Page 4 - Alibaba

Alibaba Group Holding starts its overhaul to revamp cloud business

Key among those is the so-called public cloud - the domestic cloud services arm aimed at enterprise customers in China - which will be led by Liu Weiguang

Alibaba scraps cloud business spin-off citing US chip export ban: Report

Reports Q2 revenue in line with analysts' estimates

EU asks AliExpress for details on measures against illegal products

The Commission said it wants to know what measures AliExpress has taken to comply with DSA rules against the dissemination and sale of illegal products online, such as fake medicines

Alibaba starts restructuring with plan to list logistics arm in Hong Kon

In the months since, the company has approved a process to start external financing for its international commerce arm and was also looking to list its cloud unit

Alibaba's Wu lays out strategic priorities for staff- user first, AI driven

This would help maintain a "start-up mindset" and prevent the company getting "stuck in our old ways", he said

Former CEO of China's Alibaba quits cloud business in leadership reshuffle

The former CEO of Alibaba, Daniel Zhang, resigned as head of its cloud computing unit Monday in a surprise move as the Chinese e-commerce empire wraps up a leadership reshuffle. Alibaba said it will invest USD 1 billion in a technology fund Zhang will establish to support the firm's strategies for future growth. Zhang stepped down on the same day he gave up his roles as Alibaba's CEO and chairman. In a filing to the Hong Kong stock exchange, Alibaba said that Eddie Wu, its new CEO, will also head its cloud unit. Wu and Alibaba's new chairman Joseph Tsai assumed their new roles by Monday, with Alibaba saying it has completed its leadership transition. Alibaba expressed its deepest appreciation to Zhang for his contributions to the company over the past 16 years. Alibaba's Hong Kong stock price was down 3.6 per cent Monday following the announcement. In an internal letter dated Sunday and viewed by the AP, Tsai wrote that Zhang had expressed his wish to transition away from his rol

China's Ant Group unveils finance-specific AI model as race heats up

The foray by Ant into financial AI is notable as the company founded by billionaire Jack Ma is China's biggest fintech firm, with more than 1 billion users worldwide for its Alipay payment app

Alibaba Group cloud eyes state firms for up to $3 billion fundraising

Alibaba planned to spin off the unit by distributing a stock dividend to shareholders within 12 months, the company announced in May

Huawei, Alibaba among companies seeking Chinese deepfake approvals

Five Chinese tech firms, including Baidu Inc and SenseTime Group, on Thursday launched AI chatbots to the public after receiving government approval

Alibaba-backed EV maker IM Motors weighs raising fresh funds: Report

The Shanghai-based company is working with advisers including China International Capital Corp. as it seeks to raise about 6 billion yuan ($828 million), the people said

Alibaba's Antfin transfers 10.3% stake to Paytm chief Vijay Shekhar Sharma

Chinese e-commerce major Alibaba group firm Antfin has transferred its 10.3 per cent stake in One97 Communications to the fintech firm's founder and CEO Vijay Shekhar Sharma, according to a regulatory filing. The deal turns One97 Communications, which operates under Paytm brand name, into a majorly Indian-owned company from being majorly owned by Chinese entities. Antfin will continue to hold the economic rights of the stake that is being transferred to Sharma. "We, Antfin (Netherlands) Holding B.V., one of the shareholders of One 97 Communication Limited, hereby file the disclosure in the format prescribed under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, with respect to disposal of 65,335,101 equity shares of the Company..." the filing said on Wednesday. The transaction was completed on August 14, which brought the total stake of Antfin to 13.49 per cent from 23.79 per cent earlier, the filing said. The deal makes Sharma family t

Alibaba to stay on sidelines of Ant Group's $6 billion stock buyback

Alibaba said in an exchange filing it won't take part in Ant's plan to buy back as much as 7.6% of its stock, which the latter's board has approved

China's Alibaba says will not join Ant Group proposed share buyback

Ant Group announced a surprise share buyback of up to 7.6% of its equity interest earlier this month, a day after it was fined $984 million by Beijing for violating laws and regulations

Alibaba CEO Eddie Wu: Little-known coder to continue Jack Ma's legacy

The appointment of Eddie Wu Yongming to replace the affable Daniel Zhang surprised insiders, even though the 48-year-old computer scientist has been with Ma from Alibaba's humblest beginnings

Daniel Zhang to step down as Alibaba CEO, Eddie Wu Yongming to succeed him

Daniel Zhang to focus on Alibaba Cloud Intelligence Group as chairman and CEO; change will take effect September 10

Alibaba names Joseph Tsai chairman, Eddie Wu CEO in a surprise shake-up

Zhang's shock departure comes after Alibaba announced a six-way restructuring to try and juice growth and create a family of standalone leaders in businesses from cloud computing and logistics

Alibaba refutes layoff rumours, says will hire 15,000 people this year

In a post on the firm's official Weibo account, Alibaba said that among the 15,000, more than 3,000 people would be newly-graduated students

Alibaba to make significant job cuts, around 7% of workers, amid IPO plans

The company is offering severance packages to the impacted employees and also plans to transfer some workers to other parts of its business verticals

Alibaba plans cloud computing unit spin-off; logistics arms to go public

Alibaba plans to spin-off of its cloud computing business and said on Thursday that its logistics and grocery units will explore initial public offerings as the Chinese e-commerce company kickstarts a restructuring of its operations in hopes of spurring growth. The company in March announced plans to reshape itself into six business divisions with plans to allow all but its core e-commerce business to raise external capital and go public. In an earnings call Thursday, Alibaba CEO Daniel Zhang said that the Alibaba plans to fully spin off its cloud computing unit and complete a public listing in the next 12 months, allowing it to optimise operations, Zhang said. Alibaba's board of directors approved the full spin-off of the cloud computing unit via a stock dividend distribution to shareholders, the company said. Zhang also said that Freshippo, its groceries arm, as well as logistics arm Cainiao, are ready to go public. Alibaba's board has approved plans to begin Freshippo's IPO pro

Alibaba Group misses revenue estimates, approves cloud unit spinoff

Alibaba on Thursday approved a full spinoff of the Cloud Intelligence Group via a stock dividend distribution to shareholders