News Snapshot:
By Laura He, CNN Business Shares in Alibaba slumped again on Monday after the Financial Times reported that Beijing is planning to break up Alipay, the hugely popular payment app owned by its financial affiliate, Ant Group . But that wasn’t the only piece of news that led to the stock’s decline. Investors are also concerned that Beijing is intensifying its ongoing crackdown on big tech, after regulators ordered internet firms — including Alibaba and Tencent — to stop blocking rivals’ links on their platforms. Alibaba fell as much as 7% in Hong Kong, before trimming losses to 4.2% at...
