By Julie Zhu and Zhang Yan

HONG KONG/BEIJING, Oct 13 (Reuters)China’s securities regulator is probing a potential conflict of interest in fintech giant Ant Group’s planned $35 billion stock listing, delaying approval for what could be the world’s largest IPO, three people with direct knowledge of the matter said.

The China Securities Regulatory Commission (CSRC) is looking into the role of Alipay, Ant’s flagship payment platform, as the only third-party channel through which retail investors could buy into five Chinese mutual funds investing in the IPO, the people told Reuters, speaking on condition of anonymity.

The arrangement sidelined banks and brokerages, the traditional route for retail investors to buy into funds. More than 10 million retail investors piled money into the five mutual funds when they were launched in late September, underscoring the marketing clout of Alipay.

The CSRC said in guidelines effective from Oct. 1 that

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If getting a PPP loan approved meant you had to move at warp speed, getting one forgiven may well feel like you’re stuck in slow motion.

That’s the case for Andrew Cao, a managing partner at Motoza, the Austin-based digital marketing agency he founded in 2011. Cao tapped into the Paycheck Protection Program — the $521 billion forgivable loan program designed to bridge small businesses through the pandemic–in May, after some of his clients started pulling their business. He applied through a local lender, Horizon Bank, after failing to get in on the first tranche of PPP funding with his company’s own bank, Bank of America.

“It was just a really bad experience, and unfortunately it had to happen this way,” says Cao, who hasn’t taken that experience lightly. “We have been transferring money from BofA to Horizon for the past couple of months,” he adds.

Filing for loan forgiveness

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By Lisa Richwine

LOS ANGELES (Reuters) – California’s health secretary on Friday agreed to hear more input from theme park operators before issuing reopening guidelines, a step that further delays Walt Disney Co’s plans to welcome visitors back to Disneyland.

Disney Executive Chairman Bob Iger also resigned from a California task force on reopening businesses during the coronavirus pandemic, the Sacramento Bee newspaper reported late on Thursday. No reason was given and Disney did not respond to requests for comment.

Earlier this week, Disney said the continued closure of Disneyland had exacerbated the financial strain on its parks division from the pandemic. The company, which is in the process of laying off 28,000 employees, has urged California to let Disneyland reopen.

On Thursday, a trade group that represents Disneyland, Comcast Corp’s Universal Studios and others, said it had reviewed California’s draft guidelines and then asked the state to hear more

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Pilots at United Airlines voted to approve an agreement that will avoid about 2,850 furloughs that were set to take effect later this week and another 1,000 early next year.

Airline officials said Monday that the agreement will reduce involuntary job cuts to fewer than 12,000 if Congress fails to provide more aid to airlines before a Thursday deadline. The company sent layoff warnings to 36,000 employees in July.

The Air Line Pilots Association said Monday’s deal will let United spread a reduced amount of flying across the airline’s 13,000 pilots to save jobs at least until next June.


MBA BY THE BAY: See how an MBA could change your life with SFGATE’s interactive directory of Bay Area programs.


“Our members understood that in order to protect pilot jobs, we needed to approve this agreement,” said Todd Insler, chairman of the union’s United Airlines council.

The agreement was ratified by

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Defence Minister Rajnath Singh unveiled on Monday a new Defence Acquisition Procedure (DAP) that features steps to turn India into a global manufacturing hub of military platforms, reduce timelines for procurement of defence equipment and allow the purchase of essential items by the three services through capital budget under a simplified mechanism.

Under the new policy, the offset guidelines have also been revised to give preference to defence majors offering to manufacture products in India instead of meeting the offset obligations through other means, officials said. The DAP also incorporates new chapters on information and communication technologies, post-contract management, acquisition of systems developed by the state-run defence entities like the DRDO and Defence Public Sector Undertakings (DPSUs), they said.

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In what is seen as a significant move, the DAP featured measures to reduce delay in procurement of essential items by the three services

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CINCINNATI — Twelve days before Evans Landscaping owner Doug Evans was to begin serving a 21-month sentence for minority contracting fraud, a federal judge delayed his report date for the fourth time, as he considers whether Evans’ health concerns should allow him to skip prison altogether.

U.S. District Court Judge Michael Barrett, who presided over Evans’ month-long trial in 2018, signed an order on Wednesday giving Evans a three-month delay on his prison report date from October 5 to January 8.

This is the third time Barrett has delayed the prison report date because Evans’ attorney, Ben Dusing, insisted his client’s poor health would put him at risk of contracting COVID-19 while in prison. He wants the high-profile Newtown entrepreneur to serve his punishment through home confinement.

“He is a first-time, non-violent offender. He does not request a reduction of the time of the home confinement, but simply that he

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The United States Centers for Disease Control and Prevention Committee (CDC) is going to postpone voting to figure out who will first receive the coronavirus vaccine on a priority basis, CNN reported.

The committee was supposed to conduct voting on Tuesday. CDC also planned to guide states on the distribution of vaccines across the US after voting.

According to a committee member William Schaffner, an infectious disease specialist at Vanderbilt University Medical Center, the vote was delayed as the committee is still studying the issue.

Schaffner said as cited in the Wall Street Journal report: “The working group has not fully worked out its plan to present to Advisory Committee on Immunization Practices (ACIP) today, so the CDC has decided not to ask ACIP to vote today.”

Also read: India’s trials for Russia’s Sputnik-V vaccine could start in next few weeks

Schaffner also revealed that the group had agreed in

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The company said that by the end of September, eBay sellers will be able to print out discounted UPS shipping labels, at a cost up to 62 percent cheaper than typical UPS rates.

For the Postal Service, the loss of eBay revenue could be substantial: A spreadsheet of the Postal Service’s largest customers prepared last spring showed the e-commerce site was agency’s second-largest retail customer, shipping more than 130 million items up to that point in the fiscal year. The USPS generated more than $743 million in revenue from eBay packages in that fiscal year while grappling with a $160.9 billion deficit.

EBay is second only to Amazon, which generated more than $2.3 billion in revenue for USPS during the same time frame, and whose business top Postal Service managers were fearful of losing, The Washington Post reported this week.

EBay facilitates online sales by private individuals and businesses across

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NEW YORK (CBSNewYork) – If you’ve been expecting unemployment payments in New York, relief is on the way.

The state Labor Department says it paid out nearly $2 billion in lost wages to more than two million New Yorkers.

The state Labor Department said that a bank used to process the payments failed to do so overnight, but says the checks should land in people’s accounts by the end of business Friday.

KeyBank, the bank involved, said it experienced a “three hour delay in processing the supplemental Lost Wages Assistance (LWA) payments for unemployed New Yorkers.”

The issue has since been fixed, the bank said,

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(Reuters) – A surge in people buying guns since the coronavirus pandemic began has flooded the FBI’s background check system, causing a spike in the number of delayed checks and allowing gun sales to proceed without them, FBI data disclosed on Tuesday showed.

FILE PHOTO: A member of the U.S. Congress wears a “Background Checks Save Lives” sticker during a news conference announcing the introduction of “bipartisan legislation to expand background checks for sales and transfers of firearms” on Capitol Hill in Washington, U.S., January 8, 2019. REUTERS/Jonathan Ernst/File Photo

Gun control advocacy group Everytown for Gun Safety obtained FBI data through a Freedom of Information Act request.

There has been a 54% increase in the number of background checks that were delayed past three days in the March through July period, as compared with the same time last year, the data shows.

More than 5% of the 5.86 million

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