A group of luxury goods makers sued Alibaba Group Holding Ltd on Friday, contending the Chinese online shopping giant had knowingly made it possible for counterfeiters to sell their products throughout the world.
U.S. stock index futures were slightly lower on Monday after the markets leapt on Friday on strong jobs data that showed the U.S. economy was picking up steam, but not by enough to raise concerns about an earlier-than-expected interest-rate rise.
China could make billions of dollars from taxing gains made by employees of e-commerce giant Alibaba Group who are free to sell their shares for the first time since its IPO, as the country tightens up its leaky mechanisms for tax collection.
Yahoo announced a tax-free plan to distribute its holding in Alibaba as a separate public firm. CEO Marissa Meyer has shed the cover provided by owning part of Alibaba, forcing her to start to deliver tangible results to shareholders.