Ant Group on Saturday announced a share repurchase plan that values the fintech giant at 567.1 billion yuan ($78.54 billion), as the management seeks to replenish its staff incentive pool and let some ... ( read original story ...)
Tesla Inc. cuts battery production workforce in Shanghai amid fierce price war in China, suggests report
Tesla has reportedly initiated layoffs of battery production workers at its Shanghai plant due to a challenging price war in China's car industry. The exact number of affected workers and reasons for ... ( read original story ...)
Ant Group gets ‘very manageable’ $984 million fine as China ends tech crackdown that thwarted world’s biggest IPO
it may take longer than anticipated to resume an IPO. Companies can’t list domestically on the country’s so-called A-share market if they have had a change in control in the past three years — or in ... ( read original story ...)
Alibaba’s Ant Group Accepts Fine, Could An IPO Be Next, Week In Review
Asian equities ended a down week lower in advance of US employment data this morning. ( read original story ...)
China Ends Tech Crackdown With Fines on Tencent, Ant Group
Chinese regulators imposed more than $1 billion in fines on tech giants Ant Group Co. and Tencent Holdings Ltd., signalling an end to a crackdown on the sector that had wiped out billions in market ... ( read original story ...)
Tesla is laying off a bunch of its Shanghai Gigafactory workers, weeks after Elon Musk visited and praised their hard work
Tesla is laying off some staff at its Shanghai factory, per Bloomberg. Elon Musk recently visited this location and praised staff for their hard work. ( read original story ...)
17th Shanghai international youth friendship camp kicks off in China
The 17th Shanghai International Youth Interactive Friendship Camp kicked off on Friday in Shanghai, with nearly 70 campers from 11 countries including Australia, Bolivia, Hungary, Italy, Japan, Nepal, New Zealand, the US and China participating ... ( read original story ...)