When sitting down to attend MoneyFest 2020, one cannot miss the level of sophistication the webinar offered; it was similar to watching a high production financial show that stretched out for days, allowing a seamless level of connectivity between the speakers and attendees. Hosting a plethora of experts, executives, and tech gurus from around the […]
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Japanese technology company SoftBank Group Corp. said Monday it restored its profitability in the last quarter as its investments improved in value. The Tokyo-based company reported a 627 billion yen, or about $6.1 billion, profit in July-September, compared with a loss of 700 billion yen in the same quarter of 2019. SoftBank said its quarterly […]
Almost a week from now, millions of online shoppers will flock to spend on the world’s biggest online shopping festival: Singles’ Day. According to a report by US-based consulting firm Bain & Company, online shoppers in China spent a whopping 410 billion yuan (US$60.4 billion) in 24 hours last year – double what Amazon generates […]
HONG KONG (AP) — Stella Su, who lives and works in Shanghai, has used an ATM only once in the past year. Instead of cash, in recent years she has done almost all her business using the digital wallet Alipay –- shopping in a mall, buying stuff online or transferring money to friends. “Now when […]
The world’s largest fintech company, China’s Ant Group, will try to raise nearly $35 billion in a massive public offering of stock that would shatter records. Alibaba-affiliated Ant Group, which operates a suite of financial products including the widely-used Alipay digital wallet in China and one of the world’s largest money market funds, will hold […]
China Broadcasting Network Co. (CBN) has been formally inaugurated as the country’s fourth mobile operator after receiving the green light from the state regulator earlier this year. The two-day old company has signed a joint venture – that includes network sharing and construction deals – with the country’s largest mobile operator China Mobile to accelerate […]
NEW YORK (AP) — President Donald Trump’s bans on two popular Chinese social media apps — TikTok and WeChat — are the latest moves in an escalating U.S.-China rift, and point to a future where technology and innovation are increasingly walled behind political barriers. In China, the Communist Party has long limited what foreign tech […]
NEW YORK (AP) — SAP says it plans to spin off Qualtrics and take it public less than two years after acquiring the survey-software provider. SAP said Sunday it will retain majority ownership of Qualtrics’ shares. The German software giant announced in November 2018 that it agreed to pay $8 billion cash for Qualtrics, just […]
LONDON (AP) — The European Union’s top court ruled Thursday that an agreement that allows thousands of companies — from tech giants to small financial firms — to transfer data to the United States is invalid because the American government can snoop on people’s data. The ruling to invalidate Privacy Shield will complicate business for […]
By ZEN SOO Associated Press HONG KONG (AP) — JD.com’s annual “618” online shopping extravaganza racked up a total of 269.2 billion yuan ($38 billion) worth of transactions, as consumers splurged during China’s first major e-commerce sale since the pandemic began. This year’s tally was 33% higher than last year’s 201.5 billion yuan in sales. […]