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☆ Who is Alibaba's new CEO Eddie Wu and chairman Joe Tsai?
▼ + stars: | 2023-06-20 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +3 min

Eddie Yongming Wu will step in as CEO, while Joe Tsai will take over as chairman on Sept. 10. Eddie Wu, incoming CEOEddie Wu is one of the co-founders of Alibaba, who first served it as a technology director back in 1999. Joe Tsai, incoming chairmanAnother co-founder of Alibaba, Joe Tsai was appointed as the company chief financial officer until 2013 and currently serves as executive vice chairman. He is also the chairman of Alibaba's logistics unit Cainiao, as well as a member of the Taobao and Tmall division. Joe Tsai will take up the role of chairman at Alibaba after current chairman and CEO Daniel Zhang steps down.

Persons: BABA BABA, Daniel Zhang, Eddie Yongming Wu, Joe Tsai, Jack Ma, Eddie Wu, Alibaba, Wu, Eddie Wu's, shouldn't, Jacob Cooke, Cooke, Jp Yim, Tsai, Lazada, Michael Evans Organizations: Alibaba, Ant Group, CNBC, Getty, Brooklyn Nets Locations: China, U.S, Lazada, Europe, Singapore, Asia

☆ Eddie Wu takes over as CEO of Alibaba in surprise leadership shuffle
▼ + stars: | 2023-06-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEddie Wu takes over as CEO of Alibaba in surprise leadership shuffleCNBC's Deirdre Bosa joins 'The Exchange' to discuss Alibaba's surprise leadership shakeup, Jack Ma's relationship with the new Alibaba executives, and the decision to split up the Alibaba Group.

Persons: Eddie Wu, Alibaba, Deirdre Bosa, shakeup, Jack Ma's Organizations: Alibaba

☆ Alibaba CEO Daniel Zhang to step down. Here's what it means for the Chinese tech giant
▼ + stars: | 2023-06-20 | by ( Arjun Kharpal | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAlibaba CEO Daniel Zhang to step down. Here's what it means for the Chinese tech giantAlibaba CEO Daniel Zhang plans to step down from his role in September. Eddie Wu will take over as CEO, and Joe Tsai will become chairman. Both Wu and Tsai are Alibaba veterans and close confidants of founder Jack Ma. CNBC's Arjun Kharpal breaks down the moves.

Persons: Daniel Zhang, Eddie Wu, Joe Tsai, Wu, Tsai, Jack Ma, CNBC's Arjun Kharpal

☆ Alibaba founder Jack Ma gives first class as visiting professor at University of Tokyo
▼ + stars: | 2023-06-19 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Alibaba founder Jack Ma gave a lecture as a visiting professor to the University of Tokyo, as the high-profile Chinese entrepreneur retreats further from his business empire following Beijing’s regulatory crackdown. His return was a symbolic move and probably a “planned media event” by Beijing intended to appease private sector fears, according to analysts. In April, the University of Hong Kong announced that Ma would join its business school for the next three years. Ma became a professor at the University of Tokyo on May 1, and his period of stay is until October 31, a profile page of Ma shows. Beijing needs the private sector more than ever to shore up growth and create jobs.

Persons: Hong Kong CNN —, Jack Ma, Ma, –, Masa Son, Ma chatted, Xi Jinping, Li Qiang Organizations: Hong Kong CNN, University of Tokyo, Alibaba Group, University of Hong Kong, Damo Academy Locations: Hong Kong, Japan, China, India, Malaysia, Shanghai, Beijing, Spain, Hangzhou

☆ Jack Ma appears at an Alibaba event in China days after an executive says he's 'alive' and 'happy'
▼ + stars: | 2023-06-18 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +2 min

Ma taught his first class at the University of Tokyo last week, per the South China Morning Post. Jack Ma has popped up at an Alibaba event, just a few days after its president described him as "alive" and "happy." Hong Kong's South China Morning Post reported he took his first class on June 12 at the institution. He's well, he's happy. He's teaching at a university in Tokyo, spending more time in China," he said, per CNBC.

Persons: Jack Ma, Ma, Michael Evans, Jack Organizations: Alibaba, Bloomberg, University of Tokyo, China Morning, Damo Academy, China Morning Post, CNBC Locations: Hangzhou, Thailand, Bangkok, Beijing, China, Tokyo

☆ Alibaba founder Jack Ma is 'alive' and 'happy,' top exec says after China's tech crackdown
▼ + stars: | 2023-06-16 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

In this article BABABABA Follow your favorite stocks CREATE FREE ACCOUNTAlibaba founder Jack Ma is "happy," according to the company's President Michael Evans. Costfoto | Future Publishing | Getty ImagesPARIS — Alibaba founder Jack Ma is "alive" and "happy," the Chinese e-commerce giant's president said Thursday, after speculation continues about the billionaire's activities following Beijing's intense crackdown on his tech empire. He's well, he's happy. He's teaching at a university in Tokyo, spending more time in China," Alibaba President Michael Evans said at the Viva Tech conference in Paris. He cares ... as much about this company today, as he did when he started, and I expect that that will continue for as long as Alibaba and Jack Ma are here.

Persons: BABA BABA, Jack Ma, Michael Evans, Te, Alibaba, Jack, Ma, Maurice Levy Organizations: Getty, PARIS, Viva Tech, Ant Locations: Tokyo, China, Paris, Beijing

☆ Alibaba aims to expand local business in Europe, president says
▼ + stars: | 2023-06-15 | by ( Silvia Aloisi | ) www.reuters.com time to read: +2 min

[1/2] A man walks past a logo of Alibaba Group at its office building in Beijing, China August 9, 2021. REUTERS/Tingshu Wang/File PhotoPARIS, June 15 (Reuters) - Alibaba Group (9988.HK) will make Europe top priority as it focuses on building local businesses and online platforms outside China, the president of the e-commerce giant said on Thursday. "We have started with a pilot project in Spain which we will expand across Europe," he said. Its e-commerce business is to be split, with one side covering Alibaba's domestic-facing e-commerce marketplaces and the other its overseas e-commerce marketplaces such as Lazada, which serves Southeast Asia, and AliExpress. Taobao and TMall are China's dominant e-commerce marketplaces in China.

Persons: Tingshu Wang, J, Michael Evans, Alibaba, Jack Ma, Ma, Jack, Evans, Silvia Aloisi, Benoit Van Overstraeten, Jason Neely Organizations: Alibaba Group, REUTERS, Alibaba, HK, Thomson Locations: Beijing, China, Europe, Paris, Spain, Southeast Asia, Japan, Australia, Thailand, Tokyo, Alibaba

☆ Twitter is a more dangerous platform for the LGBTQ community now than it was a year ago, GLAAD finds
▼ + stars: | 2023-06-15 | by ( Brandon Gomez | ) www.cnbc.com time to read: +4 min

Twitter is a more dangerous social platform for LGBTQ users now than it was a year ago, according to a new survey from LGBTQ+ rights organization GLAAD. GLAAD found that the platforms continue to fall short at establishing and enforcing safeguards meant to protect LGBTQ users from hate speech. "You can think of community notes as like an error correction on information in the network. And the effect of community notes is actually bigger than it would seem. The debate over a community notes approach is that it leaves the burden on those affected by hate speech to report harmful posts.

Persons: Kara Swisher, Sarah Kate Ellis, Jack Malon, we've, we're, Elon Musk, Musk, CNBC's David Faber Organizations: CNBC, New York, Facebook, YouTube, Twitter, GLAAD, Machine

☆ The job market held up in May. But the Fed may have already decided to pause
▼ + stars: | 2023-06-02 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

Washington, DC CNN —The US labor market picked up momentum in May, once again defying expectations of a slowdown. Many economists, including those at the Fed, still expect a recession later in the year. The labor market and signs of future disinflationThe May jobs report mostly showed that the labor market held up. Some top economists have argued that the strong labor market has had a minor, albeit growing, impact on inflation. Hawkish Fed officials still think the Fed’s job isn’t done.

Persons: That’s, Joe Biden’s, ”, Philip Jefferson, Patrick Harker, “, ” Harker, It’s, ” Julia Pollak, ZipRecruiter’s, you’ve, you’d, Dave Gilbertson, hasn’t, Ben Bernanke, ” Jack Macdowell, Louis President James Bullard, Bullard, Louis Fed’s, Louis, Jerome Powell, there’s, Ian Shepherdson, Eugenio Alemán, Raymond James Organizations: DC CNN, Federal, Fed, Federal Reserve Bank of Philadelphia, National Association for Business Economics, CNN, Employers, of Labor Statistics, BLS, UKG, The Palisades Group, Hawkish Fed, Federal Reserve Bank of St, Louis Fed, Pantheon Locations: Washington, Washington ,

☆ Musk's China visit ends with burgers for 100 Shanghai Tesla workers — and favor from Beijing as state-affiliated media showcases trip on Twitter
▼ + stars: | 2023-06-01 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +3 min

Elon Musk's surprise trip to China ended with burgers and soft drinks for Tesla staff in Shanghai. His trip was showcased on Twitter by Chinese state media. Elon Musk completed his whistle-stop tour of China by treating workers at Tesla's Shanghai plant to burgers and soft drinks, with his visit being showcased on Twitter by China's state-affiliated media. A video published online by Tesla's China team, seen by Insider, showed Musk delivering a speech to a crowd of workers at his Shanghai plant. Elon Musk visited workers at Tesla's Shanghai gigafactory after first China trip in three years.

Persons: Elon Musk's, Elon Musk, Tesla's, China Grace Tao, Grace Tao, Weibo Musk, Jack Ma, Zeng Yuqun, Tesla, Musk Organizations: Twitter, Bloomberg, Tesla's, Global Times, Communist Party's, Shanghai gigafactory Locations: China, Shanghai, Tesla's China, Beijing

☆ 6 photos of Elon Musk's visit to China, from a 16-course dinner to meetings with Chinese officials
▼ + stars: | 2023-05-31 | by ( Grace Kay | ) www.businessinsider.com time to read: +5 min

Photos from the visit show Musk's private jet landing and the Tesla CEO's 16-course meal. Elon Musk touched down in China for the first time in three years on Tuesday — a key trip for the Tesla chief. Musk met with Chinese Foreign Minister Qin Gang. Musk is one of several US CEOs to visit China in recent months. Some analysts have hailed Musk's visit to China as a positive sign.

Persons: Elon Musk, Musk, Elon, Tingshu Wang, Ma, Jack Ma, Tom Zhu, Grace Tao, Qin Gang, Qin, he's, Zeng Yuqun, Fu Yan, Jin Zhuanglong, Tesla, CNBC's David Faber, Li Keqiang, Li Qiang, Dan Ives Organizations: Morning, Tesla, Twitter, REUTERS, Reuters, Tesla's, Beijing REUTERS, Chinese Ministry of Commerce, Foreign, China's Ministry of Foreign Affairs, Amperex Technology, Weibo, Associated Press, Apple, Getty Locations: China, Beijing, Austin , Texas, Anchorage , Alaska, People's Republic of China, Shanghai

☆ Elon Musk hailed as 'Brother Ma' during a trip to China, where he's been lavished with a 16-course meal and treated like a king
▼ + stars: | 2023-05-31 | by ( Hasan Chowdhury | Cheryl Teh | ) www.businessinsider.com time to read: +3 min

During a surprise visit to the country, Musk has been inundated with high praise, Reuters reported. His trip has caused a social-media storm, with people eager to recommend places for him to visit. It was the Tesla and Twitter boss's first trip to China in three years, making his visit a high-profile affair for members of the public. Pictures of what's thought to be the menu for Musk's dinner in China are circulating on China's Twitter-like Weibo platform. Screengrab/WeiboReuters reported the evening included a 16-course meal shared with battery executive Zeng Yuqun at the Man Fu Yan restaurant.

Persons: Elon Musk, Musk, Jack Ma, Ma, Zeng Yuqun, Fu, Xi, Tesla Organizations: Reuters, Morning, Twitter, Weibo Reuters, Fu Yan Locations: China, Beijing, Weibo, Peking, Taiwan, Ukraine

☆ Strongmen are riskier the more they stay in power
▼ + stars: | 2023-05-22 | by ( Hugo Dixon | ) www.reuters.com time to read: +7 min

The longer authoritarian leaders stay in power, the greater the risk they will make decisions that damage their economies. For example, the Turkish stock market rose nine-fold in dollar terms during Erdogan’s first decade in charge. Similarly, the Russian stock market rose five-fold in dollar terms during Putin's first 14 years in the Kremlin. Xi’s zero-Covid policy meant the Chinese economy had a bad year in 2022 when the rest of the world was rebounding. In the last nine years, the stock market has lost nearly 20% of its value in dollar terms.

REUTERS/Aly Song/File PhotoSYDNEY/HONG KONG, May 8 (Reuters) - Alibaba's (9988.HK) logistics arm aims to raise up to $2 billion via a listing in Hong Kong likely early next year, sources with knowledge of the matter said, bolstering hopes for a capital markets revival in the Asian financial hub. Cainiao, which has started work on the IPO, is looking to raise between $1 billion and $2 billion in Hong Kong, according to three sources. IPO PROSPECTSDealmakers hope that Cainiao's potential IPO, expected to be followed by market debuts from some of the other Alibaba units in the near-term, could help revive sluggish fundraising activities in Hong Kong. About $1.5 billion has been raised from IPOs in Hong Kong so far this year, marginally above the $1.2 billion raised in the same period last year, according to Refinitiv data. ($1 = 6.9149 Chinese yuan renminbi)Reporting by Scott Murdoch in Sydney and Julie Zhu in Hong Kong; Editing by Sumeet Chatterjee and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

☆ That simple 'hi' text from a stranger could be the start of a scam that ends up costing you millions
▼ + stars: | 2023-05-02 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +14 min

The scammer networks operate fake trading platforms that look "exactly the way they should look," Friedman told CNBC. "When I was looking at who had messaged, I was like, 'I don't know if this person is real,'" Kaimi told CNBC. When pressed, Kaimi told Mike about his financial difficulties, stemming from past credit-card debt. "I thought I was someone who knew when they were being scammed, was able to discern things," Kaimi told CNBC. But when Kaimi told Mike he was planning to withdraw his funds, the penny dropped.

☆ Jack Ma takes up visiting professorship in Japan
▼ + stars: | 2023-05-02 | by ( Michelle Toh | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —Jack Ma has a new job: visiting professor in Japan. The Chinese billionaire has joined Tokyo College, under the University of Tokyo, according to a Monday statement on its website. In his role, Ma will work with researchers, serve as an adviser to the college and participate in seminars. In March, he visited a school funded by the Chinese tech giant in his hometown of Hangzhou, where he was seen meeting with students and teachers. Ma relinquished control of Ant Group in January as part of a shakeup of its shareholding structure.

☆ Alibaba founder Jack Ma takes up Tokyo University visiting professorship
▼ + stars: | 2023-05-01 | by ( ) www.reuters.com time to read: +1 min

TOKYO, May 1 (Reuters) - Alibaba Group (9988.HK) founder Jack Ma has been invited to be a visiting professor at Tokyo College, a new organization run by the University of Tokyo, the university said on Monday. The appointment term for China's best-known entrepreneur finishes at the end of October, but the contract is renewable on an annual basis, the university said. At the college, Ma will be engaged in areas including advising on important research themes and giving lectures on management and business start-ups. The Tokyo College was founded in 2019 to serve as an interface between the University of Tokyo and overseas researchers and research institutions. Reporting by Mariko Katsumura; Editing by Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

☆ Jack Ma, the billionaire co-founder of Alibaba who disappeared from public life in 2020, has taken up a teaching role in Japan
▼ + stars: | 2023-05-01 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Alibaba co-founder Jack Ma has joined Tokyo College, which is run by the University of Tokyo. Ma will be conducting research and teaching about sustainable agriculture and food production. Alibaba co-founder Jack Ma has taken up a teaching position in Japan, one of the first public roles he has assumed since disappearing from the spotlight in 2020. In his new role, Ma is expected to conduct research on sustainable agriculture and food production, Tokyo College said in an announcement on Monday. Ma said in May 2019 that he would go back to teaching after retiring from Alibaba in September of the same year.

☆ Jack Ma, who disappeared from public view in 2020, just accepted a teaching position in Japan. Here's how the Alibaba and Ant Group founder got started and amassed a huge fortune.
▼ + stars: | 2023-05-01 | by ( Madeline Stone | Avery Hartmans | Sam Tabahriti | ) www.businessinsider.com time to read: +2 min

Jack Ma, the billionaire founder of Alibaba and Ant Group, accepted a teaching role in Japan. Ant Group said Ma would give up control of the fintech company amid closer scrutiny from Beijing. Alibaba and Ant Group founder Jack Ma, who disappeared from public view in 2020 and resurfaced in Thailand in January, has accepted a teaching role in Japan. Ma is expected to conduct research on sustainable agriculture and food production, Tokyo College said in an announcement on May 1. Jay Fai restaurant in Bangkok, Thailand, posted a photo of Ma when he resurfaced.

☆ China investment consensus cracks as politics fuel fears
▼ + stars: | 2023-04-28 | by ( Tom Westbrook | ) www.reuters.com time to read: +5 min

It is unlikely to be resolved quickly even if the markets keep rallying and China economy keeps global growth ticking. Data paints a murky picture, but supports brokers' analysis that the bid from long-only money managers is absent. Allocation analysis from data firm EPFR shows a broad downtrend, especially to U.S.-domiciled China funds. EPFR figures show allocation to China funds outside the U.S. has increased for two years and mainland markets' recent performance has also been encouraging. "Our reservations about China's long-term investment prospects are based on our outlook for returns to capital."

☆ He's played chess with Peter Thiel, sparred with Elon Musk and once, supposedly, stopped a plane crash: Inside Sam Altman's world, where truth is stranger than fiction
▼ + stars: | 2023-04-27 | by ( Melia Russell | Julia Black | ) www.businessinsider.com time to read: +41 min

But, "you do at some point need to start having contact with reality," he told Insider. The plan was still only a rough sketch, Blania told Insider, but that didn't seem to matter to his host. "He always wanted to understand everything at a very deep level," Thrun told Insider in an email. (When asked about guns, Altman told Insider he'd been "happy to have one both times my home was broken into while I was there.") When asked about this, Altman told Insider in an email: "i can guess what that's about; these stories grow crazily inflated over the years of getting re-told!

☆ Sam Altman is building his utopia, whether you want it or not
▼ + stars: | 2023-04-27 | by ( Melia Russell | Julia Black | ) www.businessinsider.com time to read: +41 min

Altman told Insider, "We debate our approach frequently and carefully." "I don't think anyone can lose your dad young and wish he didn't have more time with him," Altman told Insider. Altman told Insider that his thinking had evolved since those posts. (When asked about guns, Altman told Insider he'd been "happy to have one both times my home was broken into while I was there.") When asked about this, Altman told Insider in an email: "i can guess what that's about; these stories grow crazily inflated over the years of getting re-told!

The Ukraine war made energy and other commodities even more expensive than they were during the pandemic, prompting a global cost-of-living crisis. What has that done to their market share as competitors may be pricing lower and gaining share?" Tineke Frikkee, a fund manager at Unilever and Reckitt investor Waverton Asset Management, said. "Price rises should gradually decelerate as input costs do the same," Frikkee said, adding that companies should instead be investing in product innovation. "It will be a delicate balance, with consumer disposable income stretched in many key markets for these firms," Jack Martin, a fund manager at Unilever investor Oberon Investments, said.

☆ Why China's billionaires keep disappearing
▼ + stars: | 2023-04-15 | by ( Anuz Thapa | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy China's billionaires keep disappearingChinese billionaires have been dominating headlines for their mysterious disappearance from the public eye. In 2020, the disappearance of Jack Ma, founder of Alibaba, grabbed the world's attention. Fast forward to 2023, the disappearance of billionaires continues, where Bao Fan, a renowned investor banker, became the latest name in the list of 'vanishing billionaires.' Watch the video above to find out the reasons behind China's 'missing' billionaires and their ripple effects on China's private sectors.

Alibaba, one of the most valuable assets in SoftBank's portfolio, tumbled as much as 5.2% in Hong Kong and closed down about 2%. On Wednesday, the FT said forward sales based on filings at the U.S. Securities and Exchange Commission showed SoftBank's Alibaba stake would eventually fall to 3.8% from almost 15%. The Japanese group, led by billionaire founder Masayoshi Son, has sold about $7.2 billion worth of Alibaba shares this year through prepaid forward contracts, the newspaper said. "It is well within the realms of expectations that the proportion of Chinese shares among its total investment will shrink further." In New York, Alibaba's shares were up 3% as analysts noted that the stake sale was more due to SoftBank's circumstances.

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