China Readies Big Tencent Fine in Crackdown, Reuters Says
Zheping Huang, Bloomberg News A Tencent Holdings Ltd. s QQ penguin mascot stands in Shenzhen, China, on Thursday, Aug. 15, 2019. China plans to let Shenzhen City, which borders Hong Kong, play a key role in science and technology innovation in the Guangdong-Hong Kong-Macau Greater Bay Area, according to state media. Photographer: Qilai Shen/Bloomberg , Bloomberg
(Bloomberg) China is preparing to slap a fine on Tencent Holdings Ltd. as part of its antitrust crackdown on the countryâs internet giants, Reuters said, citing people with knowledge of the matter.
Tencent may face a fine of at least 10 billion yuan ($1.6 billion), which is less than the $2.8 billion levied upon fellow titan Alibaba Group Holding Ltd., according to the report. The company faces penalties for not properly reporting past acquisitions and investments for antitrust reviews, as well as for an
Exclusive: China readies Tencent penalty in antitrust crackdown - sources
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China Reins In Tech Giants’ Finance Arms After Hobbling Ant
Bloomberg 6 hrs ago Bloomberg News © Bloomberg Tencent Headquarters As Asia s Largest Conglomerate Said to Face Broad China Clampdown on Fintech, Deals
(Bloomberg) Chinese regulators imposed wide-ranging restrictions on the fast-growing financial divisions of 13 companies including Tencent Holdings Ltd. and ByteDance Ltd., leveling many of the same curbs employed against Jack Ma’s Ant Group Co. in a crackdown on the tech sector.
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Units of JD.com Inc., Meituan and Didi were also among firms summoned to a meeting with several watchdogs including the central bank, which spelled out a raft of requirements including stricter compliance when listing abroad and curbs on information monopolies and the gathering of personal data. Companies must restructure their financial wings into holding companies as part of a broad effort to subject themselves to more rigorous supervision, and
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Commonwealth Bank of Australia‘s (ASX: CBA) CommSec shares service tells us both the ASX and international shares (almost always just US shares) that are the most popular with its Australian customer base.
CommSec is one of the most popular brokers in the country. As such, this information gives us a nice insight into what the average Aussie investor is finding interesting beyond our shores.
Tesla and Coinbase dominate most traded International shares on the ASX
Tesla Inc(NASDAQ: TSLA) – representing 4.8% of total trades with a 69%/31% buy-to-sell ratio.
Coinbase Global Inc(NASDAQ: COIN) – representing 4.4% of total trades with an 82%/18% buy-to-sell ratio.
China readies big Tencent fine in crackdown: report
Bloomberg
China is preparing to slap a fine on Tencent Holdings Ltd (騰訊) as part of its antitrust crackdown on the nation’s Internet giants, Reuters said, citing people with knowledge of the matter.
Tencent might face a fine of at least 10 billion yuan (US$1.6 billion), which is less than the US$2.8 billion levied upon fellow titan Alibaba Group Holding Ltd (阿里巴巴), the report said.
The company faces penalties for not properly reporting past acquisitions and investments for antitrust reviews, as well as for anticompetitive practices in some businesses, particularly in music streaming, the news agency said.
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