Alibaba shares surged in premarket trading after reporting a sharp profit increase in the December quarter, driven by strong performance in its Cloud Intelligence unit and e-commerce segment. The company’s net income reached 48.945 billion yuan, surpassing analyst forecasts, while revenue came in at 280.154 billion yuan, slightly above expectations. Alibaba’s stock has risen by 50% on both the New York and Hong Kong exchanges this year, with CEO Eddie Wu highlighting substantial progress in user-focused and AI-driven strategies, along with accelerated growth in core businesses and Cloud revenue.
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Rotorua shoplifter jailed after getaway thwarted by flat battery
A Rotorua shoplifter, Leonard Renata Kaaho, 45, was sentenced to over two years in jail after stealing $166 worth of groceries from Woolworths. His getaway was thwarted by a flat battery in his car, leading to his arrest where police discovered a shotgun and ammunition, resulting in multiple charges. Want More Context? 🔎
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