It’s likely part of Alibaba’s plans to split into 6 separate units, which was announced in March this year.
One aspect of the business, its cloud computing unit, will however let go of around 7% of its staff.
Only 3 years ago, SoftBank held a 25% stake in the company when it was valued at $100bn.
The move signaled the easing of government regulation of the space and caused a 14% jump in BABA.
China’s zero-covid policy has been tough on retail businesses, and some now think that the last glimmer of hope has faded.
Alibaba is confirming its commitment to a US listing despite regulators putting the company on their watchlist.
Alibaba is hoping that its dual-listing plans might help the company overcome its failed attempt at US domination.
Alibaba gets all those Friday feels from a day of exciting news out of China’s central bank, which is good because competition is heating up.
Mega-brand Alibaba has been given a much-needed boost after news Chinese covid restrictions could be easing.
Ok, we’ve finally got some good news for US-listed Chinese stocks, but will it be enough to wipe out recent reversals? Looks good so far.
Alibaba has been through some serious crests and troughs this month, but it’s hoping a new buyback program will help renew investors’ confidence.
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