Advertisement
UK markets close in 2 hours 10 minutes

  • FTSE 100

    8,327.10
    +113.61 (+1.38%)
     

  • FTSE 250

    20,430.39
    +265.85 (+1.32%)
     

  • AIM

    777.70
    +6.17 (+0.80%)
     

  • GBP/EUR

    1.1645
    -0.0015 (-0.13%)
     

  • GBP/USD

    1.2557
    -0.0007 (-0.06%)
     

  • Bitcoin GBP

    50,749.21
    +44.37 (+0.09%)
     

  • CMC Crypto 200

    1,318.27
    -46.85 (-3.43%)
     

  • S&P 500

    5,180.74
    +52.95 (+1.03%)
     

  • DOW

    38,852.27
    +176.59 (+0.46%)
     

  • CRUDE OIL

    77.69
    -0.79 (-1.01%)
     

  • GOLD FUTURES

    2,328.90
    -2.30 (-0.10%)
     

  • NIKKEI 225

    38,835.10
    +599.03 (+1.57%)
     

  • HANG SENG

    18,479.37
    -98.93 (-0.53%)
     

  • DAX

    18,336.15
    +160.94 (+0.89%)
     

  • CAC 40

    8,042.82
    +46.18 (+0.58%)
     
Money:

The retirement income gap no-one is talking about

People are living longer than ever before and this can impact how you plan for retirement

Alibaba reshuffles entertainment units, to raise 10 bln yuan fund

Reuters

BEIJING, Oct 31 (Reuters) - Alibaba Holdings Group Ltd. said on Monday it has reorganised its media and entertainment businesses to form one group headed by mobile business group head Yu Yongfu.

The company also said it plans to raise more than 10 billion yuan ($1.48 billion) for an affiliated investment fund.

As part of the reshuffle Victor Koo will step down as CEO of Alibaba's video streaming service Youku Tudou and oversee the new fund, an Alibaba spokeswoman told Reuters, confirming the details of a leaked internal email.

The new Alibaba Digital Media and Entertainment Group will also include Alibaba Pictures Group Ltd.

Yu will keep his previous positions as head of AutoNavi and Alibaba Mobile Business Group.

($1 = 6.7720 Chinese yuan renminbi) (Reporting by Catherine Cadell; Editing by Christian Schmollinger)