Yahoo to spin-off remaining Alibaba stake January 27, 2015 YAHOO boss Marissa Mayer (pictured) said last night it plans to spin off its 15 per cent stake in China’s Alibaba as the group posted a 52 per cent drop in fourth quarter earnings to $166m (£109m). Shares jumped after hours as traders welcomed the move, which will help Yahoo avoid a large tax bill [...]
Yahoo to spin off Alibaba shares in wake of shareholder pressure January 27, 2015 Internet giant Yahoo will spin off its shares in Chinese e-commerce giant Alibaba in a tax-free transaction. Yahoo currently owns 15 per cent of Alibaba group and will create another company made up of its stake worth around £26bn. Yahoo shareholders will receive all of the company's 384m Alibaba shares. "Yahoo believes this transaction will [...]
Video: Alibaba founder Jack Ma at Davos January 23, 2015 Even by his standards, Asia's richest man, Jack Ma, had a busy year in 2014, after he presided over the biggest-ever global IPO when his company, Alibaba, raised $25bn. Today Ma kicked off this morning's programmed at the 2015 meeting of the World Economics Forum to discuss leadership, entrepreneurship and the future of commerce with [...]
Alibaba could move into Indian market with $500m investment in One97 Communications January 12, 2015 Alibaba could soon expand its global influence by purchasing a stake in India’s One97 Communications for over $500m. Alibaba and payment service provider unit Alipay are said to be in advanced talks to buy between 30 and 40pc of the Indian company which owns mobile payment platform Paytm. According to Reuters sources, One97 [...]
Alibaba has spent $160m weeding out counterfeits December 24, 2014 Recently-listed Chinese e-commerce giant Alibaba has admitted it's spent $160m (£103m) since the beginning of last year sniffing out counterfeit goods on its site. The company, which made the largest stock market debut in history back in September when it raised $25bn on its listing in New York, said today it is planning to increase [...]
Hong Kong stock exchange chief exec Charles Li writes to Santa to lament loss of Alibaba IPO December 22, 2014 Writing a letter to Santa: At primary school it’s expected, for early teens it’s understandable, for sixth formers it’s a little strange. But for the chief executive of one of the world’s biggest stock exchanges it’s downright bizarre and just a bit bonkers. Charles Li, chief executive of the Hong Kong stock exchange [...]
The UK, Alibaba and Nigel Farage are the biggest winners of 2014 December 18, 2014 As the year draws to a close it's a good time to reflect and look back on who will be cheerfully toasting 2014, after looking at those poor souls who've been dealt nothing but coal this year. This lot have plenty of reason for good cheer this holiday season – here's our pick of the [...]
Alibaba moves London tech headquarters to Canary Wharf December 14, 2014 Chinese e-commerce giant Alibaba has moved its London headquarters from Mayfair to Canary Wharf as the Docklands continues to develop as a rival tech hub to Old Street. Alibaba, which raised a record $25bn (£15.9bn) when it went public in September, is now based on Level 28 of the iconic One Canada Square, just below [...]
Snapchat picks up Credit Suisse banker who led Alibaba’s float December 9, 2014 SNAPCHAT made its money-making intentions clear yesterday with the appointment of a major investment banker from Credit Suisse. Evan Spiegel, the 24-year-old founder of the hugely popular messaging app, has brought in heavy-hitter Imran Khan, formerly the head of investment at Credit Suisse who led the bank’s team on Alibaba’s $25bn (£15.9bn) float this year. [...]
Alibaba debut bond is more than five times oversubscribed November 20, 2014 Chinese e-commerce giant Alibaba has $43bn (£27.4bn) of orders from investors in yesterday’s debut bond offering, more than five times what it was said to be seeking. Asia’s biggest internet company planned to sell the debt in a seven-part transaction, sources who asked not to be identified because the details were private told Bloomberg. Alibaba [...]