On Monday, Shares of Alibaba Group Holding Ltd (NYSE:BABA), lost -3.09% to $57.41.
Alibaba Group Holding, Ant Financial Services Group and One97 Communications, the parent company of Paytm, India’s largest mobile payment & commerce platform, declared recently a contract under which Alibaba and Ant Financial have agreed to make a planned investment in Paytm. Ant Financial made its initial investment in Paytm in February 2015 while Alibaba will become a new investor in Paytm after the completion of the transaction.
The fresh capital infusion will allow Paytm to achieve scale and develop its vibrant mobile commerce and payment ecosystem in India and invest in marketing, technology and talent. Investing in Paytm will enhance the ability of Alibaba and Ant Financial to tap opportunities in India’s fast-growing mobile e-commerce marketplace and digital finance industry.
Ant Financial has been developing synergies with Paytm since its initial investment in February of this year. Ant Financial’s further investment in Paytm with this transaction demonstrates the company’s confidence in India’s digital payment sector. Ant Financial and Paytm will continue to capitalize on opportunities in mobile wallet to offer Indian consumers comprehensive products and services and to tap the noteworthy potential of the India mobile payment market.
Alibaba Group Holding Limited is a holding company. The Company is principally engaged in online and mobile commerce through products, services and technology.
Shares of Corning Incorporated (NYSE:GLW), declined -1.33% to $16.35, during its last trading session.
Xtera Communications, Inc., a leading global provider of optical networking solutions, and State Grid Information & Telecommunication (SGIT) of China, the telecommunication arm of the world’s largest power grid builder and operator, declared the demonstration of record unrepeatered transmission distances using Xtera’s commercial Wise Raman™ solution and large effective area ultra-low loss fiber from Corning Incorporated (NYSE: GLW), a leading provider of optical fibers. With the support of Accelink, Xtera’s partner in China, 100G and 10G transmissions were demonstrated over 627 km and 645 km, respectively, with no active equipment between the end points of the links.
These industry’s leading achievements outline the unrivaled unrepeatered reach performance obtained by combining Xtera’s Wise Raman™ optical amplification solution and Corning® Vascade® EX2000 optical fiber. Both products are commercially available recently and already deployed in the field.
Ultra-long, “thin” (low-capacity) unrepeatered transmission systems provide a cost-effective and simpler-to-operate solution over a repeatered solution for many applications, counting subsea links connecting sparsely populated islands and communication links to offshore oil and gas platforms, and over power utility grids to remote areas.
Corning Incorporated (Corning) is engaged in the manufacture of specialty glass and ceramics. The Company creates and makes keystone components that enable systems for consumer electronics, mobile emissions control, optical communications and life sciences.
Shares of American Airlines Group Inc (NASDAQ:AAL), declined -2.88% to $39.08, during its last trading session.
American Airlines Group will add new service to Merida, Mexico – a new destination for its global network – providing more service to the country than any other American carrier. New service will start on March 3, 2016 to Manuel Crescencio Rejon International Airport (MID) from Dallas/Fort Worth International Airport (DFW).
Customers may start booking flights for this new route this Sunday, Oct. 4.
American is in the midst of more than $2 billion in planned improvements to give customers a superior travel experience around the world. These capital investments comprise fully lie-flat seats; international Wi-Fi; more in-flight entertainment options and power outlets; a new, modern design for Admirals Club lounges worldwide; and an upgraded assortment of complimentary healthy food, cocktails and more. For more information on American’s $2 billion investment, please visit aa.com/goingforgreat.
American Airlines Group Inc. (AAG) is a holding company and its wholly-owned subsidiaries include American Airlines, Inc. (American), US Airways Group, Inc. (US Airways Group) and Envoy Aviation Group Inc. (Envoy). US Airways Group’s principal subsidiary include US Airways, Inc.
Finally, Delta Air Lines, Inc. (NYSE:DAL), ended its last trade with -3.03% loss, and closed at $44.66.
A federal judge last morning heard opening statements in Southwest Airlines’ bid to boost its dominance at Dallas Love Field by banishing rival Delta Air Lines from the city-owned airport, according to Business Journals.
Dallas-based Southwest and Atlanta-based Delta are duking it out in the battle over Love Field’s Gate 15, which is one of 20 at the airport. Southwest already flies out of 18 of the airport’s 20 gates.
In addition to Southwest and Delta, U.S. District Judge Ed Kinkeade is planned to hear arguments from the City of Dallas and the U.S. Department of Transportation this week before ruling on whether Delta should be allowed to continue operating five daily flights at Dallas Love Field.
Southwest paid United Airlines $120 million to buy out its lease on two gates at Love Field that runs until 2028, lawyers for Southwest said in the court hearing Monday. Business Journals Reports
Southwest attorney Britta Stanton said Delta, by offering five flights per day out of Gate 15, is trespassing on property that Southwest has the legal right to use as it desires.
Delta should fly out of Dallas/Fort Worth International Airport, where Southwest is restricted from flying, and leave the disputed gate at Love to Southwest, Stanton said. She said a federal law prevents Southwest from flying out of D/FW unless it gives up gates at Love. The airports are eight miles apart. Business Journals added.
Delta Air Lines, Inc. (Delta) provides scheduled air transportation for passengers and cargo throughout the United States and around the world. The Company’s route network is centered on a system of hub and international gateway airports that it operates in Amsterdam, Atlanta, Detroit, Los Angeles, Minneapolis-St. Paul, New York-LaGuardia, New York-JFK, Paris-Charles de Gaulle, Salt Lake City, Seattle and Tokyo-Narita.
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