China slapped a record 18 billion yuan (£2billion) fine on Alibaba Group Holding Ltd on Saturday, after an anti-monopoly probe found the e-commerce giant had abused its dominant market position for several years. The fine, about 4 per cent of Alibaba’s 2019 domestic revenues, comes amid a crackdown on technology conglomerates and indicates China’s antitrust … Read more
China slapped a record 18 billion yuan (£2billion) fine on Alibaba Group Holding Ltd on Saturday, after an anti-monopoly probe found the e-commerce giant had abused its dominant market position for several years. The fine, about 4 per cent of Alibaba’s 2019 domestic revenues, comes amid a crackdown on technology conglomerates and indicates China’s antitrust … Read more
Short-selling guru Carson Block has warned that Chinese shares are ‘uninvestible’ following the disappearance of billionaire Alibaba founder Jack Ma. Block, one of the world’s best-known activist investors, said Ma’s disappearance is ‘just one of the reasons’ he is betting against Chinese firms. He said his main concern is dodgy accounting practices, but he also … Read more
Chinese billionaire Jack Ma is not missing, and is just laying low, sources have said, after he vanished following a speech about economic reform in the country. Ma founded Alibaba, Asia’s version of Amazon, with sources inside the company telling Fox Business that he is currently in hiding but is ‘not missing or detained’. One … Read more