Google may soon be facing its second antitrust lawsuit filed by the US Department of Justice. According to Bloomberg, the DOJ is gearing up to sue the tech giant as soon as September after a year of looking into whether it’s been using its dominant position to illegally control the digital ad market. The Justice… Continue reading US Justice Department is reportedly poised to sue Google over its digital ad dominance
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Taiwan security officials want Foxconn to unwind $800m deal with Chinese chipmaker: reportFoxconn holds a stake in Tsinghua Unigroup via a $798m inves…
Taiwan’s national security officials want to persuade Apple Inc’s supplier Foxconn to unwind an $800 million investment in Chinese chipmaker Tsinghua Unigroup, the Financial Times reported on Wednesday. The deal will definitely not go through, the report said, citing a senior Taiwanese government official involved in national security issues. Taiwan, the world’s largest contract electronics maker, has… Continue reading Taiwan security officials want Foxconn to unwind $800m deal with Chinese chipmaker: reportFoxconn holds a stake in Tsinghua Unigroup via a $798m inves…
China real estate property crisis casts shadow over property management units
China‘s real estate crisis is casting a darkening cloud over governance and financial prospects of once highly valued property management companies, triggering a rout in their shares and making investors cautious. Already battered share prices have fallen a further 7% this month as investors have reacted to the latest instances of such companies lending support to cash-strapped developer parents. “The capital market has… Continue reading China real estate property crisis casts shadow over property management units
Franklin Templeton exits Vietnam-based Indo Trans Logistics
US-based investment firm Franklin Templeton has offloaded its entire stake in Vietnamese logistics company Indo Trans Logistics Corporation (ITL) to Japan’s Mitsubishi Logistics Corporation, according to a statement by Franklin Templeton’s exclusive advisor, BDA Partners. In a separate announcement, Mitsubishi Logistics said it has acquired a 13.63% interest in ITL. Franklin Templeton had earlier invested $15.8… Continue reading Franklin Templeton exits Vietnam-based Indo Trans Logistics
Geely-backed investment firm GLy secures $163m final close of debut PE fund
GLy Capital Management, a Hong Kong-based investment manager in the mobility sector, announced on Wednesday the final closing of its maiden private equity (PE) fund — the New Mobility Fund, which raised $163 million in capital commitments. The New Mobility Fund, which counts Chinese automaker Zhejiang Geely Holding Group and South Korea’s SK Inc as… Continue reading Geely-backed investment firm GLy secures $163m final close of debut PE fund
Musk sells Tesla shares worth $6.9b to save up for forced Twitter deal
Tesla Inc Chief Executive Officer Elon Musk sold $6.9 billion worth of shares in the electric vehicle maker, saying the funds could be used to finance a potential Twitter deal if he loses a legal battle with the social media platform. “In the (hopefully unlikely) event that Twitter forces this deal to close *and* some… Continue reading Musk sells Tesla shares worth $6.9b to save up for forced Twitter deal
Elon Musk sells massive $6.5 billion chunk of Tesla (TSLA) stake
Tesla has disclosed that CEO Elon Musk sold around $6.5 billion worth of Tesla (TSLA) shares last week. It’s a significant chunk of his Tesla stake, but the reason behind the sale is unknown as of now. A Twitter settlement maybe? Update: Musk has commented on the sale, and we have added those comments to… Continue reading Elon Musk sells massive $6.5 billion chunk of Tesla (TSLA) stake
How two Silicon Valley entrepreneurs’ plan to build a VR startup in China implodedThe business racked up losses and struggled to comply with regulator…
In late 2014, Silicon Valley-based entrepreneurs Sun Jing and Xu Bing welcomed a government delegation from East China’s Zhejiang province that was visiting the US tech hub to look for overseas talent. Xu had moved to the US to study and built up his career in the tech industry, and Sun had been engaged in… Continue reading How two Silicon Valley entrepreneurs’ plan to build a VR startup in China implodedThe business racked up losses and struggled to comply with regulator…
Dreaded ‘down rounds’ shave billions off startup valuations
Several high-flying startups are being brought down to earth, as a recent carnage in global equity markets and lacklustre demand for new listings force companies to raise funds at a substantial discount to their sky-high valuations. Easy money from venture capital dealmaking is fast evaporating in an inflation-induced high interest-rate environment as many private investors… Continue reading Dreaded ‘down rounds’ shave billions off startup valuations
South Korea to probe app store operators over suspected in-app payment violations
South Korea‘s telecommunications regulator said on Tuesday it plans to launch an investigation into app store operators such as Apple Inc, Alphabet’s Google and One Store over suspected violations of in-app payment law. Potential fines for infractions could be as high as 2% of the average annual revenue from related business practices, the law says. The… Continue reading South Korea to probe app store operators over suspected in-app payment violations