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Yahoo BusinessJul 12, 2020
Alibaba's CEO Sets Out Ambitious Goals; Sees 2B Customers By 2036
In his first letter to shareholders, Alibaba's (BABA) CEO Daniel Zhang has set out a series of ambitious goals for the Chinese e-commerce giant.BABA's goal is to serve more than 1 billion consumers in China and facilitate more than RMB10 trillion of consumption on the company's platforms in the next five years as ‘we continue on the path of globalization'.Longer-term, Zhang wants BABA to serve 2 billion consumers globally, create 100 million jobs and provide the necessary infrastructure to support 10 million small businesses to become profitable on the company's platforms by 2036."We will continue to pursue our three strategic pillars of globalization, China domestic consumption and big data powered by cloud computing" the CEO said."Globalization is our long-term battle; Chinese domestic consumption is our cornerstone battle and big data powered by cloud computing is our battle for the future" he wrote.Zhang also pointed out that this year the company has migrated its core system onto the public cloud, paving the way to build a cloud-native infrastructure for the future, and held a secondary listing in Hong Kong."During this past fiscal year, despite the impact of the pandemic, Alibaba still delivered on a strategic goal that we had established five years ago, which was to surpass US$1 trillion in GMV. This was an important milestone for Alibaba, especially in the context of US$6 trillion in total annual retail sales of consumer goods in China today" Zhang wrote.The SEC filing also showed that B

Google Business NewsJul 11, 2020
Trump wears face mask in public for first time during coronavirus pandemic - Fox News
Trump wears face mask in public for first time during coronavirus pandemic  Fox NewsTrump wears a mask during visit to wounded service members at Walter Reed  CNNTrump wears mask in public for first time during pandemic  AOLTrump Says He ‘Aced' a Cognition Test. What Does That Tell Us?  The New York TimesDeroy Murdock: To be reelected, Trump must broaden his base — not fight on Twitter  

Google Business NewsJul 11, 2020
Fauci is sidelined by the White House as he steps up blunt talk on pandemic - The Washington Post
Fauci is sidelined by the White House as he steps up blunt talk on pandemic  The Washington PostRift grows between Trump, health experts amid coronavirus surge  ABC NewsFauci opens up about why he's not being allowed on TV  CNNThe White House Made a List of All the Times Fauci 'Has Been Wrong' on the Coronavirus  The Daily BeastHaunting new images outside California Hospital as daily case numbers rise | WNT  ABC NewsView Full

Yahoo BusinessJul 11, 2020
China Gives World First View of Post-Lockdown Rebound: Eco Week
(Bloomberg) -- The country first hit by the coronavirus pandemic will this week have a clearer picture of its progress on nursing the economy back to health.China reports second-quarter gross domestic product on Thursday, along with monthly readings for industrial output and retail sales. An easing of lockdown measures plus a modest amount of policy stimulus should be enough to post a positive growth rate, after the historic 6.8% collapse in the first quarter.Economists forecast a 2.5% expansion in the three months to June, with the recovery momentum largely unscathed even after a fresh outbreak in Beijing prompted the return of some controls on movement.That flare-up served as a reminder that even amid a strengthening domestic economy, consumption remains weak and vulnerable to sudden downturns. As the world's manufacturing hub, China is also still suffering from the collapse in global demand amid the pandemic.What Bloomberg's Economists Say:"A clear upturn in China's industrial production suggests the economy expanded in 2Q after cratering in 1Q due to the coronavirus impact. Even so, weakness in private and external demand means the pace of growth is likely to be well below historical levels. Activity data for June are expected to show the recovery has withstood a resurgence in Covid-19 cases in Beijing."\--Chang Shu and David Qu, Bloomberg Economics. For full preview, click hereElsewhere, it's a busy week for central banks, with policy makers in Japan, South Korea, Indonesia, Canada, Chile, Poland an

Yahoo BusinessJul 11, 2020
OPEC Readies Next Move in Bid to Avoid Oil-Market Taper Tantrum
(Bloomberg) -- Saudi Oil Minister Prince Abdulaziz bin Salman likes the idea of OPEC acting as the central bank of oil. And he expresses admiration for Alan Greenspan, former chairman of the U.S. Federal Reserve.The challenge now confronting the oil producers' club is one that's all too familiar to the Fed: how to avoid a "taper tantrum," the market panic that ensued when the institution proposed tightening monetary policy in 2013.Having successfully doubled crude prices over the past few months through unprecedented output cuts, the OPEC alliance led by the Saudis and Russia is poised to begin unwinding these stimulus measures. As fuel demand recovers with the lifting of coronavirus lockdowns, the producers are about to open the taps a little.But as Greenspan's successors discovered seven years ago, taking away the punch bowl carries its own risks.A second wave of the pandemic threatens another slump in oil consumption, while the billion-barrel mountain of inventories that piled up during the first outbreak still looms. If OPEC increases supply just as the market falters then prices could crash once again."When they look at prices over the quarter, when they look at green shoots of demand pick-up, I think they feel good," said Helima Croft, head of commodity strategy at RBC Capital Markets LLC. "I do think they are cognizant though of some of the potential clouds on the horizon."It's a balancing act that Prince Abdulaziz and his counterparts must weigh on July 15, when they hold an online meeting of th

Yahoo BusinessJul 11, 2020
Tesla slashes Model Y SUV price as pandemic weighs on auto sector
The reduction follows price cuts in May on Tesla's Model 3, Model X and Model S. The company headed by Elon Musk this month posted a smaller-than-expected fall in car deliveries in the second quarter, resilient results despite the pandemic that hit the global auto industry. The Model Y now starts at $49,990, down nearly 6% from its previous price of $52,990, according to the carmaker's website.

The Motley FoolJul 11, 2020
3 Social Security Moves You Need to Make if There's a Second Wave of COVID-19
You can still make the most of your benefits even if there's a second wave of the pandemic.
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