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October 22, 2021

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Japan e-commerce giant Rakuten to list online bank

Reuters
The logo of Rakuten is pictured at the headquarters of Rakuten in Tokyo, Japan, May 15, 2019. REUTERS/Sam Nussey/File Photo TOKYO, Sept 30 (Reuters) – Japanese e-commerce firm Rakuten Group Inc (4755.T) said on Thursday it is preparing to list its online banking unit, raising funds as it soaks up......

Pandemic pushes Chinese tech giants to roll out more courier robots

Reuters
Alibaba, Meituan, JD.com to operate over 2,000 robots by 2022 Executives said encouraged by falling costs, pandemic Robot deliveries are safer, but less efficient -consumers BEIJING, Sept 28 (Reuters) – More than a thousand robots are set to join the delivery personnel ranks of Chinese behemoths Alibaba (9988.HK), Meituan (3690.HK)......

China Evergrande shares dive to 11-year low as default risks grow

Reuters
HONG KONG, Sept 20 (Reuters) – China Evergrande Group (3333.HK) shares plunged on Monday to over 11-year lows, extending losses as executives try to salvage its business prospects and as default fears grow over a looming deadline for payment obligations this week. Evergrande has been scrambling to raise funds to......

EXCLUSIVE Teamsters organizing workers’ unions at 9 Amazon.com facilities in Canada

Reuters
Sept 17 (Reuters) – The Teamsters workers’ union has launched campaigns to organize employees in at least nine Canadian facilities of U.S. e-commerce company Amazon.com (AMZN.O), according to Reuters interviews with union officials. The influential union took the first step earlier this week to organize employees at one of Amazon’s......

Banks beware, outsiders are cracking the code for finance

Reuters
Embedded finance investment jumps in 2021, data shows Buy now pay later deals take centre stage Fintech market valuations leapfrog banks LONDON, Sept 17 (Reuters) – Anyone can be a banker these days, you just need the right code. Global brands from Mercedes and Amazon (AMZN.O) to IKEA and Walmart......

‘Amazon won’t change without a union’: Canadian warehouse files for union vote

Reuters
The logo of Amazon is seen at the company logistics centre in Boves, France, August 8, 2018. REUTERS/Pascal Rossignol/File Photo Sept 14 (Reuters) – Workers at one of Amazon.com Inc’s (AMZN.O) Canadian facilities have filed a request with a local labor board to hold a vote to form a union,......

JD.com says founder Liu to step away from day-to-day operations

Reuters
SHANGHAI, Sept 6 (Reuters) – China’s JD.com (9618.HK) said on Monday founder and chief executive Richard Liu will switch his focus to the e-commerce giant’s long-term strategy, creating the new role of president to run the company’s day-to-day operations. The move comes as several other founders of China’s tech companies......

Beijing city looks to take Didi under state control, Bloomberg News reports

Reuters
Sept 3 (Reuters) – Beijing city is considering taking Didi Global (DIDI.N) under state control and has proposed that government-run firms invest in the Chinese ride-hailing company, Bloomberg News reported. The central thrust of the city government’s proposal is to regain control over one of its largest corporations, and particularly......

Chinese regulators raise concerns with ride-hailing firms

Reuters
BEIJING, Sept 2 (Reuters) – Chinese regulators summoned 11 ride-hailing firms including Didi Global Inc (DIDI.N), Geely’s (GEELY.UL) Caocao and Meituan’s (3690.HK) ride-hailing unit to a meeting, the transport ministry said on Thursday, to discuss points of concern in the sector. At the meeting held on Wednesday, authorities highlighted the......

China radio, TV body to strengthen regulation on cultural programmes, salaries

Reuters
BEIJING, Sept 2 (Reuters) – China’s National Radio and Television Administration said in an online notice on Thursday that it will strengthen regulation over cultural programmes, cracking down on what it deems unhealthy content as well as stars’ salaries and tax evasion. Actors and guests should be encouraged to participate......

Young Chinese gamers vent at Beijing’s new rules as shares in gaming companies slide

Reuters
Aug 31 (Reuters) – China’s new rules forbidding under-18s from playing video games for more than three hours a week knocked shares in Tencent Holdings Ltd (0700.HK) and other gaming companies, while young players took to social media to express their outrage. Beijing said the new rules were necessary to......

Alibaba fires 10 for leaking sexual assault accusations – Bloomberg News

Reuters
The logo of Alibaba Group is seen at its office in Beijing, China January 5, 2021. REUTERS/Thomas Peter Aug 30 (Reuters) – Alibaba Group Holding Ltd (9988.HK) dismissed 10 employees for publicizing a female colleague’s account of sexual assault allegations against a former manager, Bloomberg News reported on Monday, citing......

Australia considering new laws for Apple, Google, WeChat digital wallets

Reuters
A smartphone with the Apple Pay logo is placed on a displayed Google Pay logo in this illustration taken on July 14, 2021. REUTERS/Dado Ruvic/Illustration SYDNEY, Aug 30 (Reuters) – The Australian government is considering new laws that would tighten the regulation of digital payment services by tech giants such......

China’s JD.com adds record new users in Q2 amid regulatory tightening

Reuters
SHANGHAI, Aug 23 (Reuters) – Chinese e-commerce giant JD.com Inc on Monday told investors it does not expect any business impact from a wave of regulations hitting Chinese industry, after beating analysts’ expectations for the quarter through June. The company’s Hong Kong-listed shares jumped nearly 10% in morning trade on......

For bank regulators, tech giants are now too big to fail

Reuters
Britain, France, United States and EU scrutinising sector Bank cloud tech spending to surge to $85bn by 2025 – IDC Bank regulators want more oversight of cloud risks LONDON, Aug 20 (Reuters) – More than a decade on from the financial crisis, regulators are spooked once again that some companies......

China rebukes 43 apps including Tencent’s WeChat for breaking data transfer rules

Reuters
SHANGHAI, Aug 18 (Reuters) – China’s Ministry of Industry and Information Technology (MIIT) said on Wednesday that 43 apps, including Tencent Holdings Ltd’s (0700.HK) WeChat, were found to have illegally transferred user data, and ordered their parent companies to make rectifications. The move comes as Chinese authorities tighten regulatory oversight......

China steps up tech scrutiny with rules over unfair competition, critical data

Reuters
A map of China is seen through a magnifying glass on a computer screen showing binary digits in Singapore in this January 2, 2014 photo illustration. Picture taken January 2, 2014. REUTERS/Edgar Su/File Photo Shares of internet platforms fall after draft rules from SAMR China has been tackling anti-competitive behaviour,......

How Sweden became the Silicon Valley of Europe

Reuters
STOCKHOLM, Aug 11 (Reuters) – As Klarna’s billionaire founder Sebastian Siemiatkowski prepares to stage one of the biggest-ever European fintech company listings, a feast of capitalism, he credits an unlikely backer for his runaway success: the Swedish welfare state. In particular, the 39-year-old pinpoints a late-1990s government policy to put......

Poshmark warns of marketing hit from Apple’s ad tracking changes

Reuters
A screen displays the company logo for Poshmark Inc. during the company’s IPO at the Nasdaq Market Site in Times Square in New York City, U.S., January 14, 2021. REUTERS/Brendan McDermid Aug 10 (Reuters) – Second-hand retailer Poshmark Inc (POSH.O) on Tuesday forecast third-quarter revenue largely below estimates and warned......

SoftBank’s Vision Fund posts $2 bln profit, share weakness casts shadow

Reuters
Didi, Full Truck Alliance listed during Q1 China regulatory action has hit valuations SoftBank to wait and see on China -Son China remains compelling opportunity -executive Further upside from India investments listing -executive TOKYO, Aug 10 (Reuters) – SoftBank Group Corp’s (9984.T) Vision Fund unit posted on Tuesday a first-quarter......

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