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The Latest Breaking News from Alibaba

Jack Ma, once Asia’s richest person, has seen more than half of his $61 billion fortune wiped out in the past 3 years

Beijing cracked down on the companies Ma founded after he publicly criticized Chinese regulators.

Fortune

Shopping the next frontier for TikTok

JAKARTA: Inside a shophouse in Northeast Jakarta, dozens of salespeople take turns peddling cosmetics, contact lenses and hair accessories. A woman helps a potential customer choose the right shade of lipstick for her skin tone, while a man yells out the latest markdown on vitamin tablets.

Bangkok Post

Chinese tech firms handed massive fines

BEIJING: Chinese regulators said on Friday they had fined the fintech giant Ant Group almost $1 billion for “illegal acts” and handed an affiliate of rival Tencent a $415-million penalty, adding that a long-running crackdown on technology companies was drawing to a close.

Bangkok Post

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Key Trumper works at China lobbying firm

"Susie could put Trump away for years in just one minute of testimony to Jack Smith," GOP operative says

Salon

Weekly Must-Read: China Joins Effort to Avert Sovereign Debt Crisis

Nation fills new role as top creditor to poor countries rattled by the worst debt crisis since the 1980s

Caixin Global

Billionaires and bureaucrats mobilize China for AI race with US

China’s tech sector has a new obsession: competing with U.S. titans like Google and Microsoft Corp. in the breakneck global artificial intelligence race.

Tribune News Service

Chinese billionaires go all-in on AI

China’s tech sector has a new obsession: competing with US titans like Google and Microsoft in the breakneck global artificial intelligence "arms race".

Bangkok Post

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Alibaba entrepreneur masterclass seeking applicants

The first global edition of Alibaba Netpreneur Masterclass is accepting applications from entrepreneurs worldwide, including Thailand, who are interested in gaining insights into the digital economy, until July 14.

Bangkok Post

Shanghai Composite Index Fell 1.31% on Wednesday

Shenzhen Component Index closed down 2.18%

Caixin Global

Stock Market Today: Stocks Close Lower Ahead of Powell Testimony

Energy stocks were some of Tuesday's biggest decliners, while Alibaba slid on a C-suite shake-up.

Kiplinger

Chinese e-commerce giant Alibaba announces new CEO and chairman in major management reshuffle

China’s Alibaba Group has announced a major management reshuffle as the e-commerce giant restructures into six different business divisions to adapt to fast-changing technologies

The Independent UK

Chinese billionaire Jack Ma teaches first class at University of Tokyo as top exec at his tech empire insists he’s ‘alive’ and ‘happy’

The Alibaba cofounder has largely disappeared from public view since criticizing Chinese regulators in 2020.

Fortune

Consumption soft even amid deep discounts during major China shopping festival, analysts say

Chinese consumers have been snapping up billions worth of items in China’s first major online shopping festival after emerging from the pandemic as merchants slash prices, but analysts say that consumer confidence still remains weak as China re-emerges from the pandemic

The Independent UK

China's ByteDance Has Gobbled Up $1 Billion of Nvidia GPUs for AI This Year

China's ByteDance has already ordered around 100,000 Nvidia datacenter accelerators in 2023 — more than the entire Chinese market ordered last year.

Tom’s Hardware

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Barchart

Chinese E-Commerce Companies Undercut by Weak Chinese Economy and Increased Competition

The faltering recovery in China has spurred investors to raise their bearish wagers on Chinese e-commerce stocks. For example, short interest in PDD Holdings (PDD ) has risen to about 8% of total shares outstanding, according to IHS Markit data. That’s higher than e-commerce peers JD.com (JD ) and Alibaba...

StockNews.com

Is Alibaba (BABA) a Good Buy?

Over the last two years, the e-commerce giant Alibaba (BABA) was hit by heavy regulatory scrutiny, brutal competition, and China’s slowing economy. But the stock got a lift this year after the nation’s Covid reopening and easing of regulatory woes. Furthermore, the company announced a restructuring plan designed to enhance…

Caixin Global

Weekly Must-Read: China’s Effort to Move Mountain of ‘Hidden Debt’ Faces Uphill Climb

Local governments’ invisible debt could be as high as almost $10 trillion, double Japan’s GDP, posing a risk of destabilizing the banking and financial sector

The Guardian - UK

‘We in the west were blinded’: China crackdown on business has Maoist roots

‘Anti-spying’ raids on consulting firms and attacks on tech companies are being driven by party ideology, says academic Chris Marquis

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TechRadar

Alibaba is pulling out of the cloud business

Chinese ecommerce giant Alibaba set to split into six units and selling off some of its businesses.

Evening Standard

FTSE 100 Live: Flat week as FTSE closes at 7757; Tesco chair to step down; US shares down on default fears

The FTSE 100 index found positive territory today despite Hong Kong shares falling after Alibaba sales came in below expectations.

The Independent UK

Alibaba approves cloud computing unit spin-off, prepares for grocery and logistics arms to go public

Chinese e-commerce company Alibaba Group Holding on Thursday said that it plans to spin-off of its cloud computing unit and that its logistics and grocery units would begin exploring initial public offerings, as the e-commerce firm kickstarts a restructuring process of its businesses aimed at spurring growth

Tom’s Hardware

Chinese Firms Foil US AI Sanctions With Older GPUs, Software Tweaks

Chinese AI developers simplify software and use all compute chips they can get to train large-scale AI models.

Bangkok Post

Jack Ma returns to public life with professorships

Jack Ma, the face of Chinese entrepreneurship and the founder of Alibaba Group Holding, has assumed professorships in at least four schools outside mainland China, as he keeps an arm's length from the business empire he created.

The Independent UK

Alibaba's Jack Ma turns up in Japan as college professor

Alibaba Group founder Jack Ma will be a visiting professor at Tokyo College, a research institute run by the prestigious University of Tokyo

The Times of India

Jack Ma joins University of Tokyo as visiting professor

BEIJING: Alibaba Group Holding Ltd co-founder Jack Ma is joining the University of Tokyo’s Tokyo College as a visiting professor, according to a profile page on the university’s website.

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