Fresh Worries Emerge over Chinese Tech Clampdown with Alibaba in Focus
Concerns over a new wave of regulatory crackdowns across China’s tech sector have taken over investor sentiment. Bloomberg had reported that Chinese authorities were said to have told state-owned firms and banks to begin a fresh round of checks on Alibaba...
Alibaba Cuts 2022 Forecast after Weaker Results
Alibaba slashed its 2022 forecast for fiscal revenue growth from the 27% projected by analysts to 20-23%, following sales that missed estimates for a second straight quarter. Alibaba reported a 29% rise in revenue for 3Q2021 to RMB 200.7bn ($31.4bn) lagging estimates...
Alibaba Led Consortium Nears $8bn Tsinghua Unigroup Takeover
A consortium led by Alibaba Group that includes funds backed by the Zhejiang government, has emerged as the frontrunner to take over troubled chipmaker Tsinghua Unigroup for a possible RMB 50bn ($7.8bn) deal. Sources say that the government is leaning towards the...
