Company briefs: Alibaba
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Alibaba
Euphoria surrounding Alibaba Group's primary listing plan has evaporated in just two sessions, as focus shifts to the company's earnings announcement due next week.
Shares of the e-commerce giant slid 1.8 per cent yesterday, putting it back at levels seen before announcing it would seek the listing status.
The reversal is another reminder that sentiment towards Chinese tech shares remains fragile as investors search for clues on the earnings outlook.
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Etihad Airways
Etihad Airways posted a record first-half profit as long-haul travel revived with the easing of coronavirus curbs and the Gulf carrier added flights to European resorts to tap pent-up demand for vacations.
The Abu Dhabi-based company had a core operating profit of US$296 million (S$408.7 million) in the first six months, compared with a loss of US$392 million a year earlier, even after fuel costs increased by almost 60 per cent, it said in a statement yesterday.
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FTX
Crypto exchange FTX US is expanding its no-fee stock trading service to all US users, including non-crypto investors, in a move to expand its customer base and increase assets under custody.
The company also plans to add options trading.
A key difference for FTX US' equity trading offering is that it does not accept payment-for-order-flow, a controversial process in which wholesale companies pay for the right to execute orders coming from the brokerage's retail investors.
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