With the goal of disrupting the banking business in China and making it easier for small businesses to get loans, Alibaba co-founder Jack Ma created Ant Group. Now, the Alibaba spinoff is set to raise $34 billion by selling shares in Hong Kong and Shanghai in what is expected to be the largest initial public offering (IPO) on record. After the IPO, the company will be worth around $310 billion. At its size, Ant is a target for Chinese regulators at the same time that some government funds are Ant shareholders. Continue reading Alibaba Spinoff Ant Group Preps for a Record $34 Billion IPO

Although the White House has banned U.S. companies from selling technology to Huawei Technologies, some chipmakers, including Intel and Micron, are doing so by labeling goods produced overseas as not being “American-made.” The ban actually begins in mid-August, and U.S. suppliers, their attorneys and the Trump administration are mulling over if and how the ban impacts current sales. Meanwhile, FedEx has filed a lawsuit against the U.S., saying it cannot police the millions of packages it sends. Continue reading Firms Test Limits of Commerce Department Ban on Huawei