Exclusive: Tencent Plans to Abandon $24 Billion Meituan Stake

Tencent seeks to start selling Meituan stake this year – sources Sale seeks to appease regulators, monetize 8-year-old betting sources Shares likely to be sold as group trading – sources The move comes after Tencent withdrew JD.com’s investments, SEA stakes Mituan shares are down 10 percent; Tencent shares are recovering HONG KONG (Reuters) – China’s … Read more

With Alibaba stakes cut, SoftBank’s Son calms down on Chinese technology

A journalist raises her hand to ask a question to Japanese SoftBank Group Corp. CEO Masayoshi Son during a press conference in Tokyo, Japan, November 5, 2018. REUTERS/Kim Kyung-Hoon/File Photo Register now to get free unlimited access to Reuters.com Register TOKYO, Aug 12 (Reuters) – SoftBank Group Corp. (9984.T) The decision to sell Alibaba Group … Read more

Foxconn is starting to feel the bite of slowing smartphone sales

Second-quarter profit NT$33.29 billion versus NT$31.02 billion Market Opinion Second-quarter revenue increased 12% to NT$1.5 trillion Steady growth for consumer electronics in the third quarter Sees strong growth for cloud and networking products in the third quarter He says he has a plan B if the authorities don’t approve of China’s investment in Tsinghua TAIPEI, … Read more

SoftBank earns $34 billion from Alibaba stake cut

Cut the stake in the Chinese tech company to 14.6% from 23.7% He says the move will strengthen defenses against a market downturn Booked a loss of $50 billion in the Vision Fund unit in the first half TOKYO, Aug 10 (Reuters) – SoftBank Group Corp. (9984.T) On Wednesday, it said it would gain $34.1 … Read more

Ripple Labs interested in crypto lender Celsius’ bankrupt assets

The Celsius Network logo and representations of cryptocurrency are shown in this illustration taken on June 13, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Register now to get free unlimited access to Reuters.com Register Aug 10 (Reuters) – San Francisco-based blockchain payments firm Ripple Labs Inc, which is engaged in a high-profile battle with the U.S. Securities Regulatory … Read more

Cryptoverse: Blockchain Bridges Fall into Troubled Water

Representations of cryptocurrency Bitcoin, Ethereum and Dash sinking into water in this illustration taken on May 23, 2022. REUTERS / Dado Ruvic / Illustration Register now to get free unlimited access to Reuters.com Register August 9 (Reuters) – Another day, another hack and another blockchain bridge burns out. When thieves stole an estimated $190 million … Read more

Berkshire Hathaway lost $43.8 billion. Operating results improve

Berkshire Hathaway Chairman Warren Buffett walks into the exhibition hall as shareholders gather to hear from the billionaire investor at Berkshire Hathaway Inc’s annual shareholder meeting in Omaha, Nebraska, U.S., May 4, 2019. REUTERS/Scott Morgan // File Photo Register now to get free unlimited access to Reuters.com Register Aug 6 (Reuters) – A slump in … Read more

Wall Street closed mixed as investors eye jobs data

Indices: Dow Jones shed 0.26%, Standard & Poor’s shed 0.08%, Nasdaq shed 0.41%. Energy stocks fall as oil drops to pre-war level in Ukraine Eyes on Friday’s Non-Farm Payrolls Report (Reuters) – Wall Street’s main indexes closed mixed in a dull session on Thursday as gains in high-growth stocks offset losses in energy stocks, as … Read more

Facebook’s parent company Meta is preparing to raise $10 billion from bond sources for the first time

The logo of the Meta platforms is seen in Davos, Switzerland, May 22, 2022. Photo taken May 22, 2022. REUTERS/Arnd Wiegmann // File Photo Register now to get free unlimited access to Reuters.com Register Aug 4 (Reuters) – Meta Platforms Inc (META.O) It is set to raise $10 billion in its first bond offering on … Read more