Ant Group Co., the fintech affiliate of Alibaba Group Holding Ltd., received approval from the Chinese government to roll out products powered by its large language model Bailing to the public. Bailing will be applied to Ant’s various services and …
The announcement of a nearly $1 billion fine by Chinese regulators on Ant Group has drawn a line under the fintech giant’s woes and given hope to investors that a regulatory crackdown on China’s broader technology sector is over. Ant’s …
Chinese authorities announced on Friday a 7.12 billion yuan ($984 million) fine for Ant Group, ending a years-long regulatory overhaul of the fintech company and marking a key step to concluding a crackdown on the country’s internet sector. China’s central …
Chinese regulators are expected to fine Ant Group about a quarter less than the more than $1 billion initially planned and downgrade their charges against it, sources said, as they seek to end a years-long crackdown on marquee technology firms. …
Ant Group’s founder Jack Ma will give up control of the Chinese fintech giant in an overhaul that seeks to draw a line under a regulatory crackdown that was triggered soon after its mammoth stock market debut was scuppered two …
Chinese authorities are poised to impose a fine of more than $1 billion on Jack Ma’s Ant Group, said six sources with direct knowledge of the matter, setting the stage for ending the fintech company’s two-year long regulatory overhaul. The …
China’s central leadership has given billionaire Jack Ma’s Ant Group a tentative green light to revive its initial public offering (IPO), two sources with knowledge of the matter said, in the clearest sign yet Beijing is easing its crackdown on …
Alibaba Group Holding Ltd. has fired a woman who accused a manager of sexual assault, a surprise move that came just months after China’s e-commerce leader admitted bungling its initial response to the allegation. The employee surnamed Zhou told the …
HONG KONG – Warburg Pincus, a major global investor in Ant Group, has cut its valuation of the Chinese fintech company by 15% to below $200 billion due to risks from a restructuring at the Hangzhou-based firm, a source with …
Ant Group Co.’s profit rose an estimated 39% in the June quarter, attributed to a gain in investments as billionaire Jack Ma’s fintech giant grapples with the impact of China’s rapidly shifting rules for private enterprise. The company contributed 6.5 …
