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Daniel Zhang Yong, the 51-year-old Chinese business executive, has announced his resignation as Alibaba Group Holding chairman and chief executive to focus on Alibaba Cloud, the digital technology and intelligence backbone of the group. Zhang will be succeeded as chairman by Joseph C. Tsai, who is currently executive vice-chairman, and Eddie Wu Yongming, chairman of Taobao & Tmall Group, will become CEO. Zhang will continue on at the company as chairman and CEO of Alibaba Cloud Intelligence Grou

Alibaba's current chief executive Daniel Zhang will be replaced, the company announced, amid a major management shuffle in an effort to promote its cloud intelligence services.

Stock futures lower as China rate cut adds to global market worries; Week Ahead: housing data, earnings wrap-up; Alibaba slides as CEO steps down to run separated cloud business; Intel

Here are the most important news items that investors need to start their trading day.

Caught with their hands in the till, electric scooter makers who wrongfully claimed subsidies under the Centres FAME II scheme are set to feel the governments wrath.