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Alibaba sexual harassment investigation: ‘no evidence to prove rape’

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Police have found no evidence that an Alibaba employee was raped by her boss and a client on a business trip

Chinese police say there is not enough evidence to prove that a manager and client raped an Alibaba employee at a business trip.

In their initial findings police say the former manager was suspected of committing “forcible indecency” against the woman.

Two senior executives at the e-commerce giant have resigned and Chief Executive Daniel Zhang says the company’s handling of the incident is a “humiliation”.

Alibaba launches investigation

Alibaba launched an investigation after an anonymous employee published an 11-page document detailing how her boss and a client assaulted her on a business trip.

The document has circulated widely online, prompting a social media storm. The story was one of the top trending items on Weibo over the weekend of publication.

The woman says her boss coerced her into going on a business trip with him to meet one of her team’s clients in the city of Jinan.

The woman recounts that she woke with no clothing or memory of what happened

After drinking with the client one evening, she says she woke up in a hotel room the following day with no clothing or recollection of what happened.

CCTV footage from the hotel showed that her boss visited the room four times during the evening.

The woman reported the incident to human resources and management. However, no further action was taken against her boss.

Police in China’s city of Jinan said they were investigating the incident while Alibaba launches an investigation

“Alibaba Group has a zero-tolerance policy against sexual misconduct,” a spokesperson said. “We have suspended relevant parties suspected of violating our policies and values.”

The spokesperson also said Alibaba has created an “internal task force” to investigate the incident and support the police investigation.

Alibaba CEO Daniel Zhang addressed the incident in a post to the company’s internal message board

“It is not just Human Resources who should apologize. The related business department managers also hold responsibility and should apologize for their silence,” Zhang wrote.

“Starting from me, starting from management, starting from human resources, everyone at Alibaba must empathize, reflect, and take action.”

Alibaba has responded by suspending the woman’s supervisor. It has also suspended the human resource worker who failed to take action against the alleged perpetrator.

Read more here

Natasha is an Associate Producer at ticker NEWS with a Bachelor of arts from Monash University. She has previously worked at Sky News Australia and Monash University as an Online Content Producer.

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Stocks rally ahead of Thanksgiving as markets log four days of gains

Markets gain momentum ahead of Thanksgiving, with the Dow up 388 points and Oracle rising 4% amid investor optimism.

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Markets gain momentum ahead of Thanksgiving, with the Dow up 388 points and Oracle rising 4% amid investor optimism.


Markets are moving into the Thanksgiving break with strong momentum, as stocks notch four straight days of gains. The Dow Jones Industrial Average jumped 388 points, while the S&P 500 added 0.9%, pushing both indexes toward their best week since June.

Oracle led major movers, rising more than 4% after Deutsche Bank reaffirmed its bullish outlook on the tech giant. Broad investor optimism continues building across sectors as economic data softens and earnings remain resilient.

All eyes are now on the Federal Reserve and what potential shifts in interest-rate policy may mean for the markets. U.S. markets will close Thursday for the Thanksgiving holiday and reopen Friday for a shortened trading session.

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#Markets #Stocks #Thanksgiving #DowJones #SP500 #Oracle #FederalReserve #FinanceNews


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Dow surges 500 points amid rate cut optimism

Dow jumps 569 points on fresh hopes for December rate cut and AI market optimism

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Dow jumps 569 points on fresh hopes for December rate cut and AI market optimism

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In Short:
– Dow Jones rose 569 points, reflecting optimism for a Federal Reserve interest rate cut.
– Alphabet’s stock increased as Meta may invest in AI chips, but Nvidia’s declined amid market concerns.
The Dow Jones Industrial Average increased by 569 points or 1.2% on Tuesday, reflecting investor optimism for an upcoming Federal Reserve interest rate cut. The S&P 500 and Nasdaq Composite also posted gains, up 0.8% and 0.4% respectively. This represented a recovery from earlier losses, where the S&P 500 briefly fell by 0.7%.Banner

Markets anticipate an 85% chance of a quarter-point rate cut in December, driven by comments from New York Fed President John Williams, who indicated the possibility of lower rates soon. Investor sentiment strengthened following reports that Kevin Hassett may be appointed as the next Fed chair, potentially resulting in a more lenient monetary policy.

Tech Sector

Alphabet saw its stock rise by over 1% after reports indicated that Meta Platforms might invest in its AI chips. This could signal increased demand for AI technology, benefiting the sector overall. However, Nvidia’s stock fell more than 3%, suggesting concerns about its dominance in the AI chip market.

Investors are also wary of the valuation of tech stocks. Despite recent gains, the S&P 500 and Nasdaq remain down over 1% and 3%, respectively, for November, while the Dow has lost more than 1% this month. The broader market’s performance indicates ongoing scrutiny regarding tech valuations amid changing economic expectations.


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Gold prices surge as Central Banks buy big, but risks grow ahead

Gold prices surge as central banks increase demand; risks include a stronger dollar and rising interest rates.

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Gold prices surge as central banks increase demand; risks include a stronger dollar and rising interest rates.


Gold prices are climbing fast as central banks ramp up buying, pushing demand to its highest levels in years. The metal’s reputation as a safe haven is strengthening, especially amid rising geopolitical tensions and global financial uncertainty.

But experts warn the shine could fade. A stronger US dollar and the possibility of rising interest rates may weigh on momentum, making investors question how long the rally can last.

Dr Steven Enticott from CIA Tax breaks down the drivers behind gold’s surge—from ETF inflows to physical bar demand—and what could send the price sharply higher… or lower.

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#gold #markets #centralbanks #economy #finance #investing #interestRates #usdollar


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