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The Latest Breaking News from Meituan

Is Tencent Winding Down Its Big Investments?

Key Takeaways: Reuters reported Tencent might sell some or all of its Meituan holdings this year, though Tencent called the report ‘inaccurate’ Some think Tencent might sell other stakes in its more than 70 U.S.- and Hong Kong-listed portfolio companies to raise funds to buy back its shares By Fai…

Benzinga

Benzinga Before The Bell: Elon Musk May Get Info It Wants From Twitter, Apple To Lay Off 100 Recruiter Contractors, Saudi's Investment Fund Picks Stocks Of US Big Tech And Other Top Financial Stories Tuesday, August 16

Reuters

Benzinga

Alibaba, Baidu, Tencent Slide: Hang Seng Falls 1% As Bank Of Japan Rate Decision Eyed

Hong Kong’s benchmark Hang Seng Index opened in the red on Thursday as shares of Baidu Inc (NASDAQ: BIDU), Alibaba Group Holding Ltd. (NYSE: BABA<

Benzinga

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Alibaba, Meituan, JD Lead Hong Kong Rally As Markets Cheer Wall Street Bounce

Hong Kong's benchmark Hang Seng Index rose over 2% in early Wednesday trading after a strong opening, driven by big tech stocks such as Alibaba Group Holding Ltd. (NYSE: BABA) and Meituan (OTC:

Benzinga

China’s eateries eye JD.com’s delivery plans with anxiety, hope

Chinese tech giant has floated prospect of entering lucrative market currently dominated by Meituan and Ele.me.

Al Jazeera

Alibaba Could Suffer Fallout As Top Rival Plans Foray In Food Delivery Service

Beijing-headquartered e-commerce giant JD.com Inc (NASDAQ: JD) is mulling a possible foray into the food delivery business, posing an intense competition for its Chinese peers Meituan (OTC: MPNGF) and Alibaba Group

Benzinga

Alibaba Hands Out Bulk Of 2021's Antitrust Penalty; China Signals Ease In Crackdown As It Continues To Monitor Tech Sector

E-commerce giant Alibaba Group Holding Ltd (NYSE: BABA) and on-demand service platform operator Meituan (OTC: MPNGY) jointly handed out 92% of China's antitrust fines,

Benzinga

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China’s tech workers face layoff bloodbath amid crackdown, losses

Tens of thousands of workers have been let go amid a regulatory crackdown and overly aggressive expansion.

Al Jazeera

Here's How Alibaba, JD Are Proving Handy Amid China Lockdown

Alibaba Group Holding Limited (NYSE: BABA), JD.com, Inc (NASDAQ: JD), and Meituan (OTC: MPNGY) have built effic

Benzinga

Why Alibaba, JD, Meituan Are Falling In Hong Kong Today

Shares of U.S.-listed Chinese tech giants Alibaba Group Holding Ltd (NYSE: BABA), Baidu Inc (NASDAQ: BIDU), JD.Com (NASDAQ: JD),

Benzinga

Full Truck Alliance Shift Up a Gear on Regulatory Easing Reports

Key Takeways: Full Truck Alliance shares are up 60% from a mid-March low, including a 32% gain since Friday, on reports that Beijing may ease its regulatory oversight of big tech companies Company is currently undergoing a data security review and said its business could contract in the second quarter…

Benzinga

China Cracks Down Upon Tencent, Other Tech Giants Over Algo Abuse; Questions Alibaba, Others To Address Job Cuts

China looks to rein in the potential abuse of algorithms by internet giants from ByteDance Ltd to Tencent Holdings Ltd (OTC: TCEHY), Bloomberg reports. The Cyberspace Administration of China looks to inspect how social media platforms serve up ads and content to hook users, especially the large-scale websites, platforms, and products with significant influence.…

Benzinga

Covid-19: Shanghai's locked down elite are joining hunt for groceries

SHANGHAI: Even the wealthy are struggling to buy food as Shanghai's lockdown drags on.

The Times of India

Shanghai wrestles with food shortages under virus shutdown

Residents of Shanghai are struggling to get meat, rice and other food supplies under anti-coronavirus controls that confine most of its 25 million people to their homes

The Independent UK

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Benzinga

Meituan's Latest Move Rivals Against Likes Of Alibaba, JD

Meituan (OTC:MPNGY), famed as the "Amazon.com Inc (NASDAQ:AMZN) of services" in China, looked to expand its bouquet of services, tech node reports. The giant service app, whose services ranged from food delivery to travel booking, expanded to selling physical goods akin to Amazon. Meituan's latest move fired up rivalry against China's domestic retail…

Benzinga

'That's A Buy Signal': Why Kevin O'Leary Just Bought Alibaba, Tencent And Meituan Stock

Chinese stocks are trading significantly lower Monday amid a COVID-19 outbreak in China's manufacturing hub, developments between China and Russia in relation to war and regulatory scrutiny of Tencent Holdings Ltd (Pink: TCEHY).

Benzinga

Tencent Follows Alibaba; To Slash Transaction Fees For SMEs

Chinese social media firm Tencent Holdings Ltd (OTC:TCEHY) looks to reduce transaction fees for small and medium-sized merchants using its WeChat payments system by 10%, Reuters reports. The reductions will apply beginning September 1, 2021, and extend to September 30, 2024. The merchants need to meet China's classification standards for small and medium-sized…

Benzinga

Meituan Slashes Commissions Post Regulatory Order; Alibaba Could Be Next

Chinese food delivery firm Meituan (OTC:MPNGY) looks to lower commissions for merchants on its platform, Reuters reports. Other major food delivery platforms in China include Alibaba Group Holding Ltd (NYSE:BABA)-owned Ele.me. Meituan currently charges ~12% in commissions for its food delivery business, a unit accounting for more than 50% of its total revenue, according to…

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Benzinga

Meituan Shares Get Butchered As China Introduces Tougher Laws

Meituan (OTC:MPNGY) shares shed ~15% after China issued new guidelines asking food delivery platforms to cut restaurant fees to reduce business costs, Bloomberg reports. Online food delivery platforms will have to offer preferential fees to restaurants in regions hit by the pandemic, as per the National Development and Reform Commission. Related Content: US Adds…

Caixin Global

China Regulators Make Another Call for Better Protection of Gig Workers

Four central government ministries issue guidance order to 11 internet giants including Alibaba, Tencent, Meituan and Didi

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