Last month’s Circles drama highlights the struggle Jack Ma’s empire faces in expanding its financial services business. To recap, Alibaba Group Holding Ltd. and its affiliate Zhejiang Ant Small & Micro Financial Services Group Co. added social features to Alipay’s smartphone app to help promote engagement. In theory, more engagement should lead to greater use of its marquee function, …

  There’s new data out on the taxes that people and corporations in the world’s affluent nations paid in 2015. The US total tax burden of 26.4 percent of gross domestic product (that includes state and local taxes) once again lands us pretty far down in the rankings. Of the 35 members of the Organization for Economic Cooperation and Development, …

  The embattled Korean President Park Geun-hye defies pressure to resign. But the scandal-hit Park is ready to accept the result of looming and possibly lengthy impeachment process. The scandal that has served a body blow to Park and crippled the government pertains to her friendship with long-time confidante Choi Soon-Sil. Dubbed as female Rasputin, Choi has been charged with …