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Alibaba Loses $100 Billion Amid Battle In China's Food Delivery Market
A protracted battle in China's food-delivery market has chopped $100 billion in market value from Alibaba Group Holding Ltd., with no end in sight for damage to profits and investor confidence.
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Alibaba's Ex CEO Resigns As Jack Ma's Lieutenants Take Up Positions
Alibaba Group Holding Ltd.'s former chief Daniel Zhang has decided to quit just months after agreeing to lead its cloud division, introducing another layer of uncertainty to China's largest e-commerce company.
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Chinese Premier Urges Tech Giants To Support Economy As Crackdown Ends
China on Wednesday sent another strong signal that a years-long crackdown on its tech industry is over as Premier Li Qiang met firms such as Alibaba's cloud unit and Meituan, and urged them to do more to support the economy.
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Alibaba, Huawei Unveil New Products, Image Generator as AI Race Heats Up in China
Alibaba Group Holdings and Huawei Technologies Co on Friday showcased new products, including an artificial intelligence (AI) image generator and an AI model upgrade, as Chinese companies jostle for position in the global AI race.
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Alibaba Turns To Little-Known Coder To Continue Jack Ma's Legacy
Alibaba Group Holding Ltd. ushered through a parade of high-profile stewards over its 24-year history, from the larger-than-life Jack Ma himself to a succession of C-suite executives who frequent conference and diplomatic circles.
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Baidu Launches $145 Million Venture Capital Fund for Startups Working on AI
Chinese search giant Baidu will set up a venture capital fund of CNY 1 billion ($145 million, or roughly Rs. 1,200 crore) to back startups focused on content generated by artificial intelligence applications, it said on Wednesday.
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US Senators Urge US President Joe Biden to Sanction Huawei Cloud, Other Chinese Cloud Service Providers
Huawei Cloud and other Chinese cloud service providers should be sanctioned; a group of US senators has urged US President Joe Biden. Nine Republican senators have cited national security concerns in their call to the Biden administration to impose sanctions on the Chinese firms.
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Alibaba to Split Into 6 Units as China Vows to Ease Crackdown on Private Sector
Alibaba said the biggest restructuring in its 24-year history would see it split into six units - Cloud Intelligence Group, Taobao Tmall Commerce Group, Local Services Group, Cainiao Smart Logistics Group, Global Digital Commerce Group and Digital Media and Entertainment Group.
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China Acquires 'Golden Shares' in Two Alibaba Units in Bid to Strengthen Control Over Online Content
China has purchased 'golden shares', or minority stakes with special rights, in two of Alibaba's domestic units. Golden shares grant government-backed funds or companies board representation and/or veto rights for key business decisions. Beijing is looking to extend a campaign to strengthen control over online content, and Alibaba has been one of t...
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Jack Ma to Handover Ant Group’s Control as Part of Company’s Restructure
Chinese billionaire Jack Ma will cede control of fintech giant Ant Group as part of a restructure, the company announced Saturday. Regulators this week announced that Ant had won approval to raise CNY 10.5 billion (roughly Rs. 12,300 crore) for its consumer finance arm in a further sign that authorities may be loosening their grip on the firm.
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Alibaba Lays Off Nearly 10,000 Employees In 3 Months: Report
Chinese e-commerce giant Alibaba Group Holding Ltd. has fired around 10,000 employees, in three months, various media reported.
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Alibaba Executives Reportedly Summoned by Shanghai Authorities Over Data Theft Probe
Executives from Alibaba Group Holdings' cloud division have been summoned by Shanghai authorities in connection with a theft of police data on Chinese citizens, the Wall Street Journal reported on Thursday. Earlier this month, it was reported that a hacker claiming to have stolen personal data from hundreds of millions of Chinese citizens is now se...
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Beijing Gives Initial Nod To Revive Ant IPO After Crackdown Cools: Report
China's central leadership has given billionaire Jack Ma's Ant Group a tentative green light to revive its initial public offering (IPO), two sources with knowledge of the matter said.
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Paytm Payments Bank Says RBI Curbs to be Lifted in 3 to 5 Months
Paytm payments bank, which facilitates transactions on mobile commerce platform Paytm, says the central bank will allow it to resume taking on new customers in the next few months.
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Alibaba Fires Woman Who Accused Boss of Rape In #MeToo Setback
Alibaba Group Holding Ltd. has fired a woman who accused a manager of sexual assault, a surprise move that came just months after China's e-commerce leader admitted bungling its initial response to the allegation.
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Alibaba Loses $100 Billion Amid Battle In China's Food Delivery Market
A protracted battle in China's food-delivery market has chopped $100 billion in market value from Alibaba Group Holding Ltd., with no end in sight for damage to profits and investor confidence.
-
Alibaba's Ex CEO Resigns As Jack Ma's Lieutenants Take Up Positions
Alibaba Group Holding Ltd.'s former chief Daniel Zhang has decided to quit just months after agreeing to lead its cloud division, introducing another layer of uncertainty to China's largest e-commerce company.
-
Chinese Premier Urges Tech Giants To Support Economy As Crackdown Ends
China on Wednesday sent another strong signal that a years-long crackdown on its tech industry is over as Premier Li Qiang met firms such as Alibaba's cloud unit and Meituan, and urged them to do more to support the economy.
-
Alibaba, Huawei Unveil New Products, Image Generator as AI Race Heats Up in China
Alibaba Group Holdings and Huawei Technologies Co on Friday showcased new products, including an artificial intelligence (AI) image generator and an AI model upgrade, as Chinese companies jostle for position in the global AI race.
-
Alibaba Turns To Little-Known Coder To Continue Jack Ma's Legacy
Alibaba Group Holding Ltd. ushered through a parade of high-profile stewards over its 24-year history, from the larger-than-life Jack Ma himself to a succession of C-suite executives who frequent conference and diplomatic circles.
-
Baidu Launches $145 Million Venture Capital Fund for Startups Working on AI
Chinese search giant Baidu will set up a venture capital fund of CNY 1 billion ($145 million, or roughly Rs. 1,200 crore) to back startups focused on content generated by artificial intelligence applications, it said on Wednesday.
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US Senators Urge US President Joe Biden to Sanction Huawei Cloud, Other Chinese Cloud Service Providers
Huawei Cloud and other Chinese cloud service providers should be sanctioned; a group of US senators has urged US President Joe Biden. Nine Republican senators have cited national security concerns in their call to the Biden administration to impose sanctions on the Chinese firms.
-
Alibaba to Split Into 6 Units as China Vows to Ease Crackdown on Private Sector
Alibaba said the biggest restructuring in its 24-year history would see it split into six units - Cloud Intelligence Group, Taobao Tmall Commerce Group, Local Services Group, Cainiao Smart Logistics Group, Global Digital Commerce Group and Digital Media and Entertainment Group.
-
China Acquires 'Golden Shares' in Two Alibaba Units in Bid to Strengthen Control Over Online Content
China has purchased 'golden shares', or minority stakes with special rights, in two of Alibaba's domestic units. Golden shares grant government-backed funds or companies board representation and/or veto rights for key business decisions. Beijing is looking to extend a campaign to strengthen control over online content, and Alibaba has been one of t...
-
Jack Ma to Handover Ant Group’s Control as Part of Company’s Restructure
Chinese billionaire Jack Ma will cede control of fintech giant Ant Group as part of a restructure, the company announced Saturday. Regulators this week announced that Ant had won approval to raise CNY 10.5 billion (roughly Rs. 12,300 crore) for its consumer finance arm in a further sign that authorities may be loosening their grip on the firm.
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Alibaba Lays Off Nearly 10,000 Employees In 3 Months: Report
Chinese e-commerce giant Alibaba Group Holding Ltd. has fired around 10,000 employees, in three months, various media reported.
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Alibaba Executives Reportedly Summoned by Shanghai Authorities Over Data Theft Probe
Executives from Alibaba Group Holdings' cloud division have been summoned by Shanghai authorities in connection with a theft of police data on Chinese citizens, the Wall Street Journal reported on Thursday. Earlier this month, it was reported that a hacker claiming to have stolen personal data from hundreds of millions of Chinese citizens is now se...
-
Beijing Gives Initial Nod To Revive Ant IPO After Crackdown Cools: Report
China's central leadership has given billionaire Jack Ma's Ant Group a tentative green light to revive its initial public offering (IPO), two sources with knowledge of the matter said.
-
Paytm Payments Bank Says RBI Curbs to be Lifted in 3 to 5 Months
Paytm payments bank, which facilitates transactions on mobile commerce platform Paytm, says the central bank will allow it to resume taking on new customers in the next few months.
-
Alibaba Fires Woman Who Accused Boss of Rape In #MeToo Setback
Alibaba Group Holding Ltd. has fired a woman who accused a manager of sexual assault, a surprise move that came just months after China's e-commerce leader admitted bungling its initial response to the allegation.
