seeks

Jack Ma’s Ant Seeks $200 Billion Value in Landmark Dual IPO

(Bloomberg) —

Billionaire Jack Ma’s Ant Group is seeking a valuation north of $200 billion as it goes public in Hong Kong and Shanghai, people familiar with the matter said, kicking off a much-anticipated market debut for China’s leader in internet finance.

The parent of China’s largest mobile payment company will pursue a simultaneous dual-listing in Hong Kong and on the Shanghai stock exchange’s STAR board, the Hangzhou-based firm said, in what promises to be one of the largest debuts in years. Ant is already more richly valued than most Wall Street firms and, if conditions are favorable, it could seek to raise more in its IPOs than Saudi Aramco’s record $29 billion haul, one of the people said, asking not to be identified talking about a private deal.

The crown jewel of the sprawling Alibaba empire, Ant has been accelerating its evolution into an online mall for everything from

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EBay Seeks To Retain Stake in Classifieds Unit, Challenging Prosus Bid; Top Analyst Raises PT

EBay Inc. (EBAY) reportedly prefers to keep a stake in the classified advertising unit it’s selling, reducing the odds that Prosus NV will win the hotly-contested auction.

The decision made at a board meeting on Friday gives a surprise likelihood to a bid from Norwegian online marketplace Adevinta ASA, which offered a mix of cash and stock and would leave EBay with a significant stake in the combined business, Bloomberg reported. A combination of the classifieds unit with the listed Scandinavian firm would also allow EBay to benefit from any future increase in the shares.

Separately, a private equity consortium backed by Blackstone Group Inc. (BX), Permira and Hellman & Friedman has been interested in the unit and also offered to let EBay keep a minority stake.

Until as recently as Friday, Naspers Ltd.-owned Prosus was considered to be the front runner for a deal after

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Loss of international students could damage US economy, experts say, as Trump seeks visa restrictions

The world of higher education, already struggling to cope amid the COVID-19 pandemic, was rocked last week when the Trump administration issued a regulation that would prevent international students from entering the country in addition to compelling thousands already in the U.S. to leave if enrolled in schools that plan to teach exclusively online in the fall.

“These students and their families have invested so much hope and money — in some cases, their families’ life savings — to get an American education,” Kavita Daiya, an associate professor of English at George Washington University, told ABC News. “By being here, they bring so much talent and knowledge to our communities. To force them to leave is to betray the promise of opportunity and fairness that undergirds American higher education.”

It could also cost the U.S. tens of billions of dollars and thousands of jobs.

MORE: Harvard, MIT sue Trump administration

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How the U.S. seeks to protect children’s privacy online

WASHINGTON (Reuters) – TikTok is under investigation for allegedly violating a settlement reached with U.S. authorities last year that resolved charges the popular app broke rules governing how children’s personal information is treated online.

The U.S. Federal Trade Commission, which enforces the Children’s Online Privacy Protection Act, or COPPA, and the Justice Department, which often files court actions for the FTC, have opened a preliminary investigation into the matter involving the China-based video-sharing app.

Under rules dating to 1998 legislation, COPPA requires websites to get parental permission to collect data on children under the age of 13. Websites or online services are also expected to ban third parties from collecting the data.

COPPA also applies to mobile apps, gaming platforms and internet-connected toys, among others.

Under pressure from the FTC, TikTok, owned by China’s ByteDance, agreed in early 2019 to pay a $5.7 million civil penalty for violating COPPA by

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