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FedEx to move Asia HQ to Singapore from Hong Kong. Alibaba’s online shopping unit considers IPO. Apple’s iPhone bounces back. Here’s what you need to know today.

Alibaba’s international online shopping unit is exploring a US IPO as it weighs options to spur growth for the business that includes major e-commerce brands Lazada and AliExpress. If it goes ahead, the Alibaba unit would join a number of high-profile Chinese firms including fast-fashion leader Shein seeking to tap American capital. Other parts of Alibaba’s empire have already begun moving ahead with spinoffs. Cainiao Network Technology, the logistics arm of Alibaba, as well as Freshippo, its grocery chain, have started preparations with banks for IPOs in Hong Kong.