Chinese tech stocks tumbled as weak corporate earnings coupled with a dimming global growth outlook intensified selling.
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Tencent’s revenue missed estimates after a sweeping government crackdown and Chinese economic malaise wiped out growth at the Internet behemoth.
Chinese gaming and social media giant Tencent Holdings reported flat growth in first quarter revenue, its worst-ever such performance.
SpaceX employees are offering to sell shares via a private placement that would value the firm at $125-billion, sources said.
A selloff in technology stocks is spreading from more speculative shares to the world’s biggest companies.
With Amazon.com down 33% this year and Meta Platforms tumbling over 40%, you might expect the carnage in Big Tech is nearly over. You would probably be wrong.
For the past six years, Jared Birchall has served as the right-hand man for Elon Musk, handling the fortune and whimsies of the world’s richest person.
The US is considering imposing new sanctions on Hikvision for violations of human rights, potentially the harshest measures so far against a major Chinese company.
The US is moving towards imposing sanctions on Chinese video surveillance company Hikvision, the Financial Times reported on Wednesday.
The R4.3-billion in pension fund money that the PIC controversially pumped into the Iqbal Survé-linked Ayo Technology Solutions is proving to be a terrible investment.