News Snapshot:
(Bloomberg) -- China’s central bank has agreed to accept Ant Group Co.’s application to set up a financial holding company, Reuters reported, clearing a path for the fintech giant to potentially revive its listing plans following a lengthy regulatory overhaul. The People’s Bank of China’s acceptance signals that approvals are expected and Ant is poised to emerge from a regulatory crackdown, Reuters reported, citing people familiar with the matter. Shares in Alibaba Group Holding Ltd., which owns part of Ant, surged more than 9% in pre-market trading in New York. China Weighs Reviving Jack Ma’s Ant IPO as Crackdown Eases...
