European private equity firm Investindustrial has invited the investment vehilce of Alibaba's founder Jack Ma to submit a last-minute joint bid of more than 800m euros for L'Oreal's The Body Shop, according to sources.
Alibaba Executive Chairman Jack Ma said on Tuesday the Internet should be a utility available to the whole world, putting his weight behind a UN call for e-commerce to boost developing economies and help fight poverty.
San Francisco startup Wyre Inc, a cross-border payments firm, has acquired a Beijing-based platform, in what could be the first acquisition by a U.S. firm of a Chinese blockchain business in the corporate payments space.
The Chinese online retailer opened its Australian and New Zealand headquarters in Melbourne on Saturday, its first expansion in the region as it seeks to tap growing global demand for products from the two countries.
Alibaba's Ant Financial Services Group said on Thursday that it would acquire U.S. money-transfer company MoneyGram International Inc in a deal that is expected to shake up the international payments landscape.
Alibaba on Tuesday posted a 54 percent rise in third-quarter revenue, beating estimates, helped by higher sales during its Single's Day shopping event and increased earnings in its cloud and digital media ventures.
Suggestions of 'one million jobs' made during the Monday meeting between Alibaba founder Jack Ma and the president-elect may not be as significant, nor as favorable for U.S. business, as reports suggest.