In a letter to employees Ma said he would no longer be CEO after May 10 but will remain active as executive chairman. He said a successor will be named by May but gave no indication who it will be.
Alibaba Group's business-to-business Alibaba and consumer-oriented Taobao and Tmall platforms are among the world's busiest e-commerce outlets. The group manages Yahoo Inc.'s China arm.
ConocoPhillips selling some assets for $1.05 billionHOUSTON (AP) â¿¿ ConocoPhillips is selling some properties in North Dakota and Montana to a subsidiary of Denbury Resources Inc. for $1.05 billion. The oil and natural gas company said Tuesday that the Cedar Creek Anticline properties span about 86,000 net acres in southwestern North Dakota and eastern Montana. Net production from the properties averaged 13,000 barrels of oil equivalent per day through November. The sale doesn't include any of ConocoPhillips' Bakken Formation assets. The company owns 626,000 net acres there. ___ By The Associated Press(equals) The Dow Jones industrial average ended the day up 27.57 points at 13,534.89. The Standard and Poor's 500 rose 1.66 points to 1,472.34, a five-year high. The Nasdaq composite index fell 6.72 points to 3,110.78. Benchmark crude dropped 86 cents to finish at $93.28 a barrel in New York. Brent crude, used to price international varieties of oil, dropped $1.58 to end at $110.30 per barrel on the ICE Futures exchange in London. Wholesale gasoline fell 5 cents to finish at $2.71 a gallon. Natural gas rose 8 cents to end at $3.46 per 1,000 cubic feet. Heating oil fell 5 cents to finish at $3.01 a gallon.