Once hailed as the standard-bearers of China’s economic and technological ascendancy, Alibaba and its compatriots now face increasing pressure from regulators worried about the speed with which they’re amassing clout

The probe marks the formal start of the Communist Party’s crackdown on the crown jewel of Jack Ma’s empire, spanning everything from e-commerce to logistics and social media

Ever since the Top Salon opened its doors in 1988, it has done solid business styling hair for the residents of Harkema, in the north-west Netherlands. Yet it might soon be giving its last haircuts. “The bank wants to close my account by January 1,” says the salon owner Annie Brouwer-Hoogsteen, 53, who launched her…