Chinese e-commerce giant Alibaba Group raised up to $12.9 billion in a landmark listing in Hong Kong, the largest share sale in the city in nine years and a world record for a cross-border secondary share sale.
Alibaba Group chairman Jack Ma will step down from the Chinese firm on Tuesday, leaving his handpicked successor a daunting task of steering the $460bn firm when the market for its core e-tail business has slowed.
On Wednesday September 4, the sixth edition of the LVMH Prize for emerging fashion designers was awarded in Paris to South African designer Thebe Magugu, while the Karl Lagerfeld Prize went to Hed Mayner from Israel.
WhatsApp will roll out its payments service in India this year following a year-long pilot, its global chief has said, as the Facebook-owned messaging giant taps an upsurge in digital payments in its dominant market.
Ebay said on Wednesday it would launch warehousing and shipping service for merchants selling through its platform starting next year, a new strategy that is expected to attract more sellers to the e-commerce platform.
Fast Retailing has become the latest retail giant to announce a major sustainability initiative with “plans to eliminate the use of unnecessary plastic throughout its supply chain and handed to customers” by next year.