Page 2 - Latest Updates on Jack Ma
Jack Ma-backed Ant Group plans to pare stake in Vijay Shekhar's Paytm
The Chinese fintech giant has been discussing options to reduce its stake in One 97 Communications Ltd. after its share percentage increased passively due to share buybacks
 "Jack Ma-backed Ant Group plans to pare stake in Vijay Shekhar's Paytm")
Jack Ma to cede control of Ant Group following China's tech crackdown
The company will give 10 individuals, including the founder, management and staff, voting rights independently, effectively removing Ma's voting control of Ant, according to an announcement
 "Jack Ma to cede control of Ant Group following China's tech crackdown")
Jack Ma's Ant wins approval to raise $1.5 bn capital for its consumer unit
The deal resolves a key hurdle for Ant as it seeks to meet requirements from regulators following a crackdown on its business after its record initial public offering was torpedoed in 2020
 "Jack Ma's Ant wins approval to raise $1.5 bn capital for its consumer unit")
Chinese billionaire Jack Ma living in Tokyo after China's crackdown: Report
Alibaba founder Jack Ma, who ran into trouble with the Chinese government for violating anti-monopoly regulations, is now living in Tokyo for about six months, says a media report
 "Chinese billionaire Jack Ma living in Tokyo after China's crackdown: Report")
Jack Ma enjoys hot spring, ski resort in Japan as protests erupt in China
As China faces violent protests over its harsh zero-Covid policy, Alibaba founder Jack Ma has been spotted in Tokyo, living a quiet and peaceful life amid tech crackdown in his home country
 "Jack Ma enjoys hot spring, ski resort in Japan as protests erupt in China")
China set to fine Ant Group over $1 bn, signalling revamp nears end
A fine on Ant could help pave the way for the company to secure a long-awaited financial holding company license, seek growth again, and eventually revive its plans for a public market debut
 "China set to fine Ant Group over $1 bn, signalling revamp nears end")
Billionaire Jack Ma plans to cede control of China's Ant Group: Report
Ant, an affiliate of Alibaba, has been subjected to a sweeping restructuring by China, whose initial public offering of $37 billion, was derailed by the country's regulators in late 2020
 "Billionaire Jack Ma plans to cede control of China's Ant Group: Report")
Jack Ma's Ant Group set to apply for China finance licence this month
The People's Bank of China intends to accept Ant's application to become a financial holding company once it's submitted
 "Jack Ma's Ant Group set to apply for China finance licence this month")
Alibaba's stock slips as big hopes on Ant IPO revival quickly fade
Shares of the e-commerce giant shot up as much as 7% earlier after a Bloomberg News report that China's financial regulators have established a team to assess the fintech giant's share sale plans.
 "Alibaba's stock slips as big hopes on Ant IPO revival quickly fade")
China: Govt buying stakes in tech firms to increase its influence
The State-owned firms and regulators like China's Cyberspace Administration are obtaining the so-called 'golden shares' in private companies, especially internet/technology firms holding large amounts
 "China: Govt buying stakes in tech firms to increase its influence")
Alibaba Group raises buyback to $25 billion to boost slumping stock
Alibaba Group increased a share buyback to $25 billion from $15 billion to prop up a stock price that has fallen by more than half since Communist Party tightened control over tech industries
 "Alibaba Group raises buyback to $25 billion to boost slumping stock")
China tells banks, state firms to report exposure to Jack Ma's Ant
It was unclear what triggered the new scrutiny or whether it will lead to any actions or conclusions by regulators
 "China tells banks, state firms to report exposure to Jack Ma's Ant")
Alibaba Group overhauls e-commerce businesses, names Toby Xu new CFO
The changes come as Alibaba faces headwinds on multiple fronts, including increased competition, a slowing economy and a regulatory crackdown
Alibaba shares slump by more than 10% on slow Chinese spending
Alibaba shares slumped by more than 10% in Hong Kong trade after the Chinese online retail giant warned of a slowdown in consumer spending, BBC reported
 "Alibaba shares slump by more than 10% on slow Chinese spending")
Alibaba slashes sales outlook over increased competition, slow demand
Alibaba now expects revenue for the year ending in March to rise between 20% and 23%, the slowest pace since its 2014 stock market debut
 "Alibaba slashes sales outlook over increased competition, slow demand")
Ant group's profit grows by 39% in June quarter as investments gain
The company contributed $1.4 bn to Alibaba Group Holding's earnings
Jack Ma, Trump and Xi: How Chinese billionaire flew close to the sun
Ma's charitable foundation, which handles his media queries, did not respond to a request for comment.
Alibaba Group Holding has lost $344 billion in world's biggest wipeout
Despite a 30 per cent recovery from Oct. 5, the stock is still 43 per cent lower than its October 2020 peak.
 "Alibaba Group Holding has lost $344 billion in world's biggest wipeout")
Jack Ma leaves China for first time after Alibaba crackdown
Ma is abroad for a series of business meetings, including a tour of the agricultural industry and environmental technology in Spain
 "Jack Ma leaves China for first time after Alibaba crackdown")
Jack Ma in Europe, makes first trip abroad after China's crackdown on firm
Before flying to Europe, Ma was in Hong Kong to spend low-key private time with his family.
 "Jack Ma in Europe, makes first trip abroad after China's crackdown on firm")
