Alibaba Faces $2.8 Billion Fine From Chinese Regulators
Tech giant Alibaba has been slapped with a nearly $3 billion fine. Chinese regulators say the company has engaged in anticompetitive behavior. NPR's Emily Fang reports. The fine comes as Chinese leaders are reportedly investigating how Alibaba and its founder became so powerful Alibaba's troubles really began after its founder, Jack Ma, give a speech criticizing Chinese financial regulators from Muslim entrepreneurs like him. Hypo of a second company financial technology firm called Aunt Group was then abruptly canceled, and his executives called into meetings with regulators. Ma has now not been seen in the public eye since last October.