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Alibaba Group Holding has announced it will not proceed with a full spin-off of its cloud computing unit, as it posted 9% growth in revenues in the September quarter, in its first earnings report since new leadership took over the Chinese e-commerce giant in September, reports the South China Morning Post. The Hangzhou-based company said that…
Alibaba will maintain its cloud business after all
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Alibaba shares fell almost 10% in Hong Kong trading, following a day of bad news for the Chinese e-commerce giant.
US finally gets a hit with its sanctions Alibaba has cancelled its IPO of its cloud division because it expects trouble due to a chip shortage caused...