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October 22, 2021

Didi Global Inc

As China cracks down, foreign companies try to figure out where they fit in

CNBC
by CNBC028
CNBC – For more and to sign up click here Visitors walk on the Bund in Shanghai, China, on Friday, February 12, 2021. Qilai Shen | Bloomberg | Getty Images BEIJING — Foreign companies are trying to hold on to lucrative opportunities in China, even if new regulations and the......
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China and the U.S. are challenging Europe’s role as top tech regulator

CNBC
by CNBC022
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......
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Steer clear of ‘high-risk’ IPO space as roughly half of 2021’s debuts trade below offering price, trader says

CNBC
by CNBC026
CNBC – For more and to sign up click here Steer clear of newly public stocks, one trader warns. Market conditions are turning less favorable for initial public offerings after a record 2020, Chantico Global founder and CEO Gina Sanchez told CNBC’s “Trading Nation” on Wednesday. Roughly half of 2021’s......
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Alibaba leads $300 million investment into Chinese autonomous driving start-up DeepRoute.ai

CNBC
by CNBC026
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......
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Stocks making the biggest moves midday: Didi Global, Nvidia, PagerDuty and more

CNBC
by CNBC029
CNBC – For more and to sign up click here Visitors crowd around the Nvidia booth at the 2016 China Digital Entertainment Expo, known as ChinaJoy, in Shanghai. STR | AFP | Getty Images Check out the companies making headlines in midday trading. Didi Global — Shares of the Chinese......
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Didi jumps nearly 10% this week amid report of Chinese government taking it over

CNBC
by CNBC04
CNBC – For more and to sign up click here Budrul Chukrut | LightRocket | Getty Images Shares of Didi posted near double-digit gains this week amid a Bloomberg News report that Beijing is eyeing a plan to take the troubled ride-hailing giant under state control by acquiring a stake......
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Chinese stocks are too risky right now – buy its bonds instead, J.P. Morgan’s Joyce Chang suggests

CNBC
by CNBC07
CNBC – For more and to sign up click here A major investment bank is avoiding Chinese stocks, but buying its bonds. J.P. Morgan’s Joyce Chang believes the country’s regulation crackdown is heating up and will create downward pressure on major market groups and industries. “We really recommended [investors] to......
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Chinese regulators summon 11 ride-hailing firms, including Didi, over ‘illegal behavior’

CNBC
by CNBC098
CNBC – For more and to sign up click here Budrul Chukrut | LightRocket | Getty Images GUANGZHOU, China — Chinese regulators have summoned and interviewed 11 ride-hailing firms asking them to rectify non-compliant behavior. The Ministry of Transport, along with a number of other regulators including the Cyberspace Administration......
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China’s regulatory crackdown has wiped billions off tech stocks — here are the risks ahead

CNBC
by CNBC031
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......
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China reportedly weighs ban on U.S. IPOs from domestic tech companies with sensitive data

CNBC
by CNBC08
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......
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Chinese baijiu liquor stocks tumble amid regulatory concerns

CNBC
by CNBC067
CNBC – For more and to sign up click here Signage for China Kweichow Moutai Distillery Co. baijiu liquor lines a road at the company’s facility in the Maotai section of the Renhuai District in Zunyi, Guizhou Province, China, on Thursday, April 7, 2011. Nelson Ching | Bloomberg | Getty......
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Ray Dalio is wrong about China’s tech crackdown, economist says

CNBC
by CNBC076
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.”......
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Stocks making the biggest moves midday: Best Buy, Palo Alto Networks, JD.com and more

CNBC
by CNBC048
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......
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China’s cyberspace regulator lays out two main conditions for companies wanting to go public

CNBC
by CNBC060
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 companies wanting to go public — including overseas — must comply with two main aspects......
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Stocks making the biggest moves premarket: Boeing, Coinbase, Pfizer, BioNTech and more

CNBC
by CNBC023
CNBC – For more and to sign up click here Check out the companies making headlines before the bell: Boeing (BA) – Boeing added 1.2% in the premarket, following news that it planned to invest in a SPAC merger planned later this year by Richard Branson’s satellite launch company Virgin......
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China passes major data protection law as regulatory scrutiny on tech sector intensifies

CNBC
by CNBC0104
CNBC – For more and to sign up click here A Chinese mobile phone user in Shanghai. China has passed the Personal Information Protection Law (PIPL), which lays out for the first time a comprehensive set of rules around data collection. Qi Yang | Moment | Getty Images GUANGZHOU, China......
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Hard lesson for U.S. investors: Chinese companies don’t make the rules in China

CNBC
by CNBC0173
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......
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Stocks making the biggest moves in the premarket: Home Depot, Walmart, Roblox and more

CNBC
by CNBC049
CNBC – For more and to sign up click here Take a look at some of the biggest movers in the premarket: Home Depot (HD) – Shares of the home improvement retailer fell 3.2% in the premarket following its second-quarter results. Home Depot earned $4.53 per share, 9 cents a......
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China’s tech giants generate billions for investors — but small businesses are being squeezed

CNBC
by CNBC070
CNBC – For more and to sign up click here Delivery workers wait for the light to turn green at a major intersection in Beijing on July 30, 2021. Evelyn Cheng | CNBC BEIJING — Investors in Chinese companies were caught off guard this summer by Beijing’s actions against homegrown......
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Stocks making the biggest moves midday: Virgin Galactic, Robinhood, Yelp, Novavax & more

CNBC
by CNBC094
CNBC – For more and to sign up click here Billionaire entrepreneur Richard Branson prepares to spray champagne after flying with a crew in Virgin Galactic’s passenger rocket plane VSS Unity to the edge of space at Spaceport America near Truth or Consequences, New Mexico, U.S., July 11, 2021. Joe......
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