NIP, which achieved a milestone as the first listed Chinese company in the esports industry, raised a total of US$20.25 million from its offering of 2.25 million American depositary shares at US$9 per share. “Looking back at this journey, we started as an esports team [and] has now grown into becoming the representation of the … Read more
The 31-year-old Dong, a former teacher who gained fame and wealth in China’s live-streaming e-commerce sector, left his employer because of “career aspirations, commitment to his other pursuits and personal time arrangements”, Hong Kong-listed East Buy said in a filing on Thursday. Dong’s resignation is effective immediately. As part of that departure, East Buy agreed … Read more
Chinese cybersecurity companies are taking advantage of the massive Microsoft Windows outage that upended businesses and grounded flights around the world on Thursday and Friday by promoting their own software, as Beijing pushes to cut the country’s reliance on foreign suppliers. Austin, Texas-based cybersecurity company CrowdStrike caused the outage, one of the largest in history, … Read more
Micron’s fiscal fourth-quarter sales will be US$7.4 billion to US$7.8 billion, the company said in a statement on Wednesday. While the average analyst estimate was US$7.58 billion, some projections were above US$8 billion. Profit will be about US$1.08 a share, minus certain items, versus a projection of US$1.02. Though Micron is getting a boost from … Read more
A new stock exchange in Dallas, Texas, is set to begin securities trading next year, with plans to start listing companies by 2026. The Texas Stock Exchange (TXSE) Group has secured $120 million in funding from over two dozen investors, including Larry Fink’s Blackrock and Kenneth Griffin’s Citadel, making it “the most well-capitalised exchange entrant … Read more
Hangzhou-based Alibaba, owner of the South China Morning Post, on Thursday signed a deal to sell 26.5 million Baozun shares to Champion Kerry for US$21.8 million, according to Baozun’s latest regulatory filing. Those shares represent about 14.4 per cent of the total outstanding shares of Baozun as of March 31 this year. That transaction followed … Read more
Netflix stock prices dropped from its record-high of $691.69 in October 2021 to under $170 in mid-2022, when the stock market had a terrible year amid recession fears and the US Fed’s aggressive monetary tightening campaign to curb raging inflation. The Fed’s move led to record interest rates that remain elevated. However, the tech-heavy stock … Read more
U.S. stocks reached new highs last week as the rally broadened on lower bond yields and better earnings reports. The S&P 500 ended the week at 5,234.18, up 2.3%; the Dow Jones at 39,475.90, up 1.98%; the tech-heavy Nasdaq at 16,428.82, up 2.9%; and the small caps Russell 2000 at 2,072.00, up 1.60%. This time, … Read more
Updated Feb. 15 at 6:21 p.m. GMT LONDON — José Neves is stepping down as chief executive officer of Farfetch two months after Coupang and the San Francisco-based firm Greenoaks Capital purchased the e-commerce platform out of administration and pledged $500 million to help revive it. According to a memo seen by WWD, Neves will … Read more
The largest technology stocks that lifted the broader market last year are having a less-rosy start to 2024. The so-called Magnificent Seven, which includes Apple, Amazon.com, Alphabet, Microsoft, Meta Platforms, Tesla and Nvidia, slipped for the last four trading days, the longest losing streak in a month, according to the Bloomberg Magnificent 7 Price Return … Read more
