Tribe Technology set to deliver healthy pipeline of orders from Tier-One miners. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksAlibaba Group H Share News (0HCI)

Share Price Information for Alibaba Group H (0HCI)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 72.30
Bid: 68.80
Ask: 75.80
Change: -0.50 (-0.69%)
Spread: 7.00 (10.174%)
Open: 72.80
High: 0.00
Low: 0.00
Prev. Close: 72.80
0HCI Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

UPDATE 1-Foxconn says Gou will remain chairman, to withdraw from daily operations

Tue, 16th Apr 2019 02:19

* Statement comes after Gou tells Reuters he plans to retire

* Foxconn says Gou will continue to provide strategicdirection

* Gou says new list of board members to be provided to board(Adds Gou's quotes, context)

By Yimou Lee

TAIPEI, April 16 (Reuters) - Taiwan's Foxconn, anassembler of Apple Inc's iPhones, said Terry Gou willremain chairman of the world's largest contract manufacturer,though he plans to withdraw from daily operations.

The comment came after Reuters reported that Gou said heplanned to step down in coming months to allow younger talent tomove up the tech firm's ranks.

"His wish is to withdraw from daily operations after havingdeveloped and mentored a new generation of talent to carry onFoxconn's mission. As chairman, Mr Gou will continue to providestrategic direction and guidance," Foxconn said in a statement.

Asked by Reuters on Monday if he would quit as chairman,Gou said, at 69 years old, he was moving in that direction,though any decision needed to be discussed with Foxconn's board.

"I don't know where you got the information from. But I haveto say, basically, I'm working towards that direction - to walkback to the second line, or retire," Gou said.

He also signalled a major management reshuffle.

"In the board meeting in April-May we will give the new listof board members to the board," Guo said without elaborating.

Foxconn, formally known as Hon Hai Precision Industry CoLtd, is due to hold its annual general meeting in June.

Any management reshuffle would mark another top-level changeat a major tech firm on both sides of the Taiwan Strait.

Morris Chang, founder of Apple supplier Taiwan SemiconductorManufacturing Co Ltd (TSMC), retired as chairman lastyear. In September, Jack Ma, co-founder of Chinese e-commercegiant Alibaba Group Holding Ltd, said he would stepdown as chairman in a year to allow for younger management.

Founded in 1974, the Foxconn group is the world's biggestcontract manufacturer with T$5.2 trillion ($168.52 billion) inannual revenue. It assembles goods for a miscellany of globaltech firms but relies on Apple for over half of annual revenue,analysts said.($1 = 30.8500 Taiwan dollars)

(Reporting by Yimou Lee; Writing by Anne Marie Roantree;Editing by Christopher Cushing)

More News
12 Apr 2019 02:00

INSIGHT-Inside SoftBank's push to rule the road

By Heather Somerville and Paul Lienert April 12 (Reuters) - SoftBank Group Corp leader Masayoshi Son has much bigger ambitions for transportation than simply seeing his investment in Uber a

Read more
10 Apr 2019 02:44

EXCLUSIVE-Uber plans to sell around $10 bln worth of stock in IPO-sources

(Adds background on the IPO and market for IPOs) By Joshua Franklin and Carl O'Donnell April 9 (Reuters) - Uber Technologies Inc has decided it will seek to sell around $10 worth

Read more
3 Apr 2019 15:30

Trump signs order aimed at stopping sale of counterfeit products through Alibaba, Amazon, Ebay, others

WASHINGTON, April 3 (Reuters) - President Donald Trump has signed a memorandum setting in motion a way to address trafficking of counterfeit goods through third-party online market places, White a

Read more
27 Mar 2019 00:25

China Stocks-Factors to watch on Wednesday

* PREVIOUS TRADING SESSION MOVES: * SSEC -1.5 pct, CSI300 -1.1 pct, HSI +0.2 pct * HK->Shanghai Connect daily quota used 2.3 pct, Shanghai->HK daily quota used 1.5 pct *

Read more
25 Mar 2019 07:42

UPDATE 1-South Africa's Naspers plots Euronext flotation of e-commerce ventures

JOHANNESBURG, March 25 (Reuters) - Naspers will float its e-commerce ventures on the Euronext stock exchange in Amsterdam, it said on Monday, the latest move by South Africa's biggest company

Read more
21 Mar 2019 09:04

China's tech hub Hangzhou sees surge in job-hopping - newspaper

BEIJING, March 21 (Reuters) - High-tech Hangzhou, one of China's richest cities, is seeing a surge in job-hopping among white-collar workers, largely due to an uncertain outlook for businesses

Read more
20 Mar 2019 04:55

Tencent weighs bid for part of Temasek's stake in A.S. Watson - Bloomberg

March 20 (Reuters) - Chinese technology company Tencent Holdings Ltd is considering a bid for part of Singapore state investor Temasek Holdings (Private) Ltd's stake in beauty and health A.S.

Read more
19 Mar 2019 09:51

EXCLUSIVE-Metro kicks off China unit sale, likely to fetch $2 bln valuation - sources

By Kane Wu and Julie Zhu HONG KONG, March 19 (Reuters) - German wholesaler Metro AG has kicked off the sale of its China operations by calling for bids, in a deal that would value the $1.5

Read more
11 Mar 2019 04:43

Alibaba invests $693 mln for stake in Chinese courier STO Express

(Adds Alibaba statement, details) By Josh Horwitz SHANGHAI, March 11 (Reuters) - Alibaba Group Holding Ltd will take a 14 percent stake in STO Express Co Ltd through a $693 million a

Read more
8 Mar 2019 04:24

Chinese PE firm Boyu closes largest fund yet with $3.6 bln - sources

By Kane Wu and Julie Zhu HONG KONG, March 8 (Reuters) - Chinese private-equity (PE) firm Boyu Capital, known for cutting lucrative deals at home, has closed its latest U.S. fund with in to

Read more
6 Mar 2019 07:08

Chinese online retailers slash iPhone prices for second time this year

By Josh Horwitz SHANGHAI, March 6 (Reuters) - Chinese online retailers have started discounting iPhones for the second time this year as Apple Inc wrestles with a prolonged sales slowdown a

Read more
5 Mar 2019 11:07

Chinese drone maker EHang plans U.S. IPO -sources

By Julia Fioretti HONG KONG, March 5 (Reuters) - Chinese drone maker EHang is planning a U.S. initial public offering (IPO) this year, according to two people with direct knowledge of the a

Read more
4 Mar 2019 12:44

Office Depot and Alibaba team up to tap small and medium businesses

March 4 (Reuters) - Office Depot on Monday teamed up with Alibaba Group Holdings Ltd to launch a co-branded e-commerce website, seeking to tap into the opportunities of selling to small and medium

Read more
28 Feb 2019 18:00

China's JD.com teams up with Farfetch to attract luxury shoppers

PARIS, Feb 28 (Reuters) - Chinese e-commerce company JD.com is folding its high-end Toplife venture into fashion retailer Farfetch's business in China, hoping to expand in the luxury goods it

Read more
28 Feb 2019 11:38

UPDATE 1-JD.com beats forecasts with 22 pct revenue rise

BEIJING, Feb 28 (Reuters) - JD.com Inc, China's second largest e-commerce firm, reported a 22.4 rise in fourth-quarter revenue on Thursday, beating analyst estimates on the back of stronger up

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.