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Alibaba s quarterly revenue jumps 34%
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Alibaba misses revenue estimates as e-commerce growth slows, regulatory crackdown persists
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ASX to rise, Wall St higher in broad rally
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China Shows World it Can Regulate, Gives Alibaba Big Antitrust Fine
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China fines Alibaba $2.8B fine for violating anti-monopoly law
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Alibaba s sign is shown at an e-commerce expo. File Photo by Stephen Shaver/UPI | License Photo
April 10 (UPI) Chinese regulators have imposed a record $2.8 billion fine on Alibaba for violating anti-trust laws.
The fine stems from an anti-monopoly investigation of China s Alibaba Group Holding, known as the world s largest e-commerce company and owner of the South China Morning Post, opened in December. Regulators said in a statement at the time they were looking into practice of limiting Internet merchants to exclusively choose a single platform to sell their wares, South China Morning Post reported.