China's top e-commerce platform Alibaba Group Holding Ltd on Thursday posted its first quarterly operating loss since going public in 2014 due to a record anti-monopoly fine by the country's market regulator.
U.S. asset manager Fidelity Investments has cut its valuation of Chinese financial technology giant Ant Group in half in its latest filings assessing the worth of the shares its funds hold in the group.
Ant Group is eyeing options for Jack Ma to divest his stake in the firm and give up control, as meetings with Chinese regulators signaled that the move could help draw a line under Beijing's scrutiny of its business.
Alibaba and Ant Group founder Jack Ma has lost the title of China's richest man, a list published on Tuesday showed, as his peers prospered while his empire was put under heavy scrutiny by Chinese regulators.
The Trump administration is considering adding tech giants Alibaba and Tencent to a blacklist of firms allegedly owned or controlled by the Chinese military, two people familiar with the matter said on Wednesday.
Alibaba plans to raise at least $5 billion through the sale of a U.S. dollar-denominated bond this month, four people with knowledge of the matter said, amid regulatory scrutiny of co-founder Jack Ma’s empire.