On trading floors in New York and Hong Kong, the brightening mood toward Chinese technology companies is unmistakable: With stocks like Alibaba Group Holding Ltd and Tencent Holdings Ltd surging from multi-year lows, talk of a new bull market is growing louder. Yet speak to executives, entrepreneurs and venture capital investors intimately involved in China’s tech sector and … [Read more...] about China’s tech giants lost their swagger and may never get it back
Tech
US abortion ruling discussions turn contentious inside tech giants
Inside some technology industry bellwethers, discussion of the US Supreme Court decision overturning abortion rights turned contentious on June 24, prompting managers to take steps to quell discord. At Amazon.com Inc, employees clashed on company message boards, debating the meaning of passages from the Old Testament, according to exchanges reviewed by Bloomberg. One person … [Read more...] about US abortion ruling discussions turn contentious inside tech giants
China’s Bilibili launches paywall as it seeks new revenue source
HONG KONG: Chinese video platform Bilibili has launched a paywall for some of its videos as the company, bruised by Beijing’s sweeping crackdown on the tech industry, looks to diversify its revenue sources. The Shanghai-based company, sometimes referred to as China’s answer to YouTube, has started to feature premium videos on its platform. For example, users seeking to watch … [Read more...] about China’s Bilibili launches paywall as it seeks new revenue source
Record numbers of Chinese graduates enter worst job market in decades
BEIJING: Jenny Bai was among 10 high-performing computer science students from different Chinese universities selected by a Beijing-based Internet firm for a job upon graduation, following four rounds of arduous interviews. But last month, the company told the students their contract offers were cancelled due to Covid-19 headwinds and the bad state of the economy in general … [Read more...] about Record numbers of Chinese graduates enter worst job market in decades
Payments firm SumUp raises 590 million euros in latest funding round
BERLIN (Reuters) - London-based payments firm SumUp said on Thursday it raised 590 million euros ($623 million) in its latest funding round, giving it an overall enterprise value of 8 billion euros. The latest round, which involved a combination of equity and debt, brings the total amount of capital raised to 1.5 billion euros, said SumUp, which counts U.S.-based Block's … [Read more...] about Payments firm SumUp raises 590 million euros in latest funding round