China plans to break up Ant’s Alipay and force creation of separate loans app – FT

Sept 12 (Reuters) – Beijing wants to break up Alipay, the hugely popular payments app owned by Jack Ma’s Ant Group, and create a separate app for the company’s highly profitable loans business, the Financial Times reported on Sunday.

The plan will also see Ant turn over the user data that underpins its lending decisions to a new credit scoring joint-venture, which will be partly state-owned, the newspaper reported, citing two people familiar with the process.

State-backed firms are set to take a sizeable stake in Ant’s credit-scoring joint venture for the first time, three people told Reuters last week.

An Alipay sign at the Shanghai office of Alipay, owned by Ant Group, an affiliate of Chinese e-commerce giant Alibaba, in Shanghai, China, September 14, 2020. REUTERS/Aly Song/File Photo

The partners plan to establish a personal credit-scoring firm wherein Ant and Zhejiang Tourism Investment Group Co Ltd (ZJGVTT.UL) will each

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Judge Rules Massive Blow Against Apple’s App Store Business

  • The judge in the case between “Fortnite” maker Epic Games and Apple issued a ruling on Friday.
  • Apple must allow app makers the ability to monetize their apps without paying Apple.
  • Epic has to pay Apple over $3.5 million in owed royalties, and still can’t charge users directly in apps.

The end of the months-long legal saga between Apple and “Fortnite” maker

Epic Games
finally came on Friday when Judge Yvonne Gonzalez Rogers issued a ruling with bad news for both parties — and a major blow to Apple’s App Store business.

In Apple’s case, the App Store is being forced to allow app makers the ability to link out and sell items directly to their users via external payment methods. That means app makers will be allowed to directly link out to alternative ways for purchasing, giving them a new way to avoid App Store

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Instagram acknowledges app can harm teens’ self-esteem in response to report

Facebook recognizes how harmful its photo-sharing app, Instagram, can be for teen girls’ self-esteem, according to company documents obtained by The Wall Street Journal.

Researchers tapped by the tech giant to examine the app’s impact on young users’ mental health over the past three years found that 32% of teen girls who “felt bad about their bodies” said Instagram made the issue worse, according to WSJ.

Karina Newton, Instagram’s head of public policy, said in a Tuesday blog post that it stands by the research, which demonstrates the company’s “commitment to understanding complex and difficult issues young people may struggle with, and informs all the work” Instagram does “to help those experiencing these issues.”

“We’re proud that our app can give voice to those who have been marginalized, that it

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Apple, US developers agree to App Store updates

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