Jack Ma’s Ant to Apply for Key License as Soon as This Month

The People’s Bank of China intends to accept Ant’s application to become a financial holding company once it’s submitted and will then start a review process, which could take months, said the people, asking not to be identified discussing a private matter. Officials will examine Ant’s capital strength and business plans, as well as the … Read more

Ex-Bankers’ Study-Abroad Startup Nears $ 1 Billion Unicorn Status

Owl Ventures led the round, with Steadview Capital and Paramark Ventures as well as existing investors Jungle Ventures and Sequoia Capital India participating, the company, known by its brand name Leap, said Wednesday in a statement. Its valuation has doubled since a September fundraising and is nearing $ 1 billion, co-founder Vaibhav Singh, 37, said … Read more

Bitcoin Holds Above $ 20,000 After Week of Forced Crypto Selling

Marcus Sotiriou, an analyst at GlobalBlock, pointed to the Glassnode data to say that “a macro bottom, or temporary bottom, could be close,” according to a note on Monday. Altcoins have not suffered the same “cascade in liquidations” as Bitcoin and Ether, which are the tokens primarily used as collateral for leveraged positions, he said.

Bitcoin’s Ferocious Selloff Pauses as Crypto Enjoys and Bounce

(Bloomberg) – Bitcoin snapped a 12-day slide, taking a breather to bounce along with the rest of the cryptocurrency market after a record-breaking string of declines. Analysts cautioned the respite may be brief. The world’s largest cryptocurrency climbed as much as 12% early Sunday, recouping some of its losses from a steep drop Saturday that … Read more

AI’s Hold Over Humans Is Starting to Get Stronger

(Bloomberg Opinion) – It has been an exasperating week for computer scientists. They’ve been falling over each other to publicly denounce claims from Google engineer Blake Lemoine, chronicled in a Washington Post report, that his employer’s language-predicting system was sentient and deserved all of the rights associated with consciousness.

If You’re Thinking of Taking Fridays Off This Summer, You’re Not Alone

“In a tight labor market with fierce competition for talent, but also rising input costs, many businesses have raised wages as much as they feel they can afford and are looking for non-monetary ways to appeal to candidates,” said Julia Pollak, ZipRecruiter’s chief economist. Offering Fridays off in the summer months appeals to job-seekers, she … Read more

Sheryl Sandberg’s Wedding Expenses Are the Least of Facebook’s Sheryl Sandberg Problems

(Bloomberg Businessweek) – For an entrepreneur who has made “community” his life’s mission, Mark Zuckerberg has always seemed oddly fixated on managing his own appearance. There was his decision to hire Barack Obama’s former campaign manager ahead of a weird pseudo-political bus tour in which he was attended by a flock of handlers and a … Read more

Ambani Let Cricket League’s TV Rights Go in Favor of Streaming

The joint venture between Ambani’s Reliance Industries Ltd. and US media giant Paramount Global instead focused on winning the rights to digitally stream the lucrative Indian Premier League, betting its advertising revenue will be four-fold bigger than that for TV in five years, a person familiar with the group’s strategy said. The view was that … Read more

Crypto’s Excruciating Week Has Traders Bracing For Next Crisis

As the dust settled at the end of the week, the damage was startling. Bitcoin has fallen for 11 straight days, its longest ever sustained slump. It’s currently hovering above the $ 20,000 level, a loss of more than 70% from its highs in November when it was approaching $ 70,000. Ether is struggling to … Read more