Investors are worried a new level of regulation could be coming for the hard-hit technology sector in China.
Jay Jacobs, SVP and Head of Research & Strategy at Global X ETFs, joined Yahoo Finance to discuss Square’s acquisition of Afterpay.
Tencent Holdings on Tuesday said it would introduce new measures to reduce minors' access to and time spent on its "Honor of Kings" game, a move it plans to eventually roll out to its full games line-up. Players under the age of 12 will be prohibited from spending money in the game, and time restrictions on minors will also be tightened from 1.5 hours to 1 hour on non-holidays, and from 3 hours to 2 hours on holidays, Tencent said in a statement posted on one of its official WeChat accounts. The announcement came shortly after Tencent and "Honor of Kings" were criticized in a Chinese state media article that described online gaming as "spiritual opium" and sent the company's shares tumbling.
(Bloomberg) -- Tencent Holdings Ltd. dived as much as 11% Tuesday after an offshoot of China’s official news agency decried the “spiritual opium” and “electronic drugs” of games, prompting the country’s largest corporation to declare the possibility of banning kids under the age of 12 from playing altogether.The twin developments stoked fears Beijing will next set its sights on online entertainment after reining in the e-commerce, ride-hailing and online education industries. Tencent joined riva
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Aug.02 -- Tencent Holdings Ltd. shares are down 10%, the biggest drop 10 years as nervous investors continue to reevaluate their holdings in the wake of Beijing’s broad crackdown on Chinese internet giants. Bloomberg’s Peter Elstrom reports on “Bloomberg Markets: Asia.”
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SHANGHAI (Reuters) -China's Tencent Holdings Ltd said on Tuesday it would curb minors' access to its flagship video game, hours after its shares were battered by a state media article that described online games as "spiritual opium." Economic Information Daily cited Tencent's "Honor of Kings" in an article in which it said minors were addicted to online games and called for more curbs on the industry. The outlet is affiliated with China's biggest state-run news agency, Xinhua.
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A U.S. labor board official has recommended a rerun of a landmark Amazon.com Inc union election in Alabama where employees had voted overwhelmingly against making their warehouse the online retailer's first to organize in the United States. The Retail, Wholesale and Department Store Union (RWDSU), which workers rejected joining earlier this year by a more than 2-1 margin, had said Amazon illegally threatened staff with reduced benefits and compromised the election's integrity via a ballot collection box it secured outside the warehouse. The labor official's recommendation in support of a new election focused on problems with the collection box, a person familiar with the matter said.
JD.com, China's largest retailer and the parent company of JD CENTRAL, ranked 59th on the Fortune Global 500 list released on August 2. Up by 43 places comparing with last year, JD.com has made the list for the 6th consecutive year, as the largest "retail and internet service" company in China and the third largest internet company globally.
A federal official from the National Labor Relations Board is recommending holding a new vote and nullifying the results from a closely watched contest in which Amazon.com Inc. warehouse workers in Alabama cast ballots overwhelmingly against unionizing, according to the union in the case.
Option activity after earnings suggests that traders are pessimistic about Apple's (AAPL) share price after it beat analysts' predictions.
National Labor Relations Board hearing officer recommends setting aside results of warehouse union vote in Bessemer, Alabama.