Chinese miners are struggling to sell their crypto in ways that would quickly get them much-needed cash in the face of a government crackdown on local exchanges. ( read original story …)
Tagged By business
Investor: Ant Group Could Still Have Record IPO, Despite Setbacks
Ant Group’s expected initial public offering of stock was scuttled, but the internet giant still has fans rooting for an IPO, which would be the world’s largest. ( read original story …)
China And Facebook Perfect Storm May Have Created Wall Street’s Worst Nightmare
The race toward bitcoin and cryptocurrency-inspired digital currencies, kick-started by Facebook and China, is moving up a gear—and Wall Street’s biggest banks are beginning to feel … ( read original story …)
Global Luxury Sales Are on Track for a Record Decline in 2020. But Business Is Booming in China.
The personal luxury goods market, which includes clothes and jewelry, is expected to contract this year for the first time since 2009. ( read original story …)
The unravelling of the Ant IPO
The IPO of Jack Ma’s Ant Group would have been the largest in history: it was expected to raise $37bn at a valuation of $316bn. But just days before the stock market listing, China called…
Business Roundtable Chief Urges Biden to Ease Trump’s Tariffs on China
The head of the influential trade group of the nation’s largest companies says the move could be part of a new round of trade negotiations between the U.S. and China. ( read original story …)
Tencent joins forces with ShareRing to launch blockchain digital ID platform
Tencent and ShareRing are building a new digital identification system to help the beleaguered tourism industry get back on its feet. ( read original story …)
Beijing is casting more doubt on Hong Kong’s future as a financial hub
The disqualification of four Hong Kong legislators and the suspension of Ant’s IPO point to a discomforting conclusion: the city’s role as a business hub with an independent legal system is now … ( read…
Bitcoin Ascends in New Crypto Ranking by State-Backed Chinese Institute
China’s Center for Information and Industry Development (CCID), under the country’s Ministry of Industry and Information Technology, has released its 20th ranking of crypto projects. ( read original story …)
Tencent’s cloud tech helps blockchain firm manage digital records to get people travelling again amid Covid-19
Blockchain company ShareRing will use Tencent cloud services for digital identification and travel documents to help tourism-reliant countries in Southeast Asia open their borders again. ( read original story …)
China Sees Little Fallout From Ant IPO Suspension
Fang Xinghai, vice chairman of the China Securities Regulatory Commission, says international investors have responded “quite well” to the suspension of Ant Group Co.’s initial public offering. He … ( read original story …)
Crypto exchange crackdown, bond on hold: Blockheads
The crypto exchange crackdown continues, miners can’t pay for electricity, and a $3 billion blockchain-based bond is paused. ( read original story …)
Baidu Paying $3.6 Billion for JOYY’s China Live-Streaming Business
Baidu, China Internet search and AI giant, has agreed to pay $3.6 billion in cash for the Chinese live-streaming business of JOYY. The deal may help Baidu catch up in the fast-growing live and ……
