Alibaba Group hit with record $2.8 billion fine amid increased government scrutiny of billionaire Jack Ma's tech empire

Alibaba Group has been hit with a record $2.8 billion fine in China. Billionaire founder Jack Ma's tech empire has come under increased scrutiny from regulators. "Alibaba accepts the penalty with sincerity," the company said in a statement. See more stories on Insider's business page. China on Saturday fined Jack...