Tag Archives: backer

Tencent Leads China Tech Losses as Major Backer Plans to Cut Its Stake

Tencent Leads China Tech Losses as Major Backer Plans to Cut Its Stake

(Bloomberg) — Chinese technology stocks fell as a plan by Tencent Holdings Ltd.’s major backer to further cut its stake in the company fueled concerns more investors may look to take profits following a strong rally. Most Read from Bloomberg The Hang Seng Tech Index slid as much as 2.9% Tuesday, the most since June 22, before paring some losses. Tencent slumped as much as 5.8%, the most in nearly six weeks, after Prosus NV on Monday said it intends to sell more of the mobile gaming… Source link

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Tencent Backer Prosus to Cut $134 Billion Stake to Buy Stock

Tencent Backer Prosus to Cut $134 Billion Stake to Buy Stock

(Bloomberg) — Prosus NV is planning to sell more of its $134 billion stake in Chinese internet giant Tencent Holdings Ltd. to finance a buyback program, reversing a pledge to hold onto the full shareholding. Most Read from Bloomberg Tencent declined in Hong Kong on Monday as investors pondered the extent to which Prosus, the Chinese company’s biggest shareholder, will unload its stock. The shares fell as much as 2.5% and traded 1.6% lower at the close. “We will keep selling Tencent shares… Source link

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Robot Delivery Upstart Nuro’s New $600 Million Round Draws An Unexpected Backer: Google

Nuro’s R2 delivery vehicles haul only groceries, packages and food, rather than people. Nuro Nuro, a developer of autonomous driving technology backed by two former Google engineers, hauled in an additional $600 million to speed up efforts to commercialize its robotic delivery services from past investors including SoftBank and Toyota’s Woven Capital and a surprising new one: Google. The Series D round was led by Tiger Global Management and includes funds from Baillie… Source link

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Dogecoin in spotlight as cryptocurrency backer Musk makes ‘SNL’ appearance

By Alden Bentley and Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – With the price of dogecoin surging, investors are looking ahead to Elon Musk’s guest-host spot on this weekend’s “Saturday Night Live” comedy sketch TV show after the billionaire’s tweets this year turned the once-obscure digital currency into a speculator’s dream. The Tesla Inc chief executive will host the show at 11:30 p.m. EDT on Saturday (0330 GMT on Sunday). The timing puts Musk, who is also known as an enthusiast of… Source link

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