Jack Ma immediately regrets decision

[The beef 675] [I'm an image] “Congratulations, President Xi, you just played yourself.” - Jeff Hey there carnivores, Markets rose across the board with nearly every sector getting in on the action (10 of 11 S&P 500 sectors were positive). Today we’re talking about Ant Group having its picnic ruined. Keep raging, Jeff & Jason [Image] [I'm an image] Ant that some sh*t The CCP gon' CCP. Just three days ahead of what was expected to be the largest IPO ever, Ant Group's initial public offering has been [suspended](. The Shanghai and Hong Kong Exchanges, where Ant was set to debut its dual listing, announced yesterday that the offering, which was expected to raise $34.5B, was DOA. But why? The Shanghai Exchange cited "significant issues such as the changes in financial technology regulatory environment." On Monday Chinese officials [released]( draft rules on micro-lending (which would affect Ant) and summoned its controlling shareholder, Jack Ma, and other execs to a meeting... presumably to show them pictures of their family tied up in a basement somewhere. Does this make Jack Ma the Adam Neumann of China? So what's really going on? Last week, instead of keeping his mouth shut in the lead up to his massive pay day, Jack Ma raised concerns about the Chinese government stifling innovation. Should have listened to the [Pot Brothers at Law](, Jack... A professor of trade policy and econ at Cornell had this to say: “The fact that [Chinese regulators] waited till so close to the listing to pull it is very striking. This sort of thing doesn’t happen without everybody in the top echelon of the political realm coming on board.” Where do we go from here? The only thing we do know is that Ant plans to return funds to investors who subscribed to the IPO. The company also did its best [Tony Hayward impression]( in an attempt to save face. In all likelihood the PayPal of China will need to re-apply to list (read: pay off the right government officials this time). But the sequel might not be as WAP-inducing for investors especially considering the potential for more burdensome regulations. The bottom line... List the biggest IPO of all time on an exchange in China, they said. F*ck those capitalist pigs in America, they said... Welp, what was expected to be a milestone for the Shanghai exchange appears to be turning into a black eye for the Chinese government. Until recently it was unheard of for large IPOs to take place outside of New York... and now we know why. [I'm an image] 📢 Limited Seats Remain A Chance To Piggyback Off Wall Street’s Largest “Hidden” Transactions [Alternate text]( Join Ben Sturgill LIVE Tomorrow At 2 PM ET And Learn How To Potentially Profit From Blockbuster Trades That Wall Street Wants To Keep “Hidden” [Secure Your Spot Now!]( [Alternate text] Down-streaming *Canada becomes confrontational...immediately apologizes* Our neighbors to the North are looking [to impose a cultural levy]( on streaming services Netflix, Amazon, Disney+, and Spotify in order to fund local television shows, films, and music. So, 'Trailer Park Boys.' Canadian broadcast regulators estimate that the streamers bring in roughly C$5B ($3.77B) annually from its citizens, and are looking to claim C$1B for the state. Which begs the question: how many Alanis Morissette biopics can a country watch? Regulators are raising concerns about foreign digital companies competing in local markets unchecked (read: "they took our jobs"). Partner in crime Comcast and Walmart are looking to break in to the streaming TV game as the two [announced a partnership]( to sell smart TVs. Effectively, Walmart will peddle smart TVs that use Comcast services to its customers in exchange for recurring revenue down the road. But, neither of them make actual TVs. True, the companies will utilize a third-party to manufacture the actual TVs using Comcast’s software with Walmart branding. Comcast is hoping the idea will help make a dent in the smart TV industry that is currently dominated by Roku, Amazon, Google, and Apple. The traditional cable provider needs to figure something out as users continue to cut the cord. This, of course, probably isn’t it. It’s fine, everything is fine JPM disclosed that [it may be hit]( with another fine due to its internal controls in its wealth management department. More specifically, surrounding its “historical deficiencies in internal controls and internal audit over certain advisory activities.” Soo, Enron? This payment would follow the $920M sum it paid to three federal agencies in September for its role in manipulating the metals and US Treasuries markets. Deep cuts only OPEC and Russia, known as OPEC+, have realized they may have (read: definitely have) a problem on their hands, as oil demand continues to tumble. So, actions are being weighed, namely continuing production cuts next year in order to prop up the market. OPEC+’s current plan [was to decrease]( its cuts from 7M barrels per day to 2M in Q1 2021. But according to the Algerian Energy Prime Minister, the group will discuss the continuation of cuts into the first half of next year, as the ‘rona (his words, not mine) presents the oil market with a “very dangerous” situation. 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