Culture and creativity will drive a new golden era for the UK and China December 6, 2018 The strength of Britain’s technological and creative industries, combined with the longstanding value of its archetypal brands, has given rise to a growing desire among Chinese companies to invest in the UK. This follows on from the strong trade ties between the two nations. The UK exported £22bn worth of goods and services to China [...]
Tencent music arm makes its move on delayed IPO set to raise up to $1.23bn December 3, 2018 Tech giant Tencent Holdings’ music subsidiary has moved forward on a New York Stock Exchange initial public offering (IPO) of up to $1.23bn (£1bn) today. Tencent Music Entertainment is hoping to raise between $1.07bn and $1.23bn, according to a US Securities and Exchange Commission filing, in a delayed offering that was originally planned to launch in [...]
Chinese online retailer JD.com’s revenue growth slows amid trade war concerns November 19, 2018 Chinese e-commerce giant JD.com today reported its slowest quarterly revenue growth since its 2014 initial public offering. The company, which is backed by Walmart, Google and China’s Tencent, reported a 25 per cent rise in revenues for the last quarter, totalling 104.8bn yuan (£11.75m). But the growth was well below previous rates, which hit 60 per [...]
Chinese tech giant Tencent beats expectations on quarterly profit, but gets hurt by slowed revenue growth November 14, 2018 Tencent has trounced consensus estimates on profits in its third quarter, as gains from its investments helped to offset weaker results in its core gaming business hit by legal woes. Its share price was down 0.8 per cent as markets closed in Hong Kong this morning. The figures Net profit in the three months to September [...]
How emerging markets have changed over the past 20 years November 8, 2018 The transformation of emerging markets has been remarkable. The countries and companies that dominated 20 years ago have changed dramatically, influenced by the major geopolitical, economic and demographic changes that have taken place over this time. Navigating these changes can be complex, but these developments underline the importance of taking a flexible, active approach and [...]
How would you like to pay for that, madam? October 17, 2018 The global payments industry is dramatically improving due to technology. Mobile has changed everything. Payments are getting faster and smarter. Competition is intense. And payments are revolutionsing markets in the developing world even faster than in the developed world. In just the next seven years, the McKinsey Global Institute estimates that widespread adoption and use [...]
Tencent delays its $2bn US stock listing due to soured market October 12, 2018 Tencent Music Entertainment has delayed its listing on the New York Stock Exchange until November at the earliest, as sources told Reuters it would rather wait until global markets have stabilised. The initial public offering (IPO) had been planned for as early as next week, which was set to raise at least $2bn (£1.5bn). "Given the [...]
Alibaba billionaire Jack Ma named China’s richest man October 10, 2018 Alibaba founder Jack Ma has been named as the richest man in China for the second time in recent years after his wealth rose more than a third to $39bn (£29.6bn). Ma last topped the Hurun rich list in 2014 but has regained his position at the top after a new round of investment in [...]
German digital bank N26 backed by Tencent and Peter Thiel launches in the UK October 4, 2018 A German digital bank backed by Tencent, Li Ka-shing and Peter Thiel will launch in the UK today with the aim of taking on the big high street banks and adding to the fierce competition among British app-only banks. N26, which already counts 1.5m customers across 17 European countries, has started rolling out its banking [...]
Chinese ride-hailing firm Didi Chuxing to plug £16m into customer service after passenger death September 5, 2018 Chinese ride-hailing firm Didi Chuxing is set to fork out 140m yuan (£16m) to improve its customer service, after a passenger was raped and killed by her driver. Founder Cheng Wei told government regulators of his decision when they visited the company as part of a nation-wide inspection into ride-hailing firms, according to reports from Chinese newspaper Beijing [...]