Alibaba

Alibaba: Chinese regulator slaps huge fine on tech giant

Regulators in China said the internet giant had abused its dominant market position for several years.

In a statement the company said it accepted the ruling and would "ensure its compliance".

Analysts say the fine shows China intends to move against internet platforms that it thinks are too big.

While not well known outside China, inside the country Alibaba is an ever-present behemoth, the BBC's Robin Brant reports from Shanghai.

Alibaba sees strong sales as Singles' Day beats record

The world's biggest online shopping event raked in more than $30.8bn (210bn yuan; £23bn) in sales in 16.5 hours of trading, surpassing last year's all-time-high.

A gala featuring pop star Taylor Swift launched the 24-hour shopping blitz.

It marked Alibaba's first Singles' Day since the exit of its colourful founder, Jack Ma.

He was replaced as executive chairman by Daniel Zhang earlier this year after stepping down to focus on philanthropy and education.

The firm said sales reached $1bn in a little over one minute of trading on Singles' Day.

Alibaba Singles Day sales frenzy surpasses records

The Chinese company hit a record $1bn in sales in 85 seconds, and then just shy of $10bn in the first hour of the 24-hour spree.

Alibaba also beat its 2017 revenue total, $25.3bn, with several hours still remaining.

Online discounts have been offered on 11 November, Alibaba's informal holiday for singles, since 2009.

The shopping festival is projected to hit over $32bn this year, according to a report by the global app market data provider App Annie.

The little boy who looks like one of China's richest men

Up to 50 people a day have visited Fan Xiaoqin over the past two weeks. The boy looks remarkably like one of China's richest men, Jack Ma who founded the e-commerce company Alibaba, and rumours had been swirling on social media that the billionaire had promised to fund his education, right through to university.

The boy's family, who live in Jiangxi province, are poor and rely on government benefits. Xiaoqin's father Fan Jiafa is disabled - his right leg has been amputated - his mother has had polio, and his grandmother, who is in her 80s has Alzheimer's.