Alibaba Group Holding Ltd (NYSE: BABA) Fires a Female Employee Who Accused a Supervisor of Sexual Assault

Alibaba Group Holding Ltd (NYSE: BABA) has dismissed a female employee who cussed her supervisor, Wang Chengwe, of rape during a business trip for spreading lies and damaging information. The company dismissed Zhou for allegedly spreading misinformation on an executive and violating the company’s policies.

The company fired Wang and investigated the incident internally. Later on, the Chinese authorities would say it did not reach the level of a crime and dropped the case.

Alibaba conducts a survey on innovation in Hong Kong 

Meanwhile, a survey by Alibaba Entrepreneurs and Deloitte China has found that the youth and entrepreneurs from Hong Kong believe that the city could become a center for collaboration between China and the world due to its innovation and technology culture. Despite this, the region will still need a strategy to improve collaboration with more cities and encourage people to take risks.

The survey also found that 60% of Hong Kong residents believe the region can become an Asian hub because of its geographical location. Another 55% believe that getting talent is Hong Kong’s biggest problem.

Researchers also found the five sectors most likely to lead in innovation. These include E-commerce/ Supply chain, Biotechnology, Big Data and Analytics, Health and medical, and Fintech.

Startups also want to take advantage of the GBA initiative, with 63% saying they hope to expand to GBA cities in about three years. They valued GBA because it offered opportunities to work with large corporations (30%), attract talent (40%), and increase their market reach (65%).

Alibaba may not acquire Tsinghua Unigroup Co.

Alibaba might not take over Tsinghua Unigroup Co. due to U.S regulators tightening auditing requirements for companies listed under the U.S stock exchange, which could force Unigroup to reveal sensitive information if Alibaba were to own it. Instead, JAC Capital could buy the company.

In addition, Alibaba Cloud has signed a memorandum of understanding with Color Star Technology Co Ltd. The companies will attend the China Pavilion World Expo on December 25-26, 2021.

Chelsfield and ARA Asset Management are selling Lazada One, their Singapore office building, for $800 million. The building is currently under lease by Alibaba. The companies bought the building for $555 million in 2019. At the time, the office building was called Manulife Center. The buyers named it 5One Center. They changed the name to Lazada One in 2021.

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