By Paul Carsten
Alibaba Group Holding Ltd said on Thursday that the group will sell the firm’s stake in Meituan, a company that delivers food and offers deals from local businesses, to focus on its own rival Koubei venture. “We’ve had a very successful financial investment in Meituan but we believe that a… Read more »
On Tuesday, Apple reported the slowest-ever increase in iPhone shipments as the Chinese market weakened. That slowdown in the world’s second-largest economy is threatening to hamstring consumption across the country. Xiaomi, China’s most valuable start-up, is under threat, after it missed targets for $1 billion in Internet service revenue and also handsets sales in 2015.
Li Ruigang, chief executive officer of China Media Capital, is aiming to raise as much as $1.2 billion in private equity to nearly triple the size of CMC’s entertainment investment funds.
Didi Kuaidi, which is backed by China’s biggest e-commerce firm Alibaba Group Holding and leading social networking company Tencent Holdings, is battling with U.S. start-up Uber Technology Inc’s local arm, a smaller but well-funded rival.
Haier’s swift, bold move bore all the hallmarks of a seasoned, well-prepared M&A player and underscored how Chinese buyers are becoming increasingly confident about their ability to clinch deals within tight time-frames.
UK-based growth-stage startup Everledger emerged as top winner at the Fintech Finals 2016 in Hong Kong on Tuesday beating 23 other startup finalists from around the globe.
Many players say that whether outflows resume in earnest after the Chinese New Year break in the second week of February should show whether funds are right to expect more dramatic declines. That has prompted comparisons with the victories of George Soros-led funds over European governments in the early 1990s.
In his comments, Soros said he had been betting against the S&P 500, commodity-producing countries and Asian currencies, while buying U.S. government bonds.
Fund V will invest in early to growth-stage investments in the internet and consumer sectors like healthcare, IT and cleantech.
Chinese e-commerge giant Alibaba’s revenue growth seen slowest on record; to intensify fight with JD.com
Chinese e-commerce giant Alibaba Group Holding Ltd is expected to post its weakest quarterly revenue growth on record, Thomson Reuters data shows, a slowdown analysts say will heat up the battle with smaller rival JD.com Inc in a tougher economy. Alibaba‘s revenue for the quarter ending December is projected to… Read more »