Bloomberg Business

Carlyle, GIC Skip Ant’s Buyback After Valuation Slumps 70%

A number of global investors including Warburg Pincus and Canada Pension Plan Investment Board are opting out of Ant Group Co.’s proposed share buyback after the Chinese fintech’s valuation was slashed by more than 70%, according to people familiar with the matter.

China Deflation Threat Grows as Companies Cut Prices to Survive

When China abandoned pandemic restrictions after three years of stringent controls, Nie Xingquan was expecting booming sales for his hand-made leather shoes. Instead, demand has been so poor that he’s had to cut prices 3% from a year ago and reduce his profits.

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