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PDD Holdings Inc

CNBC Daily Open: ‘Crazy’ summer

by Nevil Nickel
CNBC Daily Open: ‘Crazy’ summer

Traders work on the floor of the New York Stock Exchange during morning trading on Aug. 20, 2024. Michael M. Santiago | Getty Images This report is from today’s CNBC …

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Shein sues Temu over copyright infringement, trade secret theft

by Mark McDuffie
Shein sues Temu over copyright infringement, trade secret theft

Shein and Temu. Yuki Iwamura | Bloomberg | Stefani Reynolds | AFP | Getty Images Chinese-linked fast fashion giant Shein is suing rival Temu, alleging the retailer stole its designs …

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Alibaba, JD.com results underscore the slowdown in Chinese consumer demand

by Merchant Moller
Alibaba, JD.com results underscore the slowdown in Chinese consumer demand

A person seen walking next to the Alibaba’s corporate logo, in front of its office building at Chaoyang Technology Park in Beijing, China. Sopa Images | Lightrocket | Getty Images …

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Alibaba shares dip 3% in premarket after earnings miss expectations despite cloud acceleration

by Sipho Sepamla
Alibaba shares dip 3% in premarket after earnings miss expectations despite cloud acceleration

Signage at the Alibaba Group Holding Ltd. headquarters in Hangzhou, China, on Friday, Aug. 2, 2024. Qilai Shen | Bloomberg | Getty Images Alibaba missed top and bottom line expectations …

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China’s exporters enjoyed the benefits of a weak yuan. Now that’s changing and cutting into profits

by Merchant Moller
China’s exporters enjoyed the benefits of a weak yuan. Now that’s changing and cutting into profits

A bank employee count China’s renminbi (RMB) or yuan notes next to U.S. dollar notes at a Kasikornbank in Bangkok, Thailand, January 26, 2023. Athit Perawongmetha | Reuters BEIJING — …

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Temu, Shein soaring popularity could hit Amazon, Meta, eBay earnings

by Sipho Sepamla
Temu, Shein soaring popularity could hit Amazon, Meta, eBay earnings

In just 17 days after launch, Temu surpassed Instagram, WhatsApp, Snapchat and Shein on the Apple App Store in the U.S., according to Apptopia data shared with CNBC. Stefani Reynolds …

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China’s 618 e-commerce festival sees a decline in sales for the first time in 8 years

by Merchant Moller
China’s 618 e-commerce festival sees a decline in sales for the first time in 8 years

A Chinese shopper buys goods online in Zhoushan city, East China’s Zhejiang province, June 18, 2024. Cfoto | Future Publishing | Getty Images China’s annual 618 mid-year e-commerce festival saw …

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Temu parent PDD takes Alibaba spot as China’s most valuable e-commerce firm

by Sipho Sepamla
Temu parent PDD takes Alibaba spot as China’s most valuable e-commerce firm

Chinese e-commerce giant Pinduoduo has been behind its rivals Alibaba and JD.com when it comes to international expansion. Now Pinduoduo has launched a U.S. e-commerce site called Temu. Rafael Henrique …

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Alibaba’s global arm signs David Beckham as international e-commerce brand ambassador

by Merchant Moller
Alibaba’s global arm signs David Beckham as international e-commerce brand ambassador

Alibaba’s international e-commerce platform AliExpress is a UEFA Euro 2024 sponsor and has signed David Beckham as its global brand ambassador. AliExpress BEIJING — Soccer star David Beckham will promote …

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China’s ‘Magnificent Seven’ gets new ETF

by Merchant Moller
China’s ‘Magnificent Seven’ gets new ETF

Roundhill Investments wants to mimic the success of its Magnificent Seven ETF (MAGS) in China. The firm’s CEO Dave Mazza plans to launch the Lucky Eight ETF, which aims to …

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