Alibaba Group Holding (BABA) affiliate Ant Financial resubmitted its regulatory application to receive approval for its proposed $1.25 billion purchase of money transferring service MoneyGram International Inc. (MGI) .
Ant Financial is petitioning the Committee on Foreign Investment again after its original application passed the 75-day mark that is awarded for assessing applications, Reuters reported.
"We are not commenting on the CFIUS process, but we are continuing to work with the various regulatory agencies and remain focused on closing the transaction by the end of the year," Ant Financial said in a statement, according to Reuters.
Editor's note: story has been corrected to reflect that Ant financial is an affiliate of Alibaba, not a subsidiary.
Money is just being given away: Warren Buffett donated roughly $3.17 billion of Berkshire Hathaway Inc. (BRK.A) (BRK.B) stock earlier this week to the Bill and Melinda Gates Foundation and four family charities.
It is the 86-year-old billionaire's largest contribution in his plan to give away his fortune. In 2010, Buffett, Microsoft Corp. (MSFT) co-founder Bill Gates and his wife created The Giving Pledge, a project that encourages billionaires to give more than half of their wealth to philanthropy. TheStreet takes a look at some of the wealthiest people who have pledged to give their money to charity when all is said and done.
A return of a bothersome issue for Walmart: Beginning in 2013, reports began circulating that Walmart Stores Inc. (WMT) was dealing with an out-of-stock issue at its stores nationwide.