China Newsbase
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The China News Database was last updated at 01:50PM on November 9, 2023.
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67,997 articles matching the search query.
CFTC Charges Against Binance Highlight Role of Former Compliance Chief
The suit by U.S. regulators against Binance Holdings Ltd. focuses in large part on the work of the cryptocurrency exchange’s former chief compliance officer, alleging he willfully aided and abetted the firm in evading U.S. laws.
Bitcoin pushes higher despite the CFTC’s crackdown on Binance
Yahoo Finance Live’s Rachelle Akuffo discusses Bitcoin’s recent moves and provides an update on Sam Bankman Fried’s FTX trial.
Stock Screener Flags Baidu As China Search Engine Rolls Out AI Chat Bot
Baidu stock was selected from this IBD stock screener and is nearing a buy point. The leader's stock gained over 37% this year so far and outpaced the Nasdaq composite.
Alibaba May Be Splitting Up, but It Will Probably Keep the Good Parts for Itself
It’s the largest restructuring ever for the group, with important implications for shareholders as well as the wider Chinese tech sector.
REFILE-UPDATE 1-China stocks edge up in uneven trade ahead of PMI data, Alibaba extended gains
China and Hong Kong stocks finished modestly higher in uneven trade on Thursday as investors pinned hopes on business-friendly policies following Alibaba's restructuring while awaiting manufacturing activity data due this week. China's blue-chip CSI 300 Index rose 0.81%, while the Shanghai Composite Index climbed 0.65%, snapping a four-day losing streak. Hang Seng Index gained 0.58%, while Hang Seng China Enterprises Index went up 0.64%.
Alibaba considers yielding control of some businesses in overhaul
Alibaba Group said on Thursday it will look to monetise non-core assets and consider giving up control of some businesses, as the Chinese tech conglomerate reinvents itself after a regulatory crackdown that wiped 70% off its shares. Group CEO Daniel Zhang said the company's breakup into separate businesses will allow its units to become more agile and eventually launch their own initial public offerings (IPO). His comments come two days after Alibaba announced the largest restructuring in the company's history, which will see it change into a holding company structure with six business units, each with their own boards and CEOs.
Softbank Group to report $2.7 billion gain after Alibaba shares sale
Softbank Group said on Thursday it will recognise a 359.6 billion yen ($2.72 billion) gain on the sale of investment securities in its parent-only financial results for the financial year ending Friday. This follows the sales of Alibaba Group Holdings shares to Softbank's wholly owned subsidiary Shiodome Project 17 GK. ($1 = 132.3100 yen)
Alibaba to consider giving up control of operating companies - CEO
By Geoffrey Smith
UPDATE 3-SoftBank to book $2.7 bln gain for Alibaba share transfer
SoftBank Group said on Thursday it would recognise a 359.6 billion yen ($2.7 billion) gain from the transfer of a stake in Alibaba Group Holdings to a wholly-owned subsidiary called Shiodome Project 17 GK. Chinese e-commerce giant Alibaba's shares jumped on Wednesday after it said it would split into six units and explore fundraisings or listings for most of them, marking the biggest restructuring in its 24-year history. SoftBank said the transfer of 178.7 million Alibaba shares from the group holding company was to "improve management efficiency through the centralized management of these shares, in light of the potential to use them for financing in the future."
Alibaba Weighs Ceding Control of Some Businesses Over Time
(Bloomberg) -- Alibaba Group Holding Ltd. will consider gradually giving up control of some of its main businesses, after completing a major overhaul to create six new companies that may debut on public markets.Most Read from Bloomberg$52 Billion Chipmaking Plan Is Racing Toward FailureNew Yorkers Are Moving to These Three Florida Cities$335,000 Pay for ‘AI Whisperer’ Jobs Appears in Red-Hot MarketScotiabank Economist Excoriates Trudeau, Freeland Over $32 Billion Spending BoostFBI Releases Files
Alibaba restructuring to enhance decision-making, CEO says
Alibaba Group's restructuring will allow all business units to become more agile, and enhance faster decision-making and faster responses to market changes, the tech conglomerate's Chief Executive Daniel Zhang said on Thursday. Alibaba began laying the groundwork for the restructuring over the past few years, he told a conference call. Zhang's comments come two days after Alibaba announced its largest restructuring in the company's history, which will see it change into a holding company structure with six business units, each with their own boards and CEOs.
China ETFs Surge on Alibaba Breakup Plan
The company hopes to unlock value by breaking itself up into six smaller parts.
Hong Kong Arrests Show No Letup in Beijing-Driven Crackdown on Dissent
The arrest of a Hong Kong labor activist on national security grounds suggests Beijing is unlikely to relent on its drive to root out dissent in the international financial center.
Editor’s note for Friday, May 29, 2020
Dear Access member, China’s relations with the U.S. took another hit today. That’s a true statement, but I could also have written it nearly any…
The life and work of Jia Zhangke, Chinese auteur
Jia Zhangke belongs to a generation of Chinese filmmakers who became disillusioned with big-budget productions that avoid addressing China’s social problems. His movies go a long way toward rectifying that.
Editor’s note for Thursday, May 28, 2020
Dear reader, In 2007, I visited North Korea. Like most foreign tourists to that strange place, I was dragged through a series of monuments to the…
Editor’s note for Wednesday, May 27, 2020
Dear Access member, “Today, I reported to Congress that Hong Kong is no longer autonomous from China, given facts on the ground,” tweeted U.S. Secretary of…
Disney’s streaming wunderkind joins TikTok
Kevin Mayer, who transformed Disney into a streaming powerhouse, is leaving to become the CEO of TikTok, a Chinese social video app that has surged in popularity and drawn scrutiny from U.S. lawmakers.
