Alibaba founder Jack Ma has long been celebrated in China for his successful entrepreneurship that has made him that country’s richest individual. More recently, however, his troubles with the Chinese government led that country’s media to dub him an “evil capitalist” and “bloodsucking ghost.” Last week, China opened an antitrust probe into Alibaba and is investigating Ant Group, a fintech company Ma spun out of Alibaba. After nixing that company’s IPO, China is now telling Ma to fix its many perceived flaws. Continue reading Chinese Regulators Rein in Jack Ma’s Alibaba and Ant Group

In the next few weeks, Apple and Goldman Sachs Group will issue a joint credit card for testing to employees, for a launch later in 2019. The card will offer consumers features on Apple’s Wallet app that will allow them to track their balances and rewards as well as set spending goals, said sources. With the card, Apple makes a major move into iPhone users’ finances. For Goldman Sachs, the card is part of a strategy to appeal to ordinary consumers. Neither company, however, has much experience in this arena. Continue reading Apple, Goldman Sachs Issue Credit Card Linked to iPhones