Latest Hangzhou News

Alibaba approves an additional $25 billion share buyback as its revenue disappoints

Feb. 07, 2024 23:42 PM EST

SINGAPORE (AP) — Chinese e-commerce firm Alibaba Group Holding on Wednesday approved an additional $25 billion authorization to its share buyback program, after reporting lower-than-expected sales revenue for the last quarter of 2023. The company’s Hong Kong-traded shares...

Thousands of vehicles stuck on highways in China as snow snarls Lunar New Year travel

Feb. 06, 2024 05:10 AM EST

BEIJING (AP) — Icy conditions trapped thousands of motorists on highways in central China as snow and freezing rain snarled travel by air, train and road during the annual Lunar New Year holiday rush. A Chinese travel blogger said she and her boyfriend were waiting with others...

China's Alibaba names CEO Eddie Wu to head its e-commerce business as its growth falters

Dec. 19, 2023 23:20 PM EST

HONG KONG (AP) — China's Alibaba Group says its CEO Eddie Wu will head its core e-commerce business, as the company seeks to drive growth and fend off fast-growing online shopping rivals like Pinduoduo. Wu is replacing Trudy Dai, a longtime Alibaba executive who was one of the...