SHANGHAI (Reuters) – China’s top market regulator said on Wednesday it has fined units of Alibaba Group Holding Ltd, Tencent Holdings Ltd, and Bilibili Inc for failing to properly report about a dozen deals. (Reporting by Josh Horwitz; Editing by Kim Coghill)
By Alun John HONG KONG (Reuters) – Asian stocks slipped on Wednesday following a mixed Wall Street session as higher U.S. Treasury yields weighed on global tech firms and pushed the dollar to a five-year high against Japan’s yen. U.S. yields rose on Tuesday as bond investors geared up for interest rate hikes from the…
HONG KONG (Reuters) -Shares of China Huarong Asset Management Co Ltd plunged as much as 50% in Hong Kong on Wednesday to a record low, as trading resumed after a nine-month suspension, giving investors the chance to revalue the embattled company. Shares were last trading at HK$0.52 ($0.067), the lowest since the company debuted in…
By Chibuike Oguh (Reuters) – Private equity firm TPG disclosed on Tuesday it is aiming for a $9.5 billion valuation in its U.S. initial public offering (IPO), as it presses on with a stock market flotation later this month. The underperformance of its peers’ shares over much of the last decade gave TPG pause in…
By Tom Westbrook SYDNEY (Reuters) – The yen was pinned near a five-year low on the dollar on Wednesday and nursing losses on other crosses as traders wagered the Bank of Japan would lag a looming wave of global policy tightening as inflation gallops ahead around the world. The yen tumbled through support around 115.50…
SINGAPORE (Reuters) -Chinese gaming and social media company Tencent Holdings Ltd has sold 14.5 million shares in Singapore-based gaming and e-commerce firm Sea Ltd at $208 each to raise $3 billion, according to a term sheet seen by Reuters on Wednesday. Tencent sold the stock at the lower end of the $208.00-$212.00 per share range…
(Reuters) – Chinese gaming and social media company Tencent Holdings Ltd on Wednesday sold a stake worth $3.01 billion in Singapore-based gaming and e-commerce firm Sea Ltd. Tencent sold 14.5 million shares in Sea Ltd at $208 each in a block trade, according to a term sheet reviewed by Reuters. It had said on Tuesday…
By Paul Lienert (Reuters) – Hyundai Motor Co envisions an interactive and partly virtual future it calls “metamobility,” where a variety of robotic devices interact with humans to provide a broad range of mobility services, from automated individual transportation to remote control of robots in “smart” factories. Hyundai executives, led by Chief Executive Euisun Chung,…
(Reuters) – U.S. telecom companies and airlines have been fighting for weeks over the potential impact of 5G wireless services on aircraft, in stark contrast to the rollout of new-generation services elsewhere, which has broadly gone ahead without airing new safety concerns. Here is some background on the dispute, in which Verizon Communications and AT&T…
(Reuters) – Nevada has agreed to join a proposed nationwide settlement worth up to $26 billion resolving claims that three large U.S. drug distributors and the drugmaker Johnson & Johnson fueled a deadly opioid epidemic, the state’s attorney general said on Tuesday. Nevada was one of a handful of states that until now was not…
