Alibaba surges and Amazon beats Walmart newsthirst.

Sustained inflation in Japan
Japan’s inflation rate in January climbed to 4% year on year, hitting its highest level since January 2023. Core inflation — which excludes prices of fresh food — rose to 3.2%, beating economists’ expectations of 3.1%, according to a Reuters poll. This figure was the highest since June 2023. The headline inflation has remained above the Bank of Japan’s 2% target for 34 straight months.

Alibaba shares pop on cloud growth
U.S.-listed shares of Alibaba popped 8.1% after the Chinese tech giant on Thursday reported net income of 48.945 billion yuan ($6.72 billion) in the December quarter, beating the LSEG forecast of 40.6 billion yuan and jumping 239% from the same period a year ago. Alibaba’s top line was also better than expected, lifted by 13% year-on-year sales growth in its Cloud Intelligence Group during the quarter. Separately, GameStop CEO Ryan Cohen increased his personal stake in Alibaba to around $1 billion, The Wall Street Journal reported Thursday.

Amazon’s quarterly revenue beats Walmart’s
Amazon has dethroned Walmart in quarterly revenue for the first time ever. Amazon said earlier this month that it brought in $187.8 billion in revenue during the fourth quarter — above the $180.5 billion reported by Walmart on Thursday. Since 2012, Walmart has held the distinction of being the top revenue generator each quarter, a title it gained after overtaking oil giant Exxon Mobil.

Taking Thames private
Private equity investor KKR is offering about £4 billion ($5 billion) for U.K.’s struggling Thames Water utility, according to a person familiar with the matter. The water utility firm is saddled with ballooning debt and has warned it will run out of cash by March 24. KKR’s involvement would comprise a £4 billion management-buyout submission that would not result in the sale of assets or a breakup of the utility, the source said.

[PRO] An engine for expensive S&P: Bank of America
The S&P 500 is currently more expensive than average, based on 19 of 20 indicators tracked by a Bank of America team, according to a strategist from the bank. However, there is one factor that could push the market higher, with these stocks standing to gain the most.

Since invading Ukraine three years ago, Russia has spent a significant amount of energy demonizing the U.S. and denigrating the country. But the arrival of a friendlier administration under U.S. President Donald Trump, which kickstarted fledgling talks to end the conflict in Ukraine — as well as a way in from the economic and geopolitical cold — are prompting a softening of the Kremlin’s adversarial stance.

As tensions between Trump and Ukraine’s President Volodymyr Zelenskyy spilled into open acrimony on Wednesday, with Trump calling Zelenskyy a “dictator,” Putin praised Trump for showing restraint amid what he described as “hysteria” by European leaders who are angry at being left out of negotiations on Ukraine’s future.