Exclusive: China set to fine Ant Group over $1 billion, signalling revamp nears end-sources
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.
Alibaba aims to add primary listing in Hong Kong, woo China investors after crackdown
Alibaba (9988.HK) plans to add a primary listing in Hong Kong to its New York presence, targeting investors in mainland China as it becomes the first big company to take advantage of a rule change in the financial hub to attract high-tech Chinese firms.
Futures rebound as China ADRs rally; tech, growth stocks rise
U.S. stock index futures bounced on Monday, as a report of Beijing regulators concluding a year-long probe into Didi Global added to optimism about easing COVID-19 curbs in the country, lifting shares of other NY-listed China stocks.
China’s Didi faces rocky path to growth after winning U.S. delisting nod
Didi Global may have ensured its survival after winning shareholders’ nod for a U.S. stock delisting but a quick return to growth won’t be easy for the Chinese ride-hailer as it still faces regulatory scrutiny and as COVID-19 has hurt the business.
China’s Didi plans Hong Kong ‘listing by introduction’, picks banks -sources
China’s ride-hailing giant Didi Global (DIDI.N) plans to use a mechanism that will allow it to list shares in Hong Kong without raising capital or issuing new stock as it seeks to delist from New York, two people with knowledge of the matter said.
Uber looking to sell Didi, China market has little transparency, CEO says
Uber Technologies Inc (UBER.N) is looking to sell stakes in non-strategic assets including its holding in Beijing-based Didi Global Inc (DIDI.N), its CEO said on Tuesday, who also described the China market as a tough one with little transparency.
Analysis: Didi’s New York exit a further blow to Chinese listings in U.S.
Dec 3 (Reuters) – Ride-hailing giant Didi Global’s (DIDI.N) plan to withdraw from the New York stock exchange may create an even deeper chill after this year’s drop-off in Chinese firms’ listings in the world’s most liquid market, bankers and advisers said.
Alibaba overhauls e-commerce businesses, names new CFO
Alibaba Group Holding Ltd (9988.HK) said it will reorganise its international and domestic e-commerce businesses and replace its CFO – changes that come as the tech giant grapples with an onslaught of competition, a slowing economy and a regulatory crackdown.
Softbank Group shares slide 3% after Didi, Arm, Grab triple setback
Shares in Japanese conglomerate SoftBank Group Corp (9984.T) dropped over 3% on Friday after the giant tech investor was hit with three disappointments within 24 hours, including a poor Nasdaq debut for ride-hailing firm Grab (GRAB.O).
Wall Street ends sharply lower as Delta variant sparks new lockdown fears
A surge in Delta variant infections sparked a broad sell-off on Wall Street on Monday as investors feared renewed COVID-19 shutdowns and a protracted economic recovery.
