Newsclip®: [Business] US probes e-commerce giant Alibaba's accounting practices -

"WASHINGTON (AP) — Chinese e-commerce giant Alibaba says U.S. regulators are investigating its accounting practices. Alibaba said in a regulatory filing Tuesday that the U.S. Securities and Exchange Commission has requested documents and information related to the way it adds together earnings from its various divisions and how it reports transactions with other companies it has a stake in, among other things. Led by self-made billionaire and founder Jack Ma, Alibaba has put a huge footprint on the Chinese economy and made unorthodox moves, such as spinning off its payment service into a company Ma controlled without telling Yahoo, a major investor in Alibaba. To get around Chinese government restrictions on foreign investment in Internet companies, Alibaba deploys an unusual structure that gives foreign investors a stake in profits but keeps management control in China. The company in January reported better-than-expected results for its third quarter, as mobile shopping",

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