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China State-Backed Group Canceled Ant Deal Due to Government Pressure

A Chinese state-backed financial group canceled a deal to acquire a minority stake in a unit of financial technology giant Ant Group due to pressure from government authorities, Reuters reported. The revelation highlights how Ant still remains a target for Chinese officials amid a wider crackdown on the sector. The investment would have helped Ant restructure its operations after Chinese...

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SEC Probes Whether SoftBank-Backed Messaging App Misled Investors
Abraham Shafi, CEO of IRL (left), and Masayoshi Son, CEO of Softbank.
The Securities and Exchange Commission has been investigating whether SoftBank-backed messaging app IRL violated securities laws, including in the way the startup described its business performance during talks with investors, according to people with knowledge of the situation. The SEC investigation began after The Information reported in May that some IRL employees had expressed concern to...
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Amazon Adds Four Executives to CEO Andy Jassy’s S-Team
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startups venture capital
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The 1:1 policy
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Exclusive microsoft
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