Markets

Alibaba investment sparks 259% rally in Chinese delivery firm

YTO Express Holdings soared 259% on Wednesday after Alibaba increased its investment stake in the Chinese delivery firm by nearly $US1 billion. Alibaba increased its holding from 10.5% to 22.5% in YTO Express, which is one of China’s largest logistics-services providers. The parent company of YTO Express Holdings, YTO Express […]
Alibaba investment sparks 259% rally in Chinese delivery firm
Markets

Amazon jumps after report says it’s laying off hundreds of workers

Amazon‘s stock jumped after a Seattle Times report said the ecommerce behemoth is planning to lay off hundreds of employees, primarily in its retail division. The layoffs are being conducted amid the company’s expansion plans that includes starting up a new headquarters. Watch Amazon’s stock move in real time here. […]
Amazon jumps after report says it’s laying off hundreds of workers