Kanebridge News
    HOUSE MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $1,617,056 (+0.24%)       Melbourne $1,000,525 (-0.63%)       Brisbane $1,042,046 (-0.57%)       Adelaide $935,729 (-0.10%)       Perth $926,969 (+0.05%)       Hobart $747,180 (-1.31%)       Darwin $765,724 (+2.11%)       Canberra $969,015 (+0.41%)       National $1,064,466 (+0.02%)                UNIT MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $762,768 (+0.19%)       Melbourne $477,217 (+0.91%)       Brisbane $655,017 (-0.25%)       Adelaide $503,220 (+0.13%)       Perth $506,109 (-0.69%)       Hobart $538,123 (+0.07%)       Darwin $392,695 (+2.21%)       Canberra $507,202 (+0.63%)       National $563,984 (+0.16%)                HOUSES FOR SALE AND WEEKLY CHANGE     Sydney 11,236 (+860)       Melbourne 14,447 (+809)       Brisbane 7,855 (+165)       Adelaide 2,564 (+97)       Perth 7,208 (+167)       Hobart 1,205 (+31)       Darwin 179 (+1)       Canberra 1,172 (+79)       National 45,866 (+2,209)                UNITS FOR SALE AND WEEKLY CHANGE     Sydney 8,798 (+348)       Melbourne 6,789 (+167)       Brisbane 1,627 (+44)       Adelaide 378 (-3)       Perth 1,628 (+21)       Hobart 230 (+2)       Darwin 257 (-2)       Canberra 1,162 (+42)       National 20,869 (+619)                HOUSE MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $800 ($0)       Melbourne $590 (-$5)       Brisbane $650 ($0)       Adelaide $620 ($0)       Perth $700 ($0)       Hobart $570 ($0)       Darwin $760 (+$10)       Canberra $700 (+$5)       National $682 (+$2)                UNIT MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $750 ($0)       Melbourne $600 ($0)       Brisbane $650 ($0)       Adelaide $500 ($0)       Perth $650 ($0)       Hobart $450 ($0)       Darwin $580 (-$3)       Canberra $580 ($0)       National $608 (-$)                HOUSES FOR RENT AND WEEKLY CHANGE     Sydney 6,578 (-8)       Melbourne 8,259 (-152)       Brisbane 4,220 (-209)       Adelaide 1,555 (-25)       Perth 2,249 (-66)       Hobart 200 (-5)       Darwin 136 (-8)       Canberra 600 (-30)       National 23,797 (-503)                UNITS FOR RENT AND WEEKLY CHANGE     Sydney 10,121 (-465)       Melbourne 7,272 (-299)       Brisbane 2,271 (-100)       Adelaide 433 (+6)       Perth 693 (-24)       Hobart 84 (+1)       Darwin 193 (-22)       Canberra 582 (-14)       National 21,649 (-917)                HOUSE ANNUAL GROSS YIELDS AND TREND         Sydney 2.57% (↓)       Melbourne 3.07% (↓)     Brisbane 3.24% (↑)      Adelaide 3.45% (↑)        Perth 3.93% (↓)     Hobart 3.97% (↑)        Darwin 5.16% (↓)     Canberra 3.76% (↑)      National 3.33% (↑)             UNIT ANNUAL GROSS YIELDS AND TREND         Sydney 5.11% (↓)       Melbourne 6.54% (↓)     Brisbane 5.16% (↑)        Adelaide 5.17% (↓)     Perth 6.68% (↑)        Hobart 4.35% (↓)       Darwin 7.68% (↓)       Canberra 5.95% (↓)       National 5.60% (↓)            HOUSE RENTAL VACANCY RATES AND TREND       Sydney 2.0% (↑)      Melbourne 1.9% (↑)      Brisbane 1.4% (↑)      Adelaide 1.3% (↑)      Perth 1.2% (↑)      Hobart 1.0% (↑)      Darwin 1.6% (↑)      Canberra 2.7% (↑)      National 1.7% (↑)             UNIT RENTAL VACANCY RATES AND TREND       Sydney 2.4% (↑)      Melbourne 3.8% (↑)      Brisbane 2.0% (↑)      Adelaide 1.1% (↑)      Perth 0.9% (↑)      Hobart 1.4% (↑)      Darwin 2.8% (↑)      Canberra 2.9% (↑)      National 2.2% (↑)             AVERAGE DAYS TO SELL HOUSES AND TREND         Sydney 37.5 (↓)       Melbourne 40.0 (↓)       Brisbane 38.2 (↓)       Adelaide 33.4 (↓)     Perth 45.9 (↑)        Hobart 39.4 (↓)       Darwin 42.4 (↓)       Canberra 40.6 (↓)       National 39.7 (↓)            AVERAGE DAYS TO SELL UNITS AND TREND         Sydney 35.0 (↓)       Melbourne 40.2 (↓)       Brisbane 34.4 (↓)       Adelaide 32.0 (↓)     Perth 46.6 (↑)        Hobart 39.6 (↓)     Darwin 49.6 (↑)      Canberra 49.0 (↑)        National 40.8 (↓)           
Share Button

Alibaba to Sell Stake in Chinese Hypermarket Operator

The company will sell its entire 78.7% stake in Hong Kong-listed Sun Art Retail Group

By P.R. VENKAT
Thu, Jan 2, 2025 11:07amGrey Clock < 1 min

Alibaba Group has agreed to sell its shares in a Chinese hypermarket operator in a $1.7 billion deal, the latest divestment as part of the company’s efforts to focus on its core e-commerce business.

The company will sell its entire 78.7% stake in Hong Kong-listed Sun Art Retail Group to Chinese private-equity firm DCP Capital Partners for gross proceeds of up to $1.6 billion, Alibaba said Wednesday.

Alibaba expects to book a divestment loss of nearly $1.8 billion based on the estimated fair value of the consideration receivable for the sale of shares.

The e-commerce giant had bought a controlling stake in the hypermarket store operator in 2020 for $3.6 billion.

In a filing to the Hong Kong exchange Wednesday, Sun Art said that the acquirer plans to delist the company and conduct a strategic review of the hypermarket operator’s businesses.

Once a Wall Street favorite and a leader in China’s e-commerce, Alibaba is facing challenges in growing its revenue. The company is losing some of its market share amid a slowing Chinese economy and rising competition from domestic rivals like Pinduoduo and Douyin.

Last month, the company announced that it, along with a minority shareholder, had agreed to sell department-store chain Intime for $1.02 billion. The e-commerce giant said then that it anticipated to incur an over $1.0 billion loss from the sale of Intime.



MOST POPULAR
11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

35 North Street Windsor

Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

Related Stories
Money
Tech Giants Double Down on Their Massive AI Spending
By NATE RATTNER AND JASON DEAN 07/02/2025
Money
OpenAI in Talks for Huge Investment Round Valuing It Up to $300 Billion
By BERBER JIN and DEEPA SEETHARAMAN 31/01/2025
Money
DeepSeek Deep Sixes the Stock Market. How Far the S&P 500 Could Fall
By PAUL R. LA MONICA 28/01/2025
Tech Giants Double Down on Their Massive AI Spending

Amazon, Google, Microsoft and Meta pour billions into artificial intelligence, undeterred by DeepSeek’s rise

By NATE RATTNER AND JASON DEAN
Fri, Feb 7, 2025 3 min

Tech giants projected tens of billions of dollars in increased investment this year and sent a stark message about their plans for AI: We’re just getting started.

The four biggest spenders on the data centers that power artificial-intelligence systems all said in recent days that they would jack up investments further in 2025 after record outlays last year. Microsoft , Google and Meta Platforms have projected combined capital expenditures of at least $215 billion for their current fiscal years, an annual increase of more than 45%.

Amazon.com didn’t provide a full-year estimate but indicated on Thursday that total capex across its businesses is on course to grow to more than $100 billion, and said most of the increase will be for AI.

Their comments in recent quarterly earnings reports showed the AI arms race is still gaining momentum despite investor anxiety over the impact of China’s DeepSeek and whether these big U.S. companies will sufficiently profit from their unprecedented spending spree.

Investors have been especially shaken that DeepSeek replicated much of the capability of leading American AI systems despite spending less money and using fewer and less-powerful chips, according to its Chinese developer. Leaders of the U.S. companies were unbowed , touting advances in their own technology and arguing that lower costs will make AI more affordable and grow the demand for their cloud computing services, which AI needs to operate.

“We think virtually every application that we know of today is going to be reinvented with AI inside of it,” Amazon Chief Executive Andy Jassy said on Thursday’s earnings call.

Here is a breakdown of each company’s plans:

Amazon said a measure of its capex that includes leased equipment rose to a record of about $26 billion in the final quarter of 2024 , driven by spending in its cloud-computing division on equipment for data centers that host AI applications. Executives projected it would maintain the fourth-quarter spending volume in 2025, meaning an annual total of more than $100 billion by that measure.

The company—which gets most of its revenue from e-commerce and most of its profit from cloud computing—also projected overall sales for the current quarter that missed analysts’ expectations. Its shares slid about 4% in after-hours trading Thursday. The stock rose more than 40% in 2024 and was up nearly 9% this year before its earnings report.

Jassy said AI has the potential to propel historic change and that Amazon wants to be a leader of that progress.

“AI represents for sure the biggest opportunity since cloud and probably the biggest technology shift and opportunity in business since the internet,” Jassy said.

Google shares are down about 7% since its earnings report Tuesday, which showed disappointing growth in its cloud-computing business. Still, parent-company Alphabet said it is accelerating investments in AI data centers as part of a surge in capital expenditures this year to about $75 billion, from $52.5 billion in 2024. The spending will go to infrastructure both for Google’s own use and for cloud-computing clients.

“I think part of the reason we are so excited about the AI opportunity is we know we can drive extraordinary use cases because the cost of actually using it is going to keep coming down,” said CEO Sundar Pichai .

AI is “as big as it comes, and that’s why you’re seeing us invest to meet that moment,” he said.

Microsoft has said it plans to spend $80 billion on AI data centers in the fiscal year ending in June, and that spending would grow further next year , albeit at a slower pace.

Chief Executive Satya Nadella said AI will become much more extensively used , which he said is good news. “As AI becomes more efficient and accessible, we will see exponentially more demand,” Nadella said.

Growth for Microsoft’s cloud-computing business in the latest quarter also disappointed investors, leaving its stock down about 6% since its earnings report last week.

Meta, too, outlined a sizable increase in its investments driven by AI, including $60 billion to $65 billion in planned capital expenditures this year, roughly 70% higher than analysts had projected. Shares in Meta are up about 5% since its earnings report last week.

CEO Mark Zuckerberg said investing vast sums will enable it to adjust the technology as AI advances.

“That’s generally an advantage that we’re now going to be able to provide a higher quality of service than others who don’t necessarily have the business model to support it on a sustainable basis,” he said.

MOST POPULAR
11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

35 North Street Windsor

Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

Related Stories
Money
China Pumps Up Support for Country’s Stock Markets
By TRACY QU 23/01/2025
Money
OpenAI in Talks for Huge Investment Round Valuing It Up to $300 Billion
By BERBER JIN and DEEPA SEETHARAMAN 31/01/2025
Money
Israel Defies Expectations With Surge in Tech Funding Despite War
By Carrie Keller-Lynn 14/01/2025
0
    Your Cart
    Your cart is emptyReturn to Shop