Alibaba Group plans to merge its food delivery units and raise funds for the combined business, intensifying a battle with Tencent-backed Meituan Dianping for dominance of China's booming on-demand services market.
China’s market regulator said on Friday that after a meeting with online discounter Pinduoduo Inc the company agreed to step up vetting of the products listed on its platform amid reports of counterfeiting.
Carrefour CEO Alexandre Bompard on Thursday expressed confidence in his turnaround strategy after Europe’s largest retailer posted a stronger-than-expected 5.8 percent rise in first-half operating profits.
Chinese online group discounter Pinduoduo Inc priced its U.S. IPO at $19 per American depositary share (ADS), raising $1.63 billion in the second-biggest U.S. float by a Chinese firm this year, according to sources.
Chinese internet giant Tencent will only take its social networking platforms, music and gaming services to an international audience if it believes there is a gap in the market it can fill, a senior said on Thursday.