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 […]

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 […]