- Alibaba missed earnings expectations for the June 2024 quarter due to challenges in its core e-commerce business amid rising competition and cautious consumer spending in China. CEO Eddie Wu is working to stabilize the company’s e-commerce division. Despite the miss, shares are up 4%.
- Bayer shares surged 11% after a US appeals court ruled in its favor in a case alleging that its Roundup weed killer caused cancer. Bayer has faced extensive litigation over Roundup, with around 54,000 cases reportedly still pending after a $10.9 billion settlement in 2020.
- British fintech Revolut was valued at $45 billion in a recent secondary share sale, reflecting its strong financial performance and strategic progress. The news follows Revolut’s recent approval for a restricted banking license in the U.K.
