Page 2 - Alibaba Group

Daniel Zhang to step down as Alibaba CEO, Eddie Wu Yongming to succeed him

Daniel Zhang to focus on Alibaba Cloud Intelligence Group as chairman and CEO; change will take effect September 10

Alibaba plans cloud computing unit spin-off; logistics arms to go public

Alibaba plans to spin-off of its cloud computing business and said on Thursday that its logistics and grocery units will explore initial public offerings as the Chinese e-commerce company kickstarts a restructuring of its operations in hopes of spurring growth. The company in March announced plans to reshape itself into six business divisions with plans to allow all but its core e-commerce business to raise external capital and go public. In an earnings call Thursday, Alibaba CEO Daniel Zhang said that the Alibaba plans to fully spin off its cloud computing unit and complete a public listing in the next 12 months, allowing it to optimise operations, Zhang said. Alibaba's board of directors approved the full spin-off of the cloud computing unit via a stock dividend distribution to shareholders, the company said. Zhang also said that Freshippo, its groceries arm, as well as logistics arm Cainiao, are ready to go public. Alibaba's board has approved plans to begin Freshippo's IPO pro

Alibaba Group misses revenue estimates, approves cloud unit spinoff

Alibaba on Thursday approved a full spinoff of the Cloud Intelligence Group via a stock dividend distribution to shareholders

Alibaba Group's global online commerce arm weighs US IPO, says report

The e-commerce giant is in the early stages of consideration and the IPO's size is yet to be determined, the report added

Alibaba's faded rally signals grim outlook as restoring it will be a battle

Alibaba's American Depositary Receipts are now 2.3% below where they were before the e-commerce firm announced its overhaul plan in late March, wiping out as much as 20% in gains

Softbank moves to slash Alibaba stake fueling a $13 billion slump

The contracts give SoftBank the option to buy the shares back, but the group has settled previous deals by handing over the stock

TMS Ep404: Opec+ output cut, Alibaba, gas stocks, mixed reality headset

How will OPEC+ oil output cut affect you? What is happening at Alibaba? How will the unified pipeline tariff impact gas stocks? What is Apple's mixed reality headset? All answers here

China's Alibaba Group sells its entire remaining 3.4% stake in Paytm

At the end of December, Alibaba had 6.26 per cent stake in the firm and it had sold around 3 per cent of it in January

AI integration may soon fundamentally alter how we search on the internet

AI has found its way into a number of industries, from transportation to health. Now it is being integrated with search engines

SoftBank Group reports massive $5.9 bn net loss amid global tech meltdown

There is no respite for SoftBank Group in the ongoing global tech meltdown as the Japanese investment giant on Tuesday reported a massive around $5.9 billion net loss

Prez Xi warns China officials to avoid 'collusion' with big business

He also warned against "any infiltration of capital into politics that undermines the political ecosystem or the environment for economic development"

353 million shares of Zomato change hands on NSE; stock trades firm

According to media reports, Alibaba Group Holding Ltd plans to sell a stake of about 3 per cent in Indian food delivery firm Zomato worth $200 million through a block deal

Chinese billionaire Jack Ma living in Tokyo after China's crackdown: Report

Chinese billionaire and e-commerce giant Alibaba founder Jack Ma who ran into trouble with the Chinese government over violating anti-monopoly regulations and kept a low profile since 2020 is now living in Tokyo for about six months, according to a media report on Tuesday. Ma's months-long stay in Japan with his family has included stints in hot springs and ski resorts in the countryside outside Tokyo and regular trips to the US and Israel, the Financial Times reported, quoting people with direct knowledge of his whereabouts. Ma, 58, has largely disappeared from public view since he criticised the Chinese regulators in 2020, accusing the state-run banks of having a pawnshop mentality and calling for bold new players that can extend credit to the collateral poor. Since then, both the companies he founded -- Ant and e-commerce group Alibaba -- have faced a series of regulatory obstacles. Chinese regulators called off Ant's blockbuster USD 37 billion initial public offering and fined

Covid surge in Beijing triggers panic buying, lockdown-like restrictions

The case increase, which has escalated from under 100 infections a day a fortnight ago, is leading to stepped-up controls in Beijing, a city of 22 million

Softbank to divest 29 mn shares in Paytm via block deals on Thursday

Floor price set at Rs 555, 8% discount to last close

Paytm faces another reckoning with lock-in period expiring this week

The biggest shareholders in One97 Communications Ltd., Paytm's parent company, are Alibaba Group Holding Ltd. and its fintech affiliate Ant Group Co., as well as Japan's SoftBank Group Corp

US regulators to vet Alibaba, JD.com, other Chinese firms' audits: Report

The respective accounting firms of Alibaba, JD.com and Yum China - PwC, Deloitte and KPMG - have also been notified of the inspection

SoftBank raises $22 billion by selling Alibaba derivatives: Report

SoftBank Group shares rose 2.6% in Tokyo trading, while the benchmark Topix was flat

Alibaba revenue beats in June qtr despite flat growth due to Covid lockdown

Alibaba Group Holding Ltd, on Thursday beat market expectations for revenue in the quarter ending late June, even though growth was flat for the first time ever due to the impact of COVID-19 lockdown.

Alibaba striving to maintain US listing amid SEC's delisting fears

Chinese e-commerce firm Alibaba said on Monday that it wants to keep its shares listed in both New York and Hong Kong, days after US regulators included it in a list of companies that may be delisted