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China ordered 34 Internet corporations Tuesday to rectify their anti-competitive practices within the next month, signalling that Beijing’s scrutiny of its most powerful firms hasn’t ended with the conclusion of a probe into Alibaba Group Holding Ltd.
Regulators have instructed Ant Group to form a financial holding company under their supervision as well as shrink its money market fund Yu’ebao. The revamp sets the clock ticking again on Ant Group’s countdown to IPO.
China just slapped a record antitrust fine on Alibaba Group Holding Ltd. The company thanked the government and investors breathed a sigh of relief.
NEW YORK: The dollar fell slightly on Monday and a gauge of global equity markets slid from record highs last week as investors wait to see whether an expected jump in U.S. earnings will justify stock prices already trading at very high premiums.
BEIJING (Reuters) - Ant Group, the fintech affiliate of Alibaba Group Holding Ltd, will restructure as a financial holding company, China's central bank said on Monday, Ant has formed a "comprehensive and feasible restructuring plan," at the urging of financial regulators, the People's Bank of China (PBOC) said.
SHANGHAI: Alibaba does not expect any material impact from the antitrust crackdown in China that will push it to overhaul how it deals with merchants, its CEO said on Monday, after regulators fined the e-commerce giant $2.75 billion for abusing market dominance.
After China imposed a record antitrust fine on Alibaba Group Holding Ltd, the e-commerce giant did an unusual thing: It thanked regulators.
Grab Holdings Inc and Traveloka are poised to become public companies in coming months, kickstarting a coming-out party for South-East Asia’s long-overlooked internet scene.
SHANGHAI (Reuters) -Alibaba Group Holding Ltd