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UNBELIEVABLE: 21 - Caught on Camera

China Cracks Down Upon Tencent, Other Tech Giants Over Algo Abuse; Questions Alibaba, Others To Address Job Cuts

China looks to rein in the potential abuse of algorithms by internet giants from ByteDance Ltd to Tencent Holdings Ltd (OTC: TCEHY), Bloomberg reports. The Cyberspace Administration of China looks to inspect how social media platforms serve up ads and content to hook users, especially the large-scale websites, platforms, and products with significant influence.…

Benzinga

Here's Why Alibaba, Tencent Are Slumping For A Third Straight Day In Hong Kong Today

Shares of U.S.-listed Chinese tech companies Alibaba Group Holdings Ltd. (NYSE: BABA), JD.Com Inc.

Benzinga

Tencent To Bring Down Curtains On Game Streaming Service

Tencent Holdings Ltd (OTC:TCEHY) looks to shut down its game streaming service citing a shift in its business strategy, Bloomberg reports. The streaming platform, called Penguin Esports, will terminate all services on June 7 after having already suspended new user registrations and in-app purchases. Tencent looks to compensate users by giving away…

Benzinga

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Why Alibaba, Nio And Other Stocks Are Not Trading In Hong Kong Today

Shares of Alibaba Group Holdings Ltd. (NYSE: BABA), JD.Com Inc. (NASDAQ: JD), Tencent Holdings (OTCMKTS: TCEHY), Baidu Inc. (NASDAQ:

Benzinga

Tencent's WeChat Suspends NFT Accounts To Appease Chinese Regulators

Tencent Holdings Ltd's (OTC:TCEHY) WeChat messaging app suspended some non-fungible token accounts to comply with China's regulatory bindings, CNBC reports. Tencent also rectified the public accounts on WeChat to prevent speculation risks in digital currency transactions. WeChat clarified that the official accounts verified by Tencent can display digital collectibles but cannot offer…

Benzinga

Tesla Rivals Xpeng, Li Auto Gain While Alibaba Slips: Why Hong Kong Markets Are Trading Mixed Today

Shares of U.S.-listed Chinese tech companies traded mixed in Hong Kong on Thursday after tech conglomerate Tencent Holdings Limited (OTC: TCHEY) reported weak earnings results for the fourth quarter.

Benzinga

Here's Why Alibaba, Tencent Look To Tighten NFT Norms

Citizens have to register with their real name to purchase NFTs and can only via Chinese Yuan. Chinese internet giants Tencent Holdings Ltd (OTC:TCEHY) and Alibaba Group Holding Ltd (NYSE:BABA) tightened specific rules on their respective NFT marketplaces to avoid further regulatory repercussions, CoinGape reports. Alibaba’s platform Jingtan looked to report users using bots or…

Benzinga

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Tencent Clocks 8% Revenue Growth In Q4; Looks To Focus On Core Businesses

Tencent Holdings Ltd (OTC:TCEHY) reported fourth-quarter FY21 revenue growth of 8% year-on-year to 144.2 billion yuan ($22.6 billion). Revenues from VAS increased by 7% Y/Y to 71.9 billion yuan, and Online Advertising decreased by 13% Y/Y to 21.5 billion yuan. Revenues from FinTech and Business Services increased by 25% Y/Y to 48 billion…

Benzinga

Tencent Music’s Profit Cut in Half Amid Crackdown on Monopolies, Tax Evasion

The operator of China’s largest online music platform blames declining revenue on increasing competition and ‘changing macro environment’

Caixin Global

Here's How Alibaba's Buyback Boost Could Win Back Investors In China's Internet Sector

Alibaba Group Holding Ltd (NYSE: BABA) share buyback boost&

Benzinga

China’s Tencent backs corporate card startup Jeeves in £136 million funding round

Chinese tech giant Tencent has backed corporate card startupJeeves in a $180 million (£136 million) funding round.

Evening Standard

Musk's Business Ties to China Create Unease in Washington

Elon Musk's ties to China are causing unease in Washington, including among some Republican lawmakers who have been among the billionaire entrepreneur's ardent supporters.

Bangkok Post

Chinese Regulators Aren't Done Yet: Authorities Reportedly Seek Overhaul Of Tencent's Payment Platform

U.S.-listed China stocks launched into a rally earlier this week, encouraged in part by indications from Beijing that the witch-hunt against these companies will soon end.

Benzinga

Tencent Caught In Regulatory Turmoil Like Jack Ma's Ant Group

China looks to require Tencent Holdings Ltd (OTC:TCEHY) to include WeChat Pay in a newly created financial holding company, Bloomberg reports. The overhaul may mandate a new license for the universal mobile payments service subjecting it to intense regulatory scrutiny jeopardizing the one-stop-shop appeal reviving investor angst. Tencent needs to fold its banking, securities, insurance,…

Benzinga

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Benzinga

Tencent's Social Media Removes Posts Questioning China's Strong Economic Data

Tencent Holdings Ltd's (OTC:TCEHY) social media site WeChat deleted at least two reports by notable economists questioning China's surprisingly strong economic data, Bloomberg reports. JD.com Inc (NASDAQ:JD) chief economist Shen Jianguang argued over multiple contradictions behind the robust data. Tencent also removed a similar post by China Evergrande Group's former chief economist Ren…

Caixin Global

Tencent to Trim Workforce for Online Content and Cloud Business

Tech giant plans undisclosed job cuts in two of six major divisions, reflecting their slowing growth momentum

Benzinga

Alibaba Looks To Slash Workforce By 30% After Its MMC Division Decides To Lay off 20% Employees

Alibaba Group Holding Ltd (NYSE:BABA) and Tencent Holdings Ltd (OTC:TCEHY) employees saw a job cut of 30%, the Print reports as per speculation on Weibo Corp (NASDAQ:WB). Internal speculation among employees was that Alibaba looked to lay off 30% of its employees while Tencent between 10% - 30% of its employees. Tencent started layoffs within small business…

Benzinga

'That's A Buy Signal': Why Kevin O'Leary Just Bought Alibaba, Tencent And Meituan Stock

Chinese stocks are trading significantly lower Monday amid a COVID-19 outbreak in China's manufacturing hub, developments between China and Russia in relation to war and regulatory scrutiny of Tencent Holdings Ltd (Pink: TCEHY).

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Benzinga

After Alibaba, Tencent Could Attract Regulatory Penalty

The People’s Bank of China discovered Tencent Holdings Ltd (OTC:TCEHY) is guilty of violating some central bank regulations by its WeChat Pay mobile network, the Wall Street Journal reports. Regulators could subject Tencent to a penalty worth at least hundreds of millions of yuan. The central bank’s routine inspection of 2021 found WeChat…

Benzinga

Alibaba Looks To Trim Work Force By Up To 20%

Alibaba Group Holding Ltd (NYSE: BABA) and Tencent Holdings Ltd (OTC: TCEHY) are looking to mass layoffs,

Los Angeles Times

What does Bandcamp's sale to Epic Games mean for independent music?

Since the announcement on Wednesday that online music distributor Bandcamp, a central hub for independent artists and labels selling digital and physical media, has been sold to Epic Games, the gaming giant responsible for Fortnite, Gears of War and the Infinity Blaze series, musicians and fans have been expressing concern…

Benzinga

Tencent Follows Alibaba; To Slash Transaction Fees For SMEs

Chinese social media firm Tencent Holdings Ltd (OTC:TCEHY) looks to reduce transaction fees for small and medium-sized merchants using its WeChat payments system by 10%, Reuters reports. The reductions will apply beginning September 1, 2021, and extend to September 30, 2024. The merchants need to meet China's classification standards for small and medium-sized…

Benzinga

'China's Warren Buffet' Places Orders For Over $5M Tencent's Shares

A mainland billionaire investor has placed heavy orders on Tencent Holdings Ltd (OTC:TCEHY), Bloomberg reports. Duan Yongping, a billionaire entrepreneur dubbed China's Warren Buffet by Chinese media, has placed orders for more than $5 million of Tencent's U.S. listed shares. The share prices rallied in Hong Kong, making up for some of the…

StockNews.com

Netease vs. Tencent: Which Chinese Stock is a Better Buy?

Following a year of underperformance, Chinese stocks should do better this year. While prominent Chinese companies NetEase (NTES) and Tencent Music (TME) are well-positioned to benefit, let’s find out which of these stocks is a better buy now.

Benzinga

Meituan Shares Get Butchered As China Introduces Tougher Laws

Meituan (OTC:MPNGY) shares shed ~15% after China issued new guidelines asking food delivery platforms to cut restaurant fees to reduce business costs, Bloomberg reports. Online food delivery platforms will have to offer preferential fees to restaurants in regions hit by the pandemic, as per the National Development and Reform Commission. Related Content: US Adds…

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