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Alibaba

  • Alibaba shares slide five per cent as earnings fall short of forecasts

    Alibaba

    Alibaba shares tumbled five per cent after the company’s third quarter financials disappointed investors. In results released today, Chinese tech giant Alibaba revealed that revenue for the three months to October 2021 was $31.1bn (£23bn), up by 29 per cent compared to a year prior, but a far cry from analyst predictions of $32.1bn Net [...]

  • Mysterious Ma: Billionaire Alibaba founder spotted in Spain

    Mysterious Ma: Billionaire Alibaba founder spotted in Spain

    The billionaire co-founder of Alibaba, Jack Ma, has been spotted in Spain in reportedly his first trip abroad since he butt heads with hawkish Chinese regulators. The reports of Ma being alive and well, and seemingly not banned from leaving China, triggered Alibaba’s Hong Kong-listed shares to jump 6.7 per cent on Wednesday – their [...]

  • Alibaba founder Jack Ma mysteriously reappears in Hong Kong after a year

    Alibaba Group founder and Chinese billionaire Jack Ma, largely out of public view since a regulatory clampdown started on his business empire late last year, is currently in Hong Kong and has met business associates in recent days, two sources told Reuters. Watch the full report.

  • Case dropped against ex-Alibaba manager accused of sexual assault

    September 7, 2021

    Prosecutors have dropped their case against a former Alibaba Group holding manager accused of sexual assault by a colleague. The manager, surnamed Wang, was investigated after a female subordinate published a viral account of being sexually assaulted and raped during a business trip. The female victim was ignored when she raised the assault with her [...]

  • Alibaba shares sink to record low as China regulations on tech continues

    August 19, 2021

    Alibaba Group shares sank by 5.4 per cent to a record low in Hong Kong on Thursday, following the latest round of regulations on Chinese tech giants by Beijing. The shares fell after China reportedly said it was looking at separate and new regulatory proposals including heightening oversight of the live streaming industry and ensuring the [...]

  • Jack Ma’s Ant Group emerges as a steady ship amid China’s tech crackdown

    August 3, 2021

    Fintech giant Ant Group, the brainchild of Chinese billionaire Jack Ma, has emerged a steady ship in its first-quarter amid a rocky political climate in China. Revenue rose to $31.8bn in the three months ending 30 June, a little below analyst forecasts. Following intense scrutiny from local regulators, the Chinese fintech giant has shifted into [...]

  • Alibaba founders pledge company stock to secure bank loans

    July 2, 2021

    Chinese tycoons Jack Ma and Joe Tsai have pledged part of their combined $35bn (£25bn) stake in Alibaba in exchange for large loans from investment banks. The share pledges, which were made to lenders including UBS, Credit Suisse and Goldman Sachs, were made by offshore companies that control half of the two billionaire’s stake in [...]

  • China issues warning to tech firms after record Alibaba fine

    April 13, 2021

    Chinese authorities have issued a stark ultimatum to more than three dozen tech companies, warning them to stop engaging in any practices that fall foul of new regulations. The country’s market regulator, which last week slapped Alibaba with a $2.8bn fine, said it summoned 34 companies including Tencent, JD.com and Tiktok owner Bytedance. The State [...]

  • China fines Alibaba a record £2bn after competition probe

    April 10, 2021

    Chinese authorities have fined e-commerce giant Alibaba 18.2bn yuan (£2bn) over competition breaches, the largest penalty the country’s regulator has ever handed down. The fine, which amounts to about 4.0 per cent of the firm’s home country revenues, is the latest step in a crackdown on the tech firm after founder Jack Ma criticised China’s [...]

  • China asks Alibaba to sell media assets amid crackdown on Jack Ma

    March 16, 2021

    China is said to have asked Alibaba to sell its assets in the media sector as Beijing continues to pile pressure on the company’s billionaire founder Jack Ma. The two sides have been in discussions over the matter since the beginning of the year, according to multiple media reports, with officials said to be shocked [...]

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