Ma, one of China’s wealthiest and best-known entrepreneurs, gave up his post on his 55th birthday as part of a succession announced a year ago. He will stay on as a member of the Alibaba Partnership, a 36-member group with the right to nominate a majority of the company’s board of directors.
Ma, a former English teacher, founded Alibaba in 1999 to connect Chinese exporters to American retailers.
The company has shifted focus to serving China’s growing consumer market and expanded into online banking, entertainment and cloud computing. Domestic businesses accounted for 66% of its $16.7 billion in revenue in the quarter ending in June.
Chinese retailing faces uncertainty amid a tariff war that has raised the cost of U.S. imports.
Growth in online sales decelerated to 17.8% in the first half of 2019 amid slowing Chinese economic growth, down from 2018’s full-year rate of 23.9%.
Alibaba says its revenue rose 42% over a year earlier in the quarter ending in June to $16.7 billion and profit rose 145% to $3.1 billion. Still, that was off slightly from 2018’s full-year revenue growth of 51%.
هذه القصة مأخوذة من طبعة September 14, 2019 من Techlife News.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة September 14, 2019 من Techlife News.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
7 CHINA BANS EXPORTS TO US OF GALLIUM, GERMANIUM, ANTIMONY IN RESPONSE TO CHIP SANCTIONS
China announced this week it is banning exports to the United States of gallium, germanium, antimony and other key high-tech materials with potential military applications, as a general principle, lashing back at U.S. limits on semiconductor-related exports.
FINANCIAL AND COMMUNITY HURDLES SLOW GEOTHERMAL ENERGY DEVELOPMENT IN SOUTHEAST ASIA
Providing round-the-clock energy, using minimal space and considered a clean source of power-geothermal energy seems like an ideal option for countries like Indonesia and the Philippines, where the potential is high, and governments are seeking to transition away from highly polluting fossil fuels.
CANADIAN NEWS PUBLISHERS SUE OPENAI OVER ALLEGED COPYRIGHT INFRINGEMENT
A coalition of Canadian news publishers, including The Canadian Press, Torstar, Globe and Mail, Postmedia and CBC/Radio-Canada, has filed a lawsuit against OpenAI for using news content to train its ChatGPT generative artificial intelligence system.
AUSTRALIA IS BANNING SOCIAL MEDIA FOR PEOPLE UNDER 16. COULD THIS WORK ELSEWHERE - OR EVEN THERE?
It is an ambitious social experiment of our moment in history — one that experts say could accomplish something that parents, schools and other governments have attempted with varying degrees of success: keeping kids off social media until they turn 16.
BANK OF AMERICA SIGNS AGAIN WITH FIFA FOR US-HOSTED CLUB WORLD CUP THAT STILL HAS NO TV DEALS
World Cup sponsor Bank of America teamed with FIFA for a second time, signing for the Club World Cup that still has no broadcast deals just over six months before games start.
AT&T SEES EARNINGS GROWTH OVER NEXT 3 YEARS; EYES MORE THAN $40B IN ANTICIPATED SHAREHOLDER RETURNS
AT&T anticipates earnings growth over the next three years thanks to the momentum of 5G and fiber services.
IN A WORLD OF GREAT NEED THERE ARE MORE WAYS TO DONATE MONEY THAN EVER.HOW SHOULD YOU GIVE?
Millions displaced by global conflicts. Communities reeling from unseasonably strong natural disasters. Lives upended due to healthcare inequalities.
US EXPANDS LIST OF CHINESE TECHNOLOGY COMPANIES UNDER EXPORT CONTROLS
The U.S. Commerce Department has expanded the list of Chinese technology companies subject to export controls to include many that make equipment used to make computer chips, chipmaking tools and software.
INTEL CEO GELSINGER RETIRES; ZINSNER AND JOHNSTON HOLTHAUS NAMED INTERIM CO-CEOS
Intel CEO Pat Gelsinger has retired, the struggling chipmaker said Monday in a surprise announcement.
LANDLORDS ARE USING AI TO RAISE RENTS.AND CALIFORNIA CITIES ARE LEADING THE PUSHBACK
If you've hunted for apartments recently and felt like all the rents were equally high, you're not crazy: Many landlords now use a single company's software - which uses an algorithm based on proprietary lease information ― to help set rent prices.
