By Tom Wilson and Angus Berwick LONDON (Reuters) -Binance founder Changpeng Zhao could never be accused of thinking small. Even back in 2017, the year he launched the business in China, he had towering ambitions: “We want to take over the entire market!” he told staff in a company chat group. The 46-year-old CEO didn’t …
SHANGHAI (Reuters) – Chinese electric vehicle (EV) maker Nio Inc began trial operation on Tuesday of faster, more efficient battery swapping stations in China in its push to make battery swapping a viable alternative to rival EV makers’ rapid-charging technology. With capacity to store up to 21 battery packs each, Nio’s Power Swap Station 3.0 …
China’s Nio opens trial for high-speed EV battery swapping stations Read More »
TOKYO (Reuters) – Japan’s antitrust watchdog said on Tuesday it did not expect a merger between Microsoft Corp and Activision Blizzard to stifle competition, helping clear the way for the Xbox maker’s $69 billion acquisition of the “Call of Duty” creator. The Japan Fair Trade Commission has notified the companies that it will not issue …
Microsoft’s Activision deal will not harm competition -Japan watchdog Read More »
BEIJING (Reuters) – China plans to improve its blockchain tech standards by 2025, the Ministry of Industry and Information Technology (MIIT), the country’s industry watchdog, said on Tuesday. The country will aim to clarify the top-level design of its blockchain and distributed ledger technology standards system by 2023, before further improving the standards system by …
China plans to improve national blockchain tech standards system by 2025 Read More »
By Rachel Savage JOHANNESBURG (Reuters) -China spent $240 billion bailing out 22 developing countries between 2008 and 2021, with the amount soaring in recent years as more have struggled to repay loans spent building “Belt and Road” infrastructure, a study published on Tuesday showed. Almost 80% of the lending was made between 2016 and 2021, …
China spent $240 billion bailing out ‘Belt and Road’ countries – study Read More »
By Hyunsu Yim SEOUL (Reuters) -South Korean social media giant Kakao’s stake in K-pop agency SM Entertainment has reached 40%, the target said on Tuesday, in a deal that has left former bidder HYBE stuck with more than half of its stake in SM. HYBE, the manager of hit boy band BTS, had hoped to …
Kakao’s stake in K-pop agency SM climbs to 40%, HYBE retains 8.8% Read More »
By Katya Golubkova and Yuka Obayashi TOKYO (Reuters) – Several Japanese power utilities will miss out on rate hikes they asked to start on April 1 after the government delayed the approval process of their requests, leaving them with potential revenue shortfalls amid higher energy prices. Japan’s government is taking time to approve the requests …
Missed rate hikes to stick Japanese utilities with revenue shortfall Read More »
By Selena Li HONG KONG (Reuters) – Allianz Global Investors (AllianzGI) has become the latest foreign asset manager to seek Beijing’s approval to expand in the world’s second-largest economy. AllianzGI filed its application Friday last week to enter China’s $3.95 trillion fund management market, according to a filing with the China Securities Regulatory Commission which …
Allianz applies to set up new fund management unit in China Read More »
TOKYO (Reuters) – The chairman of Japan’s Fujitec Co Ltd said on Tuesday he would file a defamation lawsuit next month against Oasis Management, the elevator maker’s top shareholder, raising tensions in a high profile battle with the activist investor. The move comes a month after Oasis, a Hong Kong-based hedge fund with a 17% …
Fujitec chairman says activist shareholder Oasis defamed him Read More »
BEIJING (Reuters) -China’s cyberspace regulator vowed on Tuesday to clamp down on malicious online comments that damage the reputation of businesses and entrepreneurs, amid an official drive to shore up the private sector and spur economic growth. “False information against enterprises and entrepreneurs, especially private enterprises and private entrepreneurs, appear from time to time, damaging …
China to crack down on malicious online comments damaging reputation of businesses Read More »
