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☆ Efficiency helped turn Silicon Valley around. China is taking it to the extreme to do the same.
▼ + stars: | 2024-06-24 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Now, China's tech bosses seem ready to do the same. AdvertisementChina is pushing tech workers even harderChinese tech companies seem willing to take Silicon Valley's efficiency mantra even further. Big names on China's tech scene, like JD.com and Jack Ma's Alibaba, have faced a threat from fast-growing newcomers like Pinduoduo, the sister company of online marketplace Temu. AdvertisementQu left Baidu after her comments were made public, but the ferocity of what China's tech workers are hearing isn't abating.

Persons: —, Mark Zuckerberg, Andy Jassy, Meta's Mark Zuckerberg, Richard Liu, Liu, Jack Ma's Alibaba, Pinduoduo, Jack Ma, Wang, Ma's Alibaba, aren't, Qu Jing, Qu, Baidu, isn't Organizations: Service, Business, Financial Times, Bloomberg, China Labor Watch, Baidu Locations: China, Beijing

☆ Masayoshi Son made $72 billion betting on Jack Ma's Alibaba. Now he wants to do it again with AI.
▼ + stars: | 2024-02-10 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

Read previewMasayoshi Son owes much of his success to an incredibly prescient dot-com era bet on Alibaba. The SoftBank chief first invested $20 million in Jack Ma's ecommerce upstart in 2000, when it was just a year old. That faith was handsomely rewarded, with SoftBank realizing an incredible $72 billion gain on its investments in Alibaba over the course of 23 years. Arm and the Vision Funds collectively represent 70% of SoftBank’s net asset value, a key performance indicator that reflects the total value of its holdings. Arm, SoftBank's latest golden child, is on course to deliver, but there is still much work to be done to get the Vision Funds back on track.

Persons: —, Jack Ma's ecommerce, Ma, Son, Masayoshi Son's, Jack Ma, Alibaba, ChatGPT, Yoshimitsu Goto, SoftBank, Uber, Sam Altman, he'll Organizations: Service, Business, Future Publishing, Vision, Apple, Google, Nvidia, Samsung, Nasdaq, Funds Locations: Alibaba, China, British, London

☆ Morgan Stanley still likes these Chinese stocks despite a country downgrade
▼ + stars: | 2023-08-06 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Morgan Stanley has decided to take a break, downgrading MSCI China to equal weight while recommending a few consumer and industrial names. The Politburo meeting signaled policy easing, but outstanding issues — of debt, property, jobs and geopolitics — need significant improvement for sustainable inflows, the Morgan Stanley analysts said. Morgan Stanley has so far only changed it once this year: a cut in July to 5%. And despite their downgrade of Chinese stocks, the analysts added two mainland-traded A shares to their focus list. In its latest report, Morgan Stanley analysts also turned overweight on India.

Persons: Morgan Stanley, Laura Wang, Fran Chen, Wood, Warren Buffett, behemoth BlackRock, Biden, Liqian Ren, Ren, Hang Seng, Jack Ma's Alibaba, Morgan Stanley's, Morgan, WisdomTree's Ren doesn't, Ren doesn't, Michael Bloom Organizations: U.S, Chinese Communist Party, China ETF, WisdomTree Trust, Owned Enterprises ETF, Wall, JPMorgan, Baidu, State, Owned Enterprise Fund, Ping An Insurance Locations: China, . U.S, WisdomTree, WisdomTree Trust China, Morgan, Morgan Stanley's China, Hong Kong, India

☆ Jack Ma's run-in with Beijing not only saw him disappearing for over 2 years, it also cost his companies over $850 billion
▼ + stars: | 2023-07-10 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Jack Ma's Alibaba and Ant Group collectively lost $850 billion in value since their peak in 2020. They came under pressure following Ma's criticism of Beijing, which spurred a regulatory crackdown. On Friday, Beijing announced a $985 million fine for Ant Group, signaling an end to the crackdown. In April, he was appointed an honorary professor at the University of Hong Kong. Alibaba shares in Hong Kong were up 3.1% at 86.90 Hong Kong dollars apiece at midday, buoyed by news of the fine.

Persons: Jack Ma's Alibaba, Jack Ma, Ma, —, Ant — Organizations: Ant Group, Ant, Michelin, University of Hong, Hong Locations: Beijing, China's, Alibaba, China, Bangkok, Thai, Hong Kong, Hangzhou, University of Hong Kong, Japan, New York

Since 2015, Prime Day sales have risen to more than $7 billion and could top $8 billion this year. Now in its ninth year, Amazon's annual Prime Day has become a fact of American life — a quasi-holiday that retailers of all types pile into. Protestors in New York raising awareness of Amazon facilitating ICE surveillance efforts coinciding with Amazon Prime Day 2019. How Prime Day is goingLast year, Amazon drove more than $7 billion in sales through its Prime Day sales, according to Insider Intelligence. The number of Amazon Prime account holders has ballooned too, with nearly 175 million people using Amazon Prime in the US today — around two-thirds of the country's population — according to a report by Insider Intelligence.

Persons: Michael M, Jack Ma's Alibaba, Diego Piacentini, Jeff Bezos, Brad Stone, Bezos, Execs, Stone, Meagan Wulff Reibstein, Wulff, Kevin Hagen, Brian Olsavsky, Rafael Henrique, Scott Olson, Andrew Lipsman, Lipsman, — Organizations: Amazon Prime, Companies, Amazon, Intelligence, Insider Intelligence, Workers, Walmart, Getty, Target, Target Circle, Black, Prime Locations: China, Tokyo, London, Paris, Munich, Japan, Europe, New York

☆ Ant-linked firms' shares rise after news of Jack Ma ceding control; Alibaba jumps
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +4 min

Jan 9 (Reuters) - Shares of listed Chinese companies that count Ant Group as a major shareholder rose on Monday after announcements that Ant founder Jack Ma is giving up control of the fintech giant following an overhaul. Ant indirectly owns stakes ranging from more than 20% to slightly more than 5% in those companies. Ant said over the weekend that founder Jack Ma will give up control of the company. China's domestic A-share market requires companies to wait three years after a change in control to list. read moreLi Nan, professor of Finance at Shanghai Jiaotong University, however said Ant's inherent problems remain after its change of control.

☆ Shares of Ant-linked firms rise after news of Jack Ma ceding control; Alibaba jumps
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +2 min

Jan 9 (Reuters) - Shares of listed Chinese companies that count Ant Group as a major shareholder rose on Monday after announcements that Ant founder Jack Ma is giving up control of the fintech giant following an overhaul. Hong Kong-listed shares of Ma's Alibaba (9988.HK) jumped more than 5%. Ant said over the weekend that founder Jack Ma will give up control of the company. China's domestic A-share market requires companies to wait three years after a change in control to list. Ant Group said on Sunday it has no plan to initiate an IPO.

☆ Shares of Ant-controlled companies, Alibaba rise after Jack Ma gives up control
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +1 min

SHANGHAI, Jan 9 (Reuters) - Shares of listed Chinese companies that count Ant Group as a major shareholder rose on Monday, after announcing that Ant founder Jack Ma is no longer their controller following an overhaul at the fintech giant. Hong Kong-listed shares of Ma's Alibaba (9988.HK) jumped more than 5%. Ant said over the weekend that founder Jack Ma will give up control of the company. read moreThe overhaul seeks to draw a line under a regulatory crackdown that was triggered soon after its mammoth stock market debut was scuppered two years ago. Reporting by Shanghai newsroom; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

☆ Jack Ma's Alibaba climbs after the the billionaire gives up control of Ant Group
▼ + stars: | 2023-01-09 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

The rally comes as billionaire Jack Ma gives up control of Ant Group, the fintech business empire he built decades prior. Ant saw its $37 billion IPO canceled at the last minute in November 2020. Alibaba confirmed on Saturday a previous report by the Wall Street Journal that said Ma would cede control of Ant. Last week, he resurfaced in Thailand hours before Ant Group announced in a statement he was giving up control of the company. Local media reported that Ma was at a restaurant with Soopakij Chearavanont, the chair of the Charoen Pokphand Group.

☆ Jack Ma's Alibaba, China tech giants are making a comeback post zero Covid
▼ + stars: | 2023-01-05 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Chinese tech giants are witnessing a dream start to the year. US-listed shares of Chinese e-commerce firms Alibaba (BABA), JD.com (JD) and Pinduoduo (PDD) added $53 billion to their combined market value on Wednesday. The surge comes as investors are feeling optimistic that Chinese regulators will go easy on tech firms this year and also introduce measures to boost growth in the industry. The change in sentiment comes after Jack Ma’s Ant Group won a key approval for capital expansion. Chinese tech companies have faced a sweeping regulatory crackdown since late 2020, which drove investors away.

☆ Chinese leader Xi Jinping's power grab fueled a $6 trillion stock selloff and the yuan's decline. These 4 charts capture the market meltdown.
▼ + stars: | 2022-10-30 | by ( George Glover | ) www.businessinsider.com time to read: +5 min

China's President Xi Jinping has tightened his grip on power — and that has rocked markets. Investors dumped Chinese stocks in a $6 trillion blowout as Xi shut reformers out of decision making. Spooked investors dumped Chinese stocks in a $6 trillion blowout Monday, according to Bloomberg data. Under Xi, the People's Bank of China has tended to favor softer yuan fixes, allowing the currency to depreciate. Alibaba, the largest US-listed Chinese stock by market value, fell 12% Monday, and about 46% this year so far.

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