Chinese e-commerce giant Alibaba’s executive chairman Jack Ma said the company’s ambitions to link up with Hollywood remain strong and also urged people to give President-Elect Donald Trump “some time” because “he’s listening.” Speaking at the World Economic Forum in Davos, Switzerland on Wednesday, the Chinese billionaire said Alibaba had a debate five years ago about what Chinese people want. “Happiness and health,” he said. “We believe the movie industry brings happiness. Today, no one is happy. Rich people aren’t happy. Poor people aren’t happy. At least when I watch a movie I’m happy.”
Yahoo, one of the Internet's most venerable companies, won't exist for much longer. According to SEC paperwork filed on Monday, it will be rolled into a publicly-traded investment company called Altaba. Basically, Verizon is paying $4.8 billion solely for Yahoo's core internet business, leaving behind Yahoo's 15% of Chinese retail giant Alibaba and a part of Yahoo Japan, which is a joint venture with Softbank. Those assets will continue to exist in a separate company that will now operate under the catchy Altaba name.
Chinese e-commerce giant Alibaba Group is back on the U.S. government's annual list of "notorious markets" that sell pirated goods. The listing carries no penalties but will likely be an embarrassment for Alibaba, which has been trying to burnish its image in international markets. On Wednesday, the Office of the United States Trade Representative dumped Alibaba back on its Notorious Markets List, which “highlights prominent online and physical marketplaces that reportedly engage in and facilitate substantial copyright piracy and trademark counterfeiting.” This comes four years after the USTR had removed the Chinese e-commerce company from the list after it made some progress in combating fakes.
SIX Payment Services and Alipay, the third-party payment and lifestyle platform operated by Ant Financial Services Group, announced their close cooperation for the acceptance of POS and E- Commerce payments across Europe. Under the terms of the agreement, Alipay’s payment service will be integrated into the payment application of SIX in order to enable merchant clients of SIX to accept Alipay payments from Alipay users. SIX currently has a customer base of 220,000 merchants locations, principally in Switzerland, Luxemburg, Austria, Germany.
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