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Why Alibaba Just Got Hit With A Record $2.87 Billion Fine In China
Saturday, April 10, 2021 - 1:33pm | 546Read More...The regulatory troubles that have beset Jack Ma since November may be nearing their end, culminating in a hefty fine slapped on the Chinese tech entrepreneur's biggest brand. What Happened: China fined Ma's Alibaba Group Holding Ltd (NYSE: BABA) a record $2.8 billion after a...
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Fintech Focus For March 19, 2021
Thursday, March 18, 2021 - 11:23pm | 1887Read More...Quote To Start The Day: Biden’s remarks in the ABC interview that aired Wednesday has triggered a furious reaction from Russia’s government, which unleashed a barrage of criticism and took the extraordinary step of recalling its ambassador back to Moscow for "consultations"...
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Fintech Focus For March 17, 2021
Tuesday, March 16, 2021 - 8:59pm | 1939Read More...Quote To Start The Day: To succeed in business you must learn the art of saying no. Source: Barbara Corcoran One Big Thing In Fintech: Owning a company’s stock drives brand loyalty and increases spending. That’s according to a Columbia Business School study that analyzed transaction-...
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Alibaba Asked To Get Rid Of Media Assets By Beijing: WSJ
Tuesday, March 16, 2021 - 5:09am | 491Read More...China’s government wants Alibaba Group Holding Ltd. (NYSE: BABA) to sell its media assets due to concerns about the technology giant’s growing influence over public opinion in the country, the Wall Street Journal reported Monday, citing people familiar with the matter. What Happened:...
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Alibaba's Ant Leads The Way Globally In Blockchain Patents
Tuesday, March 16, 2021 - 2:18am | 535Read More...Ant Group, the financial technology affiliate of e-commerce giant Alibaba Group Holding Limited (NYSE: BABA) retained its spot as the largest holder of blockchain patents in 2020, according to a report by International Asset Management that cited data from Clarivate’s Derwent World...
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Jack Ma's Ant Pledges To Go Carbon Neutral By 2030
Monday, March 15, 2021 - 4:15am | 565Read More...Ant Group, the financial technology affiliate of e-commerce giant Alibaba Group Holding Limited (NYSE: BABA), has pledged to become carbon neutral by 2030. What Happened: Ant Group said that to reach the goal within the next nine years, it will set up a carbon neutrality fund to support the...
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Fintech Focus For March 15, 2021
Sunday, March 14, 2021 - 7:50pm | 1808Read More...Quote To Start The Day: The first step is you have to say that you can. Source: Will Smith One Big Thing In Fintech: The fintech space is rapidly maturing. Investors are backing huge deals, with Q1’21 already setting the record for total mega-rounds in a quarter. It has also seen the highest...
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Jack Ma Loses Title Of China's Richest Man, Now Ranks Fourth After Ant Group Fallout
Tuesday, March 2, 2021 - 12:18pm | 502Read More...A crackdown on fintech in China has hurt the valuation of one of the country's larger companies, and led to changes in the ranking of China's wealthiest people. What Happened: Jack Ma, the co-founder of Alibaba Group Holding (NYSE: BABA), is no longer the richest person in China...
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Jack Ma's Ant Shelves Employee Share Buyback Program Amid Regulatory Uncertainty: Report
Tuesday, March 2, 2021 - 3:42am | 521Read More...Alibaba Group Holding Ltd’s (NYSE: BABA) financial services arm Ant Group has shelved its share buyback program for current and soon-to-be-former employees due to ongoing regulatory uncertainty, Bloomberg reported Monday. What Happened: Employees of the Jack Ma-founded company are stuck with...
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Alibaba Seeks To Raise $5B In US Dollar Debt Offering This Week
Wednesday, February 3, 2021 - 2:11am | 485Read More...Alibaba Group Holding Ltd (NYSE: BABA) is planning to raise $5 billion by selling dollar-denominated bonds this week, Reuters reported Wednesday (Shanghai-time). What Happened: The book for the offering will open on Thursday and the deal is expected to be priced on the same day, a person...
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Jack Ma's Ant Looks To Shed US Biometric Security Unit EverVerify: FT
Tuesday, January 26, 2021 - 10:38pm | 423Read More...Alibaba Group Holding Ltd (NYSE: BABA) subsidiary Ant Group is planning to sell a key biometric security company it owns in the United States, the Financial Times reported Tuesday. What Happened: The Chinese fintech is looking to sell the Kansas City, Missouri-based EyeVerify in the first half of...
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Alibaba-Backed Ant Group's Valuation Estimated To Drop To $108B
Friday, January 22, 2021 - 2:32am | 305Read More...Alibaba Group Holdings Ltd. (NYSE: BABA)-backed Ant Group’s valuation is estimated to be around $108 billion, according to Bloomberg Intelligence. What Happened: This would be less than half of the $250 billion estimated valuation for Ant when it sought to go public late last year. China...
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Alibaba Shoots Up 8.5% As Jack Ma Makes First Public Appearance In Months
Wednesday, January 20, 2021 - 2:48am | 533Read More...Alibaba Group Holding Ltd (NYSE: BABA) shares traded nearly 8.5% higher in Hong Kong at press time after the company’s founder Jack Ma made an online public appearance after months. What Happened: Ma met 100 rural teachers through videoconferencing on Wednesday morning, Reuters reported. The...
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PayPal Becomes First Foreign Company To Fully Own A Payments Platform In China
Thursday, January 14, 2021 - 3:14am | 376Read More...PayPal Holdings Inc (NASDAQ: PYPL) became the first foreign company to be in complete control of its payment platform in China, Reuters reported Thursday (Shanghai time). What Happened: The Elon Musk and Peter Thiel-founded fintech firm acquired the remaining 30% stake in China’s GoPay...
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Fintech Focus For January 5, 2021
Monday, January 4, 2021 - 7:13pm | 1571Read More...Quote To Start The Day: Despite Congress passing a stimulus package providing funds for jobless benefits, vaccine distribution, stimulus checks and aid to businesses, the support could be too little, too late for many businesses. "How do you expect these people to survive?" Barstool...
