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BEIJING/HONG KONG: Chinese gaming and social media company Tencent will hand a $16.4 billion JD.com stake as a dividend to its shareholders, weakening its ties to the e-commerce firm and raising questions about its plans for other holdings.
LONDON: European shares climbed on Monday to end near record levels, led by technology stocks which surged to their highest this year as a surprise rise in German factory orders pointed to improving global demand and boosted sentiment.
NEW DELHI: Prosus NV has agreed to acquire Indian online payments service BillDesk for 345 billion rupees (US$4.7bil or RM19.5bil), making its largest global acquisition to date in the Asian nation.
BENGALURU: Food delivery startup Swiggy announced it closed a US$1.25bil (RM5.3bil) funding round led by SoftBank Vision Fund 2 and Prosus, just days ahead of rival Zomato Ltd’s listing.
Global M&A hits record highs with $1.5 trillion of Q2 deals
SHANGHAI: Tencent Holdings Ltd. jumped the most in a month after White House officials are said to have reassured American businesses that a ban on its WeChat app won’t be as broad as feared.
FRANKFURT: The economic fallout from the coronavirus has battered a sector that never recovered from the global financial crisis more than a decade ago. The focus for the rest of the year is on how banks can handle looming loan losses, whether any will be able to pay dividends, and possible further regulatory relief.
Bloomberg: Tencent Holdings Ltd. delivered disappointing earnings and warned about a difficult advertising environment in 2020, voicing caution about how China’s first economic contraction in decades might affect its sprawling businesses.