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WSJ Tech News Briefing

TNB Tech Minute: Alibaba CEO Takes Control of Domestic E-Commerce

WSJ Tech News Briefing

The Wall Street Journal

News, Tech News

4.31.7K Ratings

🗓️ 20 December 2023

⏱️ 2 minutes

🧾️ Download transcript

Summary

Plus: Electric scooter company Bird files for bankruptcy. And a settlement with the FTC bans Rite Aid from using facial recognition for five years. Alex Ossola hosts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

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0:14.5

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0:19.2

your energy. So visit eon next.com today. Discounts available to Decons' customers and 31st of December 2023.

0:26.0

T's and C's eligibility criteria and geographical restrictions apply.

0:30.0

Here's your T&B Tech Minute for Wednesday, December 20th.

0:35.0

I'm Alex Osala for the Wall Street Journal.

0:38.0

Alibaba CEO Eddie Wu has been appointed as CEO of Taubow and T-Mall Group, the company's domestic e-commerce business,

0:45.3

effective immediately. That's according to an exchange filing. The changeup represents the

0:50.0

latest leadership moves at the tech giant, which, after dominating China's e-commerce market for years, is struggling with new competition.

0:57.0

E-Sgooter Company Bird Global has filed for bankruptcy.

1:01.0

It's the latest company to go bust from a boom in

1:04.0

spacks or special purpose acquisition companies that took hundreds of risky

1:08.0

companies to the stock market in recent years. Bird, which operates in more than

1:12.1

350 cities, said reasons for its bankruptcy filing include

1:15.6

expenses related to the more than 100 lawsuits it's facing, mostly personal injury claims

1:20.6

involving scooter riders accidents. The company's Canadian and

1:24.0

European businesses aren't part of the bankruptcy and will continue operating as

1:27.8

normal. And Rite Aid has been banned from using facial recognition technology for surveillance purposes for five years.

1:36.0

The ban is part of a settlement with the Federal Trade Commission,

1:39.0

which charged that the retailer had failed to put in place safeguards to prevent harm to consumers

1:43.4

after it rolled out facial recognition in hundreds of stores.

1:46.6

Rite Aid said in a statement it was pleased to reach an agreement with the FTC.

...

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