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”.
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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.
Google has asked a judge hearing the US justice department’s antitrust lawsuit against the search giant to compel Microsoft to turn over documents, saying it has failed to comply with a subpoena.
Elon Musk’s brain-chip start-up, Neuralink, has raised US$205-million in a funding round led by Dubai-based venture capital firm Vy Capital, with participation from Google Ventures.
The International Space Station was thrown briefly out of control on Thursday when jet thrusters of a newly arrived Russian research module inadvertently fired a few hours after it was docked to the orbiting outpost.