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China billionaire gives up control of Ant Group

One of China's richest men Jack Ma will give up control of the company he founded after a regulatory crackdown. Mr Ma, who started online marketplace

The New Daily

China's Ant Group says founder Jack Ma will give up control

Leading Chinese financial technology provider Ant Group has announced that its founder, e-commerce billionaire Jack Ma, will give up control of the company

The Independent UK

Billionaire Jack Ma to cede control of China’s Ant Group

Business magnate Jack Ma who controlled over 50 percent of the fintech giant’s shares will now hold just 6.2 percent.

Al Jazeera

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Billionaire Jack Ma chills in Bangkok

Billionaire Alibaba founder Jack Ma has been chilling in Bangkok this week amid reports that he is taking more steps to scale back his personal involvement with his online empire.

Bangkok Post

Chinese regulators approve capital expansion for Ant Group

Chinese regulators have said e-commerce giant Alibaba’s finance affiliate Ant Group can raise $1.5 billion for its consumer finance unit in an important step forward after the government called off a planned IPO two years ago and ordered the firm to restructure

The Independent UK

Ant digital bank expands in Singapore with small business loans

Ant Group Co’s Singapore digital wholesale bank will start offering loans to small and medium-sized businesses, as the Chinese fintech giant extends its reach in the city-state.

Bangkok Post

Ant Group's Alipay+ to boost cashless travel in South Korea

HONG KONG: Chinese financial technology giant Ant Group is ramping up cashless travel in South Korea through its Alipay+ programme, which supports a major collaboration between trusted mobile payment services providers across Asia.

Bangkok Post

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Alibaba Slumps 4% After Reports Of Jack Ma's Plan For Ant: Hang Seng Falls Despite Wall Street Rally Amid Xi-Biden Phone Call

Hong Kong’s benchmark Hang Seng Index was in the red on Friday, losing over 0.5% in opening trade, despite a continuing rally on Wall Street. Alibaba shares fell close to 4% following reports Chinese billionaire Jack Ma is planning to cede control of Ant Group.

Benzinga

China's big tech problem: even in a state-managed economy, digital companies grow too powerful

China’s digital economy has advanced rapidly over the past two decades, with services, communications and commerce moving online.

The Conversation

China's Xi Calls for Stronger Fintech Oversight, Security

A high-level Chinese government meeting led by President Xi Jinping has called for stronger oversight and better security in financial tech, state media reported, with the sector hit hard by a regulatory crackdown. The government action has pummeled some of China's biggest tech firms, wiping out hundreds of billions of…

Asharq Al-Awsat

ZhongAn Moves Further Out of Parental Shadow as Tencent Cuts Stake

Key takeaways: • Tencent reduced its stake in ZhongAn to about 8% from 10%, less than six months after Alibaba-affiliated Ant Group also cut its stake in the online insurer • ZhongAn’s net profit more than doubled last year, as reliance on its parents for business has decreased

Benzinga

Why Alibaba Shares Are Rising Today

Alibaba Group Holding Ltd - ADR (NYSE: BABA) shares are trading higher by 10.30% to $111.90 following reports suggesting China's central bank has accepted Ant Group's financial holding company application.

Benzinga

Chinese fintech giant Ant closer to reviving iPO

HONG KONG: China’s central bank has accepted an application by Ant Group to set up a financial holding company, a key step toward finishing a year-long overhaul of Alibaba founder Jack Ma’s fintech business and reviving its stock market debut.

Bangkok Post

Is Alibaba a Buy After Its Recent Gains?

Shares of e-commerce giant Alibaba Group Holding (BABA) gained momentum earlier this month after the government gave the green light to revive its subsidiary Ant Group’s dual listing. However, given its declining profit margins, is BABA an ideal investment now? Read more to find out.

StockNews.com

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Benzinga

Morning Brief: Top Financial Stories Dominating on Friday, June 10

Reuters Rebranded McDonald’s Restaurants To Reopen In Russia

Benzinga

Alibaba Cracks After Jack Ma's Ant Group Denies IPO Plans

The shares of Alibaba Group Holdings (NYSE: BABA) cracked after its financial affiliate Ant Group refuted media reports claiming that Beijin

Benzinga

'You're Going To Get Ripped Off': Why These Investors Say You Should Avoid Alibaba Stock

Alibaba Group Holding Ltd (NYSE: BABA) shares have sustained a significant rally over the last month, but some see trouble ahead for the Chinese e-commerce giant amid a murky regulatory landscape both overseas and in the U.S.

Axios

China's tech crackdown begins to loosen up

Ant Group might get its record-busting IPO after all.

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news in one place.

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Benzinga

Alibaba's Ant Undergoes Major Board Reshuffle, Names Hong Kong Bourse Boss As Independent Director

Alibaba's Chinese fintech giant Ant Group has appointed Hong Kong Exchanges and Clearing chairman Laura Cha as an independent director, according to a recent website update.

Newsroom.co.nz

Governments and big tech in playoff for world power

Big tech and the Chinese and US governments are embroiled in a complex relationship of harmony and conflict. We are all at the mercy of the outcome, write Cecilia Rikap and Bengt-Åke Lundvall

Benzinga

Alibaba's Ant On Hiring Spree In Singapore As It Faces Regulatory Headwinds In China

The financial technology giant Ant Group — an affiliate company of the Chinese Alibaba Group Holding Limited (NYSE: BABA) — is expanding in Singapore as it faces regulatory challenges in its home country.

360info

Governments and Big Tech in playoff for world power

Big Tech companies and the Chinese and US governments are embroiled in a complex relationship of harmony and conflict. We are all at the mercy of the outcome.

Benzinga

Alibaba Disruptive Tech Unit Axes 30% Staff; Alibaba Focuses On Carbon Neutrality

Alibaba Group Holding Ltd's (NYSE: BABA) DAMO Academy has gone ahead with a plan to cut a third of its workforce, the Pandaily reports.

Benzinga

Recent Probe Into Jack Ma's Ant Group Involved China Corruption Watchdog: Report

China’s corruption watchdog Central Commission for Discipline Inspection was among the top state agencies involved in a recent inquiry into links between Billionaire Jack Ma’s Ant Group Co. and state-owned Chinese companies, according to a

Benzinga

Jack Ma, Warren Buffett Backed Paytm Looks To Breakeven Soon: Bloomberg

Paytm, backed by SoftBank Group Corp (OTC:SFTBY) (OTC:SFTBF) and Alibaba Group Holding Ltd's (NYSE:BABA) fintech affiliate Ant Group, looks to break even on an operating basis over the next year-and-a-half, Bloomberg reports. The Indian digital payments pioneer doubled its gross merchandise value to $34.3 billion in the March quarter. Paytm looks to become profitable in…

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