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China's Most Famous Mogul Has a New Gig in Japan

Jack Ma, who disappeared after angering Chinese bank regulators, is teaching at Tokyo College

(Newser) - It appears that Chinese mogul Jack Ma is indeed settling into life in Japan. Ma, once China's richest person, has taken a teaching position at Tokyo College, reports Insider . The 58-year-old founder of Alibaba largely disappeared from public view after criticizing Chinese bank authorities in a 2020 speech, setting...

Alibaba Fires Woman Who Said Manager Raped Her

She says coming forward causes victims to 'suffer more hurt'

(Newser) - An Alibaba employee who accused a manager of raping her during a business trip has been fired by the company—and she says she won't encourage other victims of workplace assault or harassment in China to come forward. The New York Times reports that the woman, identified only as...

Fallout at Alibaba After Worker Details Rape Allegations
Alibaba Manager Accused
of Rape Is Released

Alibaba Manager Accused of Rape Is Released

Authorities in China say his 'forcible indecency' does not constitute a crime

(Newser) - Update: Authorities in China on Monday dropped a rape case against a former manager at Alibaba, saying that his actions did not constitute a crime, reports the New York Times . The man was released after 15 days of detention. He had been arrested after a female Alibaba employee went public...

Jack Ma Vanished in October, Suddenly Reappears

Chinese billionaire seen at virtual educators conference after being 'missing' for months

(Newser) - Everyone worried about Jack Ma can breathe (a little) easier. The Chinese billionaire hadn't been seen or heard from—not even via social media—since the end of October, when he gave a scathing speech against Chinese regulators that enraged President Xi Jinping. Now, however, an encouraging update: "...

Jack Ma Erased From TV Show As Troubles at Home Mount

The Chinese billionaire has been replaced on 'Africa's Business Heroes," which he created

(Newser) - Chinese billionaire Jack Ma has been erased from a reality TV show he created in a sign of continued friction with Beijing. The founder of Alibaba, often called China's Amazon, will not appear on the finale of Africa's Business Heroes, where he's been replaced as a judge...

Regulators Are Cracking Down on 'China's Amazon'

'A concern would be that market power may potentially morph into political power'

(Newser) - The Chinese government is extremely wary of anything that could pose a challenge to one-party rule—including the growing power of tech giants. Regulators announced Thursday they're cracking down on Alibaba, an e-commerce giant known as "China's Amazon," and its financial services sister company Ant, formerly...

Year's Biggest Shopping Day Just Broke Its Own Record
In 68 Seconds,
$1B in Online Sales

In 68 Seconds, $1B in Online Sales

China's Singles Day, world's biggest shopping event, was biggest by far this year

(Newser) - The 11th annual Singles Day has made Black Friday and Cyber Monday look quaint. CNBC reports the world's largest 24-hour shopping event took place Monday, and for Alibaba, it broke an e-commerce record, surpassing last year's record of almost $30.5 billion before the day was even through....

One of World's Richest Men Gives Self Unique Birthday Gift

Jack Ma, founder of Alibaba, steps down on his 55th birthday

(Newser) - Jack Ma turns 55 on Tuesday, and China's richest man is celebrating with a milestone move: He's stepping down as executive chairman of the country's e-commerce behemoth Alibaba. He's doing so "after presiding over one of the most spectacular creations of wealth the world has...

The 'Kiss of Death' for Dolce & Gabbana in China

D&G products scrubbed from e-commerce sites after insulting comments against country

(Newser) - Dolce & Gabbana goods disappeared Thursday from Chinese e-commerce sites as the fallout grew over remarks insulting to China that were apparently made by two of its Instagram accounts. The company has blamed hackers. Searches for Dolce & Gabbana turned up no items on major online retailers such as Alibaba'...

China's Yearly Shopping Frenzy Humiliates Cyber Monday

Singles Day beats last year's $24B record at 4pm on Sunday

(Newser) - Online shoppers in China shattered last year's record of $24 billion in sales on the country's annual buying frenzy Sunday , as the tradition marked its 10th year. The spending binge has for years eclipsed Cyber Monday in the US for online purchases on a single day. This year'...

Billionaire's Plan to Create 1M US Jobs Killed by Trade War

Jack Ma of Alibaba says 'this promise can't be completed'

(Newser) - Take your pick as to which of these statements from Alibaba founder Jack Ma is gloomier: He's going back on his pledge to create 1 million US jobs , and the US-China trade war that he blames for that plan's undoing is one that he believes could last two...

China's Most Expensive Film Just Bombed

Producers pull 'Asura' after a disastrous opening weekend

(Newser) - The movie is called Asura, and it's seen as the first attempt by China's burgeoning film industry to put out a genuine Hollywood-style blockbuster. One problem: The $110 million movie did so poorly in its weekend debut—it pulled in a mere $7.1 million—that producers yanked...

Alibaba Honcho: Decades of 'Pain' Coming

Jack Ma says turmoil caused by internet is inevitable around the world

(Newser) - How's this for a bleak tech warning: "In the next 30 years, the world will see much more pain than happiness." It comes from Jack Ma, founder of the online Chinese retailing behemoth Alibaba, as quoted by Bloomberg . "Social conflicts in the next three decades will...

Alibaba Founder: US Spent $14T on the Wrong Thing

'You're supposed to spend money on your own people,' not war, Jack Ma said

(Newser) - Tempted to blame China for your economic woes, America? Take a look in the mirror instead. That was the message of Alibaba founder Jack Ma Wednesday at the World Economic Forum in Davos, Switzerland, where he wagged a finger at the US for blowing $14 trillion on war efforts over...

What Trump Talked About With China's 2nd-Richest Man

Trump and Jack Ma had a 'great meeting'

(Newser) - Donald Trump met with Jack Ma, currently China's second-richest man , Monday, calling it a "great" discussion. Ma's e-commerce company Alibaba "claims it can create 1 million US jobs by helping small businesses sell their products to China and Asian consumers," the AP reports. Ma told...

This Is the World's Busiest Day for Online Shopping

'Singles Day' is huge in China

(Newser) - China's online shoppers are engaging in a rare bright spot for its cooling economy—a quirky holiday dubbed "Singles Day" that has grown into the world's busiest day for e-commerce. The country's biggest e-commerce brand, Alibaba Group, said Friday sales by the thousands of retailers on...

Walmart Is No Longer World's Largest Retailer

The new king: Alibaba

(Newser) - Walmart is no longer king of the retail castle. Alibaba says it surpassed Walmart's $482.1 billion in annual gross merchandise volume during its last fiscal year. Alibaba has yet to reveal its figures but says it reached about $476 billion 10 days before its fiscal year ended on...

Yahoo Dumps Plan to Sell Alibaba

Board moves instead to sell off core businesses

(Newser) - In something of an abrupt about-face, Yahoo is scrapping its original plan to spin off its prized stake in China's Alibaba Group and will instead break off the rest of its business into a new company. The change of heart announced Wednesday comes after Yahoo's board met last...

Yahoo May Sell Off What You Think of as Yahoo

'Wall Street Journal' reports board is considering 'core business' sale

(Newser) - Yahoo's board will meet later this week to discuss selling the company lock, stock, and Alibaba, sources tell the Wall Street Journal . The sources say that board members are worried about CEO Marissa Mayer's slow progress in turning the company around and are considering selling off Yahoo's...

Kevin Spacey Helps Alibaba Score $1B in 8 Minutes

Daniel Craig (aka James Bond) helped Alibaba out, too

(Newser) - Every Nov. 11, the Chinese celebrate Singles Day, an homage to the uncoupled—the 11/11 date is "reminiscent of 'bare branches,' the Chinese expression for bachelors and spinsters," notes Bloomberg . But Alibaba has something even bigger to raise a glass to: the fact that it smashed...

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