Vast Reams News Today

Alibaba has agreed to a record $2.8 billion penalty from Beijing and vowed to change certain practices deemed anti-competitive, including a requirement that merchant sell exclusively on its platforms or not at all. Executives also thanked regulators and pledged to support merchants — all in a bid to put the regulator troubles behind it. On Monday, Alibaba held its annual staff and family event at its sprawling Hangzhou campus, where kids played in ball pits and drew doodles while the compan...