Tag Archives: crackdown

Starting next week, users of Barnes & Noble’s Android app will no longer be able to buy digital books in the app, and it seems to be due to a Google Play policy deadline that’s been more than a year and a half in the works. And it’s not just Barnes & Noble that’s affected; you aren’t able to buy Amazon’s Audible titles with a debit or credit card in the latest version of its Android app, either. The changes appear to stem from Google’s insistence that apps use Google Play’s… Source link

(Bloomberg) — Alibaba Group Holding Ltd. ramped up its share buyback program to $25 billion, expanding that arsenal for a second time in less than a year to stanch a $470 billion loss of value during Beijing’s internet crackdown. Most Read from Bloomberg The board of China’s e-commerce leader has approved the program, which will run for two years through to March 2024, the company said in a statement. It also appointed a new independent director in Shan Weijian, chairman of alternative… Source link

Within hours, an app designed to help Russians register protest votes against Putin could no longer be downloaded from Google or Apple, whose main representative in Moscow faced a similarly harrowing sequence. Titans of American technology had been brought to their knees by some of the most primitive intimidation tactics in the Kremlin playbook. Story continues below advertisement The unnerving encounters, which have not previously been disclosed, were part of a broader campaign that Putin… Source link

(Bloomberg) — Chinese technology stocks dropped for a third straight session amid fresh worries over Beijing’s regulatory plans for the sector. Most Read from Bloomberg The Hang Seng Tech Index fell more than 3% on Tuesday and headed for the lowest close since its inception in 2020. Alibaba Group Holding Ltd. led declines following a Bloomberg report that authorities have begun another round of checks on its fintech business arm. The rout weighed on the broader Hong Kong market, with the… Source link

by Jing Xuan Teng US internet services company Yahoo said on Tuesday it has pulled out of mainland China, becoming the latest tech firm to withdraw as a crackdown by Beijing on the industry gathers pace. The move comes just days after American gaming giant Epic said it will shut its popular game “Fortnite” following the imposition of strict curbs on the world’s biggest gaming market. Yahoo. Photo: Pixabay. Beijing has embarked on a wide-ranging regulatory clampdown on a… Source link

Snap’s (SNAP) stock was down more than 23% in early trading Friday morning after its earnings report sharply missed revenue expectations the day before. Why the big miss? CEO Evan Spiegel said Apple’s (AAPL) recent privacy changes to iOS hampered advertisers’ efforts to track their campaigns. “Our advertising business was disrupted by changes to iOS ad tracking that were broadly rolled out by Apple in June and July,” Spiegel said during the company’s earnings call. “We have… Source link

The U.S. now leads the world in Bitcoin mining, according to data from the Cambridge Bitcoin Electricity Consumption Index (CBECI), which tracks Bitcoin’s energy consumption by geography. According to data added to the index, the United States currently makes up 42.7% of the Bitcoin network’s “hashrate,” a metric unit that measures how much power the Bitcoin network consumes. Up 14%, the growth in America’s hashrate — also known as hashpower — reflects the changing geopolitical… Source link

Beijing’s latest moves to crackdown on various sectors in the Chinese economy is spooking some investors, and one short seller believes that this is simply the start. “I know the bulls wanted to say: ‘It’s just going to be the education stocks,’ and then it was the crackdown on gaming,” short seller Dan David told Yahoo Finance Live (video above).  In the last few months, the Chinese government under President Xi Jinping has started tightening regulations across various sectors such as… Source link

The U.S. Securities and Exchange Commission (SEC) signaled a big change in policing cryptocurrencies last week, as one of the largest crypto exchanges in the world revealed it was blocked from launching a new crypto lending product. As Coinbase CEO Brian Armstrong explained, the SEC took issue with the company’s plans to pay interest to customers so they could earn up to 4% on their crypto assets. The particular crypto asset Coinbase was preparing to offer 4% on was the least volatile asset… Source link

(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