China’s Ant Financial Buys UK Payments Company WorldFirst

Article 0 Comments Ant Financial, the Chinese financial services giant controlled by billionaire Jack Ma, bought London-based payments company WorldFirst in its biggest overseas deal since a U.S. expansion was thwarted. The acquisition marks the Chinese company’s first big move into the U.K., although its Alipay service is accepted by […]

Chinese Tech Firms Seek to Shake Up Stake-Run Health Sector with AI and Big Data

Article 0 Comments In the eastern Chinese city of Hangzhou, an ambulance speeds through traffic on a wave of green lights, helped along by an artificial intelligence (AI) system and big data. The system, which involves sending information to a centralized computer linked to the city’s transport networks, is part […]

Explaning Ant Financial’s $150B Valuation – and Investor Enthusiasm for China Tech

Article 0 Comments Ant Financial’s rapid climb to become the world’s biggest super unicorn valued by some investors at around $150 billion showcases investor enthusiasm for the biggest Chinese tech companies and also how quickly valuations can shift. Just two months ago, bankers and investors were tentatively talking of a […]

China’s Ant Financial Targets at Least $8B in Investor Funding: Sources

Article 0 Comments China’s Ant Financial Services Group is in talks with investors to boost its fundraising target to at least $8 billion, which could see its valuation jumping to about $150 billion, people with knowledge of the plan said. Singapore state investor Temasek Holdings is likely to be the […]

SoftBank Borrows $8B, Backed by Its Stake in Alibaba, Say Sources

Article 0 Comments SoftBank Group Corp. borrowed about $8 billion through a margin loan backed by its Alibaba Group Holding Ltd. stake as the Japanese technology giant aims to bolster its financial flexibility, according to people familiar with the matter. The loan, guaranteed only by the Alibaba holding, won’t be […]