Alibaba spins off $12 billion cloud business | WION Business Watch

Alibaba, the heavyweight champion of e-commerce, plans to launch an IPO for its logistics and grocery arms while hiving off its cloud business. This strategic breakup aims to reignite Alibaba’s revenue growth. The company recently reported its third consecutive quarter of single-digit revenue growth, raising concerns about the Chinese consumer spending rebound.

#alibaba #china #latestnews

About Channel:

WION The World is One News examines global issues with in-depth analysis. We provide much more than the news of the day. Our aim is to empower people to explore their world. With our Global headquarters in New Delhi, we bring you news on the hour, by the hour. We deliver information that is not biased. We are journalists who are neutral to the core and non-partisan when it comes to world politics. People are tired of biased reportage and we stand for a globalized united world. So for us, the World is truly One.

Please keep discussions on this channel clean and respectful and refrain from using racist or sexist slurs and personal insults.

Subscribe to our channel at https://goo.gl/JfY3NI
Check out our website: http://www.wionews.com
Connect with us on our social media handles:
Facebook: https://www.facebook.com/WIONews
Twitter: https://twitter.com/WIONews

Follow us on Google News for the latest updates

Zee News:- https://bit.ly/2Ac5G60
Zee Business:- https://bit.ly/36vI2xa
DNA India:- https://bit.ly/2ZDuLRY
WION: https://bit.ly/3gnDb5J
Zee News Apps: https://bit.ly/ZeeNewsApps