August 2024 - ChineseWire

ThursdayAug 29, 2024 10:00 am

Alibaba Announces Upgrade of Hong Kong Listing, Aims to Attract Chinese Investors

Alibaba Group Holding Ltd. (NYSE: BABA) recently announced that it will be upgrading its listing on the Hong Kong Stock Exchange’s main board from Aug. 28, 2024. The move could allow the group, already listed on the New York Stock Exchange, to tap into a new pool of Chinese investors. The listing upgrade will also make Alibaba a dual-listed company, capable of receiving investment from two of the most robust financial markets on the globe. Alibaba applied for the listing status upgrade in July 2022, and the move will significantly expand the company’s investor base and grant it access to…

TuesdayAug 27, 2024 10:00 am

IWF Calls Out WhatsApp on Sharing of Child Abuse Imagery

A safety group is calling out Meta subsidiary and global communication platform WhatsApp for not taking steps to stop users from sharing images depicting child abuse. The Internet Watch Foundation (IWF), an organization that finds and removes child abuse images from the internet, alleges that Meta isn't doing enough to protect children and called on the tech giant to intensify efforts to stop the sharing of such images on WhatsApp. According to the safety group, Meta could use content-moderation mechanisms to prevent the proliferation of child abuse images on the communication app. WhatsApp is the most popular mobile communication platform…

ThursdayAug 22, 2024 10:00 am

Big Data Set to Transform Insurance Industry

As computing technology has gone through massively rapid improvements over the past several decades, generating greater and more complex amounts of data has become the norm in many industries. This has been accompanied by complementary advancements in data processing and handling capabilities that have significantly increased access to data and the proficiency of data analysis. The insurance industry, a sector that is greatly reliant on data generation and analysis to run effectively, is now poised to see major changes, thanks to Big Data, a concept that refers to the constantly evolving ability to process and analyze massive volumes of complex…

TuesdayAug 20, 2024 2:00 pm

How Alibaba’s Technology Dazzled Spectators, Wowed Viewers During Recent Olympics

The 2024 Paris Summer Olympics may have just concluded, but they provided Alibaba Group Holding Ltd. (NYSE: BABA) with an invaluable platform to showcase its artificial intelligence and cloud technology. The 19-day competitive sports extravaganza featured a myriad of outdoor and indoor events that used Alibaba's technology to broadcast events and engage with users in a completely unprecedented manner. According Thomas Batch, president of the International Olympic Committee (IOC), Alibaba served the 2024 Olympics by providing supporting technology that significantly improved the games’ “efficiency and sustainability.” The Chinese company partnered with the IOC to bring about a new age of…

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…

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Month: August 2024