Monday , October 23 2017

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Alibaba to buy lossmaking Cainiao for $800 million

epa05290364 (FILE) A file photo dated 16 March 2016 showing the Alibaba.com stand at the CeBIT computer show in Hanover, Germany. Alibaba Group is to release their unaudited financial results for the quarter and fiscal year ended March 31, 2016 on 05 May 2016.  EPA/MAURITZ ANTIN

Bloomberg Alibaba Group Holding Ltd. will buy control of unprofitable delivery business Cainiao for 5.3 billion yuan ($800 million) and spend billions of dollars more to expand a shipping network that spans the world’s largest e-commerce market. China’s largest web marketplace agreed to increase its stake in Cainiao Smart Logistics ...

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After London bans Uber, New York weighs limits to help yellow cabs

epa00168180 New York City cabs drive South through Times Square following celebrations for the 100th anniversary of Times Square in New York City Wednesday 07 April 2004.  EPA/ANDREW GOMBERT

Bloomberg A week after London moved to revoke Uber Technologies Inc.’s operating license, the company and its electronic ride-hailing competitors are feeling the heat in New York as city officials consider moves to regulate and control the industry. The City Council was considering a six-month study of Uber’s impact on ...

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Hurricane Maria punishes US refineries without touching land

epa01315059 (FILE) A file photograph showing the BP Carson Oil Refinery in Carson, California, USA, 03 March 2008. The price for crudes produced by the Organization of the Petroleum Exporting Countries (OPEC) peaked above 104 US dollars for the first time on 14 April 2008, OPEC said on 15 April 2008. OPEC followed international bullish trends on Monday. In New York, Nymex WTI ended 14 April 2008 trading at 111.76 US dollars per barrel, the highest settlement on record, while Brent crude also posted a new high.  EPA/ANDREW GOMBERT

Bloomberg Hurricanes sometimes don’t need to make landfall to cause problems for US refineries. At least two East Coast refineries are making less gasoline and diesel as rough Atlantic seas hamper the transfer of crude oil from ships to barges for delivery to the facilities, people familiar with operations say. ...

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