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…
FINANCE
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…
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…
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…
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…
China Seen Raising Money Market Rates Three Times This Year
China’s central bank will make modest increases in money-market rates in 2018 as it aims to keep up the pressure on deleveraging and prevent too much divergence with U.S. policy, according to a Bloomberg survey.…
U.S. blocks MoneyGram sale to China’s Ant Financial
(Reuters) – A U.S. government panel rejected Ant Financial’s acquisition of MoneyGram International Inc over national security concerns, the companies said on Tuesday, the most high-profile Chinese deal to be torpedoed under the administration of…
U.S. Bars Merger of MoneyGram, China’s Ant Financial
An American national-security panel refused to approve a deal for Chinese billionaire Jack Ma’s Ant Financial Services Group to buy MoneyGram International Inc., the companies said Tuesday, in the latest sign the U.S. is tightening…
U.S. shoots down MoneyGram’s sale to China’s Ant Financial
(Reuters) – A U.S. government panel rejected Ant Financial’s acquisition of MoneyGram International Inc (MGI.O) over national security concerns, the companies said on Tuesday, the latest Chinese deal torpedoed under the administration of U.S. President…
China targets trust industry next year in fight against shadow banking: sources
China’s banking regulator will further tighten the screws on the trust industry next year, two sources with direct knowledge of the matter said, as Beijing steps up a campaign to clampdown on the country’s shadow…
Special Report: China’s leaders fret over debts lurking in shadow banking system
SHANGHAI/BEIJING/HONG KONG (Reuters) – In March 2013, retired chemical company employee Anne Xing, her older sister and their husbands visited a China Everbright Bank branch on the outskirts of Shanghai. A private wealth manager at…
BRIEF-China Shandong Hi-Speed Financial Group Announces Subscription Of Shares
Jan 2 (Reuters) – China Shandong Hi-Speed Financial Group Ltd: * ANNOUNCES ACQUISITION AND SUBSCRIPTION OF AN AGGREGATE OF 60% SHARES IN KUN PENG Source text for Eikon: Further company coverage: Our Standards:The Thomson Reuters…
ADVERTISEMENT
