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Highlights from the world of retail

Jack Ma to step down next year Alibaba founder Jack Ma has revealed he is stepping down as executive chairman in 12 months’ time, when he will hand the reins over to chief executive Daniel Zhang, who has been handling the day-to-day operations of the business for the past five years. Ma will remain on as a director of the company until the 2020 annual meeting and a permanent member of the Alibaba Partnership, which guides the business, well beyond that. “I have put a lot of thought and