Search results for "Didi"

AI firm SenseTime relaunches IPO amidst U.S. blacklisting

A week after removing its listing from Hong Kong Stock Exchange, Chinese Artificial Intelligence (AI) startup, SenseTime Group, relaunched its $767 million initial public offering (IPO) on Monday. The company pulled out its offering amidst escalating geopolitical tension between China and the U.S. after Washington accused the firm of creating facial recognition tools to identify […]

Documents align Huawei with China’s Xinjiang surveillance

In a fierce attempt to expose affiliates linked to China’s Xinjiang surveillance accusations, The Washington Post publicized on Tuesday a hidden aspect revealing Huawei’s association in persecuting against the region’s ethnic minorities. The leaked PowerPoint presentations acquired by the news outlet revealed that it had obtained the documents through a public Huawei site before being removed by […]

China stiffens scrutiny on HKSE IPO, issues Beijing Stock Exchange

The Cyber Administration of China (CAC) uncovered on Sunday a draft rule requiring tech firms listing in Hong Kong Stock Exchange (HKSE) to succumb to a cyber security review for share sales jeopardizing national security. Beijing’s watchdog has played its card in its overdue battle with its tech sector, with a maneuver that will endanger […]

Uber Q3 loss widens on investment losses, revenue up 72%

Uber on Thursday posted a big rebound in third-quarter revenue thanks to riders and drivers returning from pandemic lockdowns, but its bottom-line loss was wider than Wall Street expected. The San Francisco-based ride-hailing company said its third-quarter loss widened to $2.42 billion, or $1.28 per share, from $1.1 billion, or 62 cents per share, in […]

China tightens political control of internet giants

The ruling Communist Party is tightening political control over China’s internet giants and tapping their wealth to pay for its ambitions to reduce reliance on U.S. and European technology. Anti-monopoly and data security crackdowns starting in late 2020 have shaken the industry, which flourished for two decades with little regulation. Investor jitters have knocked more […]

China’s cloud market next in line for regulatory scrutiny

In its latest regulatory maneuver, China proceeds to aim its regulatory glaze at its Big Tech giants by demanding to end a long-established practice of prohibiting each other’s connection on their sites, a move that could result in catastrophic consequences on its domestic market and China-based companies’ stakes. Beijing’s move raised the distress level amongst […]

China orders ride-hailing firms to correct unfair tactics

BEIJING (AP) — Chinese regulators have ordered ride-hailing platforms to correct unfair market tactics amid a broad crackdown on the internet sector that has spooked investors and shaved billions off the valuations of some of China’s biggest technology companies. The transport ministry, internet watchdog and other regulators on Wednesday ordered 11 such platforms by year’s […]

ANALYSIS: China extends control with online gaming crackdown

Hugely popular online games and celebrity culture in China are the latest targets in the ruling Communist Party’s campaign to encourage the public to fall in line with its vision for a powerful, more wholesome country. The message? Play less, study and work more. Rules that take effect Wednesday cut the amount of game time […]

Beijing axes Pony.ai's IPO plans

China has allegedly terminated independent driving startup Pony.ai’s efforts to go public on New York Stock Exchange (NYSE) amidst Beijing’s endeavors to enforce regulations on numerous sectors in China’s tech industry, Reuters reported on Wednesday. The California-based company was expected to go public via a special-purpose acquisition with a blank-check company in the U.S. that would have […]

Uber's recovery accelerates, but worries about losses linger

Uber’s ride-hailing service is regaining the momentum that it lost during the pandemic, but it’s coming at a cost that’s raising more doubts about the company’s ability to make money. At the same time, Uber’s unprofitable delivery service is still growing at a torrid pace, indicating that some homebound habits may be here to stay, […]