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

Cryptoverse: An Electric Aether Jumping About to Merge

Representations of the cryptocurrency Bitcoin, Ethereum, and Dash sinking into the water in this illustration taken on May 23, 2022. REUTERS/Dado Ruvic/Illustration Register now to get free unlimited access to Reuters.com Register Aug 16 (Reuters) – It appears that the massive upgrade of ethereum is underway. finally. After years of delays, it looks like a … Read more

NYSE writedowns suggest Beijing may be willing to compromise on US review dispute analysts

A trader enters the floor of the New York Stock Exchange (NYSE) in New York City, US, June 14, 2022. REUTERS/Brendan McDermid Register now to get free unlimited access to Reuters.com Register HONG KONG (Reuters) – The move to delist five Chinese state-owned companies from the New York Stock Exchange (NYSE) suggests Beijing may be … Read more

SoftBank failed. Time to go privacy?

Softbank CEO Masayoshi Son incurred $24 billion in new losses: “I am very embarrassed and regretful.” Str / Jiji Press / AFP / Getty Images font size The stock market can be a humble place – just ask Masayoshi Son. Founder and CEO Softbank Group (Stock ticker: SFTBY), “Masa” made one of the best solo … 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

Five Chinese state-owned companies should be delisted from the New York Stock Exchange

SHANGHAI/HONG KONG (Reuters) – Five Chinese state-owned companies including China Life Insurance Co. (601628.SS) And the giant oil company Sinopec (600028.SS) On Friday, he said they would remove their names from the New York Stock Exchange, amid rising diplomatic and economic tensions with the United States. Companies that also include China Aluminum Corporation (Shalco) (601600.SS)PetroChina … 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

Disney beats Netflix in streaming subscribers, sets higher prices

A smartphone screen showing the “Disney +” logo in front of the phrase “The Streaming Service” in this illustration taken on March 24, 2020. REUTERS / Dado Ruvic Register now to get free unlimited access to Reuters.com Register Los Angeles (Reuters) – The Walt Disney Company (DIS.N) Beat Netflix Inc (NFLX.O) With a total of … 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