US, China tech giants under regulatory pressure, competition

Volkan Furuncu | Anadolu Agency | Getty Images Investors looking to put money into US and China internet giants should be cautious as these companies are facing a myriad of challenges, strategists told CNBC. Investment bank Macquarie said large consumer tech companies like Facebook and Amazon are in the “sunsetting” phase. “You have to be … Read more

Didi shares drop after Tencent said it did not buy new shares

Budrul Chukrut | LightRocket | Getty Images Shares of Chinese ride-hailing firm Didi fell in pre-market trade in the US Friday after Tencent clarified that it did not increase its stake in the company. A regulatory filing on Thursday appeared to show that Tencent added around 1.78 million Didi Class A Ordinary shares at the … Read more

Economists say the worst of China’s regulatory crackdown is over

Traders work during the IPO for Chinese ride-hailing company Didi Global Inc on the New York Stock Exchange (NYSE) floor in New York City, US, June 30, 2021. Brendan McDermid | Reuters BEIJING – The worst of China’s regulatory crackdown is over as Beijing shifts its focus to supporting growth, economists said. That does not … Read more