Alibaba news and archive

Europe unites against ultra-fast fashion: eight countries call on Brussels to “strengthen” mobilisation

Led by France, eight European countries are calling on the European Commission and member states to “strengthen” their “collective mobilisation” against the “systemic risks” they believe are posed by e-commerce platforms such as Shein and its competitors. The letter was sent to Brussels on Monday. “We call on the Commission to mobilise strongly...

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Alibaba denies report accusing it of supporting Chinese army against US

Beijing - Chinese e-commerce giant Alibaba on Saturday denied to AFP an article in the Financial Times (FT) that accused it of assisting in Beijing's military operations against the US. Alibaba “provides technical support for the ‘operations’ of the Chinese army against US targets,” stated the report from the British newspaper published on...

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Alibaba to transform B2B sourcing with agentic AI

E-commerce giant Alibaba has announced the integration of agentic AI capabilities into the user journey of its business-to-business (B2B) marketplace. Launched under the 'AI mode' feature, this technological innovation aims to transform the processes by which professionals discover, evaluate and interact with suppliers. Even more impressive than...

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Chinese officials gather Alibaba execs over data heist

Alibaba shares sank on Friday after a report said the tech giant's executives had been called in for meetings with Chinese officials over the theft of a vast police database. A hacker last month put on sale what they claimed was the personal information of hundreds of millions of Chinese citizens -- which, if true, would make it one of the...

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Asia markets mostly up but Alibaba plunge hammers Hong Kong

Hong Kong tumbled Friday on an otherwise positive day for Asian markets, with Chinese ecommerce titan Alibaba tanking more than 10 percent after warning of a weaker outlook. Alibaba said Thursday that net profit tumbled 81 percent in the second quarter and revenue grew less than forecast as it was hit by the impact of slowing economic growth and...

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Alibaba, JD enjoy record Singles Day despite tech crackdown

Chinese ecommerce titan Alibaba enjoyed record sales during its Singles Day shopping extravaganza, giving a much-needed boost to the firm after a torrid year in which it became the symbol of a government crackdown that hammered the country's tech sector. The firm said 540.3 billion yuan (84.5 billion dollars) was spent as China's army of...

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Alibaba shares soar after Jack Ma reported on European trip

Alibaba shares surged more than six percent on Wednesday after billionaire founder Jack Ma was reported to be in Europe, fuelling investor hopes that the worst of China's regulatory crackdown for the internet giant might be over. Ma has kept a low profile ever since mainland officials spiked what would have been a world record 37 billion dollars...

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Largest payment app Alipay to be China's target in tech crackdown

Chinese regulators have ordered sweeping changes to the country's biggest payment app Alipay, as the ruling Communist Party attempts to rein in "the unruly growth" of the tech giants. Alipay -- with more than one billion users in China and other Asian nations including India -- was told to spinoff its profitable micro loan business, the...

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Ganni expands into China with Tmall

Danish fashion brand Ganni is launching direct-to-consumer e-commerce in China with Tmall, part of the Alibaba Group on June 28. The collaboration will give Ganni access to more than 800 million active and digital-first consumers on the platform and will allow Chinese consumers to experience the “full Ganni universe,” said the brand in a...

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Alibaba announces 1.17 billion quarterly loss following record fine

Chinese e-commerce giant Alibaba Group said Thursday it fell to a 1.17 billion dollars operational loss in its latest financial quarter due to a record fine levied by the government for anti-competitive practises. The Hangzhou-based company was fined 18.2 billion yuan (2.78 billion dollars) last month, as part of a push by regulators to rein in...

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Rattled Chinese tech giants pledge to end unfair competition

Beijing - More than 20 Chinese tech giants have made a public pact to abide by anti-monopoly guidelines, after regulators told them to note “the warning” of a record fine against e-commerce giant Alibaba. Beijing is taking China’s tech firms to task to curtail the reach of private companies into the daily finances of the Chinese public — and,...

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Following record Alibaba fine, China is not letting up on big tech

A record fine, public penitence from a tech giant and a 'who's who' of digital firms warned to "rectify" their ambitions within a month -- state regulators are showing no one is bigger than Beijing in Xi Jinping's China. E-commerce titan Alibaba absorbed the massive 2.78 billion dollar penalty from China's market watchdog last Saturday, after a...