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Added on the 07/05/2015 16:39:57 - Copyright : Reuters EN
Chinese e-commerce giant Alibaba reported a 59 percent jump in quarterly revenue, surpassing Wall Street. Bobbi Rebell reports.
Jack Ma's Chinese online marketplace Alibaba surged as much as 7% in Wednesday trades. According to Business Insider, the bump came on the news that Americans wouldn't be banned from investing in the e-commerce behemoth. Alibaba, Baidu, and Tencent were among a number of Chinese-based companies being eyed by the US Defense Department. The DOD has a list of firms that it believes support China's military, intelligence, and security services. Chinese telecom stocks like China Mobile had been added to the Defense Department list, and trading in the US-listed stock shuttered on Monday.
The first official budget figures since Britain voted to leave the EU show a smaller-than-expected budget surplus. As post-referendum data continues to trickle in, attention is turning to what sort of access Britain will seek with its main trading partners in the EU. Kirsty Basset reports.