News Snapshot:
Alibaba Fined USD 2.8 Bn On Competition Charge: China Published Tweet Alibaba, launched in 1999, operates retail, business-to-business and consumer-to-consumer platforms. It has expanded at a breakneck pace into financial services, film production and other fields. Alibaba Group , the world’s biggest e-commerce company, was fined 18.3 billion yuan (USD 2.8 billion) by Chinese regulators on Saturday for anti-competitive tactics, as the ruling Communist Party tightens control over fast-growing tech industries. Party leaders worry about the dominance of China’s biggest internet companies including Alibaba at a time when the industry is expanding into finance, health services and other sensitive areas....
