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Market Chatter: Alibaba Secures Partial Win After Judge Orders Lifting Lobbying Ban Tied to US Blacklisting Move

MT Newswires Live10-27 17:00

Alibaba Group Holding (HKG:9988) has been granted a preliminary injunction by a US federal judge, undoing a Trump administration effort to restrict firms that provide lobbying services for the Chinese conglomerate from securing Pentagon contracts, according to a Tuesday Reuters report.

Following the ruling, Alibaba will now be able to retain US lobbyists who also represent Pentagon contractors, the report said.

The partial win comes after Alibaba sued the US government for being included in a blacklist over ties to the Chinese military, an allegation the company profusely denies and continues to challenge in US courts.

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

(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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