China slapped a record 18 billion yuan ($2.75 billion) fine on Alibaba Group Holding Ltd on Saturday, after an anti-monopoly probe found the e-commerce giant had abused its dominant market position for several years. The fine, about 4% of Alibaba’s 2019 domestic revenues, comes amid a crackdown on […]
China’s government has asked Alibaba Group Holding Ltd (9988.HK) to dispose of its media assets, the Wall Street Journal reported on Monday, citing people familiar with the matter. Discussions over the matter have been held since early this year, the report said, adding that officials were shocked at how expansive […]
NEW DELHI – An Indian court has summoned Alibaba and its founder Jack Ma in a case in which a former employee in India says he was wrongfully fired after objecting to what he saw as censorship and fake news on company apps, documents seen by Reuters showed. […]
Beijing, Sep 10:Â Jack Ma, who founded Alibaba Group, the world’s biggest e-commerce company, is stepping down as chairman at a time when the rapidly changing industry faces uncertainty amid a US-Chinese trade war. Ma stepped down Tuesday as part of a succession announced a year earlier. He will […]
SHANGHAI – Chinese e-commerce giant Alibaba Group Holding Ltd settled roughly 69 billion yuan ($9.92 billion) in the first hour of its annual Singles’ Day on Sunday, up roughly 21 percent from last year’s early haul of 57 billion yuan. Singles’ Day is the world’s biggest online sales […]
open view web desk MUMBAI – China’s Alibaba became the biggest shareholder in India’s leading online grocer BigBasket after a $300-million funding round, stepping up its rivalry with Amazon in the country. Alibaba invested $146 million in the grocer, subscribing to compulsorily convertible preference shares, BigBasket said in […]
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