On Monday, Alibaba Group Holding Ltd (NYSE:BABA)’s shares inclined 1.05% to $80.58.
Alibaba Group Holding Limited (BABA) declared that it has reached a definite agreement to acquire the South China Morning Post (SCMP) and other media assets of SCMP Group Limited (0583.HK).
The agreement combines the heritage and editorial excellence of the SCMP with Alibaba’s digital expertise to provide comprehensive and insightful news and analysis of the big stories in Hong Kong and China.
“The South China Morning Post is unique because it focuses on coverage of China in the English language. This is a proposition that is in high demand by readers around the world who care to understand the world’s second largest economy,” said Joe Tsai, executive vice chairman of Alibaba Group. “Our vision is to expand the SCMP’s readership globally through digital distribution and easier access to content.”
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.
Travelport Worldwide Ltd (NYSE:TVPT)’s shares gained 1.14% to $13.36.
Travelport (TVPT), a leading Travel Commerce Platform, declares the appointment of Bernard Bot as Executive Vice President and Chief Financial Officer (CFO). Bot joins Travelport on January 1, 2016, from Aer Lingus Plc, Ireland’s national airline, where, as the airline’s Chief Financial Officer, he played an instrumental role in concluding the recent €1.4bn takeover by IAG (International Airlines Group), the parent group of both British Airways and Iberia.
A Dutch national, who also speaks fluent English and French, Bot will be based in the company’s global headquarters in Langley, UK, and will report into President and CEO, Gordon Wilson. He will take over as head of Travelport’s finance function which comprises investor relations, M&A, treasury, tax, financial planning and analysis, audit, controllership and procurement.
Bot will replace incumbent CFO, Philip Emery, who will be taking a break in his career to spend more time with his family, and the two will work together during the first few months of 2016 to ensure a smooth handover of duties. Emery will also continue in his role as a board member of Travelport controlled auxiliaries, eNett and Locomote, until he leaves the company in 2016.
Travelport Worldwide Limited offers travel commerce platform that provides distribution, technology, payment, and other solutions for the travel and tourism industry in the United States, the United Kingdom, and internationally.
At the end of Monday’s trade, Spectra Energy Corp. (NYSE:SE)‘s shares surged 0.48% to $22.82.
Union Gas is holding an open season for incremental firm capacity of up to 350,000 GJ/d startning in 2018 and an additional 600,000 GJ/d in 2019 along the following transportation paths:
(a)
Dawn to Parkway;
(b)
Dawn to Kirkwall; and
(c)
Kirkwall to Parkway.
The open season offers firm access to the liquidity and diversity of the Dawn Hub in addition to access to Appalachian supply predictable to be available at the Dawn Hub imported through Dawn, Niagara and Chippawa in 2018 and 2019. Customers in eastern Canada and the U.S. Northeast can access these supply points by aligning Union Gas transportation service with capacity on TransCanada and interconnecting systems in the U.S.
Union Gas is a Spectra Energy (SE) company with assets of $7 billion and about 2,200 employees.
Spectra Energy Corp, through its auxiliaries, owns and operates a portfolio of natural gas-related energy assets in North America. The company’s Spectra Energy Partners segment engages in the transmission, storage, and gathering of natural gas, in addition to transportation and storage of crude oil and natural gas liquids (NGLs) for customers in various regions of the midwestern, northeastern, and southeastern United States and Canada.