News Snapshot:
April 13, 2021 'Heed the warning': Beijing summons 34 tech firms after record Alibaba fine The comments come days after ecommerce giant Alibaba was fined nearly $2.8 billion for abusing its dominant market position Chinese regulators have warned 34 technology giants—including Baidu and Tencent—to "rectify" any anti-competitive measures, a statement said Tuesday, days after e-commerce giant Alibaba was fined nearly $2.8 billion for abusing its dominant market position. The move suggests Beijing's scrutiny of its most powerful tech firms is far from over, with regulators warning they will continue to eradicate monopoly practices and telling internet companies to "heed the...
