As $1-trillion evaporated from Chinese stocks last week, some investors realised they hadn’t paid enough attention to the country’s most important man: President Xi Jinping.
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It turns out even the most compliant Chinese billionaires aren’t immune to the regulatory onslaught sweeping the world’s second largest economy.
The UK is considering blocking a takeover of ARM by Nvidia due to potential risks to national security, according to people familiar with the discussions.
Shares in both Naspers and its European spinoff Prosus tumbled on Tuesday, following Tencent’s sharp fall after a Chinese state media article described online videogames as “spiritual opium”.
When China began opening up to investment four decades ago, many expected that as its economy became more capitalist, its politics also would become more democratic. They didn’t.
Tencent shares were on track to fall by their most in a decade on Tuesday after a Chinese state media outlet branded online videogames “spiritual opium”.
Bolt Technology, which competes with Uber Technologies in Africa and Europe, doubled its valuation to €4-billion after raising money to finance a grocery delivery service.
Zoom has agreed to pay $85-million and bolster its security practices to settle a lawsuit claiming it violated users’ privacy rights by sharing personal data with Facebook, Google and LinkedIn.
Square, the payments firm of Twitter co-founder Jack Dorsey, will purchase “buy now, pay later” pioneer Afterpay for $29-billion, creating a global transactions giant.
Shares of Pinterest fell about 20% in pre-market trading on Friday after the company warned of slowing user growth in the US, its largest market.