Tag: giant

Coronavirus: Chinese retail giant Alibaba sees ‘recovery’ after virus

Image copyright Getty Images Chinese e-commerce giant Alibaba said it has seen a “steady recovery” in the country since March, but warned that the path to an economic rebound remains uncertain. The firm’s sales grew 22% in the three months to 31 March, despite virus-related restrictions denting activity. The gain was stronger than expected, driven by demand for groceries, electronics… Read more →

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Coronavirus: Shopping centre giant Intu warns of debt default risk

Image copyright Reuters Image caption Intu’s shopping malls, including Manchester’s Trafford Centre, remain ‘semi-closed’ Shopping centre operator Intu has warned that it risks defaulting on its debts unless its lenders give the firm significant breathing space. The coronavirus pandemic has hit rental income and Intu said there was no certainty how quickly the market would recover once the lockdown is… Read more →