of a broader push from Beijing to more closely regulate China's domestic technology sector.Thomas White | ReutersChinese technology giants shared details of their prized algorithms with the country's regulators in an unprecedented move, as Beijing looks for more oversight over its domestic internet sector.The Cyberspace Administration of China, one of the country's most powerful regulators, released a list on…

Vroom IPO at the Nasdaq site, June 9, 2020.Source: NasdaqCheck out the companies making headlines before the bell:Poshmark — Shares spiked more than 5% after Barclays upgraded the online fashion retailer to overweight from equal weight. Poshmark will get a boost from the fast-growing second-hand clothing marketplace, especially if consumers trade down in a recession, Barclays said.Vroom — Shares dropped more than 3% after JPMorgan downgraded the stock to underweight from neutral, saying that the online used car retailer…

Disney World celebrated its 50th anniversary in April 2022.Aaronp/bauer-griffin | Gc Images | Getty ImagesCheck out the companies making headlines in midday trading Monday.Poshmark — Shares of the secondhand fashion retailer jumped 15% after Barclays upgraded them to overweight from equal weight. The firm said it sees more than 40% potential upside for the stock, especially if consumers trade down in a recession.Disney – Shares of the entertainment company gained 2.8% after Daniel Loeb's Third Point took a new stake in …

Dropbox Inc: "Nothing ever happens to the stock, and I think that that's because nothing's going to happen to the stock. ... I'm going to have to say, pass."23andMe Holding Co: "The stock has no mojo. That's a technical term for 'not going anywhere.'" Dropbox Inc: "Nothing ever happens to the stock, and I think that that's because nothing's going to happen to the stock. ... I'm going to have to say, pass."23andMe Holding Co: "The stock has no mojo. That's a technical term for 'not going anywhere.'" FOLLOW US ON…