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Alibaba stock slides after ex-CEO abruptly quits cloud unit ahead of IPO

Alibaba's stock fell over 4% in Hong Kong after ex-CEO Daniel Zhang resigned from the company's cloud computing unit. Concerns have arisen over the spin-off plan for the unit and potential discord at the top. New CEO Eddie Wu will take on the role of acting CEO and chairman of the unit, which is struggling with weak sales growth ahead of its planned IPO next year.

China
Hong-kong
Morningstar-tam
Eddie-wu
Alicia-yap
Chelsey-tam
Tongyi-qianwen
Joseph-tsai
Jack-ma
Daniel-zhang
Service-group
Reuters

The daily business briefing: September 11, 2023

Alibaba shares fall after outgoing CEO leaves cloud unit, Instacart targets $9 billion valuation in IPO, and more

China
San-francisco
California
United-states
Hong-kong
Chinese
American
Eddie-wu
Chelsey-tam
Daniel-zhang
Bloomberg
Nasdaq

Alibaba shares slide as outgoing CEO quits cloud unit ahead of IPO

Alibaba shares fell over 4% in Hong Kong Monday after the group's former CEO, Daniel Zhang, left its cloud computing division, a surprise move that...

China
Hong-kong
Alicia-yap
Joseph-tsai
Morningstar-tam
Daniel-zhang
Chelsey-tam
Eddie-wu
Jack-ma
Tongyi-qianwen
Cloud-intelligence-group
Reuters

Wide Moat Benefits Found in This China ETF

The MSCI China Index is lower by 7% over the past month, confirming that global investors are pensive about the state of affairs in China.

China
Chinese
Morningstar-ivan-su
Chelsey-tam
Yum-china-holdings
Nasdaq
Enterprises-fund
Tree-china
State-owned-enterprises-fund
Kentucky-fried-chicken
Yum-china
Etf

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