Jack Ma, the Chinese billionaire, will be stepping down from the post of president of the elite business school Hupan University, that he co-founded six years ago, reported the Financial Times.

Jack Ma recently stepped down as the President of the Hupan Innovation Center, an elite institute that he co-founded six years ago. Reports indicate that the move came as a result of political pressure from the Chinese government.

The investigation is the latest into China’s big so-called ”platform” companies that match sellers and buyers, several of which have been accused by regulators of exploiting consumers.

Antigua and Barbuda Prime Minister Gaston Browne has asked neighbouring Dominica, where fugitive businessman Mehul Choksi was caught, to hand the diamantaire over to India directly, local media reported. After news of Choksi's arrest in Dominica came on Tuesday night (local time), Browne told local media that he has given "clear instructions" to the Dominican authorities to repatriate Choksi to India.