Treasury Wine Estates Shares Plunge on Earnings Warning Amid U.S. and China Weakness 
EU Signals Major Shift on 2035 Combustion Engine Ban Amid Auto Industry Pressure 
Korea Zinc Plans $6.78 Billion U.S. Smelter Investment With Government Partnership 
Woolworths Faces Fresh Class Action Over Alleged Underpayments, Shares Slide 
FDA Says No Black Box Warning Planned for COVID-19 Vaccines Despite Safety Debate 
FAA Unveils Flight Plan 2026 to Strengthen Aviation Safety and Workforce Development 
Robinhood Expands Sports Event Contracts With Player Performance Wagers 
Apple Explores India for iPhone Chip Assembly as Manufacturing Push Accelerates 
Coca-Cola’s Proposed Sale of Costa Coffee Faces Uncertainty Amid Price Dispute 
Korea Zinc to Build $7.4 Billion Critical Minerals Refinery in Tennessee With U.S. Government Backing 
California Jury Awards $40 Million in Johnson & Johnson Talc Cancer Lawsuit 
Blackstone Leads $400 Million Funding Round in Cyera at $9 Billion Valuation 
Ford Takes $19.5 Billion Charge as EV Strategy Shifts Toward Hybrids 
Biren Technology Targets Hong Kong IPO to Raise $300 Million Amid China’s AI Chip Push 
United Airlines Tokyo-Bound Flight Returns to Dulles After Engine Failure 
SpaceX Begins IPO Preparations as Wall Street Banks Line Up for Advisory Roles 
Nvidia Weighs Expanding H200 AI Chip Production as China Demand Surges 
China’s Ant Group has agreed to acquire a 50.55% stake in Hong Kong-based Bright Smart Securities & Commodities Group for HK$2.81 billion ($362 million), marking its first acquisition of a securities brokerage license. The deal, announced in a joint statement, sees Bright Smart chairman Yip Mow Lum selling 857.98 million shares at HK$3.28 each to Ant’s Wealthiness and Prosperity Holding, which will trigger a mandatory cash offer for all outstanding shares.
Following the news, Bright Smart’s stock surged as much as 63.9%, reaching a record HK$5, even as the Hang Seng Index slipped 0.5% on Monday. Trading in Bright Smart shares had been halted on April 23 before resuming after the announcement.
Ant Group, founded by Alibaba's Jack Ma and 33% owned by Alibaba Group (NYSE:BABA), operates Alipay, China's leading mobile payment platform. The investment aligns with Ant’s strategy to expand overseas after refinancing a $6.5 billion credit line last year, partly earmarked for international growth.
Ant’s expansion efforts come after Chinese regulators halted its $37 billion IPO in 2020, followed by a major regulatory crackdown and a $1 billion fine. Ant is currently in the process of obtaining a financial holding company license, a critical step toward potentially reviving its IPO ambitions.
Despite the acquisition, Ant intends to keep Bright Smart listed on the Hong Kong Stock Exchange, according to the companies' joint statement.
