China stops Ant Group’s major IPO
The Shanghai and Hong Kong double listing – the biggest equity debut in history – was postponed a day after Chinese regulators summoned Jack Ma and other executives from the financial technology giant.
The Shanghai Stock Exchange put a brake on Ant’s initial public offering, telling the company that the stock sale, which is expected to raise $ 37 billion, may no longer qualify for listing. On Monday, Chinese regulators invited company executives, including Alibaba co-founder Mr. Ma and Ant’s majority shareholder, to a meeting.
Neither the regulators nor Ant said in detail what was discussed at the meeting. Shortly after the Shanghai Stock Exchange’s announcement late Tuesday, Ant said the Hong Kong listing would also be suspended. The company apologized “for any inconvenience” to investors.
Context: The company’s Alipay payment app has more than 730 million users and also serves as a platform for small loans, insurance and investment products. However, competing against China’s financial institutions always involves risks. Ant’s future remains at the mercy of Chinese regulators.
US barrels approaching a virus record
The country is facing one of the most alarming periods of the pandemic. More than 93,000 cases were announced in the US on Monday, the second highest total number of pandemics.
More than 20 states have weekly case records, and more than 40 states are seeing a pattern of growing infections. In many hot spots in the Midwest, hospitals and healthcare systems are overwhelmed.
The surge came when the Trump administration’s coronavirus response coordinator, Dr. Deborah Birx, White House officials warned that the pandemic was entering a new and “deadly phase” that would require a more aggressive approach. In a private memo, she suggested that President Trump and his advisors should focus more on fighting the virus and less on preventing lockdowns.
Here are the latest updates and maps of the pandemic.
In other developments:
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In Hong Kong, all travelers arriving from outside mainland China must be quarantined in a hotel for 14 days from November 13th.
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The UK will conduct its first citywide tests in Liverpool, which have been badly hit by the virus.
If you have 5 minutes, it’s worth it
China envisions a new Hong Kong
Low taxes. Duty free shopping. Sandy beaches. Beijing wants to turn Hainan Province, an island in the South China Sea, into a shopping and finance mecca and destination for global corporations.
If that sounds familiar, it’s because China already has such a place: Hong Kong. Building Hainan as a low-tax and low-regulation haven will be a difficult task and Beijing will not give up control.
The following also happens
Indonesia job bill: President Joko Widodo signed a bill aimed at eliminating occupational safety and environmental protection. Presented as a stimulus package, the law removes mandatory days off for workers and allows companies to replace full-time workers with cheaper contract workers. Hundreds of thousands of Indonesians took to the streets in protest last month.
Austria attack: A man who opened fire in the center of Vienna on Monday evening, killing four people and wounding 22 others, wanted to travel to Syria to join the Islamic State, the Austrian interior minister said. The shooter was killed nine minutes after the attack began.
Media in Hong Kong: Police arrested Choy Yuk-ling, an award-winning journalist whose work exposed the authorities’ belated response to a mob attack on anti-government protesters last year. The arrest heightened concerns about crackdown on press freedom in Hong Kong.
What we read: This thirty-five guide will tell you when to expect results from each state in the US presidential election.
Now a break from the news
Cook: This election cake is part of a rich tradition in the United States that dates back to the 18th century. The recipe starts with a yeast dough topped with raisins and pecans and flavored with cinnamon, cloves, nutmeg and mace.
Clock: How To With John Wilson has no stars or any traditional story, and its main character, John Wilson, remains off-screen. The HBO series is “poignant, funny and up-to-date,” writes our comedy columnist.
Do: Food has become a focal point at weddings. This is how you serve your guests safely at your reception.
Time at home is time for reading, cooking, watching, and having fun activities. In our “At home” section you will find ideas that will keep you busy.
And now for the background story about …
The importance of calming down
Can’t you concentrate Lose sleep? Binge-eating your feelings? Whether because of bans or elections, people around the world are nervous. Here are some tips from our Well editor on how to let go of fear and gain perspective. Hopefully they will help you calm down a little.
Interrupt yourself. Try to practice “self-interruption” when you feel your anxiety increase. To go for a walk. Call a friend. Run an errand. “I think people really need to move away from their location and break the momentum,” said one meditation teacher.
Move around for three minutes. Kelly McGonigal, a health psychologist and lecturer at Stanford University whose latest book is “The Joy of Movement,” only takes a short exercise – three minutes to be precise – to improve your mood. Jump. Stand and box. Doing pushups on the wall. To dance.
Take on a home project. Clean up clutter, make a scrapbook, get a new duvet, hang artwork.
Unleash the flavors. Take a lavender foot bath, burn a scented candle, or splash the air with orange aromatherapy. A study of 141 pregnant women found that rubbing or soaking their feet with lavender cream significantly reduced anxiety, stress, and depression. Lavender baths lower cortisol levels in infants.
That’s it for this briefing. Until next time.
– Melina
Many thanks
Carole Landry helped write this briefing. Theodore Kim and Jahaan Singh took the break from the news. You can reach the team at [email protected].
PS
• We listen to “The Daily”. Today is our election day live broadcast – tune in at 4 p.m. East or 8 a.m. Sydney.
• Here is our mini crossword puzzle and a clue: Election Day annex (five letters). You can find all of our puzzles here.
• Image editor Sandra Stevenson, who sometimes works on this newsletter, spoke about her role as a photographer at PBS Voices.
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