Alexa

Business Highlights

___ White House grades states’ infrastructure as it pushes bill WASHINGTON (AP) — President Joe Biden wants Congress to know he’s sincere about cutting a deal on in...

Chinese regulator orders Ant Group to conduct major overhaul

HONG KONG (AP) — Chinese regulators have ordered Ant Group, a financial affiliate of e-commerce giant Alibaba Group Holding, to become a financial holding company to ease financial oversight amid step...

Alibaba shrugs off $2.75 billion antitrust fine, shares rally

SHANGHAI (Reuters) -Alibaba does not expect any material impact from the antitrust crackdown in China that will push it to overhaul how it deals with merchants, its CEO said on Monday, after regulator...

Asia off to cautious start ahead of earnings, US data

SYDNEY (Reuters) - Asian shares started cautiously on Monday as investors wait to see if U.S. earnings can justify sky-high valuations, while bond markets could be tested by what should be very strong...

China regulators fine Alibaba $2.75 billion for anti-monopoly violations

Chinese regulators have fined Alibaba Group Holding Ltd 18 billion yuan ($2.75 billion) for violating anti-monopoly rules and abusing its dominant market position, marking the highest ever antitrust f...

China halts new enrollments at business school backed by Jack Ma: FT

Beijing authorities have forced an elite business school backed by Alibaba Group Co Ltd founder Jack Ma to halt enrollments, the Financial Times said on Friday (April 9), citing sources familiar with ...

China attacks foreign clothing, shoe brands over Xinjiang

BEIJING (AP) — China’s ruling Communist Party is lashing out at H&M and other clothing and footwear brands as it retaliates for Western sanctions on Chinese officials accused of human ...

Asian shares wobble in volatile trade as China tech selloff weighs

Asian equities bounced between gains and losses on Thursday (March 25) as a selloff in Chinese technology shares due to concerns they will be de-listed from U.S. bourses and worries about a semiconduc...

Analysis: China's small tech firms step out of the shadows as giants reel from regulatory crackdown

One firm’s loss is another’s gain. China’s smaller technology companies and investors are eager to seize the day as a sweeping crackdown by anti-monopoly regulators on the country&rs...

China regulators held talks with Alibaba, Tencent, nine others on 'deepfake' tech

Chinese regulators recently summoned 11 domestic technology companies including Alibaba Group, Tencent, and ByteDance for talks on the use of "deepfake" technologies on their content platfor...

Founder of Chinese e-commerce firm Pinduoduo departs

HONG KONG (AP) — Colin Huang, founder of the Chinese e-commerce firm Pinduoduo, stepped down as chairman Wednesday just as the company’s annual user base surpassed that of rival Alibaba. ...

China asks Alibaba to dispose of media assets: WSJ

China’s government has asked Alibaba Group Holding Ltd to dispose of its media assets, the Wall Street Journal reported on Monday (March 15), citing people familiar with the matter. Discussio...

Extended Stay, AMC rise; Eli Lilly, US Steel fall

NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Monday: Extended Stay America Inc., up $2.27 to $19.21. Blackstone Real Estate Partners ...

Ant Group CEO resigns for personal reasons

The CEO of Ant Group, the world’s biggest financial technology company, has resigned from the company due to personal reasons. Ant Group thanked Simon Hu on Friday for his contributi...

Chinese state newspaper omits Jack Ma from list of entrepreneurial leaders

Alibaba Group founder Jack Ma has been left off a list of Chinese entrepreneurial leaders published by state media - the snub underscoring how just far he has fallen out of favor with Beijing. Chin...