Friday, Apr 16, 2021
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China fines Alibaba record $2.75 billion for anti-monopoly violations
China slapped a record 18 billion yuan ($2.75 billion) 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.
Exclusive: China's antitrust regulator bulking up as crackdown on behemoths widens
China’s competition watchdog is adding staff and other resources as it ramps up efforts to crack down on anti-competitive behaviour, especially among the country’s powerful companies, people with knowledge of the matter told Reuters.
Huawei To Shutter Cloud Computing, AI Business Groups Amid Restructuring As US-China Trade War Bites
The news reveals troubles faced by the Shenzhen-based firm, namely amid the ongoing US trade war on China and ongoing COVID-19 pandemic, according to media reports.
China mulls new bourse to lure overseas-listed firms
Beijing is exploring options to establish a new stock exchange that targets firms listed overseas and could bolster the global status of its onshore share markets, Reuters reported, citing sources.
Chinese apps join celebs in backlash against Western fashion brands over Xinjiang
China’s top ride-hailing app dropped Swedish fashion retailer H&M from its listings as Chinese celebrities stopped endorsing foreign labels in a growing uproar over Western accusations of “forced labour” in Xinjiang.
H&M and Nike are facing a boycott in China
H&M, Nike and other big Western apparel brands are facing a boycott in China because of the stand they've taken against the alleged use of forced labor to produce cotton in the country's western region of Xinjiang.
Why did Alibaba's Jack Ma disappear for three months?
Jack Ma was about to become the richest man in China.
Musk says Tesla would be shut down if its cars spied in China, elsewhere
Tesla Inc chief executive Elon Musk said on Saturday his company would be shut down if its cars were used to spy, his first comments on news that China’s military has banned Teslas from its facilities.
China's Xi Jinping warns of tech crackdown, Alibaba pulled from app stores
CCP officials on Monday warned of tech giants 'growing in an inappropriate manner'
Beijing asks Alibaba to shed its media assets
Under Jack Ma’s leadership, the company built a formidable portfolio of media holdings
Hong Kong rises to fourth place in global financial centre rankings
Hong Kong rose two places in this year’s Global Financial Centres Index, but is yet to fully recover from the impact of the social unrest in 2019, study shows.
India is trying to build its own internet
While Twitter finds itself in a prolonged standoff with the Indian government over the company's refusal to take down certain accounts, a senior executive of a very similar Indian social network says the sudden attention on his app has b...
From Crypto to Offshore Accounts: Tactics Used to Get Cash Out of China
There’s barely a global asset that isn’t influenced by Chinese money, from the latest hot Hong Kong public offering to luxury apartments in Vancouver.
China's Ant Group CEO Departs Amid Regulatory-Driven Revamp
Hu, who was named the chief executive of the Alibaba Group Holding in 2019, will be replaced by company veteran and Executive Chairman Eric Jing, the financial technology giant said.
China Eyes Record Monopoly Fine Near $1 Billion For Alibaba
China is considering imposing a record fine of nearly $1 billion on e-commerce giant Alibaba for allegedly flouting monopoly rules, according to a report, as authorities continue to put the screws on the firm as part of a crackdown on th...
Ant Group Exec Tells Workers Firm to Go Public as State Regulators Slam 'Insufficient' Data Sharing
An internal post from a top executive responded to concerns from an employee over the company's future and talent retention strategy, and comes after major challenges following the suspension of a historic public listing in November last...
Clubhouse app: what is it and how do you get an invite to the exclusive audio app?
The exclusive invitation-only social networking app is a hybrid of conference calls, talkback radio and Houseparty
Alibaba is back in Beijing's good books for helping to fix poverty
Jack Ma's tech empire may still be facing tough new regulations in China, but Alibaba seems to have won at least a little bit of favor this week from President Xi Jinping.
Analysis: Jack Ma's Ant Group was the next big thing. Now it may become just a boring bank
Jack Ma's Ant Group quickly became one of China's most powerful companies, and its plans for bridging the worlds of tech and finance were growing ever more ambitious by the day.
TikTok is laying off employees in India as ban becomes permanent
TikTok has been forced to lay off some of its workers in India as the country doubles down on what was already a monthslong ban on the app in the country.
UN Chief Welcomes US Decision To Re-Engage With Human Rights Council
Under the Trump administration, the US had withdrawn from the United Nations Human Rights Council, condemning the "hypocrisy" of its members and its alleged "unrelenting bias" against Israel.
China issues new anti-monopoly rules targeting its tech giants
China’s market regulator released new anti-monopoly guidelines on Sunday that target internet platforms, tightening existing restrictions faced by the country’s tech giants.
I predict that the 21st century is going to be Indian century: Jeff Bezos
Read more about I predict that the 21st century is going to be Indian century: Jeff Bezos on Business-standard. Under Bezoss leadership, Amazon identified India as a strategic market as early as 2013
Ant Group reaches agreement with regulators on overhaul
An agreement between Ant Group and the regulators would lift a cloud of uncertainty hanging over the company and from across the financial technology industry.
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