On Wednesday, Shares of Alibaba Group Holding Limited (NYSE:BABA), gained 5.14% to $64.04.
Alibaba Group Holding Limited’s executive vice chairman, Joe Tsai, said the Chinese e-commerce giant was “not too worried” about the impact of the economic slowdown on its core online shopping business, saying Chinese consumers are likely to keep spending, according to WSJ.
The comments by Mr. Tsai in a phone interview came two days after Alibaba’s head of investor relations, Jane Penner, indicated that the slowdown would slightly dent the company’s online sales volume for the current quarter. WSJ Reports
Mr. Tsai said Alibaba would address the slowdown by ongoing to broaden the categories of merchandise available on Alibaba’s platforms for people to buy. WSJ added.
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 wholesale marketplace; Alitrip, an online travel booking platform; 1688.com, an online wholesale marketplace; and AliExpress, a consumer marketplace.
Shares of General Motors Company (NYSE:GM), declined -0.87% to $29.62, during its last trading session.
GM and its joint ventures in China recorded a 4.8% year-over-year decrease in domestic sales for Aug 2015, taking the figure to 248,815 vehicles. The year-over-year decline in sales was due to weakness in the overall vehicle market. The automaker stated a drop in China sales for the fourth time in the last five months.
General Motors and its joint ventures in China stated a 2.3% year-over-year improvement in retail sales in the first eight months of 2015, taking the figure to 2,197,192 vehicles. The rise in sales was driven by successful new product launches, together with an improved mix of SUVs and MPVs.
General Motors Company designs, builds, and sells cars, crossovers, trucks, and automobile parts worldwide. It operates through GM North America, GM Europe, GM International Operations, GM South America, and GM Financial segments.
Finally, Nucor Corporation (NYSE:NUE), ended its last trade with -2.37% loss, and closed at $41.55.
Nucor Corporation declared that its board of directors has elected Laurette T. Koellner as a director effective right away.
Ms. Koellner, 60, most recently served as Executive Chairman of International Lease Finance Corporation, a partner of American International Group, Inc. (“AIG”), from 2012 until its sale to AerCap Holdings N.V. in 2014. She stepped down as President of Boeing International, a division of The Boeing Company, in 2008. Ms. Koellner joined Boeing in 1997 and held a variety of financial and business leadership positions during her more than 11-year tenure with the company, counting serving as President of Connexion by Boeing. At Boeing, she was also a member of the Office of the Chairman and served as Executive Vice President, Internal Services, Chief Human Resources and Administrative Officer, President of Shared Services, in addition to Corporate Controller.
Before her time with Boeing, Ms. Koellner spent 19 years at McDonnell Douglas Corporation, which was attained by Boeing. She held a number of administration roles of increasing responsibility, counting Vice President and Corporate General Auditor.
Ms. Koellner holds a Bachelor of Science degree in business administration from the University of Central Florida and a Masters of Business Administration degree from Stetson University.
Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. It operates through three segments: Steel Mills, Steel Products, and Raw Materials.
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