Market Chatter: US Court Temporarily Blocks Lobbying Ban on Alibaba

MT Newswires Live07-06 11:35

US District Judge Eumi K. Lee on Sunday temporarily barred the Pentagon from treating China's Alibaba Group (HKG:9988) as a Chinese military company under a new lobbying restriction while the court considers the company's legal challenge, Bloomberg News reported Monday.

The decision grants Alibaba relief until a ruling is issued or 60 days after a hearing, the report said.

The Pentagon added Alibaba to its list of Chinese military companies on June 8. The Chinese technology firm sued the US Defense Department on June 23 to challenge the designation, saying it was not related to the Chinese military, and on June 30 sought relief from lobbying restrictions that came into effect the same day, it said.

Alibaba Group did not immediately respond to MT Newswires' request for a comment.

Shares of the company fell 1% in recent trade.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Lee on Sunday temporarily barred the Pentagon from treating China's <a href=\"https://laohu8.com/S/BABA\">Alibaba Group</a> (HKG:9988) as a Chinese military company under a new lobbying restriction while the court considers the company's legal challenge, Bloomberg News reported Monday.</p><p>The decision grants Alibaba relief until a ruling is issued or 60 days after a hearing, the report said.</p><p>The Pentagon added Alibaba to its list of Chinese military companies on June 8. The Chinese technology firm sued the US Defense Department on June 23 to challenge the designation, saying it was not related to the Chinese military, and on June 30 sought relief from lobbying restrictions that came into effect the same day, it said.</p><p>Alibaba Group did not immediately respond to MT Newswires' request for a comment.</p><p>Shares of the company fell 1% in recent trade.</p><p>(Market Chatter news is derived from conversations with market professionals globally. 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Lee on Sunday temporarily barred the Pentagon from treating China's Alibaba Group (HKG:9988) as a Chinese military company under a new lobbying restriction while the court considers the company's legal challenge, Bloomberg News reported Monday.The decision grants Alibaba relief until a ruling is issued or 60 days after a hearing, the report said.The Pentagon added Alibaba to its list of Chinese military companies on June 8. The Chinese technology firm sued the US Defense Department on June 23 to challenge the designation, saying it was not related to the Chinese military, and on June 30 sought relief from lobbying restrictions that came into effect the same day, it said.Alibaba Group did not immediately respond to MT Newswires' request for a comment.Shares of the company fell 1% in recent trade.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"0","news_tag":"policyRegulatory","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.45.2","shortVersion":"4.45.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2649648886","isCrawlerRequest":true}