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EXPLAINED: 2 - The Real Truth

SolarMax Banks on Sunny Name to Draw Investors to Its IPO

Key Takeaways: Solar power systems developer SolarMax is aiming to raise $30 million in a New York listing, but investors could balk at the company’s lack of diversity The IPO marks the latest signal that Chinese listings could soon gain momentum in New York after a yearlong near-halt due to…

Benzinga

Didi Slapped With Hefty $1.2 Billion Fine. How Was the Amount Determined?

Key Takeaways: China’s cybersecurity regulator imposed a big fine of $1.2 billion on Didi after closing a year-long investigation into the company, but how it arrived at the amount has raised concern in the market

Benzinga

Benzinga Before The Bell: Baidu Beats Tesla, Finland Sells $47.5M Bitcoins, Tesla's Bitcoin Sale And Other Top Financial Stories Thursday, July 21

CNBC

Benzinga

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Chinese ride-hailing giant Didi hit with $1.2bn fine

BEIJING: China has fined ride-hailing giant Didi more than 8 billion yuan ($1.2 billion), regulators announced Thursday, concluding a year-long investigation into alleged data security violations.

Bangkok Post

China's Didi Global fined $1.2 billion for data violations

China’s internet watchdog has fined ride-hailing firm Didi Global more than 8 billion yuan ($1.2 billion) following an investigation into the company’s cybersecurity practices

The Independent UK

China fines Didi $1.2bn over ‘egregious’ data security violations

Cyberspace Administration of China says Beijing-based startup illegally collected user data since 2015.

Al Jazeera

China investors call it quits as Xi, ‘zero COVID’ sap confidence

Overseas investors shed a record $150bn in yuan-denominated assets in the first quarter of this year.

Al Jazeera

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Chinese Mortgage Boycott Gains Steam

Homebuyers’ threats to stop payments on unfinished projects could deepen an ongoing real estate crisis.

Foreign Policy

China to fine ride-hailing giant Didi more than $1bn

BEIJING: China is preparing to hit ride-hailing giant Didi with a fine of more than US$1 billion to wrap up a long-running probe, media reports said, boosting investor hopes that the country's tech crackdown is winding down.

Bangkok Post

Chinese Ride-Hailing Giant Didi Bids Goodbye to NYSE

The company’s stock closed 84% down from its IPO price on Friday before its trading moves to the over-the-counter market

Caixin Global

Morning Brief: Top Financial Stories Dominating on Wednesday, June 8

CNBC

Benzinga

DiDi Discusses Stake Acquisition In Sinomach Automobile's EV Division For $150M

DiDi Global Inc (NYSE:DIDI) discussed acquiring a third of the EV unit of state-backed Sinomach Automobile, Reuters reports. Recent reports suggested possible ease in the regulatory crackdown on the ride-hailing company. Didi was amid advanced discussions to acquire shares in small-sized automaker Sinomach Zhijun Automobile from minority shareholders, costing over 1 billion yuan…

Benzinga

China Approves 60 New Games

China has approved the release of dozens of new video games, boosting the shares of some of its biggest tech firms Wednesday on hopes that a long-running and painful crackdown on the sector is easing. The announcement follows a report in The Wall Street Journal on Monday that said regulators…

Asharq Al-Awsat

16 Stocks Moving in Tuesday's Pre-Market Session

Gainers Helbiz, Inc. (NASDAQ: HLBZ) shares rose 38% to $1.27 in pre-market trading following a Form 4 filing showing the purchase of 2,044,676 shares by CEO Salvatore Palella at an average price of $0.99.

Benzinga

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Benzinga

95 Biggest Movers From Yesterday

Gainers AeroClean Technologies, Inc. (NASDAQ: AERC) shares gained 100.4% to close at $4.75 on Monday after the FDA granted clearance for the company's pūrgo technology, classifying it as a class II medical device.

Benzinga

52 Stocks Moving In Monday's Mid-Day Session

Gainers DiDi Global Inc. (NYSE: DIDI) jumped 51.4% to $2.80 after the Chinese government said the company can resume adding new users.

Benzinga

Why Alibaba Stock Is Surging Today

Alibaba Group Holding Ltd (NYSE: BABA) shares are trading higher Monday as Chinese regulators prepare to complete their investigation of ride hailing company DiDi Global Inc (NYSE: DIDI) with a seemingly posi

Benzinga

Morning Brief: Top Financial Stories Dominating on Friday, May 27

CNBC

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Benzinga

Here's Why DiDi Shares Are Trading Higher Premarket

State-owned biggest automobile conglomerate automaker China FAW Group Co is looking to scoop a significant stake in the troubled DiDi Global Inc (NYSE:DIDI), Bloomberg reports. FAW aspired to be a significant shareholder and help Didi pave the way for a Hong Kong listing. Previously Beijing Tourism Group division Shouqi Group and other Beijing-based…

The Times of India

East Bengal find an investor, and it's not Manchester United

CM steps in to 'motivate' Emami Group into financing struggling city giants

Benzinga

DiDi Investors To Vote On US Delisting

DiDi Global Inc (NYSE:DIDI) shareholders will vote to delist from the NYSE to get its services back on to Chinese app stores for the first time in almost a year. The plan to delist comes almost a year after the company pushed ahead with a $4.4 billion initial public offering in the U.S.…

The Guardian - UK

Chinese taxi app Didi shelves plans for major overseas expansion

Exclusive: Prominent tech company cuts half its UK employees amid signs of pressure from Beijing government

The Guardian - AU

‘Beyond a joke’: Uber and taxi drivers plead for relief as petrol prices rise again

Drivers say costs have surged but fares have stayed flat, forcing them to be picky about the trips they choose

Benzinga

Stodgy Tax Services IPO Looks Like What U.S. Investors Want from China Now

Key Takeaways: Lichen China has filed for an IPO to raise about $25 million, positioning itself as a potential consolidator in China’s vast, but highly fragmented, tax services market Company points out it should be able to avoid many of the recent controversies now dogging U.S.-listed Chinese stocks By Doug…

Benzinga

DiDi Faces Double Whammy Of US, China Investigations

The U.S. SEC is probing DiDi Global Inc's (NYSE:DIDI) botched U.S. IPO, the Financial Times reports. DiDi's annual report disclosed that "the SEC contacted us and made inquiries in relation to the offering." DiDi President Jean Liu also made her posts on the Chinese social media platform Weibo Corporation (NASDAQ:WB) invisible to her 10 million…

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