China’s banking authorities approved Jack Ma’s Ant Group’s application to set up a consumer finance company, a major milestone in the restructuring of the massive online financial group after regulators suddenly pulled the plug on its IPO late last year. Ant will control half of the new entity, with six other partners owning the rest. One of the key reasons for the halt of the IPO was worry...
Jack Ma’s Ant Group Gets Approval to Launch Consumer Finance Company
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Alphabet’s self-driving car subsidiary Waymo on Wednesday said it raised $2.5 billion from investors, with an asterisk: Alphabet was the lead investor in the round, according to a person familiar with the deal. In Silicon Valley, the lead designation usually belongs to the party that contributed half of the total amount in the round. So either Alphabet CFO Ruth Porat wanted to make sure...
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