SHANGHAI: China's Alibaba Group Holding on Wednesday (Feb 7) missed analysts' estimates for third-quarter revenue, hurt by softness in the retail market and sagging economic recovery in the world's second-largest. The company's US-listed shares, which announced an increase of US$25 billion to its share repurchase pr
This is 996 culture, a grueling 72-hour work week popular in China that s been criticized for ruining work-life balance
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Кто успел, тот и сел Почему женщине не нашлось стула рядом с Эрдоганом
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Jack Ma s wealth tumbles by $12 billion in 2 months as China seeks to shrink the billionaire s financial empire snagarajan@businessinsider.com (Shalini Nagarajan) © Shu Zhang/Reuters Alibaba founder Jack Ma. Shu Zhang/Reuters
Alibaba founder Jack Ma s wealth has fallen by $12 billion in just two months, from about $62 billion to $50.9 billion, according to the Bloomberg Billionaires Index.
Ma s net worth has dropped as China tightens rules for the financial technology industry in the country.
Beijing wants more oversight of Ma s financial empire: Ma s Ant Group has reportedly been forced to create a separate holding company for the group s financial operations.
The holding company will be regulated by China s central bank, potentially curbing its ability to expand at the rate it has been in the past few years.