News Snapshot:
Summary Companies Ant likely to be fined at least 8 billion yuan - sources Announcement would mark end of fintech giant's regulator-driven overhaul Symbolic for tech industry that has chafed under regulatory crackdown Ant shelved its IPO in late 2020 Alibaba Honk Kong shares soar as much as 6.4% after news HONG KONG, July 7 (Reuters) - Chinese authorities are likely to announce a fine of at least 8 billion yuan ($1.1 billion) on Ant Group as soon as Friday, sources with direct knowledge of the matter said, bringing an end to the fintech company's years-long regulatory overhaul. The People's...
