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China ordered 34 Internet corporations Tuesday to rectify their anti-competitive practices within the next month, signalling that Beijing’s scrutiny of its most powerful firms hasn’t ended with the conclusion of a probe into Alibaba Group Holding Ltd.
Alibaba's massive fine is only the start of Beijing's plan to reverse monopolistic positions taken by China's tech giants, say analysts.
HONG KONG (Reuters) - Chinese internet and social media giant Tencent Holdings Ltd plans to raise up to $4 billion in a bond launched on Thursday, two sources with direct knowledge of the matter said.
LONDON (Reuters) -Deliveroo said a more-than doubling in first quarter orders during coronavirus lockdowns was an initial step in proving itself following the debacle of the food delivery company's London flotation last month.
JD.com, Meituan and ByteDance among the first to pledge antitrust compliance after being told by Beijing to learn a lesson from Alibaba
The statements strictly toed the line from Tuesday’s meeting co-hosted by the antitrust watchdog, cyberspace administration, and taxation authority. ByteDance, the owner of short video app TikTok and Douyin, made 13 promises in its public statement.
Long-form video platform Tencent Video and short video service Weishi will be combined into a new operation. The new online video operation will form part of Tencent’s platform and content group.
Their makers say they offer much-needed confidence to shoppers whose awareness of the importance of hygiene has been piqued by the pandemic. A recent survey found most Hongkongers would rather see robots disinfecting public spaces than humans.
SINGAPORE (Reuters) - Grab Holdings, Southeast Asia's ride-hailing to delivery giant, is considering a secondary listing in its home market of Singapore after completing a Nasdaq listing via a $40 billion SPAC merger, three sources familiar with the matter said. Listing on Singapore Exchange would enable Grab to have an investor base close to where its regional business is based, the people said, potentially offering its customers, drivers and merchant partners easier access to trade its shares. Grab, a household name across Southeast Asia, is in the early stages of considering a secondary listing in the city-state, said the sources, who declined to be identified as they were not authorised to speak about the matter.
VANCOUVER (Reuters) - The defense team for Huawei's chief financial officer, Meng Wanzhou, will ask a Canadian court to delay upcoming hearings in her U.S. extradition case, the court said on Friday.
Amazon’s clash with Tencent killed its Lord Of The Rings video game after the Chinese tech giant acquired Leyou
Amazon and Tencent failed to agree to terms to keep developing a highly anticipated Lord of the Rings MMORPG. Leyou, Amazon’s partner for the game, was acquired by Tencent in December for US$1.3bil.