Bloomberg Alibaba Executive Vice Chairman Joe Tsai has bought the National Lacrosse League’s expansion team in San Diego, bringing another billionaire owner to a league with plans to add franchises and expand its digital footprint. Tsai, who has a net worth of $11.4 billion, paid about $5 million for the yet-to-be-named franchise, according to a person with knowledge of the ...

Bloomberg Toyota Motor Corp. is pushing deeper into the ride-sharing business. Toyota Tsusho Corp., the automaker’s trading arm, will invest an undisclosed amount in Grab, Southeast Asia’s leading ride-hailing operator. Toyota Motor said it will work with Grab to provide services in the region, a year after the carmaker bought a small stake in Uber Technologies Inc. as it explores ...

Bloomberg China’s State Administration for Industry and Commerce is reviewing an antitrust complaint accusing Apple Inc. of abusing its dominant position in smartphone applications, people familiar with the matter said. The regulator is studying the information following a complaint filed on behalf of developers before deciding if a formal investigation is necessary, said the people, who asked not to be ...