Ant’s IPO is a ‘sign of the times’ and ‘not an isolated case’

first_imgI believe the Chinese government stepped in because they realized that they had to regulate these companies, so that they don’t … get too big. Ant operates Alipay, which is one of China’s most popular mobile payment systems. It is also provides everything from wealth management to micro loans, and sells financial technology to enterprises.But the fintech firm’s IPO, which would have been the biggest ever, was pulled at the last minute after Chinese authorities said there were “major issues” with the listing. “As you know, that sector in China has grown by leaps and bounds,” he said. “And now I believe the government is realizing that they cannot let this get out of control, because it’ll jeopardize the entire financial structure.”Changing world of paymentsSpeaking on the same panel, Douglas Flint, chairman of asset manager Standard Life Aberdeen, said the Ant IPO suspension indicated a need for central banks and regulators to have control of financial stability.He highlighted how many of today’s payments, money transmissions and investments had gone online.“While that is good for consumers and good for competition and good for lowering the cost of intermediation, I think that regulators and policymakers are beginning to get nervous given the scale of dominance that could happen,” he said. “I think there’s a financial stability issue that caused the cause the IPO to be pulled back.” The suspension of Ant Group’s initial public offering (IPO) is a sign of the times, according to veteran investor Mark Mobius, who is the founder of Mobius Capital Partners. Ant, an affiliate of Jack Ma’s Alibaba, was all set for a $34.4 billion dual listing in Shanghai and Hong Kong last Thursday.- Advertisement – While China appears to have concerns about some companies getting too big, it is keen to rapidly scale others in different industries.Fiona Frick, CEO of asset manager Unigestion, said on the same panel that China wanted to become “more independent” in certain sectors of tech, naming the semiconductor industry as one example.  Going forward, she said her firm was more positive on emerging markets, especially in Asia, than it was on Europe. “They’ve been managing their Covid crisis much better than us,” she said, adding that she’s particularly positive on tech in these countries.center_img – Advertisement – “The Chinese government is waking up to the fact that they cannot allow these companies that dominate a particular sector and particularly the financial sector,” said Mobius on a virtual panel at CNBC’s East Tech West conference.“I believe the Chinese government stepped in because they realized that they had to regulate these companies, so that they don’t … get too big,” he said, adding that other emerging markets have the same concerns. “A lot of it is related to privacy and other factors.”Asked if he thinks Ant is an isolated case, Mobius said “definitely not” and warned that the Chinese government may look to regulate the technology industry further.- Advertisement – – Advertisement –last_img read more

Mertesacker BENCHED! January signing gets the nod against Everton after German’s Champions League shocker

first_img Per Mertesacker Arsenal centre-back Per Mertesacker seems to have paid the price for his Champions League shocker against Monaco, with the World Cup winner relegated to the bench for Sunday’s Premier League clash with Everton.The Gunners were slammed for their performance in Wednesday’s 3-1 defeat at the Emirates, but it was Mertesacker who took a lot of the flack for his part in the French side’s opening two goals.He deflected a shot into his own net for Monaco’s first before deserting his defensive post completely to allow former Tottenham striker Dimitar Berbatov to put the visitors 2-0 up in what was a shocking display from the hosts.And, as a result, January signing Gabriel Paulista got the nod against the Toffees for a first Premier League start.There were more casualties from the midweek defeat, too, with Danny Welbeck replaced by Alex Oxlade-Chamberlain – who scored a wonderful consolation goal – in attack, though Mesut Ozil managed to keep his place, despite also receiving a lot of criticism from fans after another abject performance.Tune into talkSPORT for LIVE AND EXCLUSIVE commentary of Arsenal v Everton from 2:05pmFull team news:Arsenal: Ospina, Bellerin, Gabriel, Koscielny, Gibbs, Coquelin, Cazorla, Oxlade-Chamberlain, Ozil, Sanchez, Giroud. Subs: Mertesacker, Rosicky, Walcott, Monreal, Chambers, Welbeck, Szczesny.Everton: Howard, Coleman, Stones, Jagielka, Garbutt, McCarthy, Barry, Besic, Mirallas, Lukaku, Barkley. Subs: Robles, Gibson, Kone, Naismith, Osman, Lennon, Alcaraz. 1last_img read more

Irish Red cross save man’s life after suffering heart attack

first_imgIrish Red Cross volunteers saved a man’s life when he suffered a heart attack at the National Rowing Championships in Ballyshannon.The Donegal Area of the Irish Red Cross successfully intervened in a cardiac arrest at the National Coastal Rowing Championships in Ballyshannon on 19 August. The Veteran Men’s Heat had just begun when a team supporter came to the ambulance and alerted volunteers to a situation in a team boat; she thought something had gone “horribly wrong”. It transpired one of the competitors had collapsed in his boat and had gone into cardiac arrest.The IRC volunteers had been booked to provide Event First Aid cover at the event and there were two ambulances on duty and four crew members – Patrick McGonagle (EMT), Ciaran Gibson (EFR), Sarah Meagher (EFR) and Feargal Taitt (EMT). Feargal and Ciaran accompanied Donegal Bay Rowing Club personnel in a safety boat out to the scene of the heart attack. When approaching the team boat, the crew became aware the patient was unconscious. The patient’s teammates were shouting that he was turning blue. As soon as Feargal and Ciaran set their eyes on the patient they instructed the patient’s teammates to commence chest compressions and guided them through the procedure.As the water was too choppy, the safety boat was unable to get alongside the team boat to enable the safe transfer of the patient so it was decided not to transfer the patient onto the safety boat. Instead, the team boat was towed back to the pontoon.As this was unfolding, back on shore Sarah and Patrick had been preparing the ambulance and had it as close to the scene as possible by the time the patient made it back to the pontoon.The patient was quickly removed from the boat onto the deck and Feargal and Ciaran sprung into action by continuing CPR while also attaching a defibrillator. One shock was delivered from the defibrillator and CPR was recommenced. Ciaran provided the chest compressions while Feargal, with the help of one of the safety boat members, administered oxygen via the bag valve mask. The whole event was being watched by over 2,000 people but the added stress of such a large crowd watching did not deter the Red Cross crew who were supported on the pontoon by an off-duty advanced paramedic, event doctor and a number of bystanders. Within a few minutes the patient was reassessed and was noted to have a pulse and laboured breathing.The National Ambulance Service arrived on the pontoon just as the patient had a return of spontaneous circulation and the Red Cross crew handed over care to the advanced paramedic.The patient was transferred by the National Ambulance Service while Patrick McGonagle travelled with him at the request of the AP in case the patient should deteriorate again en route.The crew left behind continued to gather information on the patient from teammates including date of birth, past medical history and current medications. This was then relayed on to Patrick (en route to hospital) so that a full and comprehensive history could be given to the receiving ED team at Sligo University Hospital.The Red Cross crew then went back to providing another five hours of duty cover for the remainder of the event that day. In terms of the outcome for the patient, he was sitting up talking the next day and looking to get back to watch the rest of the rowing championships.Frankie O’Donnell is a Paramedic Supervisor in Donegal Town Ambulance Station and was very complimentary about the work of the Red Cross volunteers; “the professionalism and skill levels demonstrated were exemplary. The quality of the CPR was excellent and their overall contribution played a huge role in a very successful outcome for the patient.”Seamus Maguire, Chairperson of Donegal Rowing Club said: “Without their prompt action and professionalism, the patient’s outcome may have been a very different one, today that patient is alive and well thanks to their swift intervention.”The Irish Red Cross crew members were a key link in the chain of survival in this situation and are being recognised for their achievement with all four being awarded the Irish Red Cross Medal of Merit for meritorious service at an incident. This award will be bestowed at a presentation evening in An Grianán Hotel in Burt, Co Donegal on 27 October.Chief Whip and Minister of State at the Department of Culture with responsibility for Gaeilge, Gaeltacht and the Islands, Joe McHugh, will be in attendance on the night.This type of presentation ceremony usually takes place in Dublin but on this occasion, it is being brought to Donegal as an act of solidarity with the victims of the recent flooding.Congratulations to all involved.Irish Red cross save man’s life after suffering heart attack was last modified: October 10th, 2017 by Elaine McCalligShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)Tags:BallyshannondonegalHeart attackirish red crosslast_img read more