Fortnite rival PUBG cuts ties with China’s Tencent in India September 8, 2020 The owner of Playerunknown Battlegrounds, also known as PUBG, is to sever a publishing deal with Chinese giant Tencent for its game in India, in an effort to get around the government’s ban of its app in the country. South Korean firm PUBG Corporation said today it will no longer give Tencent Games the rights [...]
Apple boots Fortnite off App Store after challenge to payment rules August 13, 2020 Apple has removed Fortnite off its App Store, after the game’s creator Epic Games instituted a new way of buying in-game benefits that circumvents Apple’s rules. Epic Games has in turn initiated legal action against Apple, it said in a statement. “Apple’s removal of Fortnite is yet another example of Apple flexing its enormous power [...]
Tencent profit beats expectations as Wechat ban looms August 12, 2020 Tencent today said it has smashed expectations for second-quarter revenue and profit as the Chinese tech giant enjoyed higher demand for its video games during the Covid-19 lockdown. The world’s largest video game company posted revenue of 114.9bn yuan (£12.7bn) in the three months to the end of June — an increase of 29 per [...]
FTSE 100 climbs on economic recovery hopes August 10, 2020 The FTSE 100 pushed higher today as investors shrugged off concerns about ongoing tensions between China and the US and focused on positive signs of economic recovery. The blue-chip index was up 0.93 per cent at 6,087 points in early trading, before dipping to a 0.42 per cent rise shortly before 3pm. The positive start [...]
Tiktok threatens legal action over Trump executive order August 7, 2020 Tiktok has said it is considering legal action after US President Donald Trump signed an executive order banning the app in 45 days’ time. The short-form video app said it was “shocked” by the order. It added that it would it would “pursue all remedies available” to “ensure the rule of law is not discarded”. [...]
FTSE 100 flatlines as Trump order ramps up US-China tensions August 7, 2020 The FTSE 100 flatlined on a choppy morning of trading after US President Donald Trump signed executive orders hitting Chinese firms Tiktok and Wechat, and Congress and the White House failed to agree on a stimulus plan. London’s blue-chip index was roughly flat at 6,027 points at midday. The FTSE 250 of mid-cap firms rose [...]
Gold consolidates near record highs as US-China tensions escalate August 7, 2020 Gold climbed further as demand for the precious metal surges against a backdrop of escalating US-China tension. The price of gold per ounce teetered between small gains and minor losses during the Asia session but seems to have stabilised around the $2,060 mark. It rose to new record highs in the early part of the [...]
Trump issues executive order against Tiktok and Wechat over China links August 7, 2020 US President Donald Trump has signed an executive order promising a ban on Chinese-owned apps such as Tiktok and Wechat within 45 days. The two apps must be removed from Apple and Google’s app stores and all business ceased with US companies by the deadline. Tiktok owner Bytedance is currently in negotiations over a sale [...]
Fortnite creator Epic Games raises $1.78bn August 6, 2020 Epic Games, the firm behind the popular online multiplayer game Fortnite, said today it has raised $1.78bn in its latest funding round, taking its valuation to $17.3bn. The latest funding round includes the $250m investment made by electronics giant Sony last month for a reported 1.4 per cent stake in the company. Other new investors [...]
Crypto trading volumes plummeted in June, but Altcoins are moving up July 14, 2020 This week the price of Bitcoin (BTC) started trading around $9,200 and quickly moved up to $9,450. A potential rally was rejected close to $9,500 and BTC’s price then moved back down to $9,150, but it has since recovered back to $9,300. Ether (ETH), the second-largest cryptocurrency by market capitalization, had a similar price performance [...]