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SHANGHAI, Nov 16, 2023 (AFP) – Chinese e-commerce giant Alibaba said Thursday it was cancelling a planned cloud service spinoff announced this year over US chip restrictions, as it reported results for the third quarter of 2023 that were in line with market expectations. The company saw a 9 percent year-on-year increase in Q3 revenue, it said Thursday, following several difficult years and despite a broader economic slowdown. “Alibaba Group delivered a solid quarter, marked […]
BEIJING, June 20, 2023 (AFP) – Chinese tech giant Alibaba said Tuesday it will replace its top boss, in a surprise move at the e-commerce titan as it looks to recover from years of slow growth caused by weak consumer spending and a regulatory crackdown. The move comes as the market leader prepares to undergo a fundamental reorganisation of its sprawling business operations, which span cloud computing, e-commerce, logistics, media and entertainment, and artificial intelligence. […]
TOKYO, May 1, 2023 (AFP) – Chinese billionaire Jack Ma on Monday took up a visiting professor position at a Japanese university, another new academic role for the founder of tech giant Alibaba. Tokyo College, part of the prestigious University of Tokyo, said Ma would “share his rich experience and pioneering knowledge on entrepreneurship, corporate management and innovation” in seminars for students and staff. The 58-year-old has kept a low profile since his fall from […]
BEIJING, China (AFP) — Japanese tech investment titan SoftBank has decided to sell nearly all of its stake in Alibaba to limit exposure to China, the Financial Times reported Thursday. SoftBank was an early investor in the Chinese internet giant founded by Jack Ma but began to offload its shares last year. According to the report, SoftBank, which once owned 34 percent of Alibaba, has sold more than $7 billion of its shares since the […]
BEIJING, China (AFP) — Chinese e-commerce giant Alibaba said Thursday it was working on a rival to ChatGPT, joining a flurry of global tech firms rushing to match the popular AI-powered chatbot. ChatGPT has sparked a gold rush in artificial intelligence technology, with Microsoft, Google and China’s Baidu all working to develop chatbots that can mimic human speech. The service, created by San Francisco company OpenAI, has caused a sensation for its ability to write […]
HONG KONG, China (AFP) — Chinese e-commerce giant Alibaba led technology stocks lower in Hong Kong on Monday after US authorities put it on a watchlist that could see it delisted in New York if it does not comply with disclosure orders. The market heavyweight sank more than five percent in early trade, pushing it to its lowest level since May and dragging the Hang Seng Tech Index with it. The US securities watchdog on […]
BEIJING, China (AFP) — Chinese billionaire Jack Ma, founder of ecommerce giant Aibaba, is going to step down as president of the elite business school he founded after having been caught in a Beijing clampdown on tech titans, the Financial Times reported Monday. Ma, formerly one of China’s most flambouyant entrepreneurs, has largely disappeared from public view since Alibaba’s fintech arm was investigated and fined by regulators for alleged monopolistic practices. The Financial Times report […]
by Dan Martin / Beiyi SEOW Agence France-Presse SHANGHAI, China (AFP) — Chinese entrants in the race to put autonomous vehicles on the road are bringing “robotaxis” online in hopes that a hired-car format can be the key to unlocking wide acceptance of the futuristic technology. It is expected to be years before cars that operate completely without human intervention are unleashed owing to lingering technological, regulatory, and safety hurdles. But as China challenges US […]
(Eagle News) – “United we stand, divided we fall.” Noted Chinese billionaire and business magnate Jack Ma said this in a statement on Friday, March 13, as he offered to give half a million testing kits and a million face masks to the United States. This was after the US — where confirmed coronavirus cases hit more than 1,200 and 33 deaths due to the virus — reported a severe shortage of testing kits […]
by Dan Martin SHANGHAI, China (AFP) — Chinese customers spent billions of dollars during the opening hours of the country’s annual “Singles’ Day” frenzy Monday, the world’s biggest 24-hour shopping event that was kicked off by US megastar Taylor Swift. E-commerce giant Alibaba said the first $1 billion spent on its platforms was reached in just 68 seconds. The total gross merchandise volume settled through its payments platform Alipay hit 100 billion yuan ($14.3 billion) […]
by Dan Martin SHANGHAI, China (AFP) — Jack Ma steps aside on Tuesday as chairman of Alibaba, ending a spectacularly successful 20-year run during which the charismatic former English teacher’s e-commerce company left a profound impact on China’s economy. Ma, who turns 55 on Tuesday, hands the reins of the company he co-founded to a team of executives led by CEO Daniel Zhang. Ma intends to put his $41 billion fortune toward philanthropic projects such […]
NEW YORK, United States (AFP) — An expanded partnership for NBA China and Alibaba Group announced Wednesday will bring NBA content to Alibaba platforms for the first time and boost online shopping opportunities for Chinese consumers. The “NBA Section” to be launched across all Alibaba platforms will allow league fans in China to personalize and engage with more NBA content. NBA game highlights, games from past seasons and original programs will be offered to almost […]
