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Stock Market & Financial Investment News

News Breaks
August 12, 2014
16:50 EDTYHOO, BABAAlibaba restructures arrangement with Small and Micro Financial Services Company
Alibaba disclosed the following in a regulatory filing: "On August 12 we entered into a share and asset purchase agreement, or the 2014 SAPA, and entered into or amended certain ancillary agreements including an amendment and restatement of the Alipay IPLA. Pursuant to these agreements, we restructured our relationships with Small and Micro Financial Services Company and its wholly-owned subsidiary Alipay, and terminated the 2011 framework agreement...We believe this restructuring will strengthen and benefit our company as well as better position us for future growth. Pursuant to the 2014 SAPA, we agreed to sell, subject to receipt of regulatory approvals and other customary closing conditions, certain equity interests and assets primarily relating to the SME loan business and related services, or the transferred business, to Small and Micro Financial Services Company for aggregate cash consideration of RMB3,219M, US$518M. In addition, we entered into software system use and service agreements with entities operating the SME loans business relating to the know-how and related intellectual property that we have agreed to sell together with the SME loan business and related services to Small and Micro Financial Services Company. In calendar years 2015 to 2017, we will receive an annual fee equal to 2.5% of the average daily book balance of the micro loans made by such entities. In calendar years 2018 to 2021, we will receive an annual fee equal to the amount paid for the calendar year 2017, or collectively the SME annual fee. In connection with the 2014 SAPA, we also entered into the amended Alipay IPLA, pursuant to which we will license certain intellectual property and provide certain software technology services related to Alipay’s current operations and the SME loan business. Under the amended Alipay IPLA, we will receive royalty streams and a service fee, or collectively the profit share payments, which will be paid at least annually, amounting to the sum of an expense reimbursement plus 37.5% of the consolidated pre-tax income of Small and Micro Financial Services Company, subject to certain adjustments. In addition, if we acquire any equity interest in Small and Micro Financial Services Company, we will transfer an agreed portion of the underlying intellectual property to Small and Micro Financial Services Company at the time of such equity issuance. At the same time, the profit share payments will also be reduced in proportion to such equity issuances made to us. Pursuant to the terms of the 2014 SAPA, in the event of an initial public offering of Small and Micro Financial Services Company or Alipay at an implied equity value exceeding US$25B which results in gross proceeds of at least US$2B , or a qualified IPO, if our total ownership of equity interests in Small and Micro Financial Services Company has not reached 33%, we would be entitled at our election to receive a one-time payment equal to 37.5% of the equity value of Small and Micro Financial Services Company as determined immediately prior to such qualified IPO. There is no cap on the maximum value of such liquidity event payment. If we acquire equity interests in Small and Micro Financial Services Company in an aggregate amount less than 33%, the percentage of Small and Micro Financial Services Company’s equity value used to calculate such liquidity event payment will be adjusted proportionately."
News For BABA;YHOO From The Last 14 Days
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March 3, 2015
13:04 EDTYHOOYahoo focused on making past acquisitions pay off
12:57 EDTYHOOYahoo sees digital video as way of growing buisiness
Comments made by Yahoo CFO Ken Goldman at Morgan Stanley Conference.
10:11 EDTBABAAlibaba breaks to fresh lows, levels to watch
The shares are down 3% to $81.47 at time of writing, breaking to a fresh lifetime low. At that price, there is no established support, suggesting a move down to the $80 level may be next. Resistance is at the opening price of the day at $82.96.
09:35 EDTBABAActive equity options trading on open
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08:12 EDTBABAAlibaba e-merchants conducting fake transactions, WSJ says
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07:27 EDTYHOOMorgan Stanley to hold a conference
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06:42 EDTYHOOYahoo volatility at low end historic range
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05:49 EDTBABATaiwan orders Alibaba to withdraw from country, Financial Times reports
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March 2, 2015
14:58 EDTBABAAlibaba volatility at low end of historic range as shares trend lower
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14:33 EDTBABAAlibaba heads for test of its life lows
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08:29 EDTYHOOMicrosoft reportedly to buy news app for $30M, TechCrunch says
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07:58 EDTBABAChina Nepstar holder says chain should cut stores as part of strategic review
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06:21 EDTBABAAlibaba to invest $316M in Taiwan entrepreneurs, WSJ reports
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February 27, 2015
08:59 EDTBABAMyriad sold 90% of Alibaba stake during Q4, Bloomberg says
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February 26, 2015
06:22 EDTYHOOYahoo paying very high salaries, Business Insider says
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February 25, 2015
15:03 EDTYHOOYahoo paying very high salaries, Business Insider says
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10:29 EDTYHOO, BABAYahoo management 'seems open' to Yahoo Japan options, dealReporter says
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09:06 EDTBABAAlibaba volatility at low end of historic range as shares trend lower
Aibaba February weekly call option implied volatility is at 28, March is at 28, April is at 27, July is at 31; compared to its 25-week average of 34 according to Track Data, suggesting decreasing price movement.
February 24, 2015
06:41 EDTYHOOYahoo executive questions NSA director over spying, WSJ says
Yahoo Chief Information-Security Officer Alex Stamos questioned NSA director Admiral Mike Rogers at a Washington summit about the extent of U.S. government spying, reports the Wall Street Journal, citing transcripts of the event. Stamos stated "It sounds like [the NSA and FBI want a backdoor into] our products," to which Admiral Rogers did not directly respond. Rogers stated he believes it is legally feasible to allow the NSA to access encrypted information from U.S. companies. Reference Link
February 23, 2015
06:21 EDTYHOOFacebook's shuttle drivers approve new union contract, WSJ reports
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