Good Morning. Welcome to The Wire’s daily news roundup. Each day, our staff gathers the top China business, finance, and economics headlines from a selection of the world’s leading news organizations.
The Wall Street Journal
Jack Ma’s Ant Group Produces $3.5 Billion Profit in Six Months as IPO Looms — The Chinese financial-technology giant backed by billionaire Jack Ma earned roughly $3.5 billion over a recent six-month period, showing how lucrative the company’s business has been as it gears up for a blockbuster IPO.Alibaba’s Online Orders Soar During Coronavirus, Fueling a Sales Recovery — The Chinese e-commerce giant says its fiscal first-quarter profit more than doubled from the same period a year earlier, mirroring the results of U.S. tech giants that have thrived as disruption from the coronavirus pandemic accelerated a migration online.
The Financial Times
Hong Kong/investment banking: Chinese wall — China’s mainland dealmakers prepare to se
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