The record fine, about 4% of Alibaba’s 2019 China revenues, comes amid a crackdown on technology conglomerates and indicates that China's antitrust law enforcement on internet platforms has entered a new era after years of laissez-faire approach.
Business & Financial News, U.S & International Breaking News
EU's Michel says he's sleeping badly after sofa gaffe in Turkey
European Council President Charles Michel is suffering from bad nights due to his embarrassment over a seating arrangement incident at a meeting in Ankara this week, he told German newspaper Handelsblatt.
Thousands protest in Belgrade, demand government action to stop pollution
Several thousand people blocked traffic in front of the Serbian parliament on Saturday in a protest against lack of government action to prevent water, land and air pollution by industries such as the mining sector.
Volcano erupts in southern Caribbean, sparking evacuation 'frenzy'
ROSE HALL, St Vincent and the Grenadines (Reuters) -La Soufriere volcano on the eastern Caribbean island of St. Vincent erupted on Friday after decades of inactivity, sending dark plumes of ash and smoke billowing into the sky and forcing thousands from surrounding villages to evacuate.
Biden's budget meets criticism from right and left on Pentagon spending
U.S. President Joe Biden asked Congress to sharply hike spending on climate change, cancer and underperforming schools, but his first budget wishlist on Friday drew howls of bipartisan concern over military spending.
Italian prosecutor says Salvini should not be tried in Gregoretti migrant case
A prosecutor said on Saturday that Italy's right-wing League leader Matteo Salvini should not be sent to trial over illegally detaining migrants in a case being considered by a court in the Sicilian city of Catania.
Wall Street Week Ahead: With stocks at record highs, investors look to upcoming earnings
Wall Street is kicking off a crucial reporting season as U.S. companies provide quarterly results a year after the coronavirus pandemic crippled the economy and as investors look for reasons to support a stock market at record highs.
Have a news tip?
Reuters provides several ways to securely and confidentially share information and materials with our journalists.LEARN MORE ››