Alibaba Group, China’s most valuable company with a market capitalization of $800+ billion, is paying $3.6 billion to gain more control of Sun Art Retail Group, which operates 480+ large supermarket stores. As in the U.S. and elsewhere, COVID-19 has seen many consumers shift to online shopping for food and other essentials. In 2017, Alibaba acquired a 36 percent stake in Sun Art for about $2.9 billion. With the latest purchase, Alibaba will own about 72 percent of the company and is positioned to compete with Walmart. Continue reading Alibaba Buys Majority Stake in Big-Box Grocery Store Chain

After three consecutive quarters of falling revenue, Apple is now experiencing strong demand for its iPhone 7, with a record number of iPhone shipments for the quarter ending December 2016. Despite that good news, the iPhone 7 failed to deliver the double-digit increase in sales that previous new iPhone models typically did in the first quarter after their debut. The iPhones, accounting for two-thirds of the company’s sales, pushed revenue up 3 percent to a record $78.4 billion. Apple’s service business is also booming. Continue reading Apple Notes iPhone Sales Increase, Looks to Expand Services