China ends crackdown on web giants with colossal fines for Ant Group, Tencent

Alibaba's valuation of its fintech outfit now way below numbers touted ahead of cancelled 2020 IPO

China's crackdown on web giants Alibaba and Tencent appears to be over, with the two to pay a combined $1.4 billion in fines to atone for past sins as Beijing moves on to "normalized" supervision.…