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Tuesday, May 11, 2021
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TikTok Hires Thousands to Challenge E-Commerce King Alibaba
Zhang Yiming built ByteDance Ltd. into the world’s most valuable private company via a string of blockbuster apps like TikTok that challenged Facebook and other incumbents on their own turf. His latest target: Alibaba.
The age of cyber warfare is a threat to us all
In his recent State of the Nation address, Vladimir Putin said that if challenged by another state, Russia’s response would be swift, harsh and ‘asymmetrical’. An unusual word, but anyone who has been paying attention to the developments...
The world is 'on the verge of the abyss’, says UN
The UN Secretary-General António Guterres gives a stark warning as the climate crisis looks set to worsen.
China fines internet giant Alibaba for 'abusing its dominant position'
The Alibaba Group, the world's biggest e-commerce company, was fined €2.3 billion by Chinese regulators on Saturday for anti-competitive tactics, as the ruling Communist Party tightens control over fast-growing tech industries.
The woman building HSBC's 3,000 roaming banker army
HSBC has started hiring hundreds of bankers under a new venture to seek out wealthy clients across China.
Is Alibaba's fate a warning to China’s tech giants?
It's been a tough week for Chinese tech firms.
China fines Alibaba record $2.75 billion for anti-monopoly violations
China slapped a record 18 billion yuan ($2.75 billion) 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.
Exclusive: China's antitrust regulator bulking up as crackdown on behemoths widens
China’s competition watchdog is adding staff and other resources as it ramps up efforts to crack down on anti-competitive behaviour, especially among the country’s powerful companies, people with knowledge of the matter told Reuters.
Huawei To Shutter Cloud Computing, AI Business Groups Amid Restructuring As US-China Trade War Bites
The news reveals troubles faced by the Shenzhen-based firm, namely amid the ongoing US trade war on China and ongoing COVID-19 pandemic, according to media reports.
China mulls new bourse to lure overseas-listed firms
Beijing is exploring options to establish a new stock exchange that targets firms listed overseas and could bolster the global status of its onshore share markets, Reuters reported, citing sources.
Chinese apps join celebs in backlash against Western fashion brands over Xinjiang
China’s top ride-hailing app dropped Swedish fashion retailer H&M from its listings as Chinese celebrities stopped endorsing foreign labels in a growing uproar over Western accusations of “forced labour” in Xinjiang.
H&M and Nike are facing a boycott in China
H&M, Nike and other big Western apparel brands are facing a boycott in China because of the stand they've taken against the alleged use of forced labor to produce cotton in the country's western region of Xinjiang.
Why did Alibaba's Jack Ma disappear for three months?
Jack Ma was about to become the richest man in China.
Musk says Tesla would be shut down if its cars spied in China, elsewhere
Tesla Inc chief executive Elon Musk said on Saturday his company would be shut down if its cars were used to spy, his first comments on news that China’s military has banned Teslas from its facilities.
China's Xi Jinping warns of tech crackdown, Alibaba pulled from app stores
CCP officials on Monday warned of tech giants 'growing in an inappropriate manner'
Beijing asks Alibaba to shed its media assets
Under Jack Ma’s leadership, the company built a formidable portfolio of media holdings
Hong Kong rises to fourth place in global financial centre rankings
Hong Kong rose two places in this year’s Global Financial Centres Index, but is yet to fully recover from the impact of the social unrest in 2019, study shows.
India is trying to build its own internet
While Twitter finds itself in a prolonged standoff with the Indian government over the company's refusal to take down certain accounts, a senior executive of a very similar Indian social network says the sudden attention on his app has b...
From Crypto to Offshore Accounts: Tactics Used to Get Cash Out of China
There’s barely a global asset that isn’t influenced by Chinese money, from the latest hot Hong Kong public offering to luxury apartments in Vancouver.
China's Ant Group CEO Departs Amid Regulatory-Driven Revamp
Hu, who was named the chief executive of the Alibaba Group Holding in 2019, will be replaced by company veteran and Executive Chairman Eric Jing, the financial technology giant said.
China Eyes Record Monopoly Fine Near $1 Billion For Alibaba
China is considering imposing a record fine of nearly $1 billion on e-commerce giant Alibaba for allegedly flouting monopoly rules, according to a report, as authorities continue to put the screws on the firm as part of a crackdown on th...
The Tactics People Are Using to Get Their Money Out of China
Finding ways around the rules is something of a national pastime.
Leak reveals UK Foreign Office discussing aid cuts of more than 50%
Internal reports show projected cuts including 59% in South Sudan, 60% in Somalia and 67% in Syria
Ant Group Exec Tells Workers Firm to Go Public as State Regulators Slam 'Insufficient' Data Sharing
An internal post from a top executive responded to concerns from an employee over the company's future and talent retention strategy, and comes after major challenges following the suspension of a historic public listing in November last...
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