China’s Ant Group’s quarterly profits plummeted following a long-term crackdown on the country’s tech sector. The FinTech contributed $145 million to its affiliate Alibaba’s earnings, according to a Thursday (Feb. 23) earnings report, which translated to an 82.3% drop. “The year-over-year decrease in share of...
Ant Group’s founder is set to give up control of the Chinese FinTech. Billionaire Jack Ma will no longer hold majority voting rights in the company, Ant Group said in a statement Saturday (Jan. 7). As PYMNTS noted last year when reports of Ma’s possible...
Today in the connected economy, Mastercard names a number of new partners to its buy now, pay later program, Mastercard Installments. Also, inflation leads McDonalds to hike prices in the U.K., and Ant Group’s Jack Ma gives up control of that company as the Chinese...
Billionaire Jack Ma, one of China’s most noted entrepreneurs, could be giving up control of Ant Group. This move would further separate the company from affiliate Alibaba after regulators in the country turned up the heat on big tech firms more than a year ago,...
September 09, 2019
Some people build from the background, by design or default, working on seemingly small and mundane things that nevertheless have a great impact on the lives of millions upon millions of people. Think, perhaps, of all those World War II and post-war era mathematicians, physicists and computer scientists who created, via one relatively obscure innovation […]
March 22, 2017
Then again, that depends on who you are. The bidding war might be brewing, but what lies behind the Ant Financial and Euronet bids for MoneyGram? Here's a look behind...
March 15, 2017
Who said that money transmitters with large physical footprints weren’t sexy? In a turn of events — surprising enough that if it had happened two weeks from now we might...
January 27, 2017
All in a week's work. Beat the Street, make a buy. Alibaba did both, putting to rest fears of a Chinese consumer speed bump with its latest quarterly results, and,...
June 15, 2023
Alibaba, the Chinese eCommerce behemoth, is planning to expand its Tmall eCommerce site to Europe, according to Michael Evans, president of Alibaba Group. Speaking at the Viva Tech conference in Paris, Evans revealed that the company’s move into Europe reflects a significant shift in strategy for Alibaba’s international eCommerce operations. “You will see something called […]
February 23, 2023
China’s Ant Group’s quarterly profits plummeted following a long-term crackdown on the country’s tech sector. The FinTech contributed $145 million to its affiliate Alibaba’s earnings, according to a Thursday (Feb....
January 08, 2023
Ant Group’s founder is set to give up control of the Chinese FinTech. Billionaire Jack Ma will no longer hold majority voting rights in the company, Ant Group said in...
July 28, 2022
Billionaire Jack Ma, one of China’s most noted entrepreneurs, could be giving up control of Ant Group. This move would further separate the company from affiliate Alibaba after regulators in...
