Ant Group, Alibaba’s financial technology affiliate, has applied to become a financial holding company that will be subject to more stringent rules and requirements, according to China’s central bank. Ant, China’s biggest online financial services platform controlled by Alibaba founder Jack Ma, will be regulated more like a bank than a tech company. People’s Bank of China announced the plans...
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Musk Puts $20 Billion Value on Twitter
Elon Musk offered Twitter employees stock grants at a valuation of roughly $20 billion, said a person familiar with an email Musk sent to staff, less than half what he paid to buy the company. It was a concrete acknowledgment of how much Twitter’s value has dropped since the deal—but it is still well above public market valuation levels for Twitter’s rivals. As Musk has...
Twitter Valued at $20 Billion in New Employee Stock Grant
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