January 23, 2021

Info IEC

Business & Finance Information

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SYDNEY—Google threatened to shut down its search engine in Australia if a proposed law requiring tech giants to pay publishers for news isn’t changed.

The warning escalates the long-running battle pitting the Alphabet Inc. unit and Facebook Inc. against the Australian government, whose efforts to compel tech companies to pay publishers is being widely watched globally and could offer a model for other countries. Last year, Facebook said it would restrict Australian users from sharing news articles on its platforms if the proposal became law.

The Australian code would require binding arbitration if publishers and the tech companies can’t reach

Thu, Jan 21, 2021 – 3:34 PM

[HONG KONG] The future of China’s financial super-apps has been thrown into question. The central bank is defining unhealthy dominance in specific market-share terms, while emphasising the separation of digital payments from interest-bearing accounts. That complicates efforts to cross-sell more profitable financial services and threatens Ant and Tencent’s business models.

Following Beijing’s abrupt crackdown on financial technology last year that derailed Ant’s US$37 billion initial public offering, the People’s Bank of China (PBOC) on Wednesday spelled out its competition concerns more precisely.

If a non-bank operator controls over half a market, it will

Tesla China-made Model 3 vehicles are seen during a delivery event at its factory in Shanghai, China January 7, 2020.

Aly Song | Reuters

BEIJING — A Tesla Model 3 exploded in an underground residential parking garage in Shanghai on Tuesday, Chinese media reported.

No people were injured in the fire, Tesla said in a statement to Chinese media. Preliminary analysis indicates the accident was caused by an impact to the underside of the car, the automaker added in the reports.

Tesla did not immediately respond to a CNBC request for comment. It was not immediately clear whether the

SINGAPORE Exchange (SGX)-backed digital securities platform iSTOX has raised US$50 million in Series A funding, with new Japanese government-backed investors added to its list of backers.

The new investors include the venture capital arm of Japan’s state-backed fund Japan Investment Corporation (JIC), as well as the Development Bank of Japan, a financial institution owned by the Japanese government, the fintech firm said on Thursday. Japanese commercial bank Juroku Bank and venture capital firm Mobile Internet Capital joined as new investors too.

Meanwhile, existing backers including SGX, Japan’s Tokai Tokyo Financial Holdings and Korea’s Hanwha Asset Management made fresh investments, iSTOX

When we speak of insurance, we are referring to dangers in all kinds. Other possible kinds for an insurance company embrace reciprocals , during which policyholders reciprocate in sharing dangers, and Lloyd’s organizations. Rewards can usually be utilized to your bank card steadiness or transferred to a checking account. Alternatively, some rewards applications will offer alternative incentives, akin to discounts on airline tickets and hotels by accruing journey factors or miles. Auto-Owners Insurance coverage operates within the following states: Alabama, Arizona, Arkansas, Colorado, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Minnesota, Missouri, Nebraska, North Carolina, North Dakota, Ohio, …

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undefinedEmbattled billionaire Jack Ma made his first public appearance in nearly three months, speaking via a video link at a philanthropic event on Wednesday, according to a Chinese media report.

Spokespersons for the Jack Ma Foundation and Ant Group Co., the financial-technology giant that Mr. Ma controls, confirmed the report.

“Jack Ma participated in the online ceremony of the annual Rural Teacher Initiative event on January 20,” the billionaire’s foundation said in a statement to The Wall Street Journal.

Alibaba’s Hong Kong-listed shares jumped on the news and were up 6% in Wednesday afternoon trading.

The event saw Mr.


RECENT moves by tech firms to acquire small Indonesian banks will add more colour to Asean’s financing landscape, but are unlikely to pose a material challenge to the biggest incumbent lenders in the near term, said Fitch Ratings.

This comes as fintechs are likely to…

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Richard Branson’s Virgin Orbit, with a rocket under the wing of a modified Boeing 747 jetliner, takes off for a key drop test of its high-altitude launch system for satellites from Mojave, California, July 10, 2019.

Mike Blake | Reuters

Virgin Orbit, the rocket company founded by billionaire Richard Branson, successfully put its first satellites into space using its novel air launch system.

The California-headquartered company said that 10 mini-satellites had been carried into space by the same rocket, which was launched from the wing of an old Boeing 747 jumbo jet as it flew over the Pacific Ocean.