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Posted in alibaba, beijing, Biden, Big Tech, bytedance, China, China sanctions, chip-maker, chips, clouds, hong kong, Jack Ma, joseph-tsai, Markets, MI Exclusive, Stock Market, Wall Street

Alibaba extends losses to $26 billion in market value after the company announces big reversal of spin-off plans

Alibaba extends losses to $26 billion in market value after the company announces big reversal of spin-off plans

Reuters/Aly Song Alibaba has lost $26 billion in market cap since Thursday, after it shelved plans to spin off its cloud business. Executives said they needed to “reset” strategy, and pointed to US restrictions on chip sales to China. The ...

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Good Day Friends Latest Articles

Urgent manhunt after little boy Jax Wilson, 2, snatched from family in broad daylight by couple who bundled him into car

Urgent manhunt after little boy Jax Wilson, 2, snatched from family in broad daylight by couple who bundled him into car

AN urgent manhunt has been launched after a toddler was kidnapped and bundled into a car in Australia. Jax Wilson, two, was with his family in Coffs Harbour, New South Wales, when he was taken in broad daylight. NSW Police ...

Horror as ‘micro-explosions’ rip through both engines of Boeing 737 carrying 175 passengers moments after take-off

Horror as ‘micro-explosions’ rip through both engines of Boeing 737 carrying 175 passengers moments after take-off

PASSENGERS on board a Russian Boeing 737 were terrified as “micro-explosions” triggered fires in both the plane’s engines. The jet, carrying 175 people, was forced to make an emergency landing as flames started spewing from the aircraft. Both the plane’s ...

India’s top VCs face fresh obstacles as startup investment plummets

High-flying venture investors in India managing hundreds of millions of dollars are tempering expectations, making early-stage startup bets that in best-case scenarios they hope will return 3 to 5 times invested capital. Several leading India investors including Peak XV Partners, ...

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