TuesdayJun 04, 2024 10:00 am

Alibaba Reportedly Stops Accepting Payment in Rubles, Halts Shipments to Russia

A recent report by Russian publication Kommersant has revealed that AliExpress parent company Alibaba Group Holding Ltd. (NYSE: BABA) has stopped accepting payments made in Rubles and halted deliveries to Russia. The report alleges that the Chinese multinational has “tightened conditions for Russian businesses” by making sweeping changes to the payment and delivery rules its online marketplace follows. Kommersant pointed to a local economic expert who associated Alibaba's recent anti-Russia policies with heightened fears of current economic sanctions against Russia affecting perceived allies. Most western countries issued sanctions against Russia after it invaded Ukraine in 2022, and countries such as…

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ThursdayMay 30, 2024 10:00 am

Online Dating Apps Scramble to Address Threats, Scams as Women Become More Wary

Recent reports have indicated that dating applications are scrambling to address the security threats facing their platforms in an attempt to attract young women. Many Gen Z women are turning away from online dating as scammers and criminals proliferate on dating platforms. While these security risks are typically financial scams, there has been a recent increase in romance scams that lead to crimes as severe as human trafficking. As younger women are becoming more wary of modern dating apps, these platforms are reportedly considering novel features to boost their security and increase user confidence. A Financial Times report noted that…

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TuesdayMay 28, 2024 10:00 am

Mobile Wallets Now Control 84% of Payments in China

A recent GlobalData survey has revealed that a majority of payments in China are now occurring through mobile money wallets. The survey found that mobile money wallets are responsible for covering a whopping 84% of payments in the east Asian nation, a concrete sign that Chinese consumers have overwhelmingly bought into mobile money wallets. According to the GlobalData 2023 Financial Services Consumer Survey, slightly more than 84% of consumers in China reported that they had virtual wallets such as WeChat Pay and Alipay and had used them to purchase goods in a physical shop in the past year. GlobalData states…

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ThursdayMay 23, 2024 10:00 am

Alibaba Exceeds Revenue Expectation, Distributes $4B in Dividends

Alibaba Group Holding Ltd. (NYSE: BABA) has revealed that it exceeded its revenue forecasts for Q4 2023 and enjoyed a 7% year-over-year revenue increase to bring in a whopping $30.73 billion. The Chinese technology company notes that the unexpected growth was largely due to the success of its cloud and e-commerce businesses, which helped it surpass the $30.4 billion consensus estimate set forth by Bloomberg. Furthermore, Alibaba's earnings for fiscal year 2024 have seen an 8% year-over-year increase to $130.13 billion, which allowed the technology multinational to distribute $4 billion in dividends to its shareholders. Chief financial officer Toby Xu…

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TuesdayMay 21, 2024 10:00 am

Rumble Files Lawsuit Against Google’s Advertising Practices

Video-sharing platform and YouTube competitor Rumble has filed a suit against Google over the leading information technology company’s online advertising activities. According to Rumble, Google has engaged in anticompetitive business practices and secured a monopoly over the digital-advertising space by preventing Meta subsidiary Facebook from providing customers with alternatives to its digital-advertising ecosystem. Rumble's lawsuit claims that Google also used its financial might to gobble up potential competitors, granting it a monopoly in both the buying and selling of online ads as well as near total control over the systems that facilitate digital ad buying and selling. The video-sharing platform…

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ThursdayMay 16, 2024 10:00 am

American Company Confirms Huawei No Longer Needs Its Semiconductors

One of the world's top semiconductor manufacturers has revealed that Chinese telecommunications company Huawei has fully replaced it with alternative suppliers. American semiconductor giant Qualcomm says embattled tech company Huawei doesn't need its advanced processors anymore and is now 100% reliant on other suppliers, a direct consequence of the ongoing trade war between China and the United States. With tensions between the two nations escalating over the past decade, the Trump administration took significant steps to expel Huawei from the American market due to reported security concerns. In the years since Huawei’s expulsion from the U.S., lawmakers have strived to…

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TuesdayMay 14, 2024 10:00 am

Increased Calls for Congress to Take an Interest in Risks of Dating Apps

A rise in romance scams with human-trafficking ties has led to increased calls for Congressional action on the risks posed by dating apps. While romance scammers on dating apps typically coerce users into giving them money, there has been an uptick in dating app scams with human-sex-trafficking implications. A recent series of CBS News reports, titled “Anything for Love,” shined a light on romance scams on dating applications and websites that pull their victims into horrific human-sex-trafficking rings. For example, 57-year-old, Illinois-based widow Laura Kowal fell victim to such a scam and was duped into giving her money to the…

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ThursdayMay 09, 2024 10:00 am

Alibaba to Sell Official 2024 Paris Olympics-Branded Products in China

Alibaba Group Holding Ltd. (NYSE: BABA) has partnered with the International Olympic Committee to offer branded products to Chinese Olympic fans through its business-to-consumer (B2C) marketplace, Tmall. The e-commerce conglomerate announced that the Tmall Olympic Store is now selling official Paris-2024-branded products on the same day Paris 2024 commemorated the 100 days remaining before the start of the impending Olympic games. Chinese Olympic fans can now show their excitement and support for the games with a wide range of official branded merchandise as the countdown to the Olympic Games Opening Ceremony begins. This merchandise includes plush toys of the Phryges…

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TuesdayMay 07, 2024 10:00 am

How Telematics, IoT Are Revolutionizing Insurance

Years of consistent technological innovations have brought the global insurance industry on the verge of revolutionary change. Like many other decades-old industries, the insurance segment is long used to using traditional policy pricing and risk-assessment models that have now become the norm among insurance professionals. However, technology doesn't remain static and has advanced a great deal since the insurance industry first came up with the models it now uses to assess client risk and price insurance policies. Cutting-edge digital tools such as telematics and the Internet of Things (IoT) now have the potential to disrupt the insurance industry by helping…

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ThursdayMay 02, 2024 10:00 am

A Look at Alibaba’s Sustainability Initiatives in China

Chinese e-commerce conglomerate Alibaba Group Holding Ltd. (NYSE: BABA) plans to achieve carbon neutrality in its operations by the end of the decade by adopting sustainability practices and cutting carbon emissions across the entirety of its digital ecosystem. With national and international policies pushing corporations toward increased sustainability, Alibaba is poised to meet its carbon targets through a variety of sustainability initiatives in China. The company is now supporting efforts to increase sustainability among its employees, consumers and merchants across China. This includes an early 2024 trial that involved more than 27,000 students saving around two tons of takeaway lunchboxes…

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