Alibaba Group beat third quarterly revenue estimates on Thursday, driven by e-commerce growth after China emerged from coronavirus lockdowns, and said it was assessing the suspension of its affiliate Ant Group's listing. Ciara Lee reports
Alibaba and JD.com said the United States was the top seller of goods to China during the Singles' Day shopping extravaganza that generated about $116 billion in merchandise volume for the pair. Bryan Wood reports.
China's Alibaba said orders on its e-commerce platforms during the Singles' Day shopping extravaganza had exceeded $56 billion by Wednesday morning, as lockdown-weary consumers splashed out on as many as 16 million discounted goods. Francis Maguire reports.
The Wall Street Journal reported Pfizer cut the number of vaccines it planned to ship in 2020. According to Business Insider, this is due to supply chain delays. Sources say Pfizer sourced materials and set up supply chains while developing a vaccine. This is an "unprecedented" move in the world of medicine and vaccine development. But Pfizer and BioNtech maintain they will produce 1.3 billion doses by the end of 2021.
UPS has told drivers to stop picking up packages from some large retailers during the holiday season. Business Insider reports the move is just temporary. This year is expected to be busier than usual for carries. More retailers are relying on online orders for holiday shopping. UPS has told drivers to stop picking up packages from some large retailers as the holiday shipping season picks up.
On Wednesday, December 2nd, the US coronavirus outbreak set grim new records. 3,100 Americans died, a new high. Business Insider reports number of virus hospitalizations passed 100,000. The US is still the worst-affected country in the world. Officials are issuing dire warnings about the months ahead. President Donald Trump is barely mentioning the virus. He is still fixated on his election loss a full month after voting ended.
The mayor of Austin, Texas, told his constituents on a video call last month to 'stay home' and avoid unnecessary travel. The message was a bid to stem the spread of the novel coronavirus in the city and across Texas, as COVID-19 patients are already overwhelming hospitals. But according to Business Insider, Mayor Steve Adler, a Democrat, neglected to mention where he was when he filmed the public service announcement.
The NY Times reports that Pres. Elect Joe Biden plans to keep Christopher Wray on as FBI Director. A senior Biden official told The Times Biden was "not removing the FBI director unless Trump fired him." Business Insider speculated the move is part of the Biden team's broader effort to restore trust intelligence and justice systems. The institutions which have been in place to protect Americans has become overtly politicized under the Trump administration.