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October 22, 2021

Alibaba Group Holding Ltd

Altimeter’s Brad Gerstner cashes in travel trade, bought Peloton and Zoom on dip

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CNBC – For more and to sign up click here Altimeter Capital Chairman and CEO Brad Gerstner said his hedge fund sold stakes in United Airlines and Expedia, adding that easy gains from the rebound in travel stocks have been realized. “On July 1 this year after a big run-up......

Alibaba apps are starting to support Tencent’s WeChat Pay. Here’s why it’s a big deal

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CNBC – For more and to sign up click here A WeChat messaging app logo is seen on an smartphone. NurPhoto | NurPhoto | Getty Images GUANGZHOU, China — For years, China’s major internet platforms have operated as walled gardens, blocking links from rivals and not allowing users to purchase......

China and the U.S. are challenging Europe’s role as top tech regulator

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CNBC – For more and to sign up click here European Commission executive vice president Margrethe Vestager talks to media in Brussels, Belgium. Thierry Monasse | Getty Images News | Getty Images LONDON — China and the U.S. are taking more aggressive steps in regulating large tech firms, challenging the......

Ant Group to share consumer credit data with China’s central bank as regulatory overhaul continues

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CNBC – For more and to sign up click here GUANGZHOU, China — Ant Group will share credit data from its consumer lending business with China’s central bank as part of an overhaul of the fintech giant. Huabei is a consumer loan product under Ant Group. Data from that lending......

Op-ed: Will China’s President Xi’s big bet pay off?

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CNBC – For more and to sign up click here Chinese President Xi Jinping is making the most audacious geopolitical bet of the 21st century. A head-spinning series of seemingly disparate moves over recent months add up to nothing less than a generational wager that Xi can produce the world’s......

The iPhone 13 is already showing strong early sales in China, local media reports say

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CNBC – For more and to sign up click here iPhone 13 Source: Apple Inc. More Chinese consumers are rushing to order Apple‘s latest iPhone now than last year, according to a South China Morning Post report published Thursday. More than 2 million pre-orders have been placed for the iPhone......

Hong Kong start-up Prenetics to list in the U.S. through $1.7 billion SPAC deal

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CNBC – For more and to sign up click here Hong Kong biotech company Prenetics is going public through a merger with Artisan Acquisition — a special purpose acquisition company, or SPAC — in a deal that will value the combined entity at $1.7 billion. Roy Liu | Bloomberg |......

Alibaba leads $300 million investment into Chinese autonomous driving start-up DeepRoute.ai

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CNBC – For more and to sign up click here A Deeproute.ai robotaxi on display. Deeproute.ai GUANGZHOU, China — Alibaba has led investments worth more than $300 million into Chinese autonomous driving start-up DeepRoute.ai. The Shenzhen-based start-up makes the self-driving systems for vehicles that involve hardware and software. DeepRoute.ai runs......

How Amazon’s cloud business generates billions in profit

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CNBC – For more and to sign up click here Adam Selipsky, CEO, Tableau Software Scott Mlyn | CNBC Every year since at least 2014, more than half of Amazon’s operating profit has come from the online retailer’s cloud division, Amazon Web Services, which provides online services and tools that......

China’s tech giants pour billions into Xi’s vision of ‘common prosperity’

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CNBC – For more and to sign up click here The front of Alibaba’s Wangjing office in Beijing on Dec. 24, 2020. Costfoto | Barcroft Media | Getty Images GUANGZHOU, China — Alibaba will invest 100 billion yuan ($15.5 billion) over the next few years into “common prosperity” initiatives, joining......

The latest target of China’s tech regulation blitz: algorithms

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CNBC – For more and to sign up click here Computer code is seen on a screen above a Chinese flag in this July 12, 2017 illustration photo. Thomas White | Reuters BEIJING — Chinese authorities are planning to restrict how companies use algorithms to sell products to consumers, a......

Chinese A.I. firm SenseTime files for Hong Kong IPO despite tech crackdown and U.S. blacklist

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CNBC – For more and to sign up click here SenseTime, a Chinese artificial intelligence company, has filed to go public in Hong Kong. The move comes as China continues to tighten regulation on the country’s technology giants. Pavlo Gonchar | SOPA Images | LightRocket | Getty Images GUANGZHOU, China......

China’s regulatory crackdown has wiped billions off tech stocks — here are the risks ahead

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CNBC – For more and to sign up click here Five-starred red flags line the Nanjing Road pedestrian street in Shanghai, China, on June 22, 2021. This year marks the 100th anniversary of the Communist Party of China. Costfoto | Barcroft Media | Getty Images GUANGZHOU, China — Chinese authorities......

China reportedly weighs ban on U.S. IPOs from domestic tech companies with sensitive data

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CNBC – For more and to sign up click here Investors watch an electric screen displaying stock price figures at a stock exchange hall on February 18, 2021 in Shanghai, China. VCG | Visual China Group | Getty Images Beijing is eyeing new rules that would restrict domestic internet companies......

Ray Dalio is wrong about China’s tech crackdown, economist says

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CNBC – For more and to sign up click here China expert George Magnus disagrees with Bridgewater Associates’ Ray Dalio on Beijing’s tech crackdown. In a LinkedIn post this month, Dalio said investors were misconstruing a clampdown by China on sectors including fintech, online tutoring and food delivery as “anti-capitalist.”......

Stocks making the biggest moves midday: Best Buy, Palo Alto Networks, JD.com and more

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CNBC – For more and to sign up click here Employees bring a television to Steve Steward’s car at a Best Buy store on Black Friday, traditionally one of the busiest shopping days of the year. Crowds are smaller this year due to the increasing popularity of on-line shopping amid......

Chinese tech stocks rally as JD.com and Alibaba surge nearly 9%

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CNBC – For more and to sign up click here GUANGZHOU, China — Chinese tech stocks staged a huge rally Tuesday as investors got a little more clarity on the regulatory outlook and bought some of the names that have taken a beating in recent months. A positive set of......

Hard lesson for U.S. investors: Chinese companies don’t make the rules in China

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CNBC – For more and to sign up click here Beijing office towers, including Alibaba’s, are illuminated with Chinese characters reading ‘blessing to China’ to celebrate National Day in October 2020. Zang Zhihao | Visual China Group | Getty Images BEIJING — American investors’ shock at an ongoing regulatory crackdown......

China’s Baidu launches second chip and a ‘robocar’ as it sets up future in AI and autonomous driving

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CNBC – For more and to sign up click here Robin Li (R), CEO of Baidu, sits in the Chinese tech giant’s new prototype “robocar”, an autonomous vehicle, at the company’s annual Baidu World conference on Wednesday, August 18, 2021. Baidu GUANGZHOU, China — Chinese internet giant Baidu unveiled its......

TSMC overtakes Tencent to become Asia’s most valuable company, as China crackdown takes a toll

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CNBC – For more and to sign up click here A man walks past TSMC’s logo at the company’s headquarters in Hsinchu, Taiwan. TSMC is the world’s largest semiconductor foundry. Sam Yeh | AFP | Getty Images The world’s largest chipmaker Taiwan Semiconductor Manufacturing Company (TSMC) has overtaken Chinese tech......

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