Yahoo Inc shelved plans to spin off its stake in Chinese e-commerce giant Alibaba Group Holding Ltd on Wednesday, under pressure from activist investors worried about billions of dollars in taxes, and said instead it is looking at creating a separate company to hold the rest of its assets.
Yahoo Inc is weighing a sale of its core Internet business and will not sell its stake in Chinese e-commerce firm Alibaba Group Holding Ltd, CNBC reported, with an announcement coming as soon Wednesday.
Chinese e-commerce giant Alibaba will invest $1.0 billion in its cloud computing arm to expand its international presence, the company said Wednesday, as it looks outside its core business and beyond traditional markets.
China`s e-commerce giant, Alibaba Group, has been fined 800,000 yuan ($129,000) by the price bureau in eastern Zhejiang province for violations by third-party sellers during promotions on its e-commerce platforms.
Chinese e-commerce titan Alibaba Group Holding Ltd has invested 2.4 billion yuan ($382.67 million) in TV programme producer Beijing Enlight Media Co Ltd , Beijing Enlight said in a regulatory filing on Wednesday.
The head of China`s commerce regulator met with Alibaba Group Holding Ltd chairman Jack Ma on Friday to discuss combating fake products, the official Xinhua news agency reported, with the two adopting a conciliatory tone after a row over illegal business on the Internet company`s platforms.
Looking to provide a platform to millions of small businesses globally, Alibaba's founder Jack Ma wants his e-commerce company to surpass brick-and-mortar retail giant Walmart in sales in next 10 years.
Jack Ma, executive chairman of Chinese e-commerce giant Alibaba Group Holding, isn`t worried about slowing Chinese economic growth, he told a meeting of business and political leaders in Davos, Switzerland.
Alibaba Group Holding Ltd and its unit Alipay are in advanced talks to buy a stake for about $550 million in India`s One97 Communications, which owns an online payment platform, sources directly involved in the transaction said.
Chinese officials called on Wednesday for controls on the Internet to preserve stability, saying its model for cyberspace regulation can be the framework for spawning commercial successes like Alibaba Group Holding Ltd.