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Alibaba plans to sell up to $8 bn bonds in show of strength as Jack Ma faces pressure in China

Pulling off the sale as Jack Ma’s internet empire faces a regulatory crackdown and antitrust probe would be a sign of global investor confidence in the company.
Alibaba raised about $11 billion from its Hong Kong stock sale in late 2019, and had a cash hoard of almost $90 billion at the end of September.(AP)
Alibaba raised about $11 billion from its Hong Kong stock sale in late 2019, and had a cash hoard of almost $90 billion at the end of September.(AP)
Published on Jan 06, 2021 08:17 PM IST
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By Bloomberg | Posted by Kunal Gaurav

Alibaba Group targets up to $8 billion bond sales by next week

The e-commerce giant aims to raise at least $5 billion but could wind up with more depending on reception, said the people who aren’t authorized to speak publicly and asked not to be identified.
Alibaba, which sat on a cash hoard of almost $90 billion at the end of September, continues to wage a bruising battle with Meituan in food delivery, while fending off rivals like JD.com Inc. and Tencent Holdings Ltd. in businesses from groceries to retail.(REUTERS)
Alibaba, which sat on a cash hoard of almost $90 billion at the end of September, continues to wage a bruising battle with Meituan in food delivery, while fending off rivals like JD.com Inc. and Tencent Holdings Ltd. in businesses from groceries to retail.(REUTERS)
Published on Jan 06, 2021 11:37 AM IST
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By Bloomberg | Posted by NIlavro Ghosh

China’s Alibaba to shut down Xiami music app next month

Alibaba acquired the music service in 2013, and invested millions of yuan to compete in China’s online music market, which is dominated by Tencent Holdings.
Xiami’s closure also comes after Chinese regulators announced that they had launched an antitrust investigation into Alibaba.(Reuters file photo)
Xiami’s closure also comes after Chinese regulators announced that they had launched an antitrust investigation into Alibaba.(Reuters file photo)
Published on Jan 05, 2021 10:17 PM IST
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Beijing/Shanghai | By Reuters | Posted by Deepali Sharma

Where is Jack Ma? Internet abuzz with questions about billionaire’s whereabouts

Ant Group was also under heavy scrutiny by the Chinese government after Jack Ma’s speech that criticised the regulation system of the country and called the banks “pawnshops”.
Speculation around Jack Ma’s disappearance comes after China’s antitrust probe on Alibaba and Ant Group.(AP file photo)
Speculation around Jack Ma’s disappearance comes after China’s antitrust probe on Alibaba and Ant Group.(AP file photo)
Updated on Jan 04, 2021 07:56 PM IST
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Hindustan Times, New Delhi | By hindustantimes.com | Edited by Deepali Sharma

Alibaba’s $10 billion buyback plan fails to halt stock slide as regulatory concerns mount

The shares of Jack Ma’s e-commerce and financial empire slumped 9% to their lowest since June on Monday.
FILE PHOTO: Signage for Alibaba Group Holding Ltd. covers the front facade of the New York Stock Exchange November 11, 2015. REUTERS/Brendan McDermid/File Photo
FILE PHOTO: Signage for Alibaba Group Holding Ltd. covers the front facade of the New York Stock Exchange November 11, 2015. REUTERS/Brendan McDermid/File Photo
Updated on Dec 29, 2020 01:59 PM IST
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Beijing/Hong Kong | By Reuters | Posted by Karan Manral

China’s crackdown on Alibaba worsen China’s internet selloff

Once hailed as the standard-bearers of China’s economic and technological ascendancy, Alibaba, now face increasing pressure from regulators worried about the speed with which they’re amassing hundreds of millions of users and gaining influence over almost every aspect of daily life.
The State Administration for Market Regulation kicked off an antitrust investigation into Alibaba last week and dispatched officials to its Hangzhou headquarters(REUTERS)
The State Administration for Market Regulation kicked off an antitrust investigation into Alibaba last week and dispatched officials to its Hangzhou headquarters(REUTERS)
Updated on Dec 28, 2020 10:57 AM IST
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By Bloomberg | Posted by Ayshee Bhaduri

Alibaba US-listed shares tumble most ever on China monopoly probe

Draft anti-monopoly rules released November gave the government wide latitude to restrain entrepreneurs who until recently enjoyed unusual freedom to expand their realms.
The decline took Alibaba to its lowest level since July, and the stock is now down 30% from an October peak.(Reuters file photo)
The decline took Alibaba to its lowest level since July, and the stock is now down 30% from an October peak.(Reuters file photo)
Published on Dec 25, 2020 08:09 AM IST
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By Bloomberg | Posted by Deepali Sharma

Alibaba to be probed for antitrust charges

The announcement spooked many investors who dumped shares of Alibaba’s subsidiaries and affiliates, as well as other internet firms that risk being targeted by Chinese antitrust regulators.
The Alibaba Group logo is seen during the company's 11.11 Singles' Day global shopping festival at their headquarters in Hangzhou, Zhejiang province, China.(REUTERS)
The Alibaba Group logo is seen during the company's 11.11 Singles' Day global shopping festival at their headquarters in Hangzhou, Zhejiang province, China.(REUTERS)
Updated on Dec 25, 2020 05:21 AM IST
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Livemint, Beijing | By Sutirtho Patranobis

China stocks dip as anti-trust probe into Alibaba hits tech shares

The probe is part of an accelerating crackdown on monopolistic behaviour in China’s booming internet space, and the latest setback for Alibaba founder Jack Ma.
Spooked investors dumped shares of Alibaba’s subsidiaries and affiliates, as well as other internet firms that risk being targeted by Chinese anti-trust regulators.(Bloomberg)
Spooked investors dumped shares of Alibaba’s subsidiaries and affiliates, as well as other internet firms that risk being targeted by Chinese anti-trust regulators.(Bloomberg)
Updated on Dec 24, 2020 01:59 PM IST
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Shanghai | By Reuters | Posted by Nilavro Ghosh

China targets Jack Ma’s Alibaba Group, orders probe for ‘monopolistic practices’

The probe is seen as a pushback by China’s communist party against internet giant Alibaba that has rapidly expanded its size and power.
Jack Ma-led Alibaba Group is being investigated under the anti-monopoly law, a move seen as an effort by ruling Communist Party to control fast-growing tech industries.(AFP)
Jack Ma-led Alibaba Group is being investigated under the anti-monopoly law, a move seen as an effort by ruling Communist Party to control fast-growing tech industries.(AFP)
Updated on Dec 24, 2020 03:46 PM IST
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Hindustan Times, Beijing | By Sutirtho Patranobis

China targets Jack Ma’s Alibaba empire in monopoly probe

The State Administration for Market Regulation is investigating Alibaba, the top antitrust watchdog said in a statement without further details.
Once hailed as drivers of economic prosperity and symbols of the country’s technological prowess, Alibaba and rivals like Tencent Holdings Ltd. face increasing pressure from regulators after amassing hundreds of millions of users and gaining influence over almost every aspect of daily life in China.(Reuters)
Once hailed as drivers of economic prosperity and symbols of the country’s technological prowess, Alibaba and rivals like Tencent Holdings Ltd. face increasing pressure from regulators after amassing hundreds of millions of users and gaining influence over almost every aspect of daily life in China.(Reuters)
Updated on Dec 24, 2020 10:37 AM IST
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By Bloomberg | Posted by Prashasti Singh

China could restrict bank tie-ups with fintech platforms, official suggests

China has vowed to strengthen oversight of its big tech firms, which include the likes of Alibaba Group Holding and Tencent Holdings. Speaking at a wealth management forum, China’s former finance minister Lou Jiwei, warned that fintech platforms with oversized market shares can lead to bad debts.
China’s former finance minister Lou Jiwei suggested that China could restrict the number of banks a single fintech platform can partner with(REUTERS)
China’s former finance minister Lou Jiwei suggested that China could restrict the number of banks a single fintech platform can partner with(REUTERS)
Published on Dec 20, 2020 02:50 PM IST
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Beijing | By Reuters | Posted by Ayshee Bhaduri

Gucci joins Alibaba’s luxury e-commerce site to woo Chinese consumers

Gucci, the profit engine of French group Kering, is one of the most prized names to join the Tmall Luxury Pavilion platform, which was created in 2017 and now boasts more than 200 brands ranging from apparel to high-end cars.
Gucci’s first flagship store, selling fashion and leather goods collections, will open on Decemver 21.(REUTERS)
Gucci’s first flagship store, selling fashion and leather goods collections, will open on Decemver 21.(REUTERS)
Published on Dec 18, 2020 03:25 PM IST
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Milan | By Reuters | Posted by Kunal Gaurav

China’s Alibaba ‘eliminates’ ethnic tag that identifies Uighur muslims

A report this week revealing the software feature made Alibaba, one of the world’s most valuable companies, the latest Chinese corporate entity embroiled in the controversy over China’s treatment of Uighurs.
The Alibaba Group Holding Ltd. headquarters during the company's annual November 11 Singles' Day online shopping event in Hangzhou, China. The Uighur issue looms as a worrying threat for Chinese companies as global criticism grows over Beijing’s policies in the northwest region of Xinjiang.(Bloomberg)
The Alibaba Group Holding Ltd. headquarters during the company's annual November 11 Singles' Day online shopping event in Hangzhou, China. The Uighur issue looms as a worrying threat for Chinese companies as global criticism grows over Beijing’s policies in the northwest region of Xinjiang.(Bloomberg)
Updated on Dec 18, 2020 12:43 PM IST
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Beijing | By Agence France-Presse| Posted by Mallika Soni

China’s Alibaba, Tencent unit fined under anti-monopoly law

In this file photo, a man talks on his phone as a woman rides on an electric bike past a company logo at the Alibaba Group headquarters in Hangzhou in eastern China's Zhejiang province. China’s market regulator on Monday, Dec. 14, 2020 said it fined Alibaba Group and a Tencent Holdings-backed company for failing to seek approval before proceeding with some acquisitions. (AP Photo/Ng Han Guan, File)
In this file photo, a man talks on his phone as a woman rides on an electric bike past a company logo at the Alibaba Group headquarters in Hangzhou in eastern China's Zhejiang province. China’s market regulator on Monday, Dec. 14, 2020 said it fined Alibaba Group and a Tencent Holdings-backed company for failing to seek approval before proceeding with some acquisitions. (AP Photo/Ng Han Guan, File)
Updated on Dec 14, 2020 03:17 PM IST
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Hong Kong | By Associated Press | Posted by Karan Manral

Alibaba CEO says China’s draft anti-monopoly rules ‘timely and necessary’

Alibaba’s e-commerce marketplaces and payment services are also expected to face greater oversight under the draft rules published on Nov. 10 by China’s market regulator, which said it wanted to prevent platforms from dominating the market or from adopting methods aimed at blocking fair competition.
Alibaba Group CEO Daniel Zhang (Zhang Yong) at the World Internet Conference (WIC) in Wuzhen, Zhejiang province, China, November 23, 2020.(Reuters Photo)
Alibaba Group CEO Daniel Zhang (Zhang Yong) at the World Internet Conference (WIC) in Wuzhen, Zhejiang province, China, November 23, 2020.(Reuters Photo)
Published on Nov 23, 2020 09:58 AM IST
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Wuzhen, China | By Reuters | Posted by Kanishka Sarkar

China Singles Day online sales touches record high

Along with JD.com, Alibaba racked up around $115bn in sales across their platforms during the Singles Day shopping event.
A screen shows sales totals at the end of the Singles' Day shopping festival at the 2020 Tmall Global Shopping Festival media centre in Hangzhou, in eastern China's Zhejiang province on November 11.(AFP)
A screen shows sales totals at the end of the Singles' Day shopping festival at the 2020 Tmall Global Shopping Festival media centre in Hangzhou, in eastern China's Zhejiang province on November 11.(AFP)
Updated on Nov 12, 2020 03:25 PM IST
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Hindustan Times, Beijing | By Sutirtho Patranobis , edited by Vinod Janardhanan

China turns up heat on internet giants with antitrust rules

China’s antitrust watchdog is seeking feedback on a raft of regulations that establish a framework for curbing anti-competitive behavior such as colluding on sharing sensitive consumer data.
Consumers in China have in recent years protested against the gradual erosion of their privacy.(REUTERS File Photo)
Consumers in China have in recent years protested against the gradual erosion of their privacy.(REUTERS File Photo)
Updated on Nov 10, 2020 02:48 PM IST
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By Bloomberg | Posted by Srivatsan K C

375% return on one startup to help SoftBank get past WeWork woes

SoftBank has engineered a comeback this year after missteps with startups like WeWork and concerns about fallout from the coronavirus pandemic.
SoftBank invested $1.35 billion last November in a Beijing-based company called KE Holdings Inc.(Reuters File Photo)
SoftBank invested $1.35 billion last November in a Beijing-based company called KE Holdings Inc.(Reuters File Photo)
Published on Nov 09, 2020 07:45 AM IST
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By Bloomberg | Posted by Kanishka Sarkar

Alibaba beats quarterly sales estimates on e-commerce strength

The results come on the heels of China’s surprise suspension of Alibaba affiliate Ant Group’s record $37 billion Shanghai listing that was viewed by analysts and investors as an attempt to cut founder Jack Ma and his financial services empire down to size.
Sales from Alibaba’s core e-commerce business rose 29% to 130.92 billion yuan in the reported quarter.(AP file photo)
Sales from Alibaba’s core e-commerce business rose 29% to 130.92 billion yuan in the reported quarter.(AP file photo)
Published on Nov 05, 2020 06:59 PM IST
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Reuters | By Reuters| Posted by: Harshit Sabarwal

Alibaba shares plunge 9.6 per cent after Shanghai, Hong Kong suspends Ant Group IPO

Alibaba owns about a third of the payments company, which was expected to begin trading on both exchanges on Nov 5.
Ant Group’s listing in Shanghai was halted amid changes in the regulatory environment, according to a statement, which didn’t provide further details.(Reuters file photo)
Ant Group’s listing in Shanghai was halted amid changes in the regulatory environment, according to a statement, which didn’t provide further details.(Reuters file photo)
Published on Nov 03, 2020 11:18 PM IST
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By Bloomberg | Posted by Deepali Sharma

Alibaba’s secret three-year experiment to remake the factory

Alibaba’s path to smart manufacturing starts with garments, a market worth 2.2 trillion yuan ($328 billion) in China last year based on Euromonitor International’s estimates.
An Alibaba Cloud sign is seen at the Alibaba Group booth during the fourth World Internet Conference in Wuzhen, Zhejiang province, China.(Reuters File Photo)
An Alibaba Cloud sign is seen at the Alibaba Group booth during the fourth World Internet Conference in Wuzhen, Zhejiang province, China.(Reuters File Photo)
Published on Nov 02, 2020 07:04 AM IST
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By Bloomberg | Posted by Kanishka Sarkar

JPC questions Google, Paytm over China links

The panel has given Google and Paytm time to submit written responses to queries on structure, tax regimes, data processing and protection, and privacy.
The panel has already met Twitter, Facebook, and Amazon.(Reuters File Photo)
The panel has already met Twitter, Facebook, and Amazon.(Reuters File Photo)
Updated on Oct 30, 2020 03:07 AM IST
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Hindustan Times, New Delhi | By Deeksha Bhardwaj

Tata eyes majority stake in e-grocer BigBasket

For the Tata group, the deal is aimed at securing as much control as possible in India’s fast-growing e-commerce market before Reliance Industries Ltd and Flipkart become too big, said the second person.
The deal, if struck, will give Tata group an immediate head-start to take on the three big players in India’s thriving online grocery marketplace: Reliance Industries Ltd, Walmart-owned Flipkart and Amazon.(Bloomberg)
The deal, if struck, will give Tata group an immediate head-start to take on the three big players in India’s thriving online grocery marketplace: Reliance Industries Ltd, Walmart-owned Flipkart and Amazon.(Bloomberg)
Published on Oct 28, 2020 06:12 AM IST
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Hindustan Times, Mumbai | By Anirudh Laskar

Alibaba puts India investment plan on hold amid China tensions: Report

The Chinese conglomerate and its affiliates Alibaba Capital Partners and Ant Group have invested more than $2 billion in Indian companies since 2015 and participated in funding rounds of at least another $1.8 billion, according to data from PitchBook.
An Alibaba Cloud sign is seen at the Alibaba Group booth in Wuzhen, Zhejiang province, China.(Reuters File Photo)
An Alibaba Cloud sign is seen at the Alibaba Group booth in Wuzhen, Zhejiang province, China.(Reuters File Photo)
Updated on Aug 27, 2020 01:24 AM IST
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New Delhi/Hong Kong | By Reuters | Posted by Kanishka Sarkar

Alibaba appeals to Donald Trump, says its role is to support America

“As the world’s largest e-commerce platform, Alibaba’s primary commercial focus in the US is to support American brands, retailers, small businesses and farmers to sell to consumers and trade partners in China as well as other key markets around the world,” Chief Executive Officer Daniel Zhang said on an earnings call.
“We believe global trade will continue, and Alibaba’s active pursuit of our mission ‘to make it easy to do business anywhere’ is fully aligned with the interests of both China and the US,” CEO Zhang said.(Reuters file photo)
“We believe global trade will continue, and Alibaba’s active pursuit of our mission ‘to make it easy to do business anywhere’ is fully aligned with the interests of both China and the US,” CEO Zhang said.(Reuters file photo)
Published on Aug 20, 2020 08:06 PM IST
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By Bloomberg| Posted by: Harshit Sabarwal

Hong Kong’s benchmark index poised to include tech giant Alibaba

The embrace of benchmark-beating technology companies is considered an overdue move for an underperforming gauge that is overstuffed with banks and financial stocks.
Hang Seng Indexes Co. is due to unveil the first major changes under new rules to allow dual-class shares and secondary listings. Among stocks that are now eligible to be included are Alibaba, China’s largest food delivery website Meituan Dianping and Xiaomi Corp.(REUTERS)
Hang Seng Indexes Co. is due to unveil the first major changes under new rules to allow dual-class shares and secondary listings. Among stocks that are now eligible to be included are Alibaba, China’s largest food delivery website Meituan Dianping and Xiaomi Corp.(REUTERS)
Updated on Aug 14, 2020 12:56 PM IST
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By Bloomberg | Posted by: Shankhyaneel Sarkar

Indian court summons Alibaba, founder Jack Ma on former employee’s complaint: Report

The case comes weeks after India cited security concerns in banning Alibaba’s UC News, UC Browser and 57 other Chinese apps after a clash between the two countries’ forces on their border.
Alibaba representatives did not respond to requests for comment from the Chinese company or on behalf of Jack Ma.(Reuters file photo)
Alibaba representatives did not respond to requests for comment from the Chinese company or on behalf of Jack Ma.(Reuters file photo)
Updated on Jul 26, 2020 03:06 PM IST
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New Delhi | By Reuters| Posted by: Harshit Sabarwal

Alibaba’s UCWeb lays off India staff, Club Factory halts payments after app ban

UCWeb, which entered India a decade ago and operated the browser along with a news app and the Vmate short video app, told some employees in a letter dated July 15 and seen by Reuters that they were losing their jobs.
UCWeb said in a statement that it had complied with the government order and stopped services but did not comment on whether it had shut operations entirely.(Bloomberg)
UCWeb said in a statement that it had complied with the government order and stopped services but did not comment on whether it had shut operations entirely.(Bloomberg)
Published on Jul 16, 2020 02:51 PM IST
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New Delhi | By Reuters| Posted by Susmita Pakrasi

Jack Ma dethroned as China’s richest by Tencent’s Pony Ma

The country’s largest game developer has surpassed Alibaba Group Holding Ltd. as Asia’s most-valuable company, with its shares rising above HK$500 in intraday trading Wednesday for the first time.
The coronavirus pandemic has accelerated the digitization of the workplace and changed consumers’ habits, boosting shares of many internet companies.(Bloomberg)
The coronavirus pandemic has accelerated the digitization of the workplace and changed consumers’ habits, boosting shares of many internet companies.(Bloomberg)
Updated on Jun 24, 2020 08:56 PM IST
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By Bloomberg | Posted by: Shivani Kumar
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