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Asian shares mixed as China growth worries crimp U.S. debt ceiling optimism Asian shares nudged lower on Friday, weighed down by China and Hong Kong stocks due to concerns over the stuttering recovery in the world's second-biggest economy, although Japan's Nikkei clocked a near 33-year peak. MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.20% but was set to eke out a gain of 0.19% for the week. China shares fell 0.61%, while Hong Kong's Hang Seng index dropped as much as 1.8%, dragged down by tech stocks after Alibaba Group Ho...
Asian shares mixed as China growth worries crimp U.S. debt ceiling optimism
Asian shares mixed as China growth worries crimp U.S. debt ceiling optimism
Source: Reuters
19/05/2023 8:42:25 AM
SoftBank Vision Fund loses massive $32 bn as tech startups bleed Japanese investment giant SoftBank has posted a record $32 billion loss at its Vision Fund for the fiscal year that ended in March 2023, as funding winter continues amid global macroeconomic conditions. As tech startups valuations continue to dip, the Vision Fund vertical posted a 4.3 trillion Japanese yen (about $32 billion) loss for its fiscal year. "The fair value of a wide range of private portfolio companies also decreased, reflecting markdowns of weaker-performing companies a...
SoftBank Vision Fund loses massive $32 bn as tech startups bleed
SoftBank Vision Fund loses massive $32 bn as tech startups bleed
Source: IANS
11/05/2023 2:12:01 PM
Alibaba to split into 6 business units, pursue IPOs  Chinese tech giant Alibaba on Tuesday said that it is planning to split the company into six business units, and each unit will explore fundraising or IPOs (initial public offerings), media reports said. The six units will include the Cloud Intelligence Group, Taobao Tmall Commerce Group, Local Services Group, Cainiao Smart Logistics Group, Global Digital Commerce Group, and Digital Media and Entertainment Group, reports CNBC. Each business unit will be led by its own CEO and boar...
Alibaba to split into 6 business units, pursue IPOs
Alibaba to split into 6 business units, pursue IPOs
Source: IANS
29/03/2023 10:44:10 AM
Key Stock News: Wipro , Tata Group, Infosys, Alibaba Group, TCS - ARETE Securities Wipro Q3 revenues may rise up to 3% QoQ; flattish margins likely: Analysts IT major Wipro is expected to register revenue growth up to 3 per cent quarter-on-quarter (QoQ) to Rs 23,497 crore in the December quarter of this fiscal year (Q3FY23), in-line with the management's guidance set in the range of 0.5-2 per cent. The company is due to announce its results on Friday, January 13. Higher furloughs and two-month wage hike impact, however, is likely to keep margins flattish at 15.1 p...
Key Stock News: Wipro , Tata Group, Infosys, Alibaba Group, TCS - ARETE Securities
Key Stock News: Wipro , Tata Group, Infosys, Alibaba Group, TCS - ARETE Securities
Source: ARETE Securities Ltd
13/01/2023 9:37:23 AM
Alibaba sells Paytm stake worth $125 million via block deal BENGALURU  - China's Alibaba Group sold a 3.1% stake in Indian digital payments firm Paytm worth $125 million through a block deal on Thursday, a source with direct knowledge of the matter told Reuters. Alibaba, which held a 6.26% stake in Paytm as at end-September, sold the stake at 536.95 rupees apiece, the source said. Paytm's stock fell as much as 8.8% to 528 rupees in afternoon trading, and was last down 5.8% as of 2:37 p.m. IST. Morgan Stanley advised Alibaba on th...
Alibaba sells Paytm stake worth $125 million via block deal
Alibaba sells Paytm stake worth $125 million via block deal
Source: Reuters
12/01/2023 3:11:43 PM
Alibaba to sell shares worth $200 mn in Zomato: Report Chinese behemoth Alibaba is set to sell its shares worth $200 million in Zomato via a block deal on Wednesday, the media reported. According to CNBC Awaaz, citing sources, Ant Financial and Alipay would bring down their stake in the Deepinder Goyal-run food delivery unicorn to about 10 per cent from the current 13 per cent. "The block deal is said to happen at a discount of about 5-6 per cent," said the report. Zomato refused to comment when contacted by IANS. Zomato'...
Alibaba to sell shares worth $200 mn in Zomato: Report
Alibaba to sell shares worth $200 mn in Zomato: Report
Source: IANS
30/11/2022 9:36:03 AM
Factbox: Companies cut jobs, freeze hiring to prepare for economic slowdown (Reuters) - Technology companies, crypto exchanges and financial firms are cutting jobs and slowing hiring as global economic growth slows due to higher interest rates, red-hot inflation and an energy crisis in Europe. In a sign of a tough second half of the year, growth in the world's largest economy, the United States, shrank for the second straight quarter, while in the euro zone business growth slowed sharply in June due to rising cost of living. LAYOFFS: Company name Date La...
Factbox: Companies cut jobs, freeze hiring to prepare for economic slowdown
Factbox: Companies cut jobs, freeze hiring to prepare for economic slowdown
Source: Reuters
5/08/2022 7:09:14 PM
Alibaba shares slump on slow Chinese spending Alibaba shares slumped by more than 10 per cent in Hong Kong trade after the Chinese online retail giant warned of a slowdown in consumer spending, BBC reported. The company forecast that its annual revenue would grow at the slowest pace since its stock market debut in 2014. The weak figures underscore the firm's struggles with increasing competition and Beijing's regulatory crackdown, the report said. On Thursday, Alibaba's US-listed shares ended the New York trading ses...
Alibaba shares slump on slow Chinese spending
Alibaba shares slump on slow Chinese spending
Source: IANS
19/11/2021 4:08:40 PM
Alibaba to develop self-driving trucks with logistics unit Cainiao HANGZHOU, China/BEIJING  - Chinese e-commerce leader Alibaba Group Holding Ltd plans to develop self-driving trucks with logistics subsidiary Cainiao, Chief Technology Officer Cheng Li said on Thursday. Cheng also said Cainiao aims to introduce 1,000 autonomous delivery robots in China over the next year. The announcement comes as dozens of startups, automakers and large technology firms, such as internet search leader Baidu Inc, accelerate work on self-driving vehicle systems, whi...
Alibaba to develop self-driving trucks with logistics unit Cainiao
Alibaba to develop self-driving trucks with logistics unit Cainiao
Source: Reuters
10/06/2021 10:03:07 AM
Alibaba freezes executive pay amid China`s curbs on big tech: Sources BEIJING  - Chinese e-commerce giant Alibaba Group Holding has frozen pay for senior executives in 2021 and is instead giving junior staff bigger salary increases, sources said, in an effort to preserve its workforce amid a regulatory clampdown. Hundreds of top-tier executives at Alibaba are not entitled to salary hikes this year, unless they performed extraordinarily, four sources familiar with the matter said. The Hangzhou-based company, though, has offered considerable wage incre...
Alibaba freezes executive pay amid China`s curbs on big tech: Sources
Alibaba freezes executive pay amid China`s curbs on big tech: Sources
Source: Reuters
30/04/2021 5:00:39 PM
Alibaba says does not expect material impact from antitrust fine, shares rally SHANGHAI - China's Alibaba does not expect any material impact from changes to its exclusivity arrangements with merchants, CEO Daniel Zhang said on Monday, after regulators fined the e-commerce giant a record $2.75 billion for abusing its market dominance. Shares in Alibaba Group Holdings Ltd rose as much as 9% in Hong Kong trade as a key source of uncertainty for the company was removed, and on relief the fine and steps ordered were not more onerous. Alibaba has come under in...
Alibaba says does not expect material impact from antitrust fine, shares rally
Alibaba says does not expect material impact from antitrust fine, shares rally
Source: Reuters
12/04/2021 8:55:58 AM
Expert Views: China`s Alibaba hit with record $2.75 billion antitrust fine Chinese regulators said on Saturday they have fined Alibaba Group Holding Ltd a domestic record $2.75 billion for antitrust violations, amid an unprecedented regulatory crackdown on Jack Ma's company and other technology conglomerates. STORY: LIU XU, RESEARCHER AT THE NATIONAL STRATEGY INSTITUTE, TSINGHUA UNIVERSITY "The $2.75 billion fine bill is not as big as we think - it's almost a symbolic fine for Alibaba... The implications for the rest of China's internet pla...
Expert Views: China`s Alibaba hit with record $2.75 billion antitrust fine
Expert Views: China`s Alibaba hit with record $2.75 billion antitrust fine
Source: Reuters
11/04/2021 10:05:08 AM
China fines Alibaba record $2.75 billion for anti-monopoly violations SHANGHAI/HONG KONG- 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 fine to be imposed in the country. The penalty, equivalent to around 4% of Alibaba's 2019 revenues, comes amid an unprecedented regulatory crackdown on home-grown technology conglomerates in the past few months that have weighed on company shares. Alibaba's billio...
China fines Alibaba record $2.75 billion for anti-monopoly violations
China fines Alibaba record $2.75 billion for anti-monopoly violations
Source: Reuters
10/04/2021 10:00:33 AM
China regulators held talks with Alibaba, Tencent, nine others on `deepfake` technology. BEIJING - Chinese regulators recently summoned 11 domestic technology companies including Alibaba Group, Tencent and ByteDance for talks on use of 'deepfake' technologies on their content platforms, stepping up scrutiny of the sector. China’s cyberspace administrator said in a statement on Thursday that it and the public security ministry met with the companies to talk about potential problems with deepfake technologies. Kuaishou Technology and Xiaomi Corp also attended ...
China regulators held talks with Alibaba, Tencent, nine others on `deepfake` technology.
China regulators held talks with Alibaba, Tencent, nine others on `deepfake` technology.
Source: Accord Fintech
18/03/2021 10:26:25 AM
Jack Ma loses title as China's richest man after coming under Beijing's scrutiny BEIJING - Alibaba and Ant Group founder Jack Ma has lost the title of China's richest man, a list published on Tuesday showed, as his peers prospered while his empire was put under heavy scrutiny by Chinese regulators. Ma and his family had held the top spot for China's richest in the Hurun Global Rich List in 2020 and 2019 but now trail in fourth place behind bottled water maker Nongfu Spring's Zhong Shanshan, Tencent Holding's Pony Ma and e-commerce upstart Pinduoduo'...
Jack Ma loses title as China's richest man after coming under Beijing's scrutiny
Jack Ma loses title as China's richest man after coming under Beijing's scrutiny
Source: Reuters
2/03/2021 2:47:12 PM
Investors flock to $5 billion Alibaba bond deal, shrug off regulatory woes HONG KONG  - Alibaba Group Holding Ltd's $5 billion U.S.-dollar bond offering received demand for eight times the debt offered, underscoring global investors' faith in founder Jack Ma's e-commerce behemoth despite a regulatory crackdown on his empire. Pricing for the deal was set on Friday tighter than initially flagged by the company on Thursday, indicating robust demand to buy the rare debt float. The latest international bond offering is Alibaba's third, according t...
Investors flock to $5 billion Alibaba bond deal, shrug off regulatory woes
Investors flock to $5 billion Alibaba bond deal, shrug off regulatory woes
Source: Reuters
5/02/2021 11:04:43 AM
Alibaba beats revenue forecast, shares slide amid regulatory challenges China's Alibaba Group Holding Ltd beat estimates for third-quarter revenue on a pandemic-driven jump in e-commerce, but its shares dropped amid regulatory heat for founder Jack Ma's business empire. It also announced a bond sale worth as much as $5 billion though sources have said plans for the fundraising were in the works before the regulatory clampdown. Ma's current woes stem from an Oct. 24 speech in which he blasted China's regulatory system, leading to the suspensi...
Alibaba beats revenue forecast, shares slide amid regulatory challenges
Alibaba beats revenue forecast, shares slide amid regulatory challenges
Source: Reuters
3/02/2021 9:35:28 AM
Chinese state newspaper omits Jack Ma from list of entrepreneurial leaders SHANGHAI  - 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 favour with Beijing. China's best known businessman was not mentioned in an front-page article published by the Shanghai Securities News. Instead Huawei Technologies' Ren Zhengfei, Xiaomi Corp's Lei Jun and BYD's Wang Chuanfu were lauded for their contributions. It was published on Tu...
Chinese state newspaper omits Jack Ma from list of entrepreneurial leaders
Chinese state newspaper omits Jack Ma from list of entrepreneurial leaders
Source: Reuters
2/02/2021 2:37:23 PM
Analysis: Jack Ma`s reappearance fails to soothe all investor concerns NEW YORK/BOSTON - Jack Ma's 50-second video reappearance may have buoyed Alibaba Group's shares, yet it has done little to resolve the Chinese e-commerce giant's troubled relationship with regulators that is making some investors hesitate about owning its stock. The company's American Depositary Receipts (ADRs) rose more than 5% on Wednesday, following a 8.5% gain in its Hong Kong-listed shares, after founder Ma made his first public appearance since October on Wednesday. ...
Analysis: Jack Ma`s reappearance fails to soothe all investor concerns
Analysis: Jack Ma`s reappearance fails to soothe all investor concerns
Source: Reuters
21/01/2021 12:37:33 PM
Exclusive: Alibaba-backed logistics firm Best weighs sale in strategic review HONG KONG  - New York-listed Best Inc, a Chinese logistics firm backed by e-commerce giant Alibaba Group Holding Ltd, is considering a sale as part of a strategic review, six people with knowledge of the matter said. With the endorsement of Alibaba, its biggest shareholder, Best has tapped financial advisers to explore options as its shares have been underperforming and are worth a fifth of its IPO price in 2018, two of the people involved in the discussions said. Billionaire Jack ...
Exclusive: Alibaba-backed logistics firm Best weighs sale in strategic review
Exclusive: Alibaba-backed logistics firm Best weighs sale in strategic review
Source: Reuters
20/01/2021 2:08:24 PM