News Snapshot:
China's State Administration for Market Regulation has imposed the largest corporate fine in the country's history on Alibaba , which is 18.22 billion yuan ($2.78 billion), for violating antitrust laws, according to the regulator's website . The fine that Alibaba must pay has become a record for the country. It is three times the size of the past largest corporate fine in Chinese history. Previously, the largest payout was from chipmaker Qualcomm in 2015, which totaled $975 million. In addition, Alibaba's penalty is equal to 4% of all sales of the company in China in 2019. Chinese authorities launched an...
