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Alibaba  Profits Rise
World Economy

Alibaba Profits Rise

The Chinese e-commerce giant Alibaba has reported its first profits as a public company. They show a rise in third quarter net income of 15% to $1.1b. The company, founded in 1999 by Jack Ma, floated in New York in September, breaking records with a price tag of $25b. The shares have traded around 45% above the listing price.

 

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