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The Latest Breaking News from Tencent

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…

Benzinga

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.

Radio France Internationale

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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

Benzinga

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.

Al Jazeera

The biggest gaming news of the week: August 5, 2022

The Last of Us Part 2, Skyrim Ohio, and Pokémon's edible dog were among this week's headlines.

USA Today Sports Media Group

Benzinga Before The Bell: Should Investors Worry About Tesla's China Sales, Gold Back In Focus, Nio Smartphone Could Soon Be A Reality Other Top Financial Stories Friday, August 5

CNBC International Airlines Prepare For Mayhem Of Summer Travel Season: Report

Benzinga

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Tencent Seeks Bigger Stake in ‘Assassin’s Creed’ Maker Ubisoft

Tencent Holdings Ltd plans to raise its stake in French video game group Ubisoft Entertainment SA as the Chinese gaming giant pivots to the global gaming market, four sources with direct knowledge of the matter told Reuters. China's largest social network and gaming firm, which bought a 5% stake in…

Asharq Al-Awsat

Tencent reportedly hopes to raise its stake in Ubisoft by a considerable degree

Chinese gaming giant Tencent looks to become Ubisoft's biggest shareholder.

USA Today Sports Media Group

Alibaba, JD Surge Over 3% As Earnings Come Into Focus: Hong Kong Traders Shrug Off Pelosi-Linked Taiwan Tensions

Shares of Alibaba and JD.com rose over 3% in Wednesday morning opening trade, with Hong Kong’s benchmark Hang Seng Index also beginning on a positive note, gaining 0.91%. Alibaba is set to release its June-quarter earnings on Thursday.

Benzinga

Alibaba, Baidu, Tencent Slide: Hang Seng Falls 1% As Bank Of Japan Rate Decision Eyed

Hong Kong’s benchmark Hang Seng Index opened in the red on Thursday as shares of Baidu Inc (NASDAQ: BIDU), Alibaba Group Holding Ltd. (NYSE: BABA<

Benzinga

Alibaba Slips As Execs Summoned, China Growth Pace Slows — Nio, EV Peers Buck Trend

Shares of major U.S.-listed Chinese companies traded mixed in Hong Kong on Friday, with tech heavyweights like Alibaba Group Holdings (NYSE: BABA), Baidu Inc (NASDAQ: BIDU), JD

Benzinga

China was seen as a gold mine for Western tech companies but now they are leaving there empty-handed

US billionaires once believed the "sky would be the limit" when it came to making money in China, however, in recent months, several tech giants — including Amazon's Kindle and Airbnb — have joined a growing exodus from the country.

ABC News

China's big tech problem: even in a state-managed economy, digital companies grow too powerful

China’s digital economy has advanced rapidly over the past two decades, with services, communications and commerce moving online.

The Conversation

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The Guardian - UK

Influence Empire by Lulu Chen review – the story of China’s Tencent

A fascinating study of the tech giant and its symbiotic relationship with the Chinese government

Businessweek

WeChat Is China’s Most Beloved (and Feared) Surveillance Tool

This one app became so powerful that it could have posed a real threat to Beijing’s rule, the new book Influence Empire reveals.

The Independent UK

Alibaba and Tencent stocks plunge after latest fines

Shares of Chinese technology firms Alibaba and Tencent have tumbled after Chinese regulators fined their subsidiaries for failing to disclose transactions and not complying with anti-monopoly rules

Asharq Al-Awsat

China Regulator Fines Alibaba, Tencent for Disclosure Violations

China has imposed fines on technology giants Alibaba and Tencent as well as a range of other firms for failing to comply with anti-monopoly rules on the disclosure of transactions, the country's market regulator said on Sunday. The State Administration for Market Regulation (SAMR) released a list of 28 deals…

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Benzinga

Blizzard Entertainment Acquires This Boston-Based Studio For Undisclosed Terms

Activision Blizzard, Inc's (NASDAQ:ATVI) Blizzard Entertainment closed the acquisition of the Boston-based studio Proletariat. The financial terms of the transaction remain undisclosed. The acquisition will help better serve players in the multiplayer online role-playing game World of Warcraft. "Over the next two years, we plan to hire hundreds of the best developers to…

Benzinga

Tencent, Other Chinese Companies Follow Western Counterparts In Laying off Staff As Economic Slowdown Weighs

Chinese tech giants like Tencent Holding Ltd (OTC:TCEHY) and TikTok parent ByteDance Ltd implemented fresh layoffs affecting thousands of employees in their latest round of cost-cutting, the Wall Street Journal reports. The job cuts added on to the tens of thousands of employees already axed by Chinese internet companies since late 2021 after the domestic regulatory crackdown crushed the…

Benzinga

Benzinga Before The Bell: Texas Giga Tesla's Output Ramp Up, California's Lithium Tax, Spot Bitcoin ETF Proposal Rejection And Other Top Financial Stories Thursday, June 30

Reuters Hyundai, Affiliates Plan To Set Up New Company In US:

Benzinga

Why China's JD Is Giving Rival Tech Giant Tencent An Additional $220M Stake

Chinese e-commerce giant JD.Com Inc (NASDAQ: JD) on Wednesday said that it renewed its strategic cooperation agreement with the tech and gaming giant Tencent Holdings (OTC: TCEHY) for a period of three years.

Benzinga

Alibaba Falls 1%, Nio Gains 4%: What's Weighing On Hong Kong Stocks Today

Shares of major U.S.-listed Chinese companies were trading mixed in Hong Kong on Thursday, as major tech stocks like Alibaba Group Holdings (NYSE: BABA) and Tencent Holdings (OTC: TCEHY) slipped, while Baidu In

Benzinga

Here's Why Kanzhun, Full Truck Alliance Shares Are Trading Higher Today

The app of online recruitment services company Kanzhun Ltd (NASDAQ:BZ) and two apps of the logistics platform Full Truck Alliance Co Ltd (NYSE:YMM), namely, Yunmanman and Huochebang announced the resumption of new user registrations, Reuters reports. The apps were under review by China’s cyberspace regulator. The Chinese government recently expressed support for the domestic tech industry, which had…

Benzinga

Why Alibaba, Nio, Chinese Peers Are Sliding In Hong Kong Today

Shares of major U.S.-listed Chinese companies were trading lower for a second straight session in Hong Kong on Wednesday, as major tech stocks like Alibaba Group Holdings (NYSE: BABA), Tencent Holdings (OTC: TCEHY),

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