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Finance

Justice Department Sues to Block Visa's Proposed Acquisition of Plaid

Justice Department Sues to Block Visa's Proposed Acquisition of Plaid

Acquisition Would Eliminate Nascent Competitor Plaid and Prevent Disruption of Visa’s Monopoly in Online Debit Today, the Department of Justice filed a civil antitrust lawsuit to stop Visa Inc.’s $5.3 billion acquisition of Plaid Inc. Visa is a monopolist in online debit services, charging consumers and merchants

China's Xi Jinping personally halted Ant's record-breaking $37 billion IPO

China's Xi Jinping personally halted Ant's record-breaking $37 billion IPO

Key Points * Chinese President Xi Jinping halted Ant Group’s historic $37 billion initial public offering after its founder, Jack Ma, criticized government leaders, The Wall Street Journal reported. * A week before the Chinese fintech was set to go public, Ma made incendiary comments that didn’t go down well