China fines tech giants over anti-monopoly violations

Chinese tech giants, including Alibaba Group and Tencent Holdings, were fined Saturday for failing to report corporate takeovers, which were involved in an anti-monopoly crackdown by the ruling Communist Party. According to the State Administration for Market Regulation, companies failed to report 43 acquisitions that occurred eight years ago under “operating concentration” rules. Each violation … Read more

Adulteration drags Hong Kong into Asian markets as Alibaba dips

Hong Kong: Hong Kong fell on Friday on an otherwise positive day for Asian markets with Chinese ecommerce titan Alibaba warning of a weak outlook from Chinese ecommerce titan Alibaba. Alibaba said on Thursday that net profit fell 81 percent in the second quarter and revenue fell short of forecast as it was hit by … Read more

Asian shares fall on Alibaba’s slide, China worries

HONG KONG: Asian shares fell on Friday as disappointing earnings from Chinese e-commerce giant Alibaba raised concerns about Beijing’s broader regulatory crackdown and slowing growth in the world’s second-largest economy. This saw the sector post a solid Wall Street performance overnight, with MSCI’s broadest index of Asia-Pacific shares outside Japan up 0.44% and set for … Read more

Alibaba takes orders for $84.54 billion in toned-down singles day

Chinese e-commerce giant Alibaba Group Holding Ltd recorded 540.3 billion yuan ($84.54) billion of orders, or “gross merchandise value” (GMV), at its 11-day singles day sales event, up nearly 14% year over year. ‘s growth. East. The results come in the form of overall consumption in China, and caps a relatively muted version of the … Read more

A Pursuit Alibaba Reduces Its Singles Day Retail Bonanza

Singles Day used to be the biggest, most unrivaled celebration of consumerism on earth: a 24-hour online retail extravaganza, starting with a confetti-filled gala and culminating in a spectacular pile of money for brands, Celebrity Pitchman and Alibaba, the Chinese e-commerce giant. The -commerce titan at the center of it all. This Singles Day, an … Read more

Jack Ma, Trump and Xi: How Chinese billionaires flew too close to the sun

It was supposed to be Jack Ma’s finest: a year earlier today, his Ant group was to go public in $37 billion in glory. Instead Beijing reined in its empire, suddenly cutting off the wings of corporate China’s biggest star. Now, much to the cautious enthusiasm of investors, billionaire Alibaba e-commerce tycoon is taking his … Read more