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Oracle Corp’s (NYSE: ORCL)...

Oracle Corp (NYSE: ORCL) falls down to its knees, share dropped over 12.15%...

RTX Corp (NYSE: RTX)...

RTX Corp (NYSE: RTX) experienced a notable decline of -7.22%, amounting to $6.03...

GameStop Corp. (NYSE:GME) Quarter...

GameStop Corp. (NYSE: GME) to announce its second quarter fiscal 2023 results after...

Advanced Micro Devices (NASDAQ:AMD)...

Shares of Advanced Micro Devices (NASDAQ:AMD) drops 0.38% in afterhours in last trading...
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Alibaba Group (NYSE:BABA) Vows to Assist E-Wallets in South Korea as Pouring $1 Billion into Cloud Computing

Alibaba Group Holding Ltd – ADR (NYSE:BABA) rose over 1.16% in pre trading session on Tuesday as travel restrictions loosen across Asia, Alibaba Group Holding Limited (NYSE: BABA) fintech unit Ant Group has vowed to assist four Asian e-wallets in expanding into South Korea with its cross-border payment service Alipay+.

Reuters reports that e-wallet customers utilizing Alipay+, such as the Philippines’ GCash, Malaysia’s Touch’n Go, Thailand’s TrueMoney, and AlipayHK, may now pay at over 120,000 businesses in South Korea using their local mobile payments applications.

Taxis, duty-free shops, and convenience stores will be among the first merchants to become available.

When collecting and analyzing behavioral data for personalized adverts, the corporations neglected to notify service users and gain prior consent.

Alibaba Out to Inject $1 Billion into Cloud Computing

Alibaba announced a $1 billion investment over the next three fiscal years to help its cloud computing clients as the Chinese e-commerce giant seeks to re-ignite development following a record slump.

The investment includes “financial and non-financial incentives, such as cash, rebates, and go-to-market strategies,” according to a press statement issued by Alibaba on Thursday.

The company also stated that it is developing a program to assist its clients in localizing their cloud computing business demands based on the market.

According to Gartner, Alibaba is the world’s third-largest cloud computing company, after only Microsoft and Amazon. While cloud computing is now a minor component of Alibaba’s overall business, management sees it as a crucial component to future development and profitability.

Because to the revival of Covid in the world’s second-largest economy and a harsher domestic regulatory environment. Alibaba has faced an unprecedented halt in growth amid Chinese economic depression. Alibaba disclosed its first-ever flat revenue increase in the April-June quarter.

Revenue growth in the company’s cloud computing sector has also decreased from the previous quarter. Alibaba’s investment announcement is also part of the company’s larger attempt to develop its cloud computing business outside of China.

Alibaba has established additional data centers outside of China in recent years in order to gain clients in regions such as Singapore and Thailand.

Oracle Corp’s (NYSE: ORCL) Cloud Business Faces Headwinds: What Lies Ahead

Oracle Corp (NYSE: ORCL) falls down to its knees, share dropped over 12.15% or $15.21 to trade at $111.50 in pre trading session on...

RTX Corp (NYSE: RTX) Updates 2023-2025 Outlook amid Engine Part Challenge

RTX Corp (NYSE: RTX) experienced a notable decline of -7.22%, amounting to $6.03 per share, bringing its current trading price to $77.45. The company,...

GameStop Corp. (NYSE:GME) Quarter Report: Resilience amidst Market Turbulence

GameStop Corp. (NYSE: GME) to announce its second quarter fiscal 2023 results after the market closes today. Shares were slightly down in the pre-trading...

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Alphabet Inc. (NASDAQ: GOOGL) In Talks to Reduce European IT Jobs After ‘Disastrous’ Layoffs

Shares of Alphabet Inc. (NASDAQ: GOOGL) inches down in pre session on Thursday after big American IT businesses are suddenly discovering how hard it is to decrease personnel in Europe after announcing the greatest rounds of layoffs in their...

Apple Inc. (NASDAQ: AAPL) Unveils Appearance of Its First Retail Location in India

Shares of Apple Inc. (NASDAQ: AAPL) inches down in afterhours trading as many people rushed to get a glance of the store's black and yellow artwork, which was modeled after Mumbai's famous cabs, as the company unveiled the appearance...

Credit Suisse (NYSE: CS) and UBS Group AG (NYSE: UBS) In Flux after Probe into Credit Suisse Acquisition

Credit Suisse (NYSE: CS) and UBS Group AG (NYSE: UBS) shares revamp its position on Tuesday from previous session following the emergency merger of the two lenders was the subject of an inquiry by Switzerland's federal prosecutor. The prosecutor has...

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