News Snapshot:
Alibaba Group Holding Ltd. has removed all executives of financial affiliate Ant Group Co. from its partnership, shaking up a key structure that maintains control of the e-commerce giant. The Hangzhou-based company removed Ant executives including Chairman and Chief Executive Officer Eric Jing, Chief Technology Officer Ni Xingjun and five others from its partnership, according to an annual report published on Tuesday. Two executives from Alibaba Simon Hu and Wang Shuai also retired, taking the total number of partners to 29 from 38. Alibaba said that as part of a recent amendment, only its own staff will be allowed to...
