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Jack Ma Wealth Surges Above Walmart Heirs’ With Record Ant IPO

Jack Ma, the former English teacher who co-founded Alibaba Group Holding Ltd. with $60,000, is poised to become the world’s 11th richest person after Ant Group Co. priced shares for a record initial public offering.

Digital yuan will not compete with WeChat Pay or Alipay

China’s digital yuan will not compete with private apps like WeChat Pay and Alipay, but it may have to contend with counterfeit digital wallets.

China wooing investors to Shanghai, with HSBC, Goldman answering

Central bank chief Yi Gang tells Bund Summit that the country’s focus on domestic economy does not mean it is shutting the door on the rest of the world.

Airline industry carnage hits families but billionaires are sitting pretty

Billionaires’ wealth has increased during the pandemic while the aviation industry is mired in crisis. The thousands employed at Hong Kong airport and in tourism appear set for even more hardship, unlike the city’s mega rich.

China moves to legalise digital yuan, ban competitors with new draft law

Head of the central bank’s digital currency research institute acknowledges potential problems with digital yuan, but says these reinforce the need for central bank oversight.

Google was forced to remove apps from its app store after they violated children's data collection laws

Google removed the Princess Salon, Number Coloring and Cats & Cosplay apps

Microsoft quietly prepares to avoid spotlight under Biden

Microsoft senior executives have donated more to Biden during the primaries than any other large tech company

Greece’s Top Anti-Corruption Prosecutor Faces Removal

The job of Greece’s top anti-corruption prosecutor, Eleni Touloupaki, has faced an uphill battle to hold on to her position following a change in government in July of 2019, which brought a political party to power that includes several officials she was actively investigating.

China to impose sanctions on US arms suppliers to Taiwan - Boeing, Lockheed Martin

Chinese-U.S. relations have plunged to their lowest level in decades amid disputes about security, technology, the coronavirus pandemic and human rights

Research Shows Big Tech Avoided $2.8 Billion in Tax to Developing Countries

Twenty countries across Asia, Africa, and South America are missing out on as much as US$2.8 billion in tax revenue from Facebook, Apple, and Google alone, new research by the organization ActionAid revealed on Monday. 

Apple supplier Foxconn looks to counter a rising Chinese competitor

Foxconn, the world’s largest electronics contract manufacturer, is increasingly wary of Chinese competitor Luxshare, which could eat into its business with Apple.

Bitcoin has 'considerable' upside as it better competes with gold as alternative currency, JPMorgan says

Bitcoin's 2020 surge could be set to continue as the digital cryptocurrency better competes with gold as an "alternative" currency, JPMorgan said in a note on Friday.

Time to Reset Expectations for World Economy With Virus Untamed

Investors banking on a coronavirus vaccine to save the world economy in 2021 need to temper their ambitions as scientists increasingly warn of a long and difficult road ahead.

Foreigners Are Snapping Up China Government Bonds Like Never Before

They came for the yield and stayed for the currency: foreigners are buying Chinese bonds like never before even though domestic investors keep dumping the notes.

Adversaries call for reform of Big Tech after Justice Department sues Google

Calls for increased regulation of Big Tech have been amplified following the Justice Department's filing of a landmark antitrust suit against Google this week.

What Brexit will do to the City of London

THE FORTUNES of financial centres may swing less wildly than the markets they host, but swing they do. In the 2000s London threatened to knock New York off its perch as the world’s top financial centre. Michael Bloomberg, then mayor of the Big Apple, commissioned McKinsey to study how his city could repulse the attack in 2007.

Facebook deploys aggressive measures to combat election unrest

Facebook executives are implementing emergency measures reserved for "at-risk" countries in a company-wide effort to bring down the online temperature.

Jack Ma urges financial regulation reform on eve of Ant Group IPO

Jack Ma urges financial regulation reform on eve of Ant Group’s ‘biggest IPO in history’

Samsung chairman Lee Kun-hee dies after long illness

Lee Kun-hee, the chairman of South Korean electronics giant Samsung, died Sunday at the age of 78, the company said. He had been comatose since suffering a heart attack in 2014.

Gap exiting malls, to shutter 350 stores by 2024

Closings include 130 Banana Republic sites in North America