China’s market regulator on Saturday said it would block Tencent’s plan to merge the country’s top two videogame streaming sites, Huya and DouYu, on antitrust grounds.
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Shareholders of technology investor Prosus on Friday approved a deal with parent Naspers that will move most of the economic value of the intertwined companies to Amsterdam.
Steve Ballmer, the former CEO of Microsoft, has a net worth of more than $100-billion, making him the ninth person in the world to reach that lofty plateau.
Jeff Bezos is leaving the rest of the world behind when it comes to wealth accumulation, reaching a record $211-billion net worth on Tuesday after Amazon.com shares rose 4.7%.
Tencent Holdings, which has lost more than a fifth of its market value in the past few months, now appears to be losing its biggest supporter: Chinese investors.
Naspers and Prosus, the European-listed spin-off of Naspers, have appointed Ervin Tu as group chief of investments, strategy and mergers & acquisitions of both companies.
Consumer price inflation accelerated to a 30-month high of 5.2% year on year in May, moving above the midpoint of the central bank’s target range for the first time since Covid-19 struck.
The Nasdaq ended at a record high on Tuesday, lifted by Amazon, Microsoft and other top-shelf tech companies as investors shifted their focus to growth stocks.
Microsoft took its place in the history books as just the second US public company to reach a $2-trillion market value, buoyed by bets its dominance in cloud computing and enterprise software.
Naspers reported a 24% rise in profit for the year that ended 31 March, boosted primarily by the performance of its investment in China’s Tencent Holdings, the company said on Monday.