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  Alibaba’s Hong Kong-listed stock jumped as much as 6% on Tuesday after the company said it will apply for a dual primary listing in Hong Kong. Kuang Da | Jiemian News | Visual China Group | Getty Images Alibaba ’s Hong Kong-listed stock jumped 6% on Tuesday after the Chinese tech giant said it will apply for a dual primary listing in Hong Kong, before paring some gains. The tech giant’s shares are already traded on both U.S. and Hong Kong exchanges, but the current listing in Hong Kong is a secondary one. The primary listing process in Hong Kong is expected to be completed before the end of 2022,  the company said in a press release. The Hong Kong Exchange recently changed rules, making it easier for more companies to get dual primary listings in the Chinese financial hub. Alibaba is reportedly the first large company to take advantage of this rule change,  according to Reuters . “We have received approval from the Board to apply to add Hong Kong as another primary list...

  The European Central Bank is increasing interest rates for the first time in 11 years. But in Italy, political turmoil is back. Bloomberg | Bloomberg | Getty Images The  European Central Bank  on Thursday increased interest rates for the first time in 11 years in an attempt to cool rampant inflation in the euro zone. The ECB, the central bank of the 19 nations that share the  euro  currency, surprised markets by pushing its benchmark rate up by 50 basis points, bringing its deposit rate to zero. Traders had expected a smaller hike of 25 basis points. “The Governing Council judged that it is appropriate to take a larger first step on its policy rate normalisation path than signalled at its previous meeting,” the ECB said in a statement Thursday. The Frankfurt institution had kept rates at historic lows, in negative territory since 2014, as it dealt with the region’s sovereign debt crisis and the coronavirus pandemic. The  euro  rose to a session high ...