Apple has suspended new business with key supplier Pegatron after discovering labour violations at a student workers’ programme, taking strong action to clean up its Chinese-focused production chain.
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China’s move to halt Ant Group’s massive stock debut could reduce the fintech giant’s value by as much as $140-billion, according to analysts’ revised estimates.
ByteDance is in discussions over a $2-billion financing round before listing some of its businesses in Hong Kong, people familiar with the matter said, as talks over a sale of TikTok to Oracle and Walmart stall.
The shock suspension of Ant Group’s $35-billion initial public offering is just the beginning of a renewed campaign by China to rein in the fintech empire controlled by Jack Ma.
Almost $1-billion (R16.2-billion) worth of bitcoin that likely originated from Silk Road is on the move, according to blockchain tracker Elliptic.
Two weeks ago, Jack Ma somehow found the time to opine on China’s banking system at a high-profile financial forum in Shanghai, once again throwing himself into the eye of the storm. That’s now costing him big time.
Ant Group’s $37-billion listing has been suspended in both Shanghai and Hong Kong in a dramatic move just two days before what was set to be the world’s largest-ever stock market debut.
Twitter and Facebook both flagged posts by President Donald Trump that claimed a US supreme court decision on mail-in voting would lead to “rampant” fraud and was “very dangerous”.
Four Chinese regulators invited billionaire Jack Ma and Ant Group’s top executives to a supervisory interview on Monday, a rare meeting that underscores rising government scrutiny of the company.
The board of Twitter expressed support for CEO Jack Dorsey on Monday and said it had confidence in the social media company’s “current structure”.