By Elias SchisgallAlibaba Group and a U.S.-based payment processor agreed to pay $600 million to resolve allegations from the Justice Department that they allowed merchants to sell and import illegal pharmaceuticals and other restricted items into the U.S.The operator of Chinese e-commerce site Ali…
By Jasper Ward and Nate RaymondChinese technology and e-commerce giant Alibaba NYSE:BABA and its U.S.-based payment processor have agreed to pay $600 million to resolve allegations that they failed to prevent illegal drug sales, the U.S. Justice Department said on Wednesday.The companies entered i…
ByteDance is accelerating its Brazil expansion with a major data center project in Ceara state, where hundreds of workers are building what could become TikTok owner's largest data center complex outside China. The project carries an estimated price tag of 200 billion reais ($39 billion), with plan…
By Elias SchisgallAlibaba Group and a U.S.-based payment processor agreed to pay $600 million to resolve allegations from the Justice Department that they allowed merchants to sell and import illegal pharmaceuticals and other restricted items into the U.S.The operator of Chinese e-commerce site Ali…
By Elias SchisgallAlibaba Group and a U.S.-based payment processor agreed to pay $600 million to resolve allegations from the Justice Department that they allowed merchants to sell and import illegal pharmaceuticals and other restricted items into the U.S.The operator of Chinese e-commerce site Ali…
The U.S. Justice Department said on Wednesday that Alibaba and AUS Merchant Services have agreed to pay $600 million to resolve allegations that they failed to prevent illegal sales of pharmaceuticals.Alibaba did not immediately respond to a request for comment.
Cathie Wood's ARK Invest increased its exposure to artificial intelligence, digital assets and next-generation healthcare during the week of June 22 to 26, while reducing positions in streaming and Chinese technology companies.ARK Invest added to several AI-related holdings, including Cerebras Syst…
Cathie Wood's ARK Invest increased its exposure to artificial intelligence, digital assets and next-generation healthcare during the week of June 22 to 26, while reducing positions in streaming and Chinese technology companies.ARK Invest added to several AI-related holdings, including Cerebras Syst…
Evans J. Michael, a director and President, reported sales of ordinary shares on 2026-06-29 under Rule 144. The filings show weighted average selling prices of $94.92 for one block and $95.59 for a second block. The total sale amount reported was $68,360,495 across 720,000 shares sold. Following th…
By Helen Reid and Philip BlenkinsopEurope on Wednesday took a first step towards curbing what it calls unfair competition from online retailers such as Shein, Temu and AliExpress by imposing a €3 fee on low-value e-commerce imports from China that previously entered the bloc duty-free.The move is a…
Washington's top lobbying firms are moving quickly to cut ties with Chinese tech giants as new US restrictions tighten the pressure around the Pentagon's China blacklist. Alibaba Group NYSE:BABA has lost five lobbying firms, while Tencent Holdings (TCEHY) has lost four, according to recent disclosu…
Alibaba's BABA digital commerce strategy is evolving into a more integrated, AI-enabled retail ecosystem that could support growth in fiscal 2027. Rather than relying solely on gross merchandise volume expansion, Alibaba is enhancing merchant productivity, consumer engagement and platform monetizat…
By Ethan Wang and Eduardo BaptistaChina's food delivery giant Meituan HKEX:3690 said on Tuesday it had released and would open-source its next-generation LongCat large language model, claiming it is the world's first trillion-parameter AI system trained and run entirely on a 50,000-chip cluster pow…
France is scrapping a two-euro charge on low-value e-commerce packages arriving from outside the European Union from July 1, when a heftier pan-European Union fee kicks in, Serge Papin, the minister for small businesses said on Tuesday.The fee will increase to 5 euros from November, Papin said, as…
France's Senate passed a revised version of a bill on Monday aimed at curbing online fast-fashion retailers such as Shein, Temu, which is owned by PDD Holdings NASDAQ:PDD, and AliExpress NYSE:BABA, after more than two years of debate and discussion between the upper and lower houses of parliament a…
By Robyn MakAI chips are running perilously hot. China's Kunlunxin is targeting a valuation of $50 billion in its upcoming Hong Kong IPO, The Information reported, citing sources. That's up 17 times in just six months or so as semiconductor shortages continue, accounting for most of majority owner…
Xu Hong, an officer serving as Chief Financial Officer, sold ordinary shares at a weighted average price of $12.15 per share. The total sale amount reported was $2,126,906. Following the transaction, Xu Hong directly owned 280,496 ordinary shares and indirectly owned 657,570 ordinary shares held by…
Chinese memory chipmaker ChangXin Memory Technologies (CXMT) has signed a long-term supply agreement with Tencent Holdings HKEX:700 worth more than 20 billion yuan ($2.94 billion) ahead of its blockbuster stock market debut, according to three people with knowledge of the matter.The agreement cover…
By Robyn MakKunlunxin may bag a $50 bln valuation, up 17-fold in months as semiconductor shortages continue, accounting for most of its top owner’s worth. The implied 25 times sales is akin to listed rivals. But the speed and disconnect highlight how the market is running uncomfortably hot.Full vie…
Shares of Strategy (MSTR), Alibaba Group Holding Ltd. (BABA), and Nike Inc. (NKE) slumped to fresh lows last week amid a series of negative catalysts.MSTR stock slumped more than 3.5% at close on Friday as a sharp decline in Bitcoin prices extended a selloff in the company’s shares. BABA stock clos…
