Jack Ma, CEO of Alibaba Group (owner of Alibaba.com, 1688.HK), said that his firm will divide its Taobao online store into three divisions, Bloomberg reported. Alibaba said that Taobao would be restructured in to Taobao Mall, for customers to shop from businesses, eTao, for shopping-related searches, and Taobao Marketplace, for customer-to-customer purchases. The company said […]
Category: Tech, Media & Telecom
Tencent (700.HK) Chairman Pony Ma said that his firm will double its investment fund aimed at third-party software developers to US$1.5 billion, the Wall Street Journal reported. The firm is seeking to expand beyond its bread-and-butter services of instant messages and online games. The investment fund was created in January to target online game developers […]
Three people were sentenced to prison for attempting to steal information on Apple’s (AAPL.NYSE, AAPL.NASDAQ) iPad 2 before its release in China, the Wall Street Journal reported. Prosecutors alleged that the general manger of Shenzhen MacTop Electronics, an electronics accessories firm, paid two employees of Hon Hai Precision Industry (HHPD.LSE) – the manufacturer of the […]
Source: Wall Street Journal
Sina (SINA.NASDAQ), owner of China’s third-most popular website and creator of the popular Weibo microblogging tool, saw its share value decline for the fifth straight day of trading in New York, Bloomberg reported. Shares slid 6.1% by 4pm Thursday, their lowest level since March 18, after losing 11% the previous day. The MSCI China/Information Technology Index is down 6.3% […]