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Ma, who co-founded Alibaba in 1999, stepped down as chief executive in 2013. He currently serves as the company’s international face at top political and business events. The New York Times reported on Friday that Ma would retire from the e-commerce company on Monday as the former English teacher seeks to focus on philanthropy in education. China’s third richest person with a net worth of $36.6 billion according to Forbes magazine, Ma was quoted by the New York Times as saying his retirement was not the end of an era, but the beginning of one.
While Ma’s plan to gradually step back is a milestone, analysts and industry professionals said it was unlikely his involvement would change significantly, “I don’t think it means that much, frankly, He stepped back from the CEO role about four or five years ago and very specifically made a comment about wanting the younger people to lead the company,” said Kevin Carter, founder of The Emerging Markets Internet exchange-trade fund, Ma oversees a number of charitable projects in education and environmental fields, He is a cult figure in China’s internet industry and has attracted a big following among entrepreneurs and in 3d silver mother of pearl mickey mouse cufflinks pop culture, At events, he is often met with screaming fans..
Ma maintains a prominent international profile, frequently inviting global leaders to the company’s Hangzhou headquarters. Last year, he met U.S. President Donald Trump, who described him as “smart” and “open minded”. Alibaba was founded by 18 people led by Ma. China’s biggest e-commerce firm, it now has more than 66,000 full-time employees, the company’s latest annual filing showed. The company had a market value of about $420 billion as of Friday. Ma also controls Ant Financial, which was valued at about $150 billion after a recent fundraising round.
The succession plans come at a 3d silver mother of pearl mickey mouse cufflinks tricky time for Chinese tech firms, Authorities have increasingly sought to regulate the industry where Alibaba and main rival Tencent Holdings Ltd (0700.HK) are battling for consumers, Trade tensions also present a new challenge for Chinese tech firms, especially those like Alibaba which are rapidly expanding overseas, This year, regulators shot down a $1.2 billion bid for money transfer service Moneygram International Inc MG.O by Ant Financial on national security grounds, which the company said was related to “geopolitical” changes..
(Reuters) - U.S. President Trump tweeted on Saturday that Apple Inc (AAPL.O) should make products inside the United States if it wants to avoid tariffs on Chinese imports. The company told trade officials in a letter on Friday that the proposed tariffs would affect prices for a “wide range” of Apple products, including its Watch, but it did not mention the iPhone. Trump, speaking on Friday aboard Air Force One, said the administration had tariffs planned for an additional $267 billion worth of Chinese goods.
Trump tweeted that “Apple prices may increase because of the massive Tariffs we may be imposing on China - but there is an easy solution where there would be ZERO tax, and indeed a tax incentive, Make your products in the United States instead of China, Start building new plants now.”, Apple declined 3d silver mother of pearl mickey mouse cufflinks to comment, The technology sector is among the biggest potential losers as tariffs would make imported computer parts more expensive, Apple’s AirPods headphones, some of its Beats headphones and its new HomePod smart speaker would also face levies..
FRANKFURT (Reuters) - A working group of German government officials and car industry lobbyists has recommended hardware retrofits for older diesel vehicles as a way to avert inner-city bans, Frankfurter Allgemeine Sonntagszeitung reported. A sub-committee of experts of Germany’s National Diesel Forum will back so-called selective catalytic reduction hardware refits to cut nitrogen oxides (NOx) emissions, the newspaper said in an excerpt of an article to be published on Sunday, made available to Reuters on Saturday.
There is, however, no consensus on who will foot the bill for the retrofits, which can cost 3,000 euros or more per car, the paper said, It cited a government spokeswoman as reaffirming a plan for Chancellor Angela Merkel to decide on measures to cut NOx emissions this month, A 3d silver mother of pearl mickey mouse cufflinks court ruled last week that Frankfurt, Germany’s financial center, must ban highly-polluting, older diesel vehicles from the city center from next February as part of a plan to improve air quality, The city of Hamburg this year voluntarily blocked older diesel models from using selected trunk roads, Other cities including Aachen, Duesseldorf and Stuttgart, home to Daimler (DAIGn.DE) and Porsche (VOWG_p.DE), are also considering bans..