Reuters reported last week that the Biden administration was investigating whether Alibaba’s cloud business represents a potential risk to US national security.
The probe represents a real threat to Alibaba’s rapidly growing cloud business. Alibaba is already the world’s fourth-largest cloud provider, with some 4 million customers. Last week, a state-owned financial institution unexpectedly pulled out of a deal to invest in Ant’s consumer lending business. In December, Chongqing Ant said it was doing a $US3.5 billion capital raising, with Cinda contributing almost a quarter of the funds. The capital raising would have boosted Chongqing Ant’s balance sheet, clearing the way for it to take over Ant Group’s existing consumer lending portfolio.
Officials had been worried that the size of the fund, which serves hundreds of millions of small investors and at one stage boasted more than $US180 billion in funds under management, posed a potential risk to China’s financial system.
Only one outcome is allowed: the CCP remains undefeated in its war against business.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Sanders: ‘anti-democratic’ Republicans to blame for Biden woes, not just Manchin and SinemaSenator confirms he will campaign against moderate Democrats if they face primary challenges
Source: GuardianAus - 🏆 1. / 98 Read more »
Small wonders: Urban microfarmers a growing phenomenonUrban farming may not resolve all of the world's food production woes, but it's likely to form part of the solution and an increasing number of Australians are answering the call. A small Farmer nurtures His Land a Corporate Farmer does not !!! I wonder how councils would view this? Or the police? It would be a great cover for growing another popular indoor plant...
Source: abcnews - 🏆 5. / 83 Read more »
NSW extends COVID-19 restrictions for another month as hospitalisations increaseNSW has extended its restrictions for another month as hospitalisations continue to surge. Only stopping direct contact can truly stop coronavirus spread! Use free BostApp instead to safely communicate with people around. Download for free at Apple & Google Two years and not one new hospital bed. LOL But have you seen our vaccination rate? any running total on other deaths? road accidents, cancer & etc please?
Source: SBSNews - 🏆 3. / 89 Read more »
Kyrgios, Kokkinakis continue dream doubles run at Australian OpenNick Kyrgios and Thanasi Kokkinakis storm into the quarterfinals of the men's doubles draw in front of another raucous crowd at Melbourne Park. Great combo, fantastic match. CGWJS54139911 Great tennis and very entertaining. Having fun and burning up the court! Special K’s
Source: abcnews - 🏆 5. / 83 Read more »
Surrendered Hong Kong hamster tests positive for Covid as cull continuesThe case is the first involving a hamster in the care of an owner following pet shop outbreak a handful of hamsters tested positive when 2200 are culled Who trusts the ccp?
Source: GuardianAus - 🏆 1. / 98 Read more »
We have an Australia Day meat shortage thanks to COVID-19, but it was entirely preventableAustralia Day barbecues are under threat as Omicron infections continue to cripple meat-processing operations, but this was an entirely predictable crisis that employers and government should have seen it coming. Probably very appropriate that Australia Day is about eating dead body parts. Thanks covid 19, now how am I going to survive 🤔 A perfect time to readjust and become vegetarian
Source: abcnews - 🏆 5. / 83 Read more »