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The Chinese government could reshape Ant Group’s business, Tesla plans to launch in India next year and the FAA announces a new ID requirement for drones. This is your Daily Crunch for December 28, 2020. | | | |
Less than two months ago, Chinese authorities halted the planned IPO of Ant Group, the payments and fintech company that spun out of Alibaba nearly a decade earlier. Now the government has laid out a plan for how Ant Group can become compliant and presumably go public, with steps including a renewed focus on payments, obtaining necessary licenses for its credit business, establishing a financial holding company, revamping several of its other business lines (credit, insurance, wealth management) and increasing compliance for its securities business. Meanwhile, Chinese authorities are also investigating Alibaba over antitrust concerns. The crackdown is prompting global investors to unload their Chinese tech stocks. Read more | | Image Credits: Chesnot / Getty Images | | |
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| Image Credits: Mason Trinca for The Washington Post / Getty Images | | |
| Image Credits: Klaus Vedfelt / Getty Images | | |
| Image Credits: Nigel Sussman | | |
| Image Credits: Sean Gallup / Getty Images under a Getty Images license. | | |
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