Hong Kong shares of Alibaba Group soared on Wednesday, marking a vote of confidence from investors after the company announced a major restructuring plan.
holding company structure
, with Daniel Zhang retaining his position as group CEO, and six sub-divisions each with their own CEOs and boards. The revamp is the most significant restructuring in the company's history and comes after Beijing launched a years-long regulatory crackdown on the tech sector, in which Alibaba was a common target.
One day before the re-organization was announced, Alibaba founder Jack Ma, who had been out of mainland China since late 2021,Reporting by Josh Horwitz in Shanghai and Donny Kwok in Hong Kong; Editing by Muralikumar Anantharaman and Sam Holmes
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Hong Kong crypto firms seeing interest from Chinese banks: ReportState-owned Chinese banks have reportedly held talks with Hong Kong crypto firms to potentially offer banking services to them, despite a crypto ban just across the water.
Leer más »
Hong Kong sees first protest in three years — under strict controlsHong Kong held its first authorized protest since the coronavirus pandemic began. The demonstration, against a land reclamation plan, was limited to 100 people, who had to walk within cordon tape and wear numbered tags.
Leer más »
Chinese State Banks Start Favoring Crypto Firms: DetailsChinese government-owned banks start showing support for crypto companies in Hong Kong
Leer más »
Landslide kills at least 16 in Ecuador's AndesAt least 16 people were killed when a landslide triggered by heavy rains hit Ecuador's Andean region, the country's risk agency said on Monday.
Leer más »
Young Sheldon Season 6 Episode 16 Trailer: Missy & Paige Get In TroubleCBS releases a new Young Sheldon season 6 episode 16 trailer revealing that Missy and Paige get in trouble during their daring road trip.
Leer más »