On Tuesday, Shares of Alibaba Group Holding Limited (NYSE:BABA), lost -0.76% to $79.62, hitting its lowest level.
Alibaba Group Holding, declared it has invested in Mei.com, China’s leading flash sales platform for luxury and fashion products. This cooperation will enhance Mei.com’s supply chain services of the sales of limited time discounted quality products from well-known international luxury and fashion brands to consumers in China.
The investment will enable Alibaba Group to integrate resources from its B2C platform Tmall.com, China’s largest third-party platform for brands and retailers, to form a specialized services team to support Mei.com’s development and assist them in growing their user base, brand cooperation base, logistic services and IT infrastructure services. Mei.com’s close cooperation with a wide selection of luxury brands will complement Tmall.com’s existing selection of affordable luxury goods for Chinese consumers.
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 Twenty-First Century Fox, Inc. (NASDAQ:FOXA), inclined 0.34% to $32.68, during its last trading session, as the Women’s World Cup on Sunday set a new soccer viewership record with 20.3 million viewers, Reuters reports.
The match in Vancouver, which saw the U.S. women beat Japan 5-2, was broadcast live by Fox television, and was by far the most-watched TV broadcast of the night, Nielsen figures showed.
Twenty-First Century Fox, Inc. operates as a diversified media and entertainment company worldwide. It operates through Cable Network Programming, Television, Filmed Entertainment, and Direct Broadcast Satellite Television segments.
Finally, CME Group Inc. (NASDAQ:CME), ended its last trade with 0.70% gain, and closed at $95.24.
CME Group Executive Chairman and President Terry Duffy will appear before the U.S. House Committee on Agriculture on Wednesday, July 8, to talk about How Lifting the Oil Export Ban Impacts the Rural Economy and Futures Markets.
“In the 1970’s, the U.S. government imposed a ban on the export of crude oil that put our nation’s energy producers at a competitive disadvantage and harmed market efficiency,” said Duffy. “Repealing this decades-old ban would strengthen the position of the U.S. as an energy leader, benefit energy markets through more robust price discovery, and benefit our economy by eliminating needless barriers to trade in crude oil.”
“The good news is that Congress and the Administration have the tools to fix this and we are encouraged by the growing bipartisan support to repeal this outdated policy. I applaud Chairman Conaway and Ranking Member Peterson, and urge Congress and the Administration to repeal the ban on crude oil exports and let the market decide.”
The hearing is planned for 10 a.m. Eastern time in the Longworth House Office Building. Duffy’s written testimony will be accessible on www.cmegroup.com at that time.
CME Group Inc., through its auxiliaries, operates contract markets for the trading of futures and options on futures contracts worldwide. It offers a range of products for trading and/or clearing across various asset classes, based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, and metals.
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