Ant Financial said it paid MoneyGram a $30 million termination fee for the deal’s collapse. Reporting by Greg Roumeliotis in New York; Additional reporting by Nikhil Subba and Vibhuti Sharma in Bengaluru, Philip Wen in…
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Beijing to build $2 billion research park as China races to world dominance in AI
Beijing announced plans to build a $2.12 billion AI research park Wednesday. With spots for 400 enterprises, the park may help China towards its goal of dominating the global AI market by 2025. Beijing is…
China’s growth objectives clash with financial stability goal: IMF
Sources have told Reuters that China is likely to keep this year’s GDP growth target of “around 6.5 percent” in 2018 even as Beijing steps up a campaign, now in its second year, to control…
China Mobile Ltd. (ADR) is Too Cheap to Ignore
Shares of China Mobile (NYSE: CHL), the biggest wireless carrier in China, fell 4% in 2017 on concerns about a seasonal slowdown in its revenue and earnings, exacerbated by higher capex for its 5G expansion.…
China isn’t taking Alibaba’s latest rejection very well
Even companies belonging to China’s golden business billionaire, Jack Ma. In fact, the Trump administration has been making companies reapply, and put up a bunch of hurdles for people that never expected them. One of…
Get smarter – tellers must adapt as Chinese customers embrace digital banking services
“I see less service counters but more machines instead now,” she said. The branch she visits is one of the Beijing-based bank’s 13,000 branches – more than 80 per cent of its total network in…
Beijing to build $2 billion AI research park: Xinhua
BEIJING (Reuters) – Beijing is planning to build a 13.8 billion yuan ($2.12 billion) artificial intelligence development park in the city’s west, the official Xinhua news agency reported, as China pushes ahead to fulfill its…
China’s Ant Financial drops MoneyGram deal as US approval fails
Ant Financial, an affiliate of Chinese internet titan Alibaba, has been forced to abandon a $1.2 billion deal to buy US remittances firm MoneyGram after failing to get approval from regulators in Washington. The decision…
China central bank can tell local governments to regulate bitcoin miners’ power use: source
BEIJING (Reuters) – China’s central bank told a top-level government internet … The PBOC could not be reached for immediate comment outside business hours. ( read original story …)
China to boost intellectual property protection: state media
The council also said during a meeting chaired by Premier Li Keqiang it would improve the business environment for companies in China, according to the report. ( read original story …)
Beijing records best air quality in five years in 2017
Air quality in China’s notoriously smog-ridden capital in 2017 was the best since pollution control measures were implemented five years ago, the Beijing government announced Wednesday. The city met its targets with year-on-year “improvement of…
Beijing meets 2017 air pollution target set under 2013 clean-up plan
BEIJING (Reuters) – China’s smog-prone capital Beijing met its air quality targets last year following a crackdown on polluters and a sustained period of favorable weather, the local environmental agency said in a statement on…
US blocks sale of Moneygram to China’s Ant Financial
The US has blocked the $1.2bn (£880m) sale of money transfer firm Moneygram to China’s Ant Financial, the digital payments arm of Alibaba. It is the highest profile Chinese deal to be rejected by Washington…
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