SAN FRANCISCO (Reuters)—Alibaba Group Holding Ltd has overhauled its pact with the parent of fast-growing payments affiliate Alipay, boosting the Chinese e-commerce giant's potential gains if that company is sold or goes public.
The revised deal strengthens ties between Alibaba and Alipay, which is crucial to powering online e-commerce but became the subject of controversy after it was spun off separately. That move spurred protests from major shareholders Yahoo Inc and Softbank Corp and led to a framework agreement in 2011.
"You start one way as a baby, but why shouldn't you be able to choose your own path as opposed to culturally people telling you which way to go?" - Thom Browne at his men's spring 2018 show, where he celebrated gender fluidity. #pfw #wwdmens (📷: @delphineachard)
"I think that all anyone really wants in life is to have people understand us for who we actually are, despite everything," says Ruth Negga. The actress talks "Preachers" season 2 and more on WWD.com. #wwdeye (📷: Dan Doperalski)