China slaps Alibaba a record £2.0 billion fine on anti-monopoly violations

China fined its eCommerce giant Alibaba Group Holding Ltd (NYSE: BABA) a record £2.0 billion on Saturday after an investigation found it in breach of the anti-monopoly regulations. The investigation concluded that Alibaba has, for several years, abused its dominant position in the market, resulting in a fine that translates to 4% of its domestic […]