China`s e-commerce giant Alibaba has launched an American shopping website, a report said today, as the company continues a deal binge ahead of a widely anticipated US listing.
China`s biggest online shopping company, Alibaba has reportedly set record in online sales by processing goods worth more than 5.75 billion dollars in one-day shopping free fest.
Yahoo has reportedly shut down its Chinese portal for news and community in order to adjust its operations strategy and redirects its users to a site run by Alibaba.
Yahoo`s China arm will shut down its email service later this year, state media reported Friday, in a move illustrating the brand`s diminishing profile in the country.
Alibaba Group and Japan`s Softbank will go directly to Yahoo`s chief executive, bypassing negotiators from the US Internet company, after talks over the sale of Yahoo`s Asian holdings broke down.
Talks between Yahoo Inc and China`s Alibaba over the US Internet giant`s Asian assets have hit an impasse.
A Yahoo! billboard is seen in New York`s Time`s Square January 25, 2010.
Despite all the rumoured interest in Yahoo Inc, progress on a deal has hit a brick wall mainly due to the company`s lack of strategy and restrictive confidentiality agreement, people familiar with the situation said.
Foreign firms, including Google, must respect Chinese laws and customs, China`s foreign ministry spokesman said on Tuesday.
China`s largest e-commerce firm Alibaba Group, in which Yahoo Inc owns a 40 percent stake, has called the search giant`s comments on Google "reckless".
Day in Pics: 30th September
Showbiz World - September 30, 2014
George Clooney - Amal Alamuddin grand Venice wedding