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The Latest Breaking News from Tencent

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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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.

Inverse

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

The Independent UK

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.

Input

Baidu reports 5% year-on-year decrease in Q2 revenue

Beijing (AFP) - Chinese internet giant Baidu Inc.on Tuesday announced second-quarter revenues of 29.6 billion yuan ($4.3 billion), down five percent from last year after the company faced a challenging economic climate and tight controls on China's once-thriving tech sector.

AFP

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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…

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…

Benzinga

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.

Investors Business Daily

Chinese tech giant Tencent revenue falls for first time since going public

Hong Kong (AFP) - Chinese tech giant Tencent on Wednesday posted its first drop in quarterly revenue since going public, as the company grapples with China's economic downturn, pandemic disruptions and ongoing scrutiny from regulators.

AFP

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

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.

USA Today Sports Media Group

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.

Benzinga

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

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Asharq Al-Awsat

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…

USA Today Sports Media Group

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

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

The Street

Microsoft, Sony, Nintendo Have a Surprising New Console Rival

The world's biggest videogame company is -- not the one you think it is.

Benzinga

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

ABC News

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.

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