Asia

In ancient mythology, Chinese unicorns are lucky, rare creatures that appear to mark the arrival or death of a great leader, like Confucius. Today, China's tech unicorns -- private companies valued at $1 billion or more -- are far more commonplace and look increasingly cursed.

Temasek Holdings Pte pared its investment in Alibaba Group Holding Ltd. in the third quarter, as shares of China’s biggest online retailer rallied, while emerging as a shareholder of software maker Dell Technologies Inc.

The crisis sparked by the shortage of cash in India following Prime Minister Narendra Modi’s anti-graft measure to ban high-value currency bills has hit the movement of goods in Asia’s third-largest economy.

The reports at first seem striking: India's abrupt recall of its larger cash notes has caused a dramatic uptake in mobile payments, likely spurred by staggering lines at bank branches and ATMs.

Australia should follow India’s lead and scrap its biggest bank notes, UBS Group AG said.

Flywire, the Boston-based firm specializing in cross-border tuition payments, has expanded to Australia, the third most popular destination in the world for international education behind the U.S. and the U.K.

Chinese internet companies face a new reality after Donald Trump’s surprise victory as U.S. president-elect — and Alibaba Group Holding Ltd. has the most to lose.

Cash may no longer be king in India. The nation’s nascent digital economy stands to be the biggest beneficiary of its strongest crackdown on corruption since 1978.

China has green-lit a sweeping and controversial law that may grant Beijing unprecedented access to foreign companies’ technology and hamstring their operations in the world’s second-largest economy.

Alibaba is taking advantage of a consumer shift to shopping on mobile devices as it uses its massive computing power and investments in data centers.