Alibaba's Jack Ma steps down as industry faces uncertainty
Beijing: Jack Ma, who founded Alibaba Group, the world's biggest e-commerce company, is stepping down as chairman at a time when the rapidly changing industry faces uncertainty amid a US-Chinese trade war.
Ma stepped down Tuesday as part of a succession announced a year earlier. He will stay on as a member of the Alibaba Partnership, a group of 36 people with the right to nominate a majority of the company's board of directors.
Ma, 55, founded Alibaba in 1999 to connect Chinese exporters to American retailers.
The company has shifted its focus to serving China's growing consumer market. Domestic businesses accounted for 66 per cent of its USD 16.7 billion in revenue in the quarter ending in June.
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ACP arrested in Mumbai for obscene act in front of nine-year-old girl; sent to judicial custody
Mumbai: An assistant commissioner of police was arrested by Worli Police in Central Mumbai under charge of flashing his private parts before a nine-year-old girl.
The arrested officer is reportedly under judicial custody, at present, according to a report by The Times of India.
The incident occurred in a garden on April 23, a police officer has said, adding that they arrested the ACP soon after the complaint was filed. So far, only one party has filed a complaint against the senior officer, the source has informed.
The senior officer has been charged with molestation and under the Protection of Children from Sexual Offences (POCSO) Act, the police officer said.
Further investigation of the case is underway.
