Alibaba’s stock drops due to fear of China’s new regulations

Economy 02/23/22, 16:53

According to Reuters, the regulatory authorities have ordered state-owned companies to give information on their equity investments, asset-backed securities exposure, and Ant group loans. The move made a wave of sell-off Alibaba shares on Tuesday as Alibaba held 1/3 shares in Ant Group. Alibaba Group shares dropped 5.3 percent before ...

India bans more than 54 Chinese apps for the fourth time

Economy 02/16/22, 11:20

On Feb. 14, India's Economic Times reported that The Indian government had banned many apps from mainland China three times before, and now it has issued a new ban on more than 54 Chinese apps from listing in India.  On Monday Feb. 14, Google said it temporarily blocked the access of ...

Alibaba fires female employee who accused superior of sexual assault

China 12/16/21, 21:32

The Alibaba female employee who accused her boss of rape has been dismissed.  In an email sent to the employee on Nov. 25, Alibaba said it terminated her because she was "Publishing or spreading false statements outside, or knowingly fabricating, spreading fictitious facts, or spreading unverified news, causing harm and is ...

Alibaba’s debt restructuring $200 billion bid rejected by Ziguang Group

China 12/15/21, 20:00

The famous Chinese technology Ziguang Group announced the results of the chosen finance organization for Ziguang’s restructuring and bankruptcy process on Dec. 10. Alibaba offered a $200 billion bid on taking over Ziguang, which was rejected, as were proposals from other financial organizations. The final decision went to the offers of ...

China’s tech crackdown impacts on SoftBank in Japan

China 12/14/21, 21:17

SoftBank Group Corp. is a Japanese multinational conglomerate holding company headquartered in Minato, Tokyo, and focuses on investment management. The Group primarily invests in companies operating in the technology, energy, and financial sectors. SoftBank has reported losses due to its investment in Chinese firms like Alibaba and DiDi Chuxing, the Chinese ...

Jack Ma’s whereabouts continue to be a mystery

China 12/08/21, 15:42

The whereabouts of Jack Ma, the founder of Alibaba, continue to be a mystery to the public. The last time he was seen in public was a month ago in Europe. At the end of October this year, the Hong Kong press reported that Jack Ma had arrived in Hong Kong ...

China concept stocks fall more than 9% : Over $100 billion evaporate after new US law

China 12/07/21, 15:32

U.S.–listed Chinese concept stocks plummeted on Friday, Dec. 3. The total market value quickly evaporated $108.3 billion after the U.S. imposed the Holding Foreign Companies Accountable Act (HFCAA). The Securities and Exchange Commission (SEC) announced that they had approved revisions to the HFCAA's final rule on Thursday. The rule required China's stock companies ...

Beijing heavily fines Alibaba and Baidu for failing to report old deals

Tech 11/20/21, 03:07

According to Reuters, China's market regulator on Saturday, Nov. 20, said it was fining companies including Alibaba, Baidu, and JD.com for violating anti-monopoly legislation, by not declaring 43 deals that date as far back as 2012 to authorities. Each enterprise involved in the cases would be fined $78,000, it said, the ...

Alibaba and Tencent start exchanging their apps’ ecosystem

Tech 10/18/21, 19:40

Two Chinese technology groups Alibaba Group Holding and Tencent Holdings had begun allowing each side's application ecosystem to exchange, ending the time when each technology company had a monopoly in its world. Chinese media reports that Alibaba services such as food delivery platform Ele.me and video streaming site Youku Tudou now ...

Beijing pressures Alibaba into liquidating media shares at 2.3 billion yuan loss

China 09/28/21, 20:22

A communist dictatorship forced a multinational e-commerce company into making a very unprofitable transaction on Sept. 23. The Chinese Communist Party (CCP) allegedly pressured Alibaba Group into disposing its shares in Mango Excellent Media (MEM), swiftly ending the company's first class-A shareholding. "[MEM received] a letter of recommendation on a request to ...

Alibaba suspends staff over sexual assault allegations

China 08/08/21, 18:15

Alibaba Group Holding Ltd. confirmed on Sunday, August 8, that it had disciplined several employees linked to allegations of sexual misconduct reported by a female staff member. “We have suspended relevant parties suspected of violating our policies and values, and we have established a special internal task force to investigate the ...

Trump signs memorandum to stem counterfeit goods trafficking

Politics 04/03/19, 10:26

President Donald Trump is signing a presidential memorandum aimed at curbing what the administration is calling the "Wild West" of online trafficking in counterfeit goods. The memorandum is aimed at stopping the sale of counterfeit products on sites like Amazon, Ebay and China's e-commerce leader, Alibaba. Peter Navarro directs the White House ...

Office Depot and Alibaba opening online store

Business 03/04/19, 14:07

Office Depot and Alibaba.com are creating a co-branded online store to expand the reach of both companies with small and medium size businesses.The two companies announced the agreement Monday as part of a broader array of services they are providing to small business. Over time, the companies intend to help ...

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