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Xi’s Push Against Jack Ma Sparks New Threat for China Tech

(Bloomberg) — Chinese tech companies did a pretty good job convincing global investors that they operated independently from the Communist…

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Alphabet-backed fintech GoCardless nears $1 billion valuation amid digital payments boom

KEY POINTS Payments technology start-up GoCardless raised $95 million in an investment round that values it at $970 million. GoCardless…

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Cryptocurrency XRP plunges 25% after SEC files lawsuit against Ripple

KEY POINTS Cryptocurrency XRP sank nearly 25% to around 35 cents Wednesday morning. The SEC is suing Ripple and two…

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China launches antitrust probe into tech giant Alibaba

By Julie Zhu, Kane Wu and Cheng Leng HONG KONG/BEIJING (Reuters) -China has launched an antitrust investigation into Alibaba Group…

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SoftBank launches blank-check company to join SPAC craze

KEY POINTS SoftBank filed for an initial public offering for its special purpose acquisition company on Monday. The firm plans…

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Lidar stocks soar after report that Apple is working on a car for 2024

KEY POINTS Reuters reported on Monday that Apple is aiming to start production of an Apple-branded car for consumers as…

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After suing Facebook, the FTC has a chance to show critics it’s not toothless

KEY POINTS The FTC was roundly criticized by lawmakers on both sides of the aisle following privacy settlements tech hawks…

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Amazon closes New Jersey warehouse after workers test positive for coronavirus

KEY POINTS Amazon has temporarily closed a facility in northern New Jersey after it detected an increase in asymptomatic positive…

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China could restrict bank tie-ups with fintech platforms, official suggests

BEIJING (Reuters) – China’s former finance minister Lou Jiwei suggested that China could restrict the number of banks a single…

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‘You Can Take Any Of The Platforms Ant Has,’ Jack Ma Told Beijing Amid IPO Scrutiny: WSJ

Jack Ma, the co-founder of Alibaba Group Holding Ltd (NYSE: BABA), offered to give Beijing parts of his financial technology firm Ant Group…

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