Top Chinese billionaire Jack Ma and founder of e-commerce giant Alibaba, has been living in central Tokyo for almost six months, according to a report by the British daily Financial Times. Ma, who was once the richest business leader in China, shifted to neighbouring Japan, amid the Chinese government’s crackdown on the […]
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Alibaba dumping Chinese media company’s shares after Beijing’s clampdown on big-tech
Of late China’s big tech firms like Alibaba, Tencent and Baidu are facing problems under growing pressure from Beijing’s campaign to rein in their power and influence. Owing to the clampdown, Alibaba is dumping its shares in one of China’s largest TV broadcasters just months after it bought them, reported CNN. Alibaba […]
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China slaps record $2.8 billion fine on Alibaba after antitrust probe
Chinese regulators on Saturday slapped a record fine of 18.2 billion yuan (2.8 billion dollars) on e-commerce giant Alibaba Group Holding after a months-long antitrust investigation that was initiated on Christmas eve last year, reports South China Morning Post. The fine imposed by State Administration for Market Regulation (SAMR) was more than double the previous record of 6.1 billion […]