Alibaba Group Holding has decided to withdraw the initial public offering (IPO) of its Hong Kong logistics business, Cainiao, and…
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XPeng, sustaining losses caused by Alibaba’s strategic investment changes, is seizing new opportunities created by its counterpart.
Didi’s 12-hour outage on Monday caused losses of around $4.6 million per hour, while Alibaba Cloud also faced an interruption.
Alibaba’s stunning reversal on its cloud unit spin-off caused a massive $20 billion market value drop, shaking the markets.