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Page 240 - அலிபாபா குழு வைத்திருத்தல் லிமிடெட் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

China Reins in Jack Ma s Ant Group With Enforced Revamp

China Reins in Jack Ma’s Ant Group With Enforced Revamp The Chinese regime has imposed a sweeping restructuring on Jack Ma’s Ant Group, the fintech group whose record $37 billion IPO was derailed by regulators in November, underscoring Beijing’s determination to rein in its internet giants. The overhaul, which has been in the works for several months, includes Ant turning into a financial holding firm, a move expected to curb its profitability and valuation. It comes two days after e-commerce giant Alibaba Group Holding Ltd, of which Ant is an affiliate, was hit with a record $2.75 billion antitrust penalty as Beijing tightens controls on the “platform economy”.

Ant Group gives in to regulators pressure; to restructure as financial holding company

A Peek Into The Markets: US Stock Futures Signal Lower Start On Wall Street; Crude Oil Edges Higher

A Peek Into The Markets: US Stock Futures Signal Lower Start On Wall Street; Crude Oil Edges Higher
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