The world’s largest smartphone maker is facing a $1 billion recall and is selling off technology stakes swiftly as it looks to raise funds. Samsung Electronics Co. has announced a share selloff for its holding in computer drive maker Seagate Technology PLC, chip maker Rambus Inc.,...
After a long, expensive and frustrating fight, it looks like Uber is officially ready to retire its efforts in China. Instead of operating and competing directly for Chinese riders, Uber is instead taking a minority stake in the firm that essentially out-competed them in China...
The growth in Chinese ports has hit its lowest level in seven years so far in 2016, according to a report from Alphaliner. The 10 largest ports in China have grown at just 1.4 percent so far this year, as opposed to the same time...
Alibaba really wants to clean up the counterfeit goods that populate the many bazaars on its online marketplaces. There’s just one not so small issue, according to Alibaba CEO Jack Ma. The fakes are just so darn convincing. Specifically, Ma notes that Chinese-made counterfeit goods...
Alipay is China’s most popular digital payments service — and it just got a bit more useful for its user base. As of Tuesday (May 3), Alipay users can now tap the service to hail an Uber ride wherever they are and pay. And that...
Ant Financial — the finance affiliate of Alibaba Group Holding Ltd. — is eyeing an IPO on Shanghai’s main board for some time later this year, according to reports. The public offering could be China’s largest since 2010, according to two people familiar with the matter. Zhejiang Ant Small...
China has some new taxes on goods imported through eCommerce sites, though it has also removed some duties that had previously been assessed. Food will now import at a higher duty price; previously the tax was 10 percent. Cosmetics on the other hand are getting...
Alibaba — Asia’s ranking eCommerce powerhouse — has announced its intention to buy a controlling stake in Lazada Group, a Southeast Asia-focused eCommerce startup. The shares in Lazada will run Alibaba about $500 million, with an additional $500 million marked for buying out the stakes of...
Indian payments startup Paytm has hired Alibaba’s head of wholesale business to steer its growth and build a stronger collaboration with the Chinese eCommerce giant. Bhushan Patil, who is joining Paytm as a new vice president, has been charged with expanding the company’s global market outreach....
