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(Reuters) - China's Alibaba Group Holding Ltd beat estimates for third-quarter revenue on a pandemic-driven jump in e-commerce, but its shares dropped amid regulatory heat for founder Jack Ma's business empire.
SHANGHAI (Reuters): Alibaba Group Holding Ltd beat Wall Street estimates for third-quarter revenue on Tuesday, as its e-commerce business benefited from a switch to online shopping triggered by the COVID-19 pandemic.
HONG KONG/SHANGHAI:Chinese e-commerce giant Alibaba Group Holding Ltd plans to raise up to $5 billion through the sale of a U.S. dollar-denominated bond, according to a marketing term sheet seen by Reuters on Wednesday.
SHANGHAI (Reuters) - Tencent Holdings Ltd on Wednesday named 37 companies it had blacklisted from future contracts and said it has fired more than 100 staff over embezzlement and bribery incidents.
ByteDance vs Tencent: Douyin bans financial, health care influencers from redirecting followers to Tencent’s WeChat and QQ
Finance videos, including those on economics and wealth management, are one of the most popular types of content on Douyin. ByteDance has previously complained about WeChat’s policy of banning links, including those from Douyin and its Feishu cloud office suite.
ANT Group Co. and Chinese regulators have agreed on a restructuring plan that will turn Jack Ma’s fintech giant into a financial holding company, making it subject to capital requirements similar to those for banks.
HONG KONG (Bloomberg): Ant Group Co. and Chinese regulators have agreed on a restructuring plan that will turn Jack Ma’s fintech giant into a financial holding company, making it subject to capital requirements similar to those for banks.
‘All we have achieved is aimed at covering urban centre areas one day’: CEO. Company has expanded its road tests to Guangzhou’s commercial and business districts.
In the past, few plaintiffs have successfully won cases relating to abuse of market dominance, says an analyst. The legal environment for monopoly cases could be set for change after Beijing named antitrust as one of its top agenda issues for 2021.