Zoom Video Technologies Inc. (ZM) shares slipped Monday after the videoconferencing company announced a new suite of tools at its Zoomtopia 2021 conference. Zoom shares declined 3% to $292.22 in afternoon trading, and are down 24% over the past 12 months. One of the features announced was “Zoom Whiteboard,” a digital-canvas collaboration tool that allows users to interact with each other as if they were using an in-person whiteboard, with Zoom collaborating with Facebook Inc. (FB) to use Oculus Horizon Workrooms for a VR experience. Read More...
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Ant Group’s Alipay Is Set to Be Broken Up, According to Reports
The Chinese government intends to force Alipay, the payment app owned by Alibaba founder Jack Ma’s Ant Group, to create a separate app for its loan business, according to the Financial Times. The new app would have to turn over its user data to a new credit-scoring entity partly controlled by the state, the newspaper reported, quoting two people familiar with the plan. Chinese regulators had asked Ant in April to put its two lucrative microloan businesses, Jiebei, a short-term consumer loan entity, and Huabei, a virtual credit card provider, in a new consumer finance unit.
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