On Thursday, Shares of Alibaba Group Holding Limited (NYSE:BABA), lost -0.37% to $79.96.
Alibaba Group Holding Limited declared that it will invest an additional US$1 billion to fuel further growth at Aliyun, its cloud computing arm, a testament to cloud computing as an important growth area for Alibaba. The additional funding will be used to expand Aliyun’s international presence, extend and support an alliance-based global cloud computing ecosystem, and for the development of new cloud and big data solutions that enable customers to enhance productivity, lower costs and scale quickly as their businesses grow.
“Aliyun has become a world-class cloud computing service platform that is the market leader in China, bearing the fruits of our investment over the past six years. As the physical and digital are becoming increasingly integrated, Aliyun will serve as an essential engine in this new economy,” said Daniel Zhang, CEO of Alibaba Group. “This additional US$1 billion investment is just the starting; our hope is for Aliyun to continually empower customers and partners with new capabilities, and assist companies upgrade their basic infrastructure. We want to enable businesses to connect directly with consumers and drive productivity using data. Ultimately, our aim is to assist businesses successfully transition from an era of information technology to data technology.”
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.
Shares of Citizens Financial Group, Inc. (NYSE:CFG), inclined 2.28% to $26.49, during its last trading session.
Citizens Financial Group, declared that The Royal Bank of Scotland Group plc (“RBS”), through a partner, has launched an underwritten public offering to sell Citizens Financial Group, Inc. common stock (the “Offering”). CFG will not be issuing or selling common stock, and will not receive any proceeds from the Offering.
RBS plans to sell 75 million CFG shares in the Offering. In addition, RBS will grant the underwriters an overallotment option to purchase up to an additional 11.25 million CFG shares.
Completion of the Offering, assuming no exercise of the overallotment option, is predictable to reduce RBS’s ownership stake in CFG common stock from 219 million shares, or 40.8%, to 144 million shares, or 26.8% of CFG’s issued and outstanding common stock. If the overallotment option is exercised in full, RBS’s remaining stake would be 132.7 million shares, or 24.7% of CFG’s issued and outstanding common stock.
Citizens Financial Group, Inc. operates as the bank holding company for Citizens Bank, N.A. and Citizens Bank of Pennsylvania that provide retail and commercial banking products and services in the United States. It operates through two segments, Consumer Banking and Commercial Banking.
Finally, Starwood Hotels & Resorts Worldwide Inc. (NYSE:HOT), ended its last trade with -5.38% loss, and closed at $78.20.
The Luxury Collection® Hotels & Resorts, one of the world’s largest and fastest growing luxury hospitality brands, recently declared the completion of a multi-million dollar renovation to Hotel Ivy, a Luxury Collection Hotel, Minneapolis. Part of Starwood Hotels & Resorts (HOT), The Luxury Collection is investing in marquee hotel conversions and landmark renovations in diverse U.S. destinations, counting Key West, Lake Tahoe, San Antonio and San Francisco, as the brand continues to grow around the world. A milestone year for the brand, The Luxury Collection is on track to surpass 100 hotels in more than 30 countries by the end of 2015.
Hotel Ivy’s transformation comprises redesigned hotel guestrooms and public spaces, counting a new street-level bar and lounge; Monello restaurant featuring classic coastal Italian fare; and Constantine, a subterranean bar offering a fresh twist on traditional recipes. The hotel’s new and much-anticipated dining experiences are the latest partnership between Minneapolis’ leading hospitality companies, Wischermann Partners and Jester Concepts.
Starwood Hotels & Resorts Worldwide, Inc., together with its auxiliaries, operates as a hotel and leisure company worldwide. The company owns, operates, and franchises luxury and upscale full-service hotels, resorts, residences, retreats, select-service hotels, and extended stay hotels under the St. Regis, The Luxury Collection, W, Westin, Le Méridien, Sheraton, Four Points, Aloft, and Element brand names.
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