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UNCOVERED: 18 | History Defined

China Regulator Fines Alibaba, Tencent for Disclosure Violations

China has imposed fines on technology giants Alibaba and Tencent as well as a range of other firms for failing to comply with anti-monopoly rules on the disclosure of transactions, the country's market regulator said on Sunday. The State Administration for Market Regulation (SAMR) released a list of 28 deals…

Asharq Al-Awsat

Blizzard Entertainment Acquires This Boston-Based Studio For Undisclosed Terms

Blizzard Entertainment Acquires This Boston-Based Studio For Undisclosed Terms

Activision Blizzard, Inc's (NASDAQ:ATVI) Blizzard Entertainment closed the acquisition of the Boston-based studio Proletariat. The financial terms of the transaction remain undisclosed. The acquisition will help better serve players in the multiplayer online role-playing game World of Warcraft. "Over the next two years, we plan to hire hundreds of the best developers to…

Tencent, Other Chinese Companies Follow Western Counterparts In Laying off Staff As Economic Slowdown Weighs

Tencent, Other Chinese Companies Follow Western Counterparts In Laying off Staff As Economic Slowdown Weighs

Chinese tech giants like Tencent Holding Ltd (OTC:TCEHY) and TikTok parent ByteDance Ltd implemented fresh layoffs affecting thousands of employees in their latest round of cost-cutting, the Wall Street Journal reports. The job cuts added on to the tens of thousands of employees already axed by Chinese internet companies since late 2021 after the domestic regulatory crackdown crushed the…

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Benzinga Before The Bell: Texas Giga Tesla's Output Ramp Up, California's Lithium Tax, Spot Bitcoin ETF Proposal Rejection And Other Top Financial Stories Thursday, June 30

Reuters Hyundai, Affiliates Plan To Set Up New Company In US:

Why China's JD Is Giving Rival Tech Giant Tencent An Additional $220M Stake

Chinese e-commerce giant JD.Com Inc (NASDAQ: JD) on Wednesday said that it renewed its strategic cooperation agreement with the tech and gaming giant Tencent Holdings (OTC: TCEHY) for a period of three years.

Alibaba Falls 1%, Nio Gains 4%: What's Weighing On Hong Kong Stocks Today

Shares of major U.S.-listed Chinese companies were trading mixed in Hong Kong on Thursday, as major tech stocks like Alibaba Group Holdings (NYSE: BABA) and Tencent Holdings (OTC: TCEHY) slipped, while Baidu In

Here's Why Kanzhun, Full Truck Alliance Shares Are Trading Higher Today

The app of online recruitment services company Kanzhun Ltd (NASDAQ:BZ) and two apps of the logistics platform Full Truck Alliance Co Ltd (NYSE:YMM), namely, Yunmanman and Huochebang announced the resumption of new user registrations, Reuters reports. The apps were under review by China’s cyberspace regulator. The Chinese government recently expressed support for the domestic tech industry, which had…

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Why Alibaba, Nio, Chinese Peers Are Sliding In Hong Kong Today

Why Alibaba, Nio, Chinese Peers Are Sliding In Hong Kong Today

Shares of major U.S.-listed Chinese companies were trading lower for a second straight session in Hong Kong on Wednesday, as major tech stocks like Alibaba Group Holdings (NYSE: BABA), Tencent Holdings (OTC: TCEHY),

Tencent Targets Metaverse After Overseas Opportunities, EV To Drive Growth

Tencent Targets Metaverse After Overseas Opportunities, EV To Drive Growth

Tencent Holding Ltd (OTC:TCEHY) acknowledged setting up a unit focused on exploring the space to tap multiple opportunities in extended reality (XR) technologies in the next 4-5 years, Reuters reports. Gaming chief Steven Ma disclosed that Tencent had set up an XR business line to combine hardware and software, betting on most…

Tencent to Explore Hardware Opportunities with Extended Reality Unit

Tencent to Explore Hardware Opportunities with Extended Reality Unit

China's Tencent Holdings said it saw multiple opportunities to explore extended reality (XR) technologies in the next 4-5 years and that it had set up a unit focused on exploring the space, confirming an earlier Reuters report. The company's gaming chief Steven Ma made the comments to local media on…

Asharq Al-Awsat

Alibaba Loses 2%, Nio Tumbles 9%: What's Dragging Down Hong Kong Stocks Today?

Alibaba Loses 2%, Nio Tumbles 9%: What's Dragging Down Hong Kong Stocks Today?

Shares of major U.S.-listed Chinese companies were trading lower in Hong Kong on Tuesday, with major tech stocks like Alibaba Group Holdings (NYSE: BABA), Tencent Holdings (OTC: TCEHY), Baidu Inc (NASDAQ: <

Meta's Biggest Rival Posts Visible Success On Gaming Foray Despite Bigger Rivals Like Tencent, NetEase

Meta's Biggest Rival Posts Visible Success On Gaming Foray Despite Bigger Rivals Like Tencent, NetEase

TikTok parent ByteDance Ltd's gaming foray exudes promise as spending across its mobile titles grew over the past year, according to Sensor Tower. The report highlighted TikTok owner generated $1 billion of player spending across its mobile games as of the year ended June 20, 2022, up 16% year-on-year. ByteDance had set…

Why Alibaba, Nio, Chinese Peers Are Trading Higher in Hong Kong Today

Why Alibaba, Nio, Chinese Peers Are Trading Higher in Hong Kong Today

Shares of major U.S.-listed Chinese companies inched higher in Hong Kong on Friday, with tech giants like Alibaba Group Holdings (NYSE: BABA), Tencent Holdings (OTC: TCEHY), Baidu Inc (NASDAQ:

Record numbers of Chinese graduates enter worst job market in decades

Record numbers of Chinese graduates enter worst job market in decades

Jenny Bai was among 10 high-performing computer science students from different Chinese universities selected by a Beijing-based internet firm for a job upon graduation, following four rounds of arduous interviews.

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Tencent Creates Metaverse Unit

XR unit a rare venture into hardware for the Chinese tech giant

Why Alibaba, Nio, Most Chinese Peers Are Shooting Up In Hong Kong Today

Shares of major U.S.-listed Chinese companies traded mostly higher in Hong Kong on Thursday, with tech giants like Alibaba Group Holdings (NYSE: BABA), Tencent Holdings (OTC: TCEHY), and Baidu Inc (NASDAQ:

ZhongAn Moves Further Out of Parental Shadow as Tencent Cuts Stake

Key takeaways: • Tencent reduced its stake in ZhongAn to about 8% from 10%, less than six months after Alibaba-affiliated Ant Group also cut its stake in the online insurer • ZhongAn’s net profit more than doubled last year, as reliance on its parents for business has decreased

Alibaba Sheds 2%, Nio Jumps 3%: What's Weighing On Hong Kong Stocks Today

Shares of major U.S.-listed Chinese companies traded mixed in Hong Kong on Wednesday, with tech giants like Alibaba Group Holdings (NYSE: BABA), Tencent Holdings (OTC: TCEHY), and JD.com Inc (NASDAQ:

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Snap CEO endorses Elon Musk's "super app" strategy for Twitter

"I think he's seeing a lot of what we saw in Asia," Spiegel told Axios.

Alibaba Down Nearly 1%, Nio Up 2%: What's Weighing On Hong Kong Stocks Today

Shares of major U.S.-listed Chinese companies traded mostly higher in Hong Kong on Friday, with tech giants like Baidu Inc (NASDAQ: BIDU), JD.com (NASDAQ: JD), and Tencent Holdings (OTC:

Morning Brief: Top Financial Stories Dominating on Tuesday, June 14

Tencent Buys $264M Stake In Walmart's Indian Unit

Chinese tech conglomerate Tencent Holdings Ltd. (OTC: TCEHY) has bought a $264 million stake in Walmart Inc (NYSE: WMT)-owned Indian e-commerce firm Flipkart, Press Trust of India

Alibaba, Nio, Most Chinese Peers Continue To Slide In Hong Kong Today

Shares of major U.S.-listed Chinese companies mostly traded lower again in Hong Kong on Tuesday, with tech giants like Alibaba Group Holdings (NYSE: BABA), Tencent Holdings (OTC: TCEHY), Baidu Inc (NASDAQ:

Why Alibaba, Nio, Most Chinese Peers Are Stumbling In Hong Kong Today

Shares of U.S.-listed Chinese companies were trading mixed in Hong Kong on Friday morning, with major tech names like Alibaba Group Holding Ltd (NYSE: BABA), Tencent Holdings Ltd (OTC: TCEHY), and Baidu Inc

Why Bilibili Shares Are Plunging Today

Bilibili Inc (NASDAQ:BILI) reported first-quarter FY22 revenue growth of 30% year-on-year to $797.3 million, beating the consensus of $757.6 million. Drivers: Average monthly active users (MAUs) increased 31% Y/Y to 293.6 million, and Mobile MAUs rose 33% Y/Y to 276.4 million. Average daily active users (DAUs) climbed 32% Y/Y to 79.4 million, and Average…

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