Business

Chinese regulator orders Ant Group to conduct major overhaul

Chinese regulators have ordered Ant Group, a financial affiliate of e-commerce giant Alibaba Group Holding, to become a financial holding company to ease financial oversight amid stepped up scrutiny of technology firms.

Business

Bitcoin's rollercoaster ride

Virtual currency bitcoin—which broke the $20,000 barrier in trading for the first time Wednesday—morphed from an academic paper to one of the world's most closely-watched crypto currencies.

Business

US in no hurry to develop digital dollar: Fed's Powell

The US central bank is researching a possible cyber-dollar, but will move slowly to ensure it first addresses the risks of fraud and counterfeiting, Federal Reserve Chair Jerome Powell said Monday.

Business

Why is the ECB eyeing a 'digital euro'?

The European Central Bank will on Monday launch a public consultation and start experiments to help it decide whether to create a "digital euro" for the 19-nation currency club.

Business

Scandal-hit Wirecard files for insolvency

Stricken payments provider Wirecard said Thursday it is filing for insolvency, days after the high-profile German company admitted that 1.9 billion euros ($2.1 billion) were missing from its accounts.

Business

Philippines to probe links to German Wirecard scandal

The Philippines said Wednesday it will investigate links to the 1.9 billion-euro ($2.1-billion) Wirecard scandal, adding the European payment provider's ex-chief operating officer may be in the country.

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