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Chinese e-commerce giant Alibaba says it will not sell shares in Ant's buyback program

Chinese e-commerce giant Alibaba has said it will not sell any shares in its one-third shareholding in financial technology company Ant Group Co_ because it wants to retain its stake in an “important strategic partner.”

The Independent UK

Jack Ma, once Asia’s richest person, has seen more than half of his $61 billion fortune wiped out in the past 3 years

Beijing cracked down on the companies Ma founded after he publicly criticized Chinese regulators.

Fortune

Jack Ma’s wealth drops $4.1 billion as Ant’s valuation slashed

BEIJING: Jack Ma’s fortune is dwindling further as a planned repurchase of shares reveals a much reduced valuation for Ant Group Co., the payments business he co-founded.

The Times of India

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What is the best North East TV show ever? Cast your vote and help us find a winner

We want to know what you think the best North East based TV show is of all time - cast your vote now

Chronicle Live

Ant Group Plans $78.5 Billion Buyback Amid Regulatory Obstacles

Billionaire-backed firm aims to retain talent and offer exit to affected investors.

Zenger

Ant to buy back shares at 70% lower valuation than at IPO

Jack Ma-backed Ant Group Co is proposing to buy back as much as 7.6% of shares in an effort to retain talent and offer an exit for investors ensnared by a years-long regulatory crackdown at the company.

The Times of India

Chinese tech firms handed massive fines

BEIJING: Chinese regulators said on Friday they had fined the fintech giant Ant Group almost $1 billion for “illegal acts” and handed an affiliate of rival Tencent a $415-million penalty, adding that a long-running crackdown on technology companies was drawing to a close.

Bangkok Post

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TUI appoints Ant and Dec as 'Happiness Ambassadors'

Their mischievous plans will be revealed

Bristol Post

Ant and Dec join TUI as 'Happiness Ambassadors'

Their mischievous plans will be revealed

Wales Online

Man who has Phillip Schofield tattoo on bum says he has 'no regrets'

The dad got both Phillip Schofield and Holly Willoughby tattooed on his bum as a friend had both Ant and Dec

Irish Mirror

Bryton Gardia R300L Rear Light & Radar review

A very neat little unit that combines a rear light and radar to keep you better informed about traffic

Cycling Weekly

‘We in the west were blinded’: China crackdown on business has Maoist roots

‘Anti-spying’ raids on consulting firms and attacks on tech companies are being driven by party ideology, says academic Chris Marquis

The Guardian - UK

Weekly Must-Read: Top Chinese Digital Banks Report More Bad Loans but Higher Earnings

Ant-backed MYbank and Tencent-backed WeBank disclose higher nonperforming loan ratios amid the pandemic yet liquidity metrics remain healthy

Caixin Global

Jack Ma joins University of Tokyo as visiting professor

BEIJING: Alibaba Group Holding Ltd co-founder Jack Ma is joining the University of Tokyo’s Tokyo College as a visiting professor, according to a profile page on the university’s website.

The Times of India

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Manchester Evening News

The 10 players Manchester United should sell to generate £150m for transfers

With at least two key signings wanted and Erik ten Hag keen to improve the squad depth, outgoings have to break double figures at Man United this summer.

StockNews.com

3 Chinese Stocks Taking a Hit Amidst Regulatory Crackdowns in China

The regulatory tightening in China, which started in late 2020, intensified in terms of duration and scope. The Chinese government issued antitrust and antimonopoly laws, putting significant pressure on stocks. Hence, investors could consider avoiding fundamentally weak Chinese stocks The9 Limited (NCTY), Recon (RCON), and ZW Data (CNET), which are…

WhatToWatch

Phil Tufnell reveals why he's returning to I'm a Celebrity after 20 years

Phil Tufnell returns to the jungle — but this time it's for I'm a Celebrity South Africa.

Daily Mirror

I'm A Celeb All Stars first twist exposed as 'SIX bombshell arrivals join as latecomers'

The first twist on I'm A Celebrity All Stars is said to be the arrival of six more memorable campmates who will battle to become the first I’m A Celebrity Legend

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Financial Times

China truce with business — for now

Worried about decelerating growth, Xi Jinping has launched a charm offensive to convince investors the country is open for business

The Independent UK

China e-commerce giant Alibaba outlines future strategy

The CEO of Chinese e-commerce and financial giant Alibaba says the company is moving toward giving up control of some of its business units in a transition toward becoming a capital operator to unlock the value of its sprawling businesses

Caixin Global

Following the startling suspension of its would-be record-setting $34.5 billion IPO in November 2020, the fintech company was plunged into an extensive restructuring that has been ongoing for the past two years as regulators clamp down on misconduct in the industry

The Times of India

Jack Ma lands in Hong Kong on latest stop of a global tour

HONG KONG: Alibaba Group Holding Ltd co-founder Jack Ma is in Hong Kong for a series of meetings with tech and finance executives, sustaining a recent flurry of activity that’s taken him round the world in the span of months.

The Guardian - UK

‘A lifeline’: mental health camps bring peace of mind to thousands in rural Assam

India’s severe shortage of mental health professionals and treatment funding leaves many patients without options. But a pioneering programme is working to get lives back on track

The New Daily

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

Al Jazeera

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.

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