Date
19 July 2019

Industries

  • NetEase Youdao is seeking to raise at least US$300 million in a US initial public offering. Photo: YouTube

    NetEase e-learning arm builds up content and reach ahead of IPO

    - Jul 19, 2019 5:43pm
    Nasdaq-listed NetEase Inc., widely known for its online games, is expanding its e-learning unit in preparation for a separate US listing. NetEase Youdao is now China’s largest online education brand, serving over 800 million internet users across...
  • As the eurozone is at risk of being destabilized by asymmetric shocks, a larger, cross-border capital market can help mitigate the threat, the authors argue. Photo: Bloomberg

    What’s next for Europe capital markets?

    - Jul 19, 2019 9:41am
    When the United Kingdom eventually leaves the European Union – assuming it does – it will take Europe’s biggest capital market with it. The loss of the City of London could drive the EU’s 27 remaining...
  • OYO founder Ritesh Agarwal has adopted an aggressive expansion model in the China market. Photo: Bloomberg

    India’s budget hotel startup OYO takes the fast lane in China

    - Jul 19, 2019 9:29am
    In less than two years, Indian budget hotel operator OYO has become the largest hotel chain in China. Jinjiang Inn, Huazhu Hotels Group and Home Inns Group used to occupy the top three positions. They control...
  • Sources cite regulatory hurdles for the move by Lufax to exit the peer-to-peer lending business. Photo: Reuters

    Ping An-backed Lufax to exit P2P lending business: report

    Jul 19, 2019 9:25am
    Lufax, one of China’s largest online wealth management platforms that is backed by financial giant Ping An Insurance (02318.HK, 601318.CN), plans to exit its once-core peer-to-peer lending (P2P) business, Reuters reports, citing three sources with direct...
  • Didi  Chuxing said the service will minimize its display of personal information, and offer an in-app pop-up which allows drivers and passengers to double-check the identity of people they are sharing a car with. Photo: AFP

    Didi plans to relaunch Hitch service with new safety features

    Jul 19, 2019 9:14am
    Chinese ride-hailing giant Didi Chuxing plans to relaunch its Hitch carpooling service with added safety features, almost a year after suspending the service following the murder of a female passenger by her Didi driver, Reuters reports....
  • G7 finance ministers and central bank governors pose for a group photo during a meeting in Chantilly, near Paris. Credit: Reuters

    G7 urges tough Libra regulation, agrees to tax digital giants

    Jul 19, 2019 9:01am
    Digital currencies such as Facebook’s planned Libra raise serious concerns and must be regulated as tightly as possible to ensure they do not upset the world’s financial system, Group of Seven finance ministers and central bankers...
  • China has begun certification for 5G handsets as phone makers and telecom operators gear up for commercial launch of new-generation mobile services. Photo: Bloomberg

    China 5G battle set to begin in earnest

    - Jul 18, 2019 12:58pm
    China has been stepping up efforts on the 5G front as it seeks to be among the first in the world in rollout of the next-generation mobile services that could open up many new applications. A...
  • Netflix's quarterly results showed that it lost US customers for the first time since 2011, while global growth also missed targets. Photo: Reuters

    Netflix global growth falls short, US customers shrink

    Jul 18, 2019 9:50am
    Netflix said on Wednesday that it lost US streaming customers for the first time in eight years and that it missed targets for new subscribers overseas, Reuters reports. Announcing its quarterly results, the firm revealed that...
  • Finance ministers and central bank governors from the G7 group of advanced economies meet in Chantilly, north of Paris, on Wednesday. Photo: Reuters

    G7 finance chiefs pour cold water on Facebook’s Libra plans

    Jul 18, 2019 9:23am
    Group of Seven finance chiefs cast a cloud over prospects for Facebook’s Libra digital coin, insisting tough regulatory problems would have to be worked out first, Reuters reports. The massive social media company’s plan to launch...
  • Qualcomm is expected to be hit with another EU fine over the firm's business practices that allegedly aim to thwart rivals. Photo: Bloomberg

    Qualcomm set to face second EU antitrust fine: report

    Jul 18, 2019 9:01am
    Qualcomm could be hit with a second EU antitrust fine as soon as Thursday for blocking a rival from the market more than a decade ago, Reuters reports, citing people familiar with the matter. The chipmaker...
  • Regulators need to ensure that large e-commerce platforms don’t engage in anti-competitive behavior, European Competition Commissioner Margrethe Vestager said on Wednesday. File photo: Reuters

    EU opens antitrust probe into Amazon over use of merchant data

    Jul 18, 2019 8:50am
    Amazon’s use of merchants’ data triggered an EU antitrust investigation on Wednesday, as regulatory concerns mount on how tech giants exploit customer information to reinforce their market power, Reuters reports. The European Commission has been seeking...
  • Huawei Pay, which was launched in Hong Kong on Monday, allows users to settle bills in more than 40,000 retail spots accepting the UnionPay contactless card payment. Photo: AFP

    Huawei rolling out new products to enhance user stickiness

    - Jul 17, 2019 12:54pm
    Despite the potentially debilitating impact of the US embargo on its operations, Huawei Technologies has continued to develop new products as part of efforts to maintain its growth momentum globally. The Chinese telecoms equipment maker has...
  • Cryptocurrencies are routinely launched and traded outside the domain of official financial oversight. Photo: Reuters

    The Great Crypto Heist

    - Jul 17, 2019 10:25am
    There is a good reason why every civilized country in the world tightly regulates its financial system. The 2008 global financial crisis, after all, was largely the result of rolling back financial regulation. Crooks, criminals, and...
  • As Hong Kong grapples with social disturbances in the wake of a controversial extradition bill, some companies have cancelled or postponed their IPO fund-raising plans. Photo: Reuters

    Hong Kong loses IPO crown; social unrest to blame

    - Jul 17, 2019 10:24am
    Budweiser APAC scrapped its plan to raise up to HK$76 billion in a Hong Kong listing, a deal that could have marked the world’s biggest IPO this year. Last month, Hutchison Chi-Med, a biopharmaceutical company backed by...
  • Facebook’s David Marcus testifies before a Senate Banking Committee hearing in Washington on Tuesday on the firm’s Libra cryptocurrency project. Photo: Reuters

    Facebook shouldn’t be trusted with Libra plan: US senators

    Jul 17, 2019 9:22am
    Facebook’s track record should stand in the way of it launching a digital currency, US lawmakers said on Tuesday, labeling the firm’s plan for the Libra crypto unit “delusional” and “crazy”. “Facebook has demonstrated through scandal...
  • Google denies allegations that it is working with the Chinese military. Photo: Bloomberg

    Trump calls for inquiry into Google’s work with China

    Jul 17, 2019 9:19am
    US President Donald Trump said his administration would investigate whether Alphabet Inc.’s Google supports the Chinese government, accusations that a company official refuted hours later at a Senate hearing, Reuters reports. The president repeated accusations made...
  • Tesla has pushed up the starting price of its Model X to 790,900 yuan (US$115,068) in China. Photo: AFP

    Tesla drops cheapest Model X, S variants, adjusts prices

    Jul 17, 2019 9:07am
    Tesla Inc. has dropped the standard-range variants of its Model X and Model S from its product lineup and adjusted prices across its range, Reuters reports. To simplify its offerings, the automaker limited variants of its...
  • Lawmakers in the US are increasingly raising questions about the business practices of big technology firms. Credit: Reuters

    US lawmakers take jabs at Amazon, Big Tech in antitrust hearing

    Jul 17, 2019 9:05am
    The US House Judiciary Committee’s antitrust panel pressed an executive from Amazon on Tuesday about allegations that it competed against its own sellers and pushed them to buy advertising and fulfillment services, Reuters reports. Lawmakers on...
  • Having become an insignificant player in India, Apple is realizing that it needs to step up its game in the world’s second-biggest smartphone market. Photo: Bloomberg

    Why Apple is boosting iPhone production in India

    - Jul 16, 2019 1:41pm
    As the US-China trade war drags on, Apple is tweaking its iPhone manufacturing strategy, aiming to reduce the firm’s over-reliance on production at Chinese factories. To cut the potential risks, the firm has begun to focus...
  • Symantec's failure to seal a deal with Broadcom raises new questions over the future of the US-based antivirus software provider. Photo: Bloomberg

    Symantec ends talks to sell to Broadcom over price: report

    Jul 16, 2019 9:27am
    Cybersecurity firm Symantec Corp has walked away from negotiations to sell itself to chipmaker Broadcom over price disagreements, Reuters reports, citing people familiar with the matter. Broadcom was last week willing to offer as much as...

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