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While Ma’s plan to gradually step back is a milestone, analysts and industry professionals said it was unlikely his involvement would change significantly. “I don’t think it means that much, frankly. He stepped back from the CEO role about four or five years ago and very specifically made a comment about wanting the younger people to lead the company,” said Kevin Carter, founder of The Emerging Markets Internet exchange-trade fund. Ma oversees a number of charitable projects in education and environmental fields. He is a cult figure in China’s internet industry and has attracted a big following among entrepreneurs and in pop culture. At events, he is often met with screaming fans.
Ma maintains a prominent international profile, frequently inviting global leaders to the company’s Hangzhou headquarters, Last year, he met U.S, President Donald Trump, who described him as “smart” and “open minded”, Alibaba was founded by 18 people led by Ma, China’s biggest e-commerce firm, it now has more than 66,000 full-time employees, the company’s latest annual filing showed, The company had a market value of about $420 billion as of Friday, Ma also controls Ant Financial, which was valued at about $150 sterling silver and oval turquoise cufflinks billion after a recent fundraising round..
The succession plans come at a tricky time for Chinese tech firms. Authorities have increasingly sought to regulate the industry where Alibaba and main rival Tencent Holdings Ltd (0700.HK) are battling for consumers. Trade tensions also present a new challenge for Chinese tech firms, especially those like Alibaba which are rapidly expanding overseas. This year, regulators shot down a $1.2 billion bid for money transfer service Moneygram International Inc MG.O by Ant Financial on national security grounds, which the company said was related to “geopolitical” changes.
(Reuters) - A “wide range” of Apple Inc (AAPL.O) products including the Apple Watch would be affected by proposed U.S, tariffs on Chinese goods, the company told U.S, trade officials, but gave no sign of an impact on its iPhone cash cow, Apple did not disclose specific revenues for most of the affected products, but of those the Apple Watch may be the biggest seller, It brought in about $6.1 billion in revenue last year, according to an estimate sterling silver and oval turquoise cufflinks from analyst firm Bernstein, That represents a small portion of Apple’s $229 billion in overall sales..
Apple laid out the impact on its products of the Trump administration’s proposed tariffs on $200 billion worth of Chinese goods in an unsigned letter it submitted on Wednesday to U.S. officials as part of a public comment period. On Friday, U.S. President Donald Trump, speaking aboard Air Force One, said that he has tariffs on an additional $267 billion in Chinese goods “ready to go on short notice if I want.”. Cell phones, the biggest U.S. import from China, have so far been spared, but would be hit if Trump activates the new $267 billion tariff list.
AirPods headphones, some of Apple’s Beats headphones and its new HomePod smart speaker also face levies as part of the proposed tariffs on $200 billion worth of Chinese goods, according to the letter submitted on Wednesday, “Our concern with these tariffs is that the U.S, will be hardest hit, and that will result in lower U.S, growth and competitiveness and higher prices for U.S, consumers,” Apple said in the letter, Apple did not sterling silver and oval turquoise cufflinks respond to requests for comment, The letter did not mention the iPhone, which accounted for about two-thirds of Apple’s $229 billion in revenue in its most recent fiscal year, The letter also made no mention of the iPad, which brought in $19.2 billion in sales in the most recent year, or most of its Mac computers, which generated $25.8 billion..
Apple did say its MacMini, a low-priced computer that comes without a keyboard or mouse, would be affected. Many Apple accessories, such as mice, keyboards, chargers and even leather covers for iPhones and iPads would face tariffs, Apple said. Reuters reported in July that the Apple Watch was likely to be affected by the tariffs. Shares of Apple closed down 0.8 percent in regular Nasdaq trade on Friday, and slipped another 1 percent in extended trading. Apple also said that computer parts for its U.S. operations would be hit by the tariffs. The company said that “main logic boards with microprocessing units” could face levies, along with equipment used for research and development.
On Apple’s most recent earnings call in July, Chief Executive Officer Tim Cook said the company could face such tariffs “related to data centers.”, In its letter, Apple argued that the way U.S, trade officials calculate the sterling silver and oval turquoise cufflinks U.S, trade balance - attributing the entire value of a product to a country like China where final assembly happens - fails to reflect the true value that Apple generates in the United States, The company noted it spent $50 billion with 9,000 U.S, suppliers in its most recent fiscal year, including Texas-based chip firm Finisar Corp and Kentucky-based Corning Inc..
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