BENGALURU (June 30): Berkshire Hathaway Inc Vice Chairman Charlie Munger praised China's move to impose a sweeping restructuring on Jack Ma’s Ant Group, the fintech giant whose record $37 billion IPO was derailed by regulators in November. Alibaba was also hit with a record $2.75 billion antitrust penalty as China tightens controls on the booming “platform economy”. "Communists did the right thing. He also praised China's response to the novel coronavirus. And that turned out to be exactly the right thing to do," Munger said.

Source: The Edge Markets June 30, 2021 04:07 UTC