China’s Ant Group Co Ltd is planning to refashion itself as a financial holding company under the supervision of China’s central bank in the face of regulatory pressure, the Wall Street Journal reported on Wednesday. The fintech affiliate of Alibaba Group Holding Ltd has submitted an outline of a restructuring plan, which could be finalised before China goes into the week-long lunar new year holiday in mid-February, the Wall Street Journal said, citing sources. Chinese regulators had asked Ant to consider folding up most of its financial businesses into a holding company that would be subject to more stringent capital requirements, two sources told Reuters in December. The country’s central bank, People’s Bank of China, has said Ant controls a range of financial institutions, including sec...
The U.S. Senate on Friday confirmed President Joe Biden’s nominee, retired Army General Lloyd Austin, to serve as Secretary of Defense – the first Black American in the role. The vote was an overwhelming 90-2 in the 100-member chamber, far more than the simple majority needed. Lawmakers from both parties said they were pleased that Austin would be installed to lead the Pentagon just two days after Biden was sworn in as president on Wednesday. Senator Jack Reed, the incoming Democratic chairman of the Senate Armed Services Committee, noted the wide range of challenges facing the country – including the coronavirus pandemic and competition with China and Russia. “General Austin is an exceptionally qualified leader with a long and distinguished career in the U.S. military,” Reed said before t...
Britain is worried about the safety of Kremlin critic Alexei Navalny after he was detained on return to Moscow, British Vaccine Deployment Minister Nadhim Zahawi said on Monday. Russian police detained Navalny on arrival in Moscow on Sunday after he flew home to Russia from Germany for the first time since he was poisoned last summer. “The Foreign Secretary will say more about this, but we are very worried about the wellbeing and safety of Alexei Navalny. And of course, we have to make sure that the Russian government answers why a poison was used against Alexei Navalny,” Zahawi told Sky. Reporting by Guy Faulconbridge and Kate Holton, editing by Sarah Young Get more stories like this on Twitter You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a d...
Uganda’s long-time leader Yoweri Museveni held a commanding lead in a presidential election according to partial results on Saturday morning, with final results expected later in the day, though his main rival Bobi Wine alleged widespread fraud. With ballots from 86% of polling stations counted, Museveni had won 5.3 million, or 58.8%, while main opposition candidate Wine had 3.1 million votes (34.6%), the electoral commission said just after 9 a.m. (0600 GMT). The government ordered the internet to be shut down the day before voting on Thursday, and the blackout was still in place. Wine, 38, had galvanised young Ugandans with his calls for political change after 35 years of Museveni, 76, ruling the country. The run-up to the election was more violent than in previous polls. Security forces...
France to tighten legislation on incest – president
France will tighten its laws on incest, President Emmanuel Macron said in a series of tweets on Saturday, after publication of a book accusing a top French political commentator of abusing his stepson sparked outrage across the country. Macron said on his Twitter account that France needs to adapt its laws to better protect children from sexual violence and he had asked the justice minister to chair a consultation aimed at quickly making legislative proposals. “We will go after the aggressors,” Macron said. Macron said France had already increased the statute of limitations on incest to 30 years, counted from the legal age of majority of the victim, and had tightened controls on people working with children, but he said much more needed to be done. He said that as part of current routine m...