On Tuesday, Shares of Alibaba Group Holding Limited (NYSE:BABA), lost -0.03% to $86.09.
Cainiao, the logistics associate of Alibaba Group Holding Limited, declared the establishment of three fresh food distribution centers in three major Chinese cities: Beijing, Shanghai and Guangzhou. The three centers are predictable to support cold chain delivery of fresh food purchased on Taobao Marketplace and Tmall.com to the doorsteps of Chinese consumers within 24 hours.
Cainiao’s cold chain delivery service presently reaches 18 Chinese cities, counting Beijing, Shanghai, Suzhou, Nanjing, Hangzhou and Shenzhen. By the end of 2015, Cainiao plans to expand this service to 50 major Chinese cities. To fulfill the varying needs of customers, the three new distribution centers also support on-demand delivery services, counting delivery on specific dates and times, and night delivery.
Driven by their growing disposable income and healthier eating habits, an increasing number of Chinese consumers are seeking out better quality, freshness and convenience when they shop for food. The demand for quality food has fueled recent growth in online food retailing, which in turn is driving the development of cold chain logistics to serve China’s online population of 618 million.
Alibaba Group Holding Limited, through its auxiliaries, operates as an online and mobile commerce company in the People’s Republic of China and internationally. It operates Taobao Marketplace, an online shopping destination; Tmall, a third-party platform for brands and retailers; Juhuasuan, a group buying marketplace; Alibaba.com, an online business-to-business marketplace that focuses on global trade among businesses; 1688.com, an online wholesale marketplace; and AliExpress, a consumer marketplace.
Shares of Denbury Resources Inc. (NYSE:DNR), inclined 1.75% to $6.96, during its last trading session, as U.S. crude prices rose on Tuesday as a tropical storm moved ashore in the oil-producing state of Texas, but global oversupply limited gains and pressured Brent futures.
Expectations that U.S. crude inventories fell again last week and strong RBOB gasoline futures also lent support, according to Reuters.
U.S. July crude rose 45 cents to settle at $59.97 a barrel, having swung from $59.42 to $60.37.
Brent front-month August crude fell 25 cents to settle at $63.70, off its $64.41 intraday peak and below Brent’s 50-day moving average of $64.01. Reuters Reports.
Denbury Resources Inc. operates as an independent oil and natural gas company in the United States. The company primarily focuses on improved oil recovery utilizing carbon dioxide. It holds properties located in Mississippi, Texas, Louisiana, and Alabama in the Gulf Coast region; and in Montana, North Dakota, and Wyoming in the Rocky Mountain region.
Finally, Terex Corporation (NYSE:TEX), ended its last trade with -3.03% loss, and closed at $23.66.
Terex Corporation, declared that it has closed a new $350 million asset-backed securitization transaction.
The Company also declared it has accomplished a re-pricing of its Euro term loan that is predictable to reduce its cash interest costs by about $1 million annually.
“We are happy to declare the completion of our first securitization facility,” said Kevin Bradley, Terex Chief Financial Officer. “As we continue to grow and expand our Terex Financial Services (TFS) business, achieving a lower cost of funding is very important to our success. The additional liquidity afforded by this facility provides us with a new source of lower cost funds that will be deployed to assist our customers secure equipment financing at competitive rates. It also strengthens our capacity to grow organically. The closing of our new securitization facility, coupled with the re-pricing of our Euro term loans, marks another milestone as we continue to improve our Company’s financial efficiency.”
Terex Corporation operates as a lifting and material handling solutions company. Its Aerial Work Platforms segment designs, manufactures, services, and markets aerial work platform equipment, telehandlers, and light towers, in addition to related components and replacement parts under Terex and Genie names.
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