Alibaba shares fall 5% in premarket trading after posting 86% profit drop
Alibaba posted a beat on revenue in its fiscal fourth quater ended March, but the Chinese e-commerce giant’s net profit plunged.
Financial News
Britain faces its ‘most dangerous’ years in history, PM Rishi Sunak warns in preelection bid
The British Prime declared Monday that Britain is at a “crossroads” as he seeks to reignite waning support for his ruling Conservative Party.
How American carmakers lost ground in China
Detroit automakers like General Motors made a fortune selling cars to Chinese consumers. But Chinese firms have caught up.
The U.S. is now Germany’s biggest trading partner — taking over from China
After years of China being Germany’s main trading partner, the U.S. quietly overtook that spot in the first quarter of the year, data calculations show.
Traders reassess Bank of England rate cuts as UK grows at fastest rate in nearly 3 years
A slew of commentary from the Bank of England and a better-than-expected economic growth number have left traders and investors scrambling to refine their bets.
Bank of England holds rates, stresses June cut depends on coming data
The Bank of England confirmed a widely-expected hold in interest rates following its May meeting on Thursday.
U.S. and China trade divisions threaten a ‘reversal’ for global economy, IMF official warns
Strained relations between Western and Chinese-aligned economic blocs could cause a “reversal” in global economic growth, an IMF official warns.
French cognac makers surge as Macron hints at cooling of China trade dispute
Shares of French cognac makers rallied on Tuesday after France’s Macron indicated that trade tensions between the EU and China about cognac imports may ease.
Israeli military tells Palestinian civilians in parts of Rafah to ‘evacuate immediately’
The White House and United Nations have urged Israel against an offensive in Rafah, warning of catastrophic humanitarian consequences.
Warren Buffett says Berkshire Hathaway is looking at an investment in Canada
The Oracle of Omaha noted that he is ‘confident’ in placing bets in the country.