China slapped a record 18 billion yuan (£2billion) fine on Alibaba Group Holding Ltd on Saturday, after an anti-monopoly probe found the e-commerce giant had abused its dominant market position for several years. The fine, about 4 per cent of Alibaba’s 2019 domestic revenues, comes amid a crackdown on technology conglomerates and indicates China’s antitrust … Read more
China slapped a record 18 billion yuan (£2billion) fine on Alibaba Group Holding Ltd on Saturday, after an anti-monopoly probe found the e-commerce giant had abused its dominant market position for several years. The fine, about 4 per cent of Alibaba’s 2019 domestic revenues, comes amid a crackdown on technology conglomerates and indicates China’s antitrust … Read more
Short-selling guru Carson Block has warned that Chinese shares are ‘uninvestible’ following the disappearance of billionaire Alibaba founder Jack Ma. Block, one of the world’s best-known activist investors, said Ma’s disappearance is ‘just one of the reasons’ he is betting against Chinese firms. He said his main concern is dodgy accounting practices, but he also … Read more