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Alibaba’s Jack Ma makes first public appearance in three months

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SHANGHAI (Reuters) – Alibaba Group founder Jack Ma made his first appearance since October on Wednesday when he spoke to a group of teachers by video, easing concern about his unusual absence from public life and sending shares in the e-commerce giant surging.

Speculation over Ma’s whereabouts has swirled in the wake of news this month that he was replaced in the final episode of a reality TV show he had been a judge on, and amid a regulatory clampdown by Beijing on his sprawling business empire.

The billionaire, who commands a cult-like reverence in China, had not appeared in public since Oct. 24, when he blasted China’s regulatory system in a speech at a Shanghai forum. That set him on a collision course with officials and led to the suspension of a blockbuster $37 billion IPO for Alibaba’s financial affiliate Ant Group.

Alibaba and his charitable foundation both confirmed he participated in an online ceremony for an annual event for rural teachers on Wednesday.

In the 50-second video, Ma, wearing a navy pullover, spoke from a room with grey walls, a large painting and floral arrangements. It was not clear where the room was.

Alibaba’s Hong Kong-listed shares jumped over 10% on the news, which was first reported by Tianmu News, a media outlet backed by the government of Zhejiang, the province where Alibaba’s headquarters are based.

“Jack Ma’s reappearance has given investors peace of mind after a lot of rumours, allowing them to pile into the stock which had been a laggard in the market,” said Steven Leung, sales director at brokerage UOB Kay Hian in Hong Kong.

The topic “Jack Ma makes his first public appearance” and his video address to the teachers soon began trending on China’s Twitter-like Weibo, triggering heavy discussion.

Although Ma has stepped down from corporate positions and earnings calls, he retains significant influence over Alibaba and Ant and promotes them globally at business and political events. He also continues to mentor management talent in the “Alibaba Partnership”, a 35-member group of company managers.

China has stepped up a regulatory crackdown on anticompetitive behaviour in the internet sector and Alibaba became the target of an antitrust investigation launched last month by Chinese authorities.

The company plans to raise at least $5 billion through the sale of a U.S. dollar-denominated bond this month.

 

 

(Reporting by Brenda Goh and Luoyan Liu in Shanghai, Kane Wu, Donny Kwok and Sumeet Chatterjee in Hong Kong, Yingzhi Yang, Cheng Leng and Zhang Yan in Beijing and the Shanghai Newsroom; Editing by Gerry Doyle and Edwina Gibbs)

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Mexican schools have 6 months to ban sale of junk food or face heavy fines

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MEXICO CITY (AP) — Schools in Mexico will have six months to implement a government-sponsored ban on junk food or else face heavy fines, officials said Monday.

The rules, published on Sept. 30, target products that have become staples for two or three generations of Mexican schoolkids: sugary fruit drinks sold in triangular cardboard cartons, chips, artificial pork rinds and soy-encased, salty peanuts with chile. School administrators who violate the order will face fines equivalent to between $545 and $5,450, which could double for a second offense, amounting to nearly a year’s wages for some of them.

Mexico’s children have the highest consumption of junk food in Latin America and many get 40% of their total caloric intake from it, according to the U.N. Children’s Fund which labeled child obesity there an emergency.

The new ban targets products that have become staples for two or three generations of Mexican schoolkids: sugary fruit drinks sold in triangular cardboard cartons, chips, artificial pork rinds and soy-encased, salty peanuts with chile.

Previous attempts to implement laws against so-called ‘junk food’ have met with little success.

President Claudia Sheinbaum said Monday schools would have to offer water fountains and alternative snacks, like bean tacos.

“It is much better to eat a bean taco than a bag of potato chips,” Sheinbaum said. “It is much better to drink hibiscus flower water than soda.”

However, the vast majority of Mexico’s 255,000 schools nationwide do not have free drinking water available to students. According to a report in 2020, the effort to install drinking fountains succeeded in only about 10,900 of the country’s schools, or about 4% of them. Many Schools are located in areas so poor or remote that they struggle to maintain acceptable bathrooms, internet connection or electricity.

Also the most common recipes for beans, refried beans, usually contain a significant dose of lard, which would violate rules against saturated fats.

Mexico instituted front-of-package warning labels for foods between 2010 and 2020, to advise consumers about high levels of salt, added sugar, excess calories and saturated fats. Some snack foods carry all four of the black, octagonal warning labels.

But under the new rules, schools will have to phase out any product containing even a single warning label from school snack stands. It wasn’t immediately clear how the government would enforce the ban on the sidewalks outside schools, where vendors usually set up tables of goods to sell to kids at recess.

Mexican authorities say the country has the worst childhood obesity problem in the world, with about one-third of children overweight or obese.

The Canadian Press. All rights reserved.

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Panthers’ Reinhart named NHL first star after posting nine points over four games

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NEW YORK – Florida Panthers centre Sam Reinhart was named NHL first star of the week on Monday after leading all players with nine points over four games last week.

Reinhart had four goals, five assists and a plus-seven rating to help the Stanley Cup champions post a 3-0-1 record on the week and move into first place in the Atlantic Division.

New York Rangers left-winger Artemi Panarin took the second star and Minnesota Wild goaltenderFilip Gustavsson was the third star.

Panarin had eight points (4-4) over three games.

Gustavsson became the 15th goalie in NHL history to score a goal and had a 1.00 goals-against average and .962 save percentage over a pair of victories.

This report by The Canadian Press was first published Oct. 21, 2024.

The Canadian Press. All rights reserved.



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Browns QB Deshaun Watson’s season ended by ruptured Achilles tendon, team said he’ll have surgery

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CLEVELAND (AP) — Deshaun Watson won’t finish the season as Cleveland’s starting quarterback for the second straight year.

He’s injured again, and the Browns have new problems.

Watson ruptured his right Achilles tendon in the first half of Sunday’s loss to Cincinnati, collapsing as he began to run and leading some Browns fans to cheer while the divisive QB laid on the ground writhing in pain.

The team feared Watson’s year was over and tests done Monday confirmed the rupture. The Browns said Watson will have surgery and miss the rest of the season but “a full recovery is expected.”

Watson was injured on a noncontact play in the second quarter of Cleveland’s 21-14 loss to the Bengals and carted off the field in tears.

It’s the second significant injury in two seasons for Watson, who broke the glenoid (socket) bone in his throwing shoulder last year after just six starts.

The 29-year-old went down Sunday without being touched on a draw play late in the first half. His right leg buckled and Watson crumpled to the turf. TV replays showed his calf rippling, consistent with an Achilles injury.

He immediately put his hands on his helmet, clearly aware of the severity of an injury similar to the one Jets quarterback Aaron Rodgers sustained last year.

As he was being assisted by the team’s medical staff and backup Dorian Thompson-Robinson grabbed a ball to begin warming up, there was some derisive cheers and boos from the stands in Huntington Bank Field.

Cleveland fans have been split over Watson, who has been accused of being sexually inappropriate with women.

The reaction didn’t sit well with several Watson’s teammates, including star end Myles Garrett, the NFL’s reigning Defensive Player of the Year, who was appalled by the fans’ behavior.

“We should be ashamed of ourselves as Browns and as fans to boo anyone and their downfall. To be season-altering, career-altering injury,” Garrett said. “Man’s not perfect. He doesn’t need to be. None of us are expected to be perfect. Can’t judge him for what he does off the field or on the field because I can’t throw stones for my glass house.

“Ultimately everyone’s human and they’re disappointed just like we are, but we have to be better than that as people. There’s levels to this. At the end of the day, it’s just a game and you don’t boo anybody being injured and you don’t celebrate anyone’s downfall.”

Backup quarterback Jameis Winston also admonished the uncomfortable celebration.

“I am very upset with the reaction to a man that has had the world against him for the past four years, and he put his body and life on the line for this city every single day,” he said. “The way I was raised, I will never pull on a man when he’s down, but I will be the person to lift him up.

“I know you love this game. When I first got here, I knew these were some amazing fans, but Deshaun was treated badly and now he has to overcome another obstacle. So I’m going to support him, I’m going to lift him up and I’m going to be there for him.”

The injury is yet another twist in Watson’s tumultuous time with the Browns.

Cleveland traded three first-round draft picks and five overall to Houston in 2022 to get him, with owners Dee and Jimmy Haslam approving the team giving Watson a fully guaranteed, five-year $230 million contract.

With a solid roster, the Browns were desperate to find a QB who could help them compete against the top AFC teams.

The Browns had moved on from Baker Mayfield despite drafting him No. 1 overall in 2018 and making the playoffs two seasons later.

But Watson has not played up to expectations — fans have been pushing for him to be benched this season — and Cleveland’s move to get him has been labeled an abject failure with the team still on the hook to pay him $46 million in each of the next two seasons.

Watson’s arrival in Cleveland also came amid accusations by more than two dozen women of sexual assault and harassment during massage therapy sessions while he played for the Texans. Two grand juries declined to indict him and he has settled civil lawsuits in all but one of the cases.

Watson was suspended by the NFL for his first 11 games and fined $5 million for violating the league’s personal conduct policy before he took his first snap with the Browns. The long layoff — he sat out the 2021 season in a contract dispute — led to struggles once he got on the field, and Watson made just six starts last season before hurting his shoulder.

Cleveland signed veteran Joe Flacco, who went 4-1 as a starter and led the Browns to the playoffs.

Before Watson got hurt this year, he didn’t play much better. He was one of the league’s lowest-rated passers for a Cleveland team that hasn’t scored 20 points in a game and is back in search of a franchise QB.

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