Share worth $14.7 billion in the Chinese social media and gaming giant Tencent’s has been sold by the firm’s biggest shareholder. The seller plans to use the money generated from the sale for investing in other growth oriented ventures. The Chinese tech giant Tencent said in a Hong Kong Stock Exchange filing on Thursday that…
Japanese conglomerate Toshiba has confirmed recent reports of the company being made an offer of about $20bn for an acquisition by a British private equity fund. After confirming the bid by CVC Capital Partners that it got, trading in the stocks of the scandal hit firm was temporarily halted on Tokyo’s stock exchange. According to…
The historic rally in the price of bitcoin helped that cryptocurrency exchange Coinbase to ramp up its revenues nine folds for the first quarter of the current year compared to the same period a year ago, the company said while preparing for making a debut on the Nasdaq stock exchange next week. Coinbase said in…
In the wake of the coup in Myanmar in February, a review of how it would bring to an end a joint venture in the country with a company that is controlled by the military there is being conducted by South Korean steel making giant POSCO, said a report from the news agency Reuters quoting…
The Swiss bank Credit Suisse lost nearly $4.7 billion as well as the jobs of its two top executives because of the collapse of US hedge fund Archegos Capital last month. After taking a charge of 4.4 billion Swiss francs ($4.7 billion) in relation to the failure of Archegos, the bank was likely to report…
Thailand will consider as its “principal vaccine” against Covid-19 the coronavirus shot developed by AstraZeneca and the University of Oxford with this Asian country trying to reopen and revive its tourism industry which is a crucial one for the country, said the country’s public health minister in an interview to a television channel. There were…
Following reports of the better than expected and record deliveries made by the United States based electric car maker Tesla in the first quarter of the year, the shares of the company surged on Monday to the extent that the company is now poised to add about $50 billion to its market value. The strong…
The clothing major H&M has been warned by the Chinese government that it would not be able to earn a penny from the Chinese market if they refuse to purchase cotton that is produced in the Xinjiang region of the country. There is a strong social backlash in China against H&M and other western brands…
The findings of a World Health Organization draft report says that the an animal was the probable mode of transfer of the novel coronavirus that causes Covid-19 and its spread had possibly started not more than a month or two prior to the first cases were noticed in December 2019 in Wuhan city of China.…
China’s answer to the video sharing social media platform YouTub, which is banned in the country – Bilibili, has slumped on its debut at the stock market soon after they were launched on the Hong Kong stock exchange. The share price of the company opened at HKD$790 ($101.6), which is 2.2 per cent below their…
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