jack-ma | ABS-CBN News

Jack Ma: The tycoon grounded by China's regulators

Matthew Walsh, Agence France-Presse
Posted at Jan 07 05:38 PM

Jack Ma, the unconventional billionaire founder of tech giant Alibaba and the totem of China's entrepreneurial brilliance, has stepped out of the limelight since a Communist Party crackdown that chopped back his empire. Read more »

World's top 10 billionaires richer than some countries

Deutsche Welle
Updated as of Aug 26 11:16 AM

Billionaires: it’s an elite class of individuals with more money than some countries. Read more »

Alibaba shares slump 5 percent on Beijing's scrutiny of Ant Group

Agence France-Presse
Posted at Feb 22 02:44 PM

Shares in Alibaba slumped more than 5 percent on Tuesday following a report that Beijing regulators had ordered a fresh investigation into state firms' links with the Chinese e-commerce giant's fintech arm Ant Group. Read more »

China tech worker's death reignites industry overtime debate

ABS-CBN News
Posted at Feb 09 07:09 PM

The incident follows a spate of sudden deaths of young tech employees in recent years, which have sparked debate over the industry's notorious "996" culture. Read more »

China's Tencent told to get state approval for new apps

Agence France-Presse
Posted at Nov 25 02:47 PM

Gaming and messaging giant Tencent has been told all its new apps and updates must be approved by the government, state media reported, as Beijing continues its domestic tech sector crackdown. Read more »

China's 'Single's Day' shopping fest subdued by tech crackdown

Dan Martin, Agence France-Presse
Posted at Nov 11 08:34 AM

China on Thursday held a subdued version of its annual "Single's Day" shopping spree, shorn of the usual boasting on sales volume as the country's chastened e-commerce sector reels under a government crackdown on platforms like Alibaba. Read more »

Jack Ma, Trump and Xi: How Chinese billionaire flew close to the sun

Julie Zhu and Kane Wu, Reuters
Posted at Nov 05 08:29 AM

Alibaba's government relations team was subsequently told by Chinese officials that Beijing was unhappy about Jack Ma meeting Donald Trump without its prior approval, two of the people close to the company said. Read more »

Alibaba tones down Singles Day

Josh Horwitz and Brenda Goh, Reuters
Posted at Nov 02 10:26 AM

Alibaba Group's annual 'Singles Day' shopping spree is set for its most sober tone ever this year, as the retail giant preaches sustainability rather than hyping the usual sales boom amid calls by Beijing to promote "common prosperity". Read more »

Water tycoon Zhong is China's wealthiest person

Agence France-Presse
Posted at Oct 27 03:24 PM

Bottled-water tycoon Zhong Shanshan has become China's wealthiest person, according to an annual ranking released Wednesday. Read more »

Alibaba founder Jack Ma reappears in Hong Kong - sources

Kane Wu and Julie Zhu, Reuters
Updated as of Oct 13 08:49 AM

Alibaba Group founder Jack Ma, largely out of public view since a regulatory clampdown started on his business empire late last year, is currently in Hong Kong and has met business associates in recent days, two sources told Reuters. Read more »

China steps up tech scrutiny

Josh Horwitz, Reuters
Posted at Aug 17 06:22 PM

China moved to tighten control of its tech sector, publishing rules aimed at tackling unfair competition and companies' handling of critical data. Read more »

China tech giants face turmoil

Agence France-Presse
Posted at Aug 04 06:35 PM

Alibaba said its net income in the April-June quarter came in at 45.1 billion yuan ($7 billion), down five percent on-year. Read more »

Forbes China names Jack Ma as country’s most generous entrepreneur in 2020

South China Morning Post
Posted at Jul 21 08:10 PM

Jack Ma, founder of e-commerce giant Alibaba Group Holding, was the most generous Chinese entrepreneur last year, according to the latest Forbes China list published on Tuesday. Read more »

What is driving China's clampdown on Didi and data security?

Josh Horwitz and Yilei Sun, Reuters
Posted at Jul 07 08:44 PM

Some investors and experts suspect that by targeting a high-profile tech company that listed in the United States, Beijing is signalling it wants its data-rich tech firms to list domestically, not overseas, for security reasons.   Read more »

Jack Ma to step down as president of his business school: FT

Agence France-Presse
Posted at May 24 04:01 PM

Chinese billionaire Jack Ma, founder of e-commerce 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. Read more »

China's Ant explores ways for Jack Ma to exit as Beijing piles pressure: sources

Reuters
Posted at Apr 19 08:46 AM

Ant Group is exploring options for founder Jack Ma to divest his stake in the financial technology giant and give up control, as meetings with Chinese regulators signaled to the company that the move could help draw a line under Beijing's scrutiny of its business, according to a source familiar with regulators' thinking and two people with close ties to the company. Read more »

Rattled Chinese tech giants pledge to end unfair competition

Agence France-Presse
Posted at Apr 15 05:53 PM

More than 20 Chinese tech giants have made a public pact to abide by anti-monopoly guidelines, after regulators told them to note "the warning" of a record fine against e-commerce giant Alibaba. Read more »

China extends crackdown on Jack Ma's empire with enforced revamp of Ant Group

Tony Munroe, Reuters
Posted at Apr 13 09:26 AM

China has imposed a sweeping restructuring on Jack Ma's Ant Group, the fintech conglomerate whose record $37 billion IPO was derailed by regulators in November, underscoring Beijing's determination to rein in its internet giants.   Read more »

Alibaba shares soar as it plays down hit from record $2.78-billion fine

Agence France-Presse
Posted at Apr 12 04:44 PM

Shares in tech giant Alibaba surged nine percent Monday as the e-commerce titan reassured investors that a record $2.78 billion antitrust fine imposed by China would have little impact on its operations.   Read more »

China fines Alibaba $2.78 billion for market abuses: state media

Agence France-Presse
Updated as of Apr 10 01:01 PM

Chinese regulators have hit e-commerce giant Alibaba with a massive 18.2 billion yuan ($2.78 billion) fine over practices deemed to be an abuse of the company's dominant market position, state-run media reported on Saturday. Read more »