Ant Group Announces Share Repurchase Plan Overview Ant Group on Saturday announced a share repurchase plan that values the fintech giant at 567.1 billion yuan ($78.54 billion). The move aims to replenish its staff incentive pool and allow some investors to exit after the company faced regulatory fines. Downfall in Value Ant Group’s valuation has…
Chinese authorities to impose $1.1 billion fine on Ant Group Overview According to sources with direct knowledge of the matter, Chinese authorities are expected to announce a fine of at least 8 billion yuan ($1.1 billion) on Ant Group. This will mark the end of the fintech company’s regulatory overhaul, which began after its $37…
Alibaba Founder Jack Ma is “Alive” and “Happy,” Says Company President Introduction PARIS — Alibaba founder Jack Ma is “alive” and “happy,” the Chinese e-commerce giant’s president said Thursday, after speculation continues about the billionaire’s activities following Beijing’s intense crackdown on his tech empire. Updates on Jack Ma “Well, first of all, Jack is alive….
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