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Alibaba.com posts slowest quarterly growth in almost 2 years
Nov 24th, 2011
SHANGHAI (Reuters) - Alibaba.com, China's largest e-commerce firm, posted an 11.9 percent rise in quarterly net profit, its slowest growth in nearly two years, with the company raising concerns due to a weak trade outlook stemming from debt woes in Europe and the United States. The third-quarter results missed analyst forecasts and were attributed to a weak macroeconomic climate that led to a slower pace of customer additions. ... (Source: Reuters) -
(Reuters) - China's Sina Corp said e-commerce company Alibaba Group has bought an 18 percent stake in its microblogging service, Weibo, for about $586 million. Sina has also granted an option to Alibaba to increase its stake in Weibo to up to 30 percent within a stipulated time. (Reporting by Supantha Mukherjee in Bangalore; Editing by Saumyad... [Full Article]
By Margaret Chadbourn WASHINGTON (Reuters) - Freddie Mac , the No. 2 provider of U.S. mortgage money, posted its second-largest quarterly profit in company history in the first quarter due to rising home prices, falling mortgage delinquencies and increased refinance activity. For the first three months of the year, the government-controlled company... [Full Article]
NEW YORK (Reuters) - Cisco Systems Inc posted a higher than expected quarterly profit, suggesting that technology spending could be picking up for the network equipment maker's customers. Cisco shares rose about 5 percent after Chief Executive John Chambers said in a statement that the company was seeing good signs in a "slow, but steady ... [Full Article]
MUMBAI (Reuters) - Standard & Poor's expects India to grow around 6 percent in the current fiscal year ending March 2014, said credit analyst Takahira Ogawa. The rating agency also does not expects any significant improvement in structural reforms in India, Ogawa said in a teleconference, after reiterating in a release the negative outlook... [Full Article]
WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits dropped to its lowest level in nearly 5-1/2 years last week, signaling labor market resilience in the face of fiscal austerity. Initial claims for state unemployment benefits fell 4,000 to a seasonally adjusted 323,000, the lowest level since January 2008, th... [Full Article]
NEW YORK (Reuters) - Consumer sentiment rebounded in early May to the highest level in nearly six years as Americans felt better about their financial and economic prospects, particularly among upper-income households, a survey released on Friday showed. The Thomson Reuters/University of Michigan's preliminary reading on the overall index on c... [Full Article]
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