ALIBABA.COM, the business-to-business unit of Alibaba Group, yesterday said profit in the first quarter grew 37 percent from a year ago to 453 million yuan (US$70 million). Registered users hit 65 million by the end of March while paying members rose 26 percent to more than 110,000, it said in a statement. It will also [...]

THE United States economy struggled to gain momentum early in the second quarter, with retail sales posting their smallest rise in nine months in April and wholesale prices increasing more than expected. Other data yesterday showed new claims for unemployment benefits fell 44,000 last week to 434,000, but they remained too high to signal a [...]

A RESCUE deal for Saab involving China’s Hawtai Motor Group collapsed yesterday, leaving owner Spyker chasing new funding alternatives to restart production at the Swedish car maker. Spyker said it was continuing talks with Hawtai, while a source told Reuters that another Chinese company, sport-utility vehicle maker Great Wall Motor, was also talking to the [...]