Bury that hatchet
Chinese stocks rallied this week after the China Securities Regulatory Commission, Beijing’s market regulator, called for closer co-operation with the US. It stressed the country’s efforts to improve transparency and predictability after a crackdown on tutoring groups obliterated the market value of the $100bn sector’s biggest companies. Last week, the US Securities & Exchange Commission declared that Chinese groups seeking to sell shares in the US would be subject to stricter disclosures.
Payments company Square has reached a deal to buy Australian "buy now, pay later" provider Afterpay in an all-stock deal worth about $29bn. The offer represents a 30% premium based on the recent closing prices for both companies, and the deal will be the largest in Australian history. The deal underscores the huge appetite for "buy now, pay later" providers, which have boomed during the pandemic.
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