The Beijing-based ride-hailing firm is bracing for a crackdown from Chinese regulators after it went public on the New York Stock Exchange last month. Penalties could include a fine, suspensions of certain operations or delisting from the NYSE. (Bloomberg)

Talking point: The Cyberspace Administration of China began a review of Didi’s data practices days after its US$4.4-billion IPO last month, citing longstanding concerns around data security. While regulators weren’t expressly against a listing, they wanted the firm to address the concerns first, or list in Hong Kong or China, instead. Didi has since been banned from China’s app store—plunging its stock below its offering price—and the country announced stricter rules for Chinese companies looking to list overseas. Sources told Bloomberg they expect Didi to face higher penalties than Alibaba’s US$2.8-billion antitrust fine issued earlier this year. In that case, Alibaba’s stock surged following the record fine.