Alibaba Adds $123 Billion in Value in Stunning Comeback Rally
It's been Alibaba's day, week and month. The company has added $123 billion in market value in February, helped by a DeepSeek-driven rally in Chinese tech stocks, its tie-up with Apple to roll out AI features in China and Beijing's rehabilitation of co-founder Jack Ma. Its shares rose 15% in Hong Kong on Friday alone after Alibaba reported higher sales and said it will boost spending on AI over the next three years. The surge comes after the company was earlier hammered by a government crackdown on the tech industry and a post-Covid slump in its business. Even after jumping almost 60% this month, Alibaba shares are still down by more than half from their 2020 peak, meaning there's still plenty of room for the rally to continue. —Richard Frost
Standard Chartered will hand back $1.5 billion more to shareholders as it reported fourth-quarter earnings that beat estimates, boosted by a strong performance in its trading and wealth business. The London-headquartered bank announced a fresh buyback which would bring total shareholder distributions to $4.9 billion since 2023. The bank is in the midst of a corporate cost-saving program. CEO Bill Winters saw his total pay package jump 46% to £10.7 million ($13.6 million).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
37 minutes ago
- Yahoo
Judge in Google antitrust trial presses DOJ on AI's role in future competition
The federal judge who will decide how to fix Google's illegal online search monopoly pressed for details on Friday about whether the tech giant's foray into artificial intelligence will further hurt its rivals. US District Judge Amit Mehta — who labeled Google a 'monopolist' in a separate trial that wrapped up last year — dug into the issue of whether court-ordered limits on AI-powered search would be effective as closing arguments in the seven-week remedy trial wrapped up in Washington court. 'Does the government believe that there is a market for a new search engine to emerge as we think of it today?' Mehta asked, according to Bloomberg. 'Do you think somebody is going to come off the sidelines and build a new general search engine in light of what we are now seeing happen in the AI space?' DOJ lawyer David Dahlquist responded that the 'short answer is yes' while describing so-called generative AI as the new 'gateway to search' for online users. 'We do believe that these remedies that will be proposed will allow that opportunity to occur,' Dahlquist said. 'The reason we are so focused on gen AI, and the reason you heard a lot of evidence about it, is because that is the new search access point.' The DOJ has asked Mehta to force Google to sell off its Chrome web browser and ensure it cannot use its AI tools to further entrench its illegal monopoly over the industry – among other proposed fixes. Google has recently overhauled its search product with controversial 'AI Overviews,' or automated summaries to user prompts that have replaced traditional 'blue links' at the top of results. Mehta has said he will make a final decision by August. The judge's focus on potential AI-related remedies during closing arguments wasn't a surprise, given the fact that the DOJ has pushed for forward-looking fixes since first outlining its proposal last fall. 'DOJ took a risk and made it the centerpiece of its remedy package,' said Paul Gallant, a policy analyst at TD Cowen. 'That really caught investors' attention last November and made it front burner issue for Google holders. Today, the judge is following DOJ down this AI path to see whether he can actually get there on the evidence and legal precedent.' Aside from a divestment of Chrome and AI-focused remedies, the DOJ has argued that Google should no longer be allowed to pay companies like Apple to ensure its search engine is set as the default option on most smartphones. The feds also want to force Google to share search data with rivals. Their proposal also suggests requiring Google to sell off its Android operating system if initial remedies prove ineffective. Google has pushed back, arguing the DOJ's proposals go far beyond the judge's initial ruling and would 'break these platforms.' The company has gone as far as to suggest that a forced breakup would jeopardize US national security and allow China to beat the US in the race to build advanced AI. Google also argued that it faces fierce competition from other AI-powered platforms, such as those offered by Sam Altman's OpenAI. During closing arguments, Google attorney John Schmidtlein said the company has already addressed AI-related search concerns by no longer pursuing exclusivity deals with wireless carriers and smartphone makers, including Samsung. However, Mehta expressed skepticism about Google's push for limited remedies focused on past misdeeds. 'It seems to me that to simply say, 'look, just open up the avenues of distribution,' without providing any further remedies that are forward-looking and that would allow competitors to actually be rivals here, sells the remedy portion of this short,' Mehta said at one point during Friday's hearing. Schmidtlein pushed back, declaring that there was 'no evidence that gen AI products have been harmed by any of the conduct issue in this case.' Earlier in the remedy trial, an OpenAI executive said that the company would be interested in acquiring Chrome if it were up for sale. The executive also acknowledged that OpenAI would benefit if it had access to Google search data.
CNET
an hour ago
- CNET
Forget the Liquid Glass Design, I'm Here for All of iOS 26's Humdrum Features
Apple previewed iOS 26, the next version of iPhone software, at WWDC 2025. And no, you're not reading that wrong. It's got a new name, look and a lot more. The update to iOS 26 comes with a lot of features and improvements that I've wanted for some time, including call screening. Last year, we got Apple Intelligence, and the year before that, the company unveiled the Vision Pro. This year, Apple renamed all of its software and made it look more unified. It might not sound as big a deal as previous WWDCs, but if you hoped Apple would talk more about software and less about AI, then this was your year. Instead of getting iOS 19, Apple released iOS 26. Typically, a new version of iOS comes out in the fall, but it can receive smaller updates through the following spring and summer. So iOS 26 is a reference to the fact that it will get minor updates through 2026. The biggest update wasn't the iOS name change. It was Liquid Glass, a design overhaul that adds transparency and is aimed at reducing distraction. However, some people's instant reaction was less than favorable to the new look. I am fascinated by what I saw with Liquid Glass and look forward to testing it as part of the iOS 26 beta version. But Liquid Glass didn't get me as hyped as some of the other features Apple included in iOS 26, like the Camera app redesign. The theme at this year's WWDC is consistency -- consistency in terms of the overall experience an Apple device owner has. iOS 26 is a great example of this because it brings a sophisticated and contemporary feel to the iPhone's software. Check out my iOS 26 video, in which I walk you through all the big features in the new iOS and show you a couple of smaller ones (some might find them mundane) that I'm excited about. I'm Impressed With iOS 26. Apple Just Made iPhones Better I'm Impressed With iOS 26. Apple Just Made iPhones Better Click to unmute Video Player is loading. Play Video Pause Skip Backward Skip Forward Next playlist item Unmute Current Time 0:01 / Duration 5:40 Loaded : 5.25% 0:01 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 5:39 Share Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset Done Close Modal Dialog End of dialog window. Close Modal Dialog This is a modal window. This modal can be closed by pressing the Escape key or activating the close button. Close Modal Dialog This is a modal window. This modal can be closed by pressing the Escape key or activating the close button. I'm Impressed With iOS 26. Apple Just Made iPhones Better iOS 26 will launch this fall and is available now as a developer beta. The public beta version will be available in July. You need an iPhone 11 or newer to use iOS 26. If you want to give it a spin before it's released, I recommend waiting for the public beta version and even then not running it on your main iPhone.
Yahoo
an hour ago
- Yahoo
Ascendion and Philtech Inc. Launch a GCC in Cebu to Redefine Digital Operations
GCC in Cebu: Philtech Inc. together with Ascendion launch a Global Capability Center in Cebu to expand support and management functions for 285,000+ employees across 2,200+ Albertsons Companies locations. Ascendion's AI-first platform drives smarter customer service, faster engineering, and seamless HR operations. Ascendion's AVA+ accelerates software delivery; METal connects top talent to high-impact innovation programs BASKING RIDGE, N.J. and MANILA, Philippines, June 10, 2025 /PRNewswire/ -- Ascendion, a leader in AI-powered software engineering, today announced a groundbreaking milestone in its decade-long partnership with Philtech, Inc. Together, the companies are launching a next-generation Global Capability Center (GCC) equipped with GenAI capabilities. This GCC aligns with Philtech in continuously evolving enterprise operations and enhancing enablement, service delivery and solutions for more than 285,000 employees across 2,200+ Albertsons Companies locations. This launch also signifies a landmark initiative for the Philippines, introducing new frontiers in AI-powered software engineering, customer experience, and digital transformation. This partnership can contribute in elevating Cebu as a next-gen AI and experience hub in the Philippines. This expansion underscores Philtech's commitment and action to strategically integrating modern technologies and GenAI to achieve higher efficiencies into relevant operations. On the other hand, Ascendion's proprietary GCCAI (Global Capability Center to the Power of AI) solution can be utilized by the Cebu-based hub to drive intelligent productivity, accelerate delivery velocity, and real-time transparency across core business functions—including customer service, application development, quality engineering, operations, and HR systems. "Our vision is clear: GCCs must evolve into Generative Global Capability Centers—AI-native, value-generating hubs that drive real business impact," said Manan Mehta, Senior Vice President, Global Growth Markets at Ascendion. "With GCCAI, we're not just scaling operations, we're reinventing how AI, engineering, and talent intersect to unlock next-level innovation and operational excellence. This center will be a model for the future of global delivery and innovation. Together with Philtech Inc., we've laid the foundation for a next-gen AI-powered hub—redefining digital operations from the heart of Cebu." As part of this expansion, Ascendion prepares to operate their proprietary AI tools and technologies in relevant operations for its many partners such as: Ascendion AVA+ – An AI-first software engineering platform enhancing productivity, risk management, and time-to-market. METal – A talent orchestration platform connecting Filipino professionals to select projects in Philtech Inc. "The launch of the Cebu GCC marks a major milestone in our long-standing partnership with Ascendion," said Trung Nguyen, Philtech General Manager and Vice President, Information Technology in Albertsons Companies, "As one of our largest technology & hiring partners, Ascendion looks forward to help identify and enable relevant AI tech for operational excellence and efficiencies—delivering a seamless blend of automation and human expertise to create unparalleled business value. This is about more than just growth; it's about defining the future of AI-driven retail innovation." Traditional GCCs have long operated as cost-effective delivery hubs. But in today's AI-driven era, that model is evolving. Generative Global Capability Centers represent a new paradigm—where AI and engineering talent continuously create value, proactively solve problems, and drive enterprise innovation at scale. Ascendion and Philtech Inc. are at the forefront of this transformation, setting a new global standard for the role of GCCs in the AI age. This is a bold leap into this future—spotlighting Cebu and the Philippines as emerging global leaders in AI-driven innovation and enterprise transformation. About AscendionAscendion is a leading provider of AI-powered software engineering solutions that help businesses innovate faster, smarter, and with greater impact. We partner with over 400 Global 2000 clients across North America, APAC, and Europe to tackle complex challenges in applied AI, cloud, data, experience design, and workforce transformation. Powered by +11,000 experts and over 2,000 AI agents, a bold culture, and our proprietary Engineering to the Power of AI (EngineeringAI) approach, we deliver outcomes that build trust, unlock value, and accelerate growth. Headquartered in New Jersey, with 40+ global offices, Ascendion combines scale, agility, and ingenuity to engineer what's next. Learn more at About Philtech IncPhiltech Inc., established on April 1, 2003, is a fully owned Global Capability Center of Albertsons Companies Inc. As a premier technology center based in BGC, Philippines, Philtech delivers exceptional IT services, including application and infrastructure support, as well as software development and extensive retail operations. By managing mission-critical information and providing secure, innovative solutions, Philtech plays a pivotal role in enhancing operational efficiency and customer experiences across over 2,200 Albertsons stores in 33 U.S. states. Committed to excellence, Philtech is recognized as a great workplace with 83% (yearly average) of its employees affirming it as a great place to work. View original content to download multimedia: SOURCE Ascendion Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
