It seems that Chairman of Ant Group, Jack Ma is reducing his majority stake in the holding company. Sources have indicated that China and Ant Group are currently working on ways for Mr. Ma to sell off his majority stake in financial holding company.
Talks started to begin in early January 2021 between Chinese authorities and Ant Group leadership, that Ma would be eventually existing the company majority control. It is still up in the air if Mr. Ma will leave the entire company, but it does seem this may be the case, though not confirmed.
Key sources would like Ma’s shares to sold to Ant Investors or Alibaba investors, keeping the shares in house, but discussions are still proceeding if this will be the case. Jack Ma’s exit is coming when Alibaba was penalized with multi billion dollars in fines by the Chinese government. -SB
Former Finance Minister of Nigeria, Ms. Okonjo Iweala has emerged as the first woman and African, to lead the World Trade Organization (WTO).
She was confirmed as the director of the organization on Feb. 15, 2021 (Monday). Ms. Iweala has worked for the WTO in the past and is considered a top advisor within the organization, having been in senior positions within the WTO in the past.
She will be leading the WTO which is revitalizing it’s organizational apparatus and leadership. The former Nigerian finance minister was one of the final picks along with South Korea’s trade minister, Ms. Yoo Myung-Hee to lead the over 25 year old trade organization. -SB
Tesla boss Elon Musk put his money where his mouth is, literally. Tesla in SEC regulatory filing; indicated that the company invested $1.5 billion in bitcoin on January 2021 (last month). The company also indicated they will be accepting bitcoin as a payment option, for their products and services in the future.
The announcement puts Tesla as one of three major tech companies collecting bitcoin as a form of currency in the upcoming future. The other two technology companies that accept bitcoin are Paypal and MicroStrategy.
The $1.5 billion dollar bitcoin amount purchased by Tesla is approx. ten percent of the company’s financial reserves; which indicates that Musk and Tesla are in the long haul when in comes to cryptocurrency. It also indicates that Musk values crypto as an alternative to the standard USD dollar. Bitcoin (BTC) leaped upward 14% on Tues Feb. 8, 2021; from the news that Tesla invested $1.5 billion in bitcoin. -SB
President Elect Joe Biden and Vice President Elect Kamala Harris will be sworn in at the capital at approx. 12pm est today, Wednesday, January 20, 2021. It has been reported that they will be sworn in at Capitol Hill outside to a small audience of 2,000 invited only guests (socially distancing) because of Covid-19 protocols.
President Donald Trump has already vacated the White House earlier this morning at 8am est, Wednesday, January 20, 2021. Making a smooth transition for the incoming President (Joe Biden) to occupy the “People’s House”, the historic White House. -SB
Eureka!!!!!! Finally a resolution for the stimulus package to be garnered to the American people and American struggling small businesses; in the United States. The stimulus package reached by the Republican & Democrat Senate & House leadership; will have a full vote by the US Senate & House of Reps on Monday, December 21, 2020.
The $900 billion price tag leaves out state aid, that governors and mayors across party lines have indicated they desperately need, to revive their local economies. Local officials will have to figure out ways to attribute their fiscal budget without the aid support being provided by the federal government.
The stimulus deal was reached late Sunday night December 20, 2020 by both Republicans and Democrats. It had been in negotiations for months, as Democrats and Republicans had been jostling for superiority on what should be included for the second wave of stimulus checks to the American people and American small businesses. The package aid was desperately needed because of the collapse of the economy, caused by the coronavirus pandemic. -SB