It is also a vote of confidence in China's economy by Alibaba Chairman Jack Ma, who has said investors should not overreact to his country's slowing growth. Youku Tudou's American Depositary Shares rose 10 percent to $26.80 in premarket trading on Friday, below Alibaba's offer of $27.60 per ADS. Alibaba held 18.3 percent of Youku Tudou as of Oct
Read moreA Chinese regulator has formally accepted a request by JD.com, the country's second-biggest online retailer, to investigate its rival Alibaba Group Holding Ltd for possible unfair practices during promotions, JD.com's official microblog said on Thursday. Alibaba, China's biggest e-commerce firm, has previously denied accusations outlined in a JD.com letter to the State Administration for Industry and Commerce (SAIC) in the run-up to Nov
Read moreA Chinese regulator has formally accepted a request by JD.com, the country's second-biggest online retailer, to investigate its rival Alibaba Group Holding Ltd for possible unfair practices during promotions, JD.com's official microblog said on Thursday. Alibaba, China's biggest e-commerce firm, has previously denied accusations outlined in a JD.com letter to the State Administration for Industry and Commerce (SAIC) in the run-up to Nov. 11 'Singles' Day' promotions, the biggest online shopping day of the year in China
Read moreIran's Revolutionary Guards stepped up hacking of email and social media accounts of Obama administration officials in recent weeks in cyber attacks believed linked to the arrest of an Iranian-American businessman in Tehran, the Wall Street Journal reported on Wednesday. The newspaper, citing unnamed U.S.
Read moreThe reasons the weekly financial newspaper gave for the dour outlook: China's struggling economy, increasing competition in e-commerce and more scrutiny of the company's culture and governance. Alibaba spokesman Bob Christie said the article “contains factual inaccuracies and selective use of information, and the conclusions the reporter draws are misleading.” The company has posted on the internet a letter to Barron's editor complaining about the story.
Read more(Reuters) – Alibaba Group Holding Ltd said on Tuesday it expected second-quarter gross merchandise volume (GMV) to be lower than its initial estimates due to weaker consumer spending in China. Alibaba said it now expects GMV to be lower in mid-single digits on a percentage basis from its earlier estimates.
Read moreThe European Union has struck a deal with the United States on protecting personal data shared for law enforcement purposes in criminal and terrorism investigations, the bloc's justice chief said on Tuesday. The so-called “umbrella agreement”, following four years of talks between both sides, would protect personal data exchanged between police and judicial authorities and also between companies and law enforcement authorities. European Justice Commissioner Vera Jourova said the data sharing agreement was a key step to strengthening Europeans' right to privacy.
Read moreTom Brady is back, and for plenty of fantasy football fans his return marks a dramatic shift in strategy. The New England Patriots star quarterback will suit up this Thursday for his team’s season opener, after U.S. District Judge Richard Berman threw out the National Football League’s four-game suspension against him in the now notorious “Deflategate” case
Read more(Reuters) – Walt Disney Co's studio unit said customers of Amazon.com Inc and Microsoft Corp's video services will get access to the collection on its cloud-based movie storage service from Tuesday. Studios like Disney, which has made blockbuster films like “Frozen” and Marvel's “Guardians of the Galaxy,” have been attempting to steer movie fans towards digital purchases as sales of DVDs decline. Walt Disney Studios added that it would launch the app on video streaming-device maker Roku Inc and Google Inc's Android TV on Sept
Read moreGerman retailer Metro AG will use Alibaba's Tmall Global platform to offer a range of German products online to Chinese consumers, branching out from operating wholesale stores in China into e-commerce.
Read more