Alibaba Profits Increase 46 Percent
As Chinese exports have rebounded–38.1 percent in July alone–so have the fortunes of Alibaba, the Web site on which many of those exports are listed. The company said in an earnings announcement that its second-quarter profits rose 46 percent. CEO David Wei has made price cuts to attract even more business to the site, and has been selling value-added services like keyword advertising and business software to increase its average revenue per customer.