In a strategic move to boost its international presence, AliExpress has recently announced that soccer legend David Beckham will be joining forces with the e-commerce platform as its global brand ambassador. This partnership marks a significant step for AliExpress in expanding its reach on a global scale. The deal comes at a crucial time when
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Alibaba, the Chinese e-commerce giant, faced a significant drop in its net profit in the fiscal fourth quarter, causing its shares to plummet. The company reported revenue of 221.9 billion yuan ($30.7 billion), slightly surpassing LSEG consensus estimates. However, its net income attributable to ordinary shareholders declined by 86% year on year, coming in at
Klarna, a Swedish financial technology company, has recently revealed that an overwhelming majority of its workforce is utilizing generative artificial intelligence tools in their daily work routines. This adoption of AI technology has significantly impacted various departments within the company, leading to increased efficiency and streamlined operations. With over 87% of Klarna’s employees now incorporating
European companies in China are grappling with a range of challenges as the country’s economic growth slows down and overcapacity issues rise. According to a recent survey by the EU Chamber of Commerce in China, businesses are finding it harder to turn a profit in the country. In major cities like Shanghai, companies have even
Chinese electric vehicle maker Zeekr has made headlines with its successful initial public offering (IPO) priced at $21 a share, at the top end of its range. The company is set to sell 21 million American depository shares, raising an impressive $441 million when it begins trading on the New York Stock Exchange under the
The absence of a Marvel film to kick off the summer movie season in 2024 marks a significant departure from the trend of the past decade. Marvel Cinematic Universe films have traditionally dominated the summer box office, with high-profile releases generating openings of over $100 million. However, this year, the headline film for the summer
Peloton recently made a significant move by removing its unlimited free-membership tier from its fitness app less than a year after its launch. This decision was made due to the failure of converting free users into paid subscribers, according to the company. The free option for new users, which was once a crucial part of
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