Alibaba records first quarterly operating loss since IPO

Workers past by the logo for Alibaba Group during an Internet Technology Expo in Beijing on Friday, April 30, 2021. Chinese financial regulators have summoned 13 companies engaged in online finance services, including Meituan, Tencent and Bytedance, and told them to strengthen anti-monopoly measures. As part of their crackdown on online financial services, last year authorities abruptly halted a $34.5 billion initial public offering by Ant Group, which is affiliated with e-commerce giant Alibaba. (AP Photo/Ng Han Guan)