Tencent Financial News

13.07 / 15:13

UPS Provident Platform Racing Tencent Baidu regulatory China's slow AI roll-out points to its tech sector's new regulatory reality

China has joined the global rush to generative artificial intelligence, boasting close to 80 AI models from firms like Baidu and Alibaba and startups attracting almost $14 billion of funding over the last six months. But unlike in the West, where OpenAI's ChatGPT has attracted more than 100 million monthly users whose inputs help it to learn from to constantly refine and improve its product, no Chinese AI chatbots have been made available to the general public.

12.07 / 11:15

Platform Tencent Baidu regulatory Beijing's regulatory crackdown wipes $1.1 trln off Chinese Big Tech

China's major tech companies have lost over $1 trillion in value since the government began its regulatory crackdown on the sector more than two years ago. This staggering figure is equivalent to the entire economy of the Netherlands. However, there is now hope among investors that the strict rules that have hindered the industry's growth since late 2020 may begin to ease.

11.07 / 17:33

Amazon Microsoft JPMorgan Platform Apple Tencent Midday movers: Amazon, WD-40, JPMorgan and Zillow rise

Investing.com — U.S. stocks were rising as investors await more comments from Fed officials and a key inflation report on Wednesday.

11.07 / 15:29

UPS BLOCK Microsoft Mobile Tencent Sony US court Activision Microsoft wins US court nod to buy Activision in FTC loss

Microsoft Corp. won a court’s okay to move forward with its $69 billion deal to buy Activision Blizzard Inc., defeating an effort by the US Federal Trade Commission to block the largest ever gaming deal. The decision by Judge Jacqueline Scott Corley in San Francisco means Microsoft can seek to close its merger with Activision ahead of a July 18 deadline everywhere except for the UK, which vetoed the deal in May.

11.07 / 11:41

Booking Platform Apple Tencent Apple launches store on Tencent's WeChat messaging app

Investing.com — Apple Apple (NASDAQ:AAPL) will begin to sell its products on Tencent's (HK:0700) megapopular messaging app WeChat as the tech giant looks to grow its retail presence in China.

11.07 / 06:43

Provident Landmark PwC Tencent NetEase audit US renews audit inspections of Chinese firms

US audit officials have started a fresh round of inspections of New York-listed Chinese companies in recent weeks amid simmering tensions between the world’s two largest economies.

11.07 / 05:29

UPS Tencent Baidu KOSPI Asian stocks Asian stocks surge as markets bet on peak Fed rates, China stimulus

Investing.com — Most Asian stocks rose sharply on Tuesday amid expectations that the Federal Reserve was close to concluding its rate hike cycle for the year, while the prospect of more stimulus measures from China also aided sentiment.

11.07 / 05:29

UPS Manufacturing Tencent Baidu regulatory Chinese tech giants extend rally on regulatory relief, stimulus bets

Investing.com — Heavyweight Chinese technology stocks rose on Tuesday, extending a recent run of strong gains as traders bet on a clearer regulatory outlook for the sector, while expectations of more stimulus measures also aided sentiment.

10.07 / 06:37

UPS IPO Provident Platform Tencent Alibaba, Tencent shares rise as investors bet China’s tech crackdown is over

Alibaba Group and Tencent shares rose in Hong Kong on Monday after China’s $984 million fine against the Jack Ma-founded Ant Group appeared to signal the end of a regulatory crackdown on the country’s technology sector. Following the penalty on Friday, the Alibaba affiliate announced a share buyback that values the fintech at a 75% discount to the valuation touted in an abandoned initial public offering (IPO) plan, but is seen as providing liquidity and certainty to investors.

08.07 / 04:27

UPS IPO Tencent Ant valuation Ant to buy back shares at 70% lower valuation than at IPO

Ant Group Co. is proposing to buy back as much as 7.6% of shares in an effort to retain talent and offer an exit for investors ensnared by a years-long regulatory crackdown at the company. Ant’s planned repurchase of the equity would value the company at about 567.1 billion yuan ($78.5 billion), it said in a statement on Saturday.

07.07 / 19:53

UPS IPO Reuters Platform Tencent Fine Ant regulatory China ends Ant Group's regulatory revamp with $984 million fine

By Julie Zhu and Jane Xu

07.07 / 03:35

Reuters Tencent NetEase audit US renews audit inspection of China firms: Report

NetEase Inc, Bloomberg News reported on Thursday. The inspection, part of an agreement signed last year, comes amid rising tensions between the United States and China, including U.S.

07.07 / 00:41

COST Digital Aware Tencent SoftBank Walmart Buyback Flipkart staff to get PhonePe buyback Esop payout this month

Flipkart employees will finally receive a one-time cash payout from a $700-million employee stock option (Esop) buyback that the ecommerce major is facilitating as part of its separation from payments firm PhonePe this month, people aware of the matter told ET. “The payouts to employees will be made by July 31… We made this communication to our employees previously,” a Flipkart spokesperson told ET over email without sharing further details. Eligible former and current employees will receive $43.67, or about Rs 3,615 for each unit of Esop they hold in Flipkart as compensation for the loss of PhonePe’s value in the stock option as a result of its separation, the company had said in a recent internal note.

03.07 / 16:01

Facebook BLOCK Strategy Apple Tesla Tencent ByteDance Zuckerberg’s Quest to Re-Enter China Faces Challenge: His Own Words

Mark Zuckerberg in late 2021 had a question for those working on Meta Platforms’ strategy for its virtual-reality headset: If Apple can sell iPhones in China, and Tesla can sell cars, why can’t we sell our devices there? The question, posed on a video call, led to a push by Meta to restart its China business by selling its Quest headsets in the country, according to a person familiar with the matter, more than a decade after Facebook was blocked there. The company held discussions with several Chinese tech companies and has made progress with videogame powerhouse Tencent Holdings, people familiar with the matter said.

03.07 / 11:46

UPS MET Disney Tencent Sony Fortnite Maker to Pay $520 Million in FTC Probe

Epic Games, developer of the popular online game Fortnite, has agreed to pay $520 million in penalties and consumer refunds to settle allegations by the U.S. Federal Trade Commission (FTC) that the game violated children's privacy protections and duped players into making unintended in-game purchases.

27.05 / 15:49

UPS ETF Airlines Tencent Baidu Consumers are starting to fire up China's pandemic-battered economy, two ETF experts find

China's pandemic-battered economy is starting to see consumers open their wallets wider, according to KraneShares' Brendan Ahern.

08.05 / 12:51

business Government Blockchain Tencent Backed collapses Tencent-backed Everledger collapses amid lack of funding: Report

The Australian blockchain company Everledger has reportedly entered insolvency proceedings after failing to raise new funding from an undisclosed investor.

03.05 / 16:33

Provident Digital CEO Platform Tesla Tencent Tencent Cloud Launches Deepfake Generator

Deepfake Generator, a New Service Offered by Tencent Cloud, Gives Users the Ability to Generate Fake Videos of Other People

27.04 / 09:39

Platform Software Tencent China’s WeChat to Allow More In-app CBDC Payments – Digital Yuan Pilot “Accelerates”

The Chinese tech giant Tencent has stated that its WeChat ecosystem will let users make digital yuan payments on applets and video channels.

23.03 / 08:09

Facebook Target Platform Strategy Tesla Tencent Time ad Tencent's online ad revenue grows for the first time in more than a year

BEIJING — Chinese tech giant Tencent reported better-than-expected quarterly revenue on Wednesday, helped by growth in ads within its growing «video accounts» business.

27.02 / 22:25

Blockchain UPS Provident Platform Tencent Bitcoin week Cryptocurrencies to Watch: Week of Feb. 27

The cryptocurrency market had a middling week, staying around current price levels. While a strong bull run that pushes up prices doesn't look likely at the moment, the crypto market may have stabilized. Several tokens jumped in price in the latest week, as reviewed below.

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