Tag Archives: billion

(Bloomberg) — Tencent Holdings Ltd. and Netease Inc. shed more than $60 billion of value as investor fears grow that Chinese regulators are preparing to tighten their grip dramatically on the world’s largest gaming industry. Chinese regulators summoned industry executives to a Wednesday meeting to instruct them to break their “solitary focus” on profit and prevent minors from becoming addicted to games, according to the official Xinhua News Agency. Regulators also said there will be a… Source link

(Bloomberg) — Sea Ltd. aims to raise $6.3 billion in the largest equity offering of the year, a deal that will propel a global expansion and acquisitions for Southeast Asia’s largest company. The online gaming and e-commerce firm backed by Tencent Holdings Ltd. is offering 11 million shares, a stake worth about $3.8 billion at Wednesday’s close. It also intends to issue $2.5 billion of equity-linked debt. Sea, which has risen more than 70% this year, fell in post-marketing trading in New… Source link

By Dhirendra Tripathi Investing.com – Nio ADRs (NYSE:NIO) traded 3% weaker in Wednesday’s premarket in response to the Chinese electric vehicle maker’s plans to sell up to $2 billion in new American depositary shares to fund its expansion. The deal will represent an increase of around 3% in the company’s share count. Each ADS, each representing one Class A ordinary share of the company, will be issued through an at-the-market offering program. The ADSs will be offered through Credit Suisse… Source link

With the White House aiming for a Sept. 20 start date for COVID-19 booster shots for adults in the U.S., the countdown has begun for the U.S. Food and Drug Administration (FDA) to review booster data from vaccine companies.  Moderna (MRNA), meanwhile, is focused on halving its booster shot, from the current 100 microgram dose. The company submitted to the FDA an initial round of data to support the half dose this week. According to Moderna officials, the lower dosage has production benefits… Source link

Google Chrome has well over two billion users worldwide and it not only dominates the web browser market, its Chromium core runs numerous browser alternatives. All of which makes Chrome the number one target for hackers and now Google has issued its fifth urgent upgrade warning in two months.  Google has warned users about five new ‘High’ security risks in Chrome LightRocket via Getty Images MORE FROM FORBESGoogle Reveals 7 ‘High’ Level Security Flaws In… Source link

The restructuring of the MLU ride-hailing and car sharing joint venture, which includes Yandex.Taxi, will see Yandex own 71% while Uber’s stake falls to 29% from 33.5%, Yandex said, adding it had taken out a $2 billion call option to buy out the rest if it chooses to do so. By Anna Rzhevkina and Gleb Stolyarov MOSCOW: Russian internet giant Yandex said on Tuesday it would buy Uber’s stakes in their joint foodtech, delivery and self-driving businesses, and increase its stake in their… Source link

MOSCOW (Reuters) -Russian internet giant Yandex said on Tuesday it would buy Uber’s stakes in their joint foodtech, delivery and self-driving businesses, and increase its stake in a mobility-focused joint venture as part of a $1 billion deal. The company added that it had received a call option to purchase Uber’s remaining stake in mobility businesses for up to $2 billion. The restructured joint venture MLU will continue to focus on mobility businesses, including ride-hailing and car… Source link

The Education Department (ED) is discharging $1.1 billion for 115,000 defrauded former students of the for-profit ITT Technical Institute (ITT) after a new review of existing regulations. ITT Technical Institute filed for bankruptcy in 2016 and shut down all campuses, affecting 149 locations and roughly 40,000 students, amid lawsuits and investigations over alleged predatory lending practices. “For years, ITT hid its true financial state from borrowers while luring many of them into taking… Source link

By Nate Raymond and Tom Hals (Reuters) -At least six U.S. states, including Georgia, did not fully sign on to a proposed $26 billion settlement with three drug distributors and Johnson & Johnson, which have been accused of fueling the nation’s opioid epidemic, according to the states’ attorneys general. States had until Saturday to decide whether to support the $21 billion proposed settlement… Source link

Google Chrome has over two billion users worldwide and dominates the web browser market. But this also makes it the prime target of hackers and now Google has issued its fourth urgent upgrade warning in two months.  Google has warned users about seven new ‘High’ security risks in Chrome LightRocket via Getty Images MORE FROM FORBESGoogle Issues New Chrome Update Warning Following Eighth ‘Zero Day’ Hack In 2021By Gordon Kelly In an official blog post, Google has revealed seven… Source link