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Alibaba, the Chinese e-commerce giant, reported disappointing results for the June quarter of 2024. The company missed both revenue and net income expectations, signaling challenges in its core business operations. Revenue amounted to 243.24 billion Chinese yuan, falling short of the expected 249.05 billion yuan. Net income also saw a significant decline, coming in at
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In a recent statement, UBS CEO Sergio Ermotti expressed concern regarding the potential intensification of market volatility in the second half of the year. While acknowledging the recent sharp sell-offs in global equities due to weak economic data from the U.S., Ermotti dismissed the idea of an impending recession in the United States. He did,