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Alibaba will spin off its logistics arm Cainiao in an IPO in Hong Kong

Published Fri, 15 Nov 2024 01:47:52 GMT

HONG KONG (AP) — Chinese e-commerce company Alibaba said Tuesday that it would spin off its logistics arm, Cainiao Smart Logistics Network, in an initial public offering in Hong Kong, making it the first business unit to go public following a major restructuring. Alibaba said in a filing that it had submitted a spin-off proposal to the Hong Kong Stock Exchange, and that it has received confirmation to proceed.Alibaba will continue to be a majority shareholder in Cainiao, holding over 50% of the company and retaining it as a subsidiary. The company currently owns nearly a 70% stake in Cainiao, Alibaba’s main delivery arm that handles logistics and parcels for merchants both in China and abroad.The move comes about six months after Alibaba first announced that it would split its business into six different units.Apart from its main e-commerce business, the other five business units, which include logistics and cloud computing, will be allowed to raise external capital or spun off to g...

Russian drone strikes on Odesa hit port area and cut off ferry service to Romania

Published Fri, 15 Nov 2024 01:47:52 GMT

KYIV, Ukraine (AP) — Russia struck the Black Sea port city of Odesa for a second night in a row in a drone barrage that damaged a warehouse, charred dozens of trucks and injured two drivers in fiery explosions that led officials to suspend ferry service between Romania and Ukraine, officials said Tuesday.Video shot from the Romanian side of the Danube River showed rapid-fire bursts of Ukrainian anti-aircraft fire streaking through the night sky followed by two orange fireballs exploding near the port area. Photos showed burned-out frames of trucks.Romanian Border Police said ferries were anchored on the Romanian shores of the Danube in Isaccea due to the attacks on Ukraine. Traffic was being redirected through Galati, a Romanian town upstream on the Danube.The attacks came the day after a Russian missile and drone attack killed two people in a grain warehouse in Odesa and badly damaged an abandoned high-rise hotel.Ukraine’s air force said it downed 26 of 38 drones launched by Russia...

London’s Gatwick Airport limits flights this week due to staff illness, including COVID-19

Published Fri, 15 Nov 2024 01:47:52 GMT

LONDON (AP) — Gatwick Airport, London’s second-busiest, is limiting flights this week, partly because of an outbreak of COVID-19 within air traffic control.In a statement late Monday, the airport said a daily 800-flight limit, affecting both departures and arrivals, has been imposed until Sunday.Gatwick said around 30% of staff in the division within air traffic control are off sick for a variety of reasons, including COVID-19.It said the daily cap will prevent last-minute cancellations and delays for passengers while National Air Traffic Services, or NATS, gets back to normal. Stewart Wingate, the airport’s chief executive, said the decision “means we can prevent as much disruptions as possible.” The largest number of cancellations will be on Friday, Sept. 29, with 33 departures affected.NATS apologized to passengers but said that a variety of medical reasons meant it can’t manage the normal flows in and out of the airport.Though all the COVID-19 restrictions in B...

Tuesday Forecast: Temps in low 70s with scattered storms

Published Fri, 15 Nov 2024 01:47:52 GMT

CHICAGO — Mainly cloudy Tuesday with scattered storms. Winds: ESE 5-10 G15. High: 72. Interactive Radar: Track showers and storms here Mainly cloudy tonight with scattered storms. Winds: ESE 5-10 G15. Low: 62.Wednesday Forecast: Mainly cloudy, scattered storms. Winds: E 5-10. High: 68.Full forecast details and more at the WGN Weather Center blog

LIVE: Round Rock dealerships see hail damage, expect deals for dented cars

Published Fri, 15 Nov 2024 01:47:52 GMT

AUSTIN (KXAN) — Late Sunday, hail pounded areas in Central Texas, including the Round Rock and Georgetown areas. Hail reports included some hail stones between 2 inches and 3 inches in diameter. Photos at the Round Rock Hyundai and Round Rock Honda dealerships show hail-damaged windshields and dented vehicles. PHOTOS: Large, damaging hail pummels parts of Central Texas Steve David, the general manager of Steele GMC Round Rock, told KXAN the dealership saw cracked windshields and significant damage, but there isn't a cost damage estimate yet. He said, fortunately, there were no broken windshields or sunroofs—meaning no water damage. Hail damage at Round Rock Hyundai on Sept. 24, 2023 (KXAN Photo/Todd Bynum)Hail damage at Round Rock Hyundai on Sept. 24, 2023 (KXAN Photo/Todd Bynum)Hail damage at Round Rock Hyundai on Sept. 24, 2023 (KXAN Photo/Todd Bynum)Hail damage at Round Rock Hyundai on Sept. 24, 2023 (KXAN Photo/Todd Bynum)Hail damage at Round R...

Texas Parks and Wildlife warns of red tide event on gulf coast

Published Fri, 15 Nov 2024 01:47:52 GMT

AUSTIN (KXAN) – The Texas Parks and Wildlife Department Monday warned of a red tide event currently underway in the upper Texas coast and the Lower Laguna Madre. The department said it found red tide on Sept. 3 at a monitoring station near Freeport. It said low to moderate concentrations of red tide have been found near Freeport and the Texas City Dike. Parks and Wildlife said low concentrations of red tide have been detected in water samples from Good Hope Circle Beach and the Gulf Beach in Cameron County in the Lower Laguna Madre.Texas Parks and Wildlife suspects the bloom led to fish kills at San Luis Pass, Surfside Beach and the Quintana/Freeport Channel.TPWD said people who are near the water during red tide may experience irritation of the eyes, nose and throat, as well as coughing, wheezing and shortness of breath. People with an existing respiratory illness, such as asthma, may experience these symptoms more severely. Anyone with concerns or questions about human health effe...

2 dead in Amish buggy crash in Fillmore County

Published Fri, 15 Nov 2024 01:47:52 GMT

SUMNER TOWNSHIP, Minn. — Two people were killed in a crash involving an Amish buggy and a passenger vehicle east of Racine, Minn., on Monday morning.The Fillmore County Sheriff’s Office said a 911 caller reported the crash at 8:25 a.m. on Fillmore County Road 1 near County Road 10, which is located more than 90 miles from St. Paul.Two other people were transported to Mayo Clinic Hospital-Saint Marys with unknown injuries.County Road 1 was closed as law enforcement investigated the crash.The Minnesota State Patrol and Mower County Sheriff’s Office also responded to the scene.Related ArticlesNews | As student mental health needs leap, Minn. schools seek a next generation of counselors News | Minnesota lawmakers approved up to $1 billion for housing. Where is it going? News | Arlen Erdahl, former Minnesota secretary of state and congressman, dies at 92 News | Amid questions about background, Minnesota’s new &#...

Broadalbin man arrested in child pornography investigation

Published Fri, 15 Nov 2024 01:47:52 GMT

ALBANY, N.Y. (NEWS10) -- A Broadalbin man was arrested on Friday following an investigation by the Fulton County Probation Department and Troop G Computer Crimes Unit. Edward Hurst, 25, was arrested on a warrant. Get the latest news, weather, sports and entertainment delivered right to your inbox! New York State Police say the investigation stemmed from a probation violation. Hurst is accused of possessing images of child sexual exploitation.Charges:Possession of a sexual performance by a childHurst was arrested at the Fulton County Court and taken to Mayfield State Police for processing. He was arraigned at the Fulton County Court and remanded to the Fulton County Correctional Facility without bail.

Off the Beaten Path: Martinez Gallery

Published Fri, 15 Nov 2024 01:47:52 GMT

TROY, N.Y. (NEWS10) - Housed in a historic building on Fifth Avenue in Troy, you’ll find a space filled with vibrant artwork waiting to be discovered. Laudelina Martinez opened Martinez Gallery in 2001 to showcase contemporary artwork with a focus on Latino artists.Born and raised in Puerto Rico, Laudelina moved to the United States to attend college in New York. She started her career in higher education before becoming a curator and art director of her own gallery. Hispanic Heritage Month “Each Latin American country has its own history. Not everybody has the same experiences so in terms of their own art and culture each Latin American country is different,” said Laudelina. Martinez Gallery is located on 1913 5th Ave. in Troy. You can email to set up an appointment ([email protected]) or visit the online gallery.

Traffic restrictions for Saugerties Garlic Festival

Published Fri, 15 Nov 2024 01:47:52 GMT

SAUGERTIES, N.Y. (NEWS10) -- The Saugerties Department of Parks, Recreation, and Buildings has released a set of traffic and parking restrictions ahead of Saturday and Sunday's Garlic Festival. Preferred on-site parking is available online. Get the latest news, weather, sports and entertainment delivered right to your inbox! Starting Wednesday, traffic will be restricted, and/or road closures will take place on Bob Moser Drive, Pavilion Street, and Court Drive. No thru traffic will be allowed during this time.On Friday, traffic onto Bob Moser Drive, Pavilion Street, and Court Drive will be restricted to those involved with Garlic Festival set-up, deliveries, and Permit Holders. Permit holders are asked to use their assigned gate as listed on their permit, and permits must be visible on their windshield or rear-view mirror. Again, no thru traffic will be allowed during this time.On Saturday and Sunday, only permit holders can enter the complex through their assigned gate as labele...