Ant Group cut down to size in latest blow for Jack Ma's business empire
CNN
Jack Ma's business empire just suffered a one-two punch as China continues to tighten the screws on its tech champions.
Chinese regulators have ordered Ant Group, which owns the hugely popular Alipay app, to overhaul its operations and become a financial holding company supervised by the central bank. The announcement late on Monday came just days after Ma's online shopping giant Alibaba was hit with a record $2.8 billion antitrust fine. Monday's news, which had been widely anticipated, means that the Alibaba (BABA)-affiliated company will have to follow rules similar to those required of traditional Chinese banks. Ant Group's financial activities will be highly regulated, and it will likely have to follow new rules governing how much cash it keeps in reserve and how rapidly it can grow.
Deep within the Arctic Circle, pocketed between giant glaciers and beneath polar ice floes, photographer and content creator Cecilia Blomdahl finds extraordinary warmth.
The US Food and Drug Administration announced a proposal to remove oral phenylephrine – a common ingredient in many popular over-the-counter decongestants – from the market, citing evidence that it doesn’t work.
Researchers are uncovering deeper insights into how the human brain ages and what factors may be tied to successful cognitive aging ((is successful the best word to use? seems like we’ll all do it successfully but for some people it may be healthier or gentler or slower?)), including exercising, avoiding tobacco, speaking a second language or even playing a musical instrument.
Chanel presented its Cruise 2024-2025 collection in Hong Kong on Tuesday, with a mix of light tweed suits, chic diving hoods and summery white dresses transporting guests to what the French label described as an “underwater reverie.”
The holiday season is nearly upon us and it’s easy for a child’s sweet tooth go wild. However, new research shows that it may be beneficial to cut back how much sugar young children consume.
Kardashian debuted a cultural artifact at Saturday’s LACMA Art+Film Gala – a diamond-lined cross pendant, once a favorite of Princess Diana.
She has been a UNICEF ambassador, a special envoy for Japan’s Foreign Ministry and the subject of themed restaurants, cafes, two amusement parks and even a maternity hospital.
Robert F. Kennedy Jr. waded into another scientific debate on Saturday by saying Donald Trump’s administration would advise that fluoride be removed from the country’s water supplies if the former president wins Tuesday’s presidential election.
Scientists say the fact that these cases were linked and solved so quickly makes it a noteworthy win.
The most hotly anticipated costume of the spooky season is here — and the “Queen of Halloween” didn’t disappoint.