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The Latest Breaking News from Tencent

China highlights a long-debated question about economic development: Can a top-down autocracy outperform liberal market economies in terms of innovation and growth?

Bangkok Post

Things Don't Add Up Well in Used Computer Renter's IPO Bid

Key Takeaways: LX Technology, parent of Little Bear Rental, has been approved for a Hong Kong IPO, despite losing over 740 million yuan in the past three and a half years Its major early shareholders, including Tencent, Lenovo and JD.com, have started cutting their ties with the company even before…

Benzinga

What the eclipse of Tencent by a liquor company says about Xi’s China

Kweichow Moutai has overtaken the tech group in market capitalisation thanks to the whims of one man

Financial Times

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China's Video Game Firms Welcomed in Europe

China is investing billions in Europe's video game industry, but analysts have warned that there could be trouble along the road unless regulators start to take stricter notice. Europe is embroiled in long-running disputes with Beijing over trade, environment, education, raw materials, intellectual property -- but so far video games…

Asharq Al-Awsat

Musk has a 'super app' plan for Twitter. It's super vague

For months, the Tesla and SpaceX CEO has expressed interest in creating his own version of China’s WeChat — a “super app” that does video chats, messaging, streaming and payments — for the rest of the world

The Independent UK

Brighter Times Could Beckon for JD.com after Stormy Spell

Key Takeaways: Key factors in a JD share-price rally would be the results of a U.S. regulatory review of Chinese stocks and the expected launch next year of a scheme to promote dual-currency share trading in Hong Kong A settlement in a sexual assault case against company founder Richard Liu…

Benzinga

Elon Musk's 'X' App To 'Rule Them All' Gets Twitter Kickstart — But What Form Could It Take?

Tesla Inc (NASDAQ: TSLA) CEO Elon Musk said purchasing Twitter Inc (NYSE: TWTR) would hasten the birth of “X” an app for everything, but the shape the upco

Benzinga

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China grants gaming license to NetEase, 1st since crackdown

China has granted a game license to its second largest gaming firm, NetEase, the first in over a year in a possible sign Beijing may be easing a crackdown on the industry

The Independent UK

Tongcheng Preparing to Stand on Its Own Without Trip.com and Tencent?

Key Takeaways: A new stock exchange filing shows leading online travel agent Trip.com may have begun to sell down its longtime stake in Tongcheng, the industry’s second-largest player China’s online travel industry is riddled with anticompetitive cross-holdings, including Trip.com’s stakes in Tongcheng and Qunar

Benzinga

All in the Family: Cash-strapped ZhongAn Taps Chairman's Ties to Fund a Money-losing Unit

Key Takeaways: Sinolink will buy about 156 million new shares in ZhongAn’s overseas business development unit, ZhongAn International, for about $103 million The deal comes in a difficult year for ZhongAn, whose own cash holdings are dwindling By Warren Yang

Benzinga

Top Financial Stories Thursday, September 08: Amazon Slows Down Hiring, Netflix Focuses On Cost Cutting, iPhone 14 Will Be Available In Russia And More…

Reuters

Benzinga

Ubisoft Shares Tumble as Tencent Deal Seen Dampening Buyout Prospects

Shares in Ubisoft Entertainment tumbled on Wednesday after it announced a deal that sees China's Tencent Holdings raise its stake in the company, a move which analysts say dampens the prospect of a full sale of the French game maker. The deal with Tencent Holdings values the maker of "Assassin's…

Asharq Al-Awsat

Alibaba, Nio Fall Over 2% In Weak Hang Seng Opening: Why Investors Are Focused On Fed's Beige Book, ECB Move

Hong Kong stocks opened lower on Wednesday, with the benchmark Hang Seng Index down 1.43%, as investors braced for the release of the U.S. Federal Reserve's Beige Book (a commentary on economic conditions) due later today and the European Central Bank's policy decision on Thursday.

Benzinga

Tencent and Sony increase stake in Elden Ring studio FromSoftware

Both companies have collectively bought over 30 percent of the studio behind Dark Souls, Sekiro, and Elden Ring.

USA Today Sports Media Group

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Inverse

Why the FromSoftware Sony deal could be great news for Dark Souls fans

Rumors that Sony would buy 'Dark Souls' dev FromSoftware still haven't panned out, but Sony and Tencent recently buying shares could change FromSoft's future.

The Independent UK

China accused of blocking posts from supporters of Minnesota student who accused Chinese billionaire of rape

Chinese activists allege that their posts about the Minnesota court case are being silenced and accounts blocked

Input

Logitech leak reveals cloud-based gaming handheld with xCloud and Steam

Leaked images show what could be the home screen of Logitech’s upcoming handheld cloud gaming device.

Benzinga

The Internet is Now So Centralized That One Company Can Break It

We are now at a point where the Internet has become so centralized that a single company can bring it to its knees. What began as a military communication system 53 years ago and evolved into a fundamental human right is now so connected to everything that any fallibility could…

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Benzinga

Is Tencent Winding Down Its Big Investments?

Key Takeaways: Reuters reported Tencent might sell some or all of its Meituan holdings this year, though Tencent called the report ‘inaccurate’ Some think Tencent might sell other stakes in its more than 70 U.S.- and Hong Kong-listed portfolio companies to raise funds to buy back its shares By Fai…

Benzinga

Livestream Gamer DouYu Edges Ahead in Cost-cutting Battle

Key Takeaways: DouYu’s revenues fell by around 22% in the second quarter, but the company broke a six-season losing streak with an adjusted net profit of 23.50 million yuan Huya’s revenue tumbled 23% in the same period, and it barely eked out an adjusted net profit after slashing costs By…

Benzinga

Alibaba, EV Stocks Fall, Tencent Bucks The Trend After Earnings Report: Hang Seng Index Today

Hong Kong’s Hang Seng index opened in the red on Thursday, losing 0.39% in morning trade, following a sluggish session on Wall Street on Wednesday. The U.S. Federal Reserve has indicated more rate hikes according to the minutes of its policy meeting. However, it did indicate the pace of the…

Investors Business Daily

Tencent Second-Quarter Results Miss, Reports First Revenue Decline

Tencent stock was trading up Wednesday as it reported quarterly results that missed analyst estimates on the top and bottom lines.

Radio France Internationale

Chinese tech giants submit 'top secret' algorithms to Beijing regulator

Chinese tech giants including Alibaba, Tencent and ByteDance – the parent company behind the TikTok video app – have submitted details of algorithms used in some of their products to China's state regulator, in an unprecedented move that strengthens Beijing's oversight of the sector.

Benzinga

Benzinga Before The Bell: Elon Musk May Get Info It Wants From Twitter, Apple To Lay Off 100 Recruiter Contractors, Saudi's Investment Fund Picks Stocks Of US Big Tech And Other Top Financial Stories Tuesday, August 16

Reuters

Al Jazeera

China’s gamers hit pause button amid few releases, tough economy

Video game revenues decline for first time on record amid Beijing’s regulatory crackdown and strict pandemic curbs.

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