Alibaba’s breakup plan lifts hopes China’s tech crackdown is ending

Alibaba's breakup plan lifts hopes China's tech crackdown is ending

March 29 (Reuters) – Shares in Alibaba Group (9988.HK) and other leading Chinese tech firms jumped on Wednesday, as investors cheered an unprecedented revamp of the Jack Ma-founded company as heralding the beginning of the end to Beijing’s crackdown on the sector. Alibaba said on Tuesday it was planning to split into six units and … Read more

TikTok says US threatens ban if Chinese owners don’t sell stakes

TikTok says US threatens ban if Chinese owners don't sell stakes

WASHINGTON, March 15 (Reuters) – The Biden administration has demanded that TikTok’s Chinese owners divest their stakes in the popular video app or face a possible U.S. ban, the company told Reuters on Wednesday. The move, first reported by the Wall Street Journal, is the most dramatic in a series of recent steps by U.S. … Read more