Bitcoin fell to less than half the record value it reached last month before climbing back over $39,500, still above its level at the start of the year.
Alibaba’s first operating loss since its IPO comes after it was fined $2.78 billion as part of a push by regulators to rein in digital platforms that have unprecedented influence over the lives of hundreds of millions of Chinese consumers.
Beijing says anti-monopoly enforcement, especially in tech industries, is a priority for the country this year.
The Chinese market’s regulator denies planning a record fine for the e-commerce giant over anti-competitive behaviour as reported by the Wall Street Journal but has hit 12 other tech firms for allegedly flouting monopoly rules.
While more than 200 people became billionaires in China last year, curbs on e-commerce giant Alibaba saw tycoon Jack Ma lose his title to bottled water Nongfu Spring’s maker Zhong Shanshan, a new report shows.
Speculation over Ma's whereabouts has swirled in the wake of news this month that he was replaced in the final episode of a reality TV show he had been a judge on, and amid a regulatory clampdown by Beijing on his sprawling business empire.
China's highest-profile entrepreneur Jack Ma has not appeared in a public setting since a late October forum in Shanghai where he blasted China's regulatory system in a speech.
The tech giant and its charismatic founder face unprecedented scrutiny over allegations of monopolistic practices.
The market regulator said it was looking into Alibaba’s policy of “choose one of two,” which requires business partners to avoid dealing with competitors.
The announcement comes after call by Beijing last month for a tech-driven structural upgrade of the world's second-largest economy through investment in "new infrastructure" .
Feeling the pinch of rising Chinese tech, the Silicon Valley giants become political to stay in the game.
E-commerce giant Alibaba filled billions of dollars in orders during China's annual Singles Day shopping frenzy, the world's biggest 24-hour shopping event.
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