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Shanghai Stock Exchange Holds Up Ant Group IPO Following Regulators' Questioning

PYMNTS

The Shanghai Stock Exchange is delaying Ant Group’s record initial public offering (IPO) following Jack Ma’s meeting with Chinese regulators, according to a Wall Street Journal (WSJ) report on Tuesday (Nov. Ant was founded in 2004 as Alibaba's payments processor. That meeting now disqualifies Ant from listing on Thursday (Nov.

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Report: Alibaba’s Ant Group Plans Hong Kong IPO At $200B+

PYMNTS

Based in Hangzhou, China, the company operates Alipay, an online payment service that debuted in 2004 and has evolved into the world’s largest payment and lifestyle platform, the company said. The Alibaba affiliate decided its name was due for an overhaul as the big FinTech began attracting growing scrutiny from China’s financial watchdogs.

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Discover Names Roger Hochschild As Chief Executive

PYMNTS

Nelms, who has been the CEO of Discover since 2004, plans to retire in 2019 and will continue as executive chairman until that point, according to the report. Hochschild, 53, who has been president of the card company since 2004, will retain the title of president, and has been named to the company’s board of directors.

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OCC files to motion to dismiss CSBS lawsuit seeking to block OCC approval of Figure Technologies charter application

CFPB Monitor

The lawsuit represents CSBS’s third challenge to the OCC’s authority to issue special purpose national bank (SPNB) charters to non-depository fintech companies. In the third complaint, CSBS also asks the court to declare that the OCC’s preemption regulations (12 C.F.R. CSBS’s challenge to the preemption regulations is time-barred.

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Tencent Net Income Rises Despite Slow Sales, Economy In China

PYMNTS

Tencent, China’s popular online and entertainment company, saw its slowest sales growth since it went public in 2004, as it battled a sputtering economy and tried to revitalize a gaming division that’s seen some setbacks, according to a report by Bloomberg. The fact that the country is still in a fight with the U.S. over trade has not helped.

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Sizzle/Fizzle: AI Soars, Toys R Us Sinks And Start-Ups Struggle

PYMNTS

Across the pond, estimates Innovate Finance and Pitchbook, the B2B FinTech market has gotten nearly half of all FinTech funding in the European Union through the past year. The European Union is also gearing up to promote new, continent-wide mandates that would promote FinTech growth and investments, especially post-Brexit.

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Data Enablers: Valen Makes Insurance Human Again

PYMNTS

Like FinTech, InsurTech debuts in an industry that has historically been very slow to adopt new technologies. DC: There is significant crossover between FinTech and InsurTech. Both are in heavily regulated industries that have historically been very slow to adopt new technologies.

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