Ant’s consumer finance unit to boost its capital to $4.7 billion

BEIJING (Reuters) – The consumer finance unit of China’s Ant Group will boost the company’s capital to 30 billion yuan ($4.71 billion) from 8 billion yuan, and introduce 4 new strategic investors, an exchange filing released on Friday said.

The unit, Chongqing Ant Consumer Finance Co Ltd, is under regulatory pressure to fold Ant’s two lucrative micro-loan businesses Jiebei and Huabei into it, which would make it subject to rules and capital requirements similar to those for banks.

China Cinda Asset Management, one of company’s new investors and one of the country’s four biggest state asset managers, said it will invest 6 billion yuan as part of the exercise.

After the deal, China Cinda will become the second biggest shareholder with a 24% stake in the consumer financing unit, including a 20% stake it holds directly and a 4% stake held by Nanyang Commercial Bank Ltd, a Cinda subsidiary.


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The Worldwide Big Data and Business Analytics Industry is Expected to Reach $448 Billion by 2027 –

DUBLIN–()–The “Global Big Data and Business Analytics Market By Component, By Analytics Tool, By Deployment Type, By Application, By Industry Vertical, By Regional Outlook, Industry Analysis Report and Forecast, 2021 – 2027” report has been added to’s offering.

The Global Big Data and Business Analytics Market size is expected to reach $448 billion by 2027, rising at a market growth of 13% CAGR during the forecast period.

Key Market Players

  • Amazon Web Services, Inc.
  • Fair Isaac Corporation
  • Hewlett Packard Enterprise
  • IBM Corporation
  • Microsoft Corporation
  • Oracle Corporation
  • SAP SE
  • SAS Institute Inc.
  • Tibco Software Inc.
  • Teradata Corporation

Big Data analytics is a way through which enterprises can evaluate a huge amount of data for extracting useful information that is expected to improve their decision-making capability. Additionally, big data and business analytics solutions is expected to enable companies to discover various market trends, hidden patterns, customer preferences, and

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AmEx Global Business Travel Going Public Through $5.3 Billion Merger With Apollo SPAC

American Express Global Business Travel is merging with a blank-check company backed by

Apollo Global Management Inc.

APO 0.08%

to go public with a roughly $5.3 billion valuation, the companies said.

A travel-booking services provider for corporate customers, AmEx Global Business Travel is 50% owned by

American Express Co.

AXP 1.19%

It is combining with the special-purpose acquisition company

Apollo Strategic Growth Capital.

APSG 0.20%

The Wall Street Journal previously reported the two sides were nearing a deal.

The merger represents a vote of investor confidence in business travel despite a bumpy 2021 recovery in the industry. Although business travel is bouncing back as more people are vaccinated, new Covid-19 variants and travel restrictions continue to emerge and keep activity well below pre-pandemic levels.

Paul Abbott,

chief executive officer of American Express Global Business Travel, responded to plunging sales at the start of the pandemic by cutting costs.

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$23.98 Billion Retail e-Commerce Packaging Markets – Global Industry Analysis and Growth Forecast to 2030 –

DUBLIN–()–The “Retail E-Commerce Packaging Market Research Report: By Material Type, End User – Global Industry Analysis and Growth Forecast to 2030” has been added to’s offering.

The value of the global retail e-commerce packaging market is predicted to surge from $23,987.7 million in 2020 to $74,873.0 million by 2030, at a 12.1% CAGR between 2020 and 2030.

During the COVID-19 pandemic, the retail e-commerce packaging market has received a boost as the lockdowns led to the closure of many physical stores. Moreover, the stores that remained open witnessed a significantly lower footfall because the fear of infection has made many switch to online shopping. During these times, the sales of pharmaceuticals and other healthcare products and food and beverage products have especially increased via online shopping portals.

In the coming years, the retail e-commerce packaging market will continue to be dominated by the boxes category, based

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