• The e-commerce tycoon Jack Ma will relinquish control of Ant Group, the Chinese financial technology provider founded by him. The move is part of a larger “corporate governance optimization” plan aimed at making the company more appealing as a result of Beijing’s crackdown on technology conglomerates and regulatory tightening. 
• On Friday, the Ant Group said that no single shareholder would have control over it after an ownership restructuring. As founder, Ma held over 50% of Ant's voting rights. After the restructure, however, Ma’s voting rights will drop to about 6%, according to calculations based on Ant's statement.