Tencent stops sales on its NFT platform Huanhe a year after launch as scrutiny mounts

People visit a Tencent booth at the 2021 China International Fair for Trade in Services (CIFTIS) in Beijing, China September 3, 2021. REUTERS/Florence Lo Register now for FREE unlimited access to Reuters.com Register HONG KONG, Aug 16 (Reuters) – Chinese internet giant Tencent Holdings’ (0700.HK) non-fungible token (NFT) platform Huanhe will no longer release digital … Read more

SoftBank steps up asset sales from sinking portfolio

A journalist raises her hand to ask a question to Japan’s SoftBank Group Corp Chief Executive Masayoshi Son during a news conference in Tokyo, Japan, November 5, 2018. REUTERS/Kim Kyung-Hoon/File Photo/File Photo Register now for FREE unlimited access to Reuters.com Register TOKYO, Aug 9 (Reuters) – SoftBank Group Corp (9984.T) is accelerating asset sales after … Read more

Analysis: Why the banks financing Musk’s Twitter deal are unlikely to be able to help him walk away

An image of Elon Musk is seen on smartphone placed on printed Twitter logos in this picture illustration taken April 28, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Register now for FREE unlimited access to Reuters.com Register Aug 5 (Reuters) – The banks that agreed to finance Elon Musk’s $44 billion acquisition of Twitter Inc (TWTR.N) have a … Read more

India’s Pine Labs eyes $4-5 billion in monthly payments volume from new business

MUMBAI, Aug 5 (Reuters) – India’s Pine Labs is targeting $4 billion to $5 billion in monthly transactions within two years for its new online payments business, its chief executive told Reuters. At that point, online payments should contribute 20% of revenue, Pine Labs chief executive Amrish Rau said, disclosing the company’s targets for the … Read more

TSX gains as US economic data bolsters tech shares

A sign board displaying Toronto Stock Exchange (TSX) stock information is seen in Toronto June 23, 2014. REUTERS/Mark Blinch/File Photo Register now for FREE unlimited access to Reuters.com Register TSX ends up 40.61 points, or 0.2%, at 19,545.94 Tech rallies 4.6 with Shopify up 10.8% Financials end 1.2% higher Energy falls 4.2% as oil prices … Read more

PayPal registers to Indonesia’s licensing rules, access unblocked

PayPal app is seen on a smartphone in this illustration taken, July 13, 2021. REUTERS/Dado Ruvic/Illustration Register now for FREE unlimited access to Reuters.com Register JAKARTA, Aug 3 (Reuters) – US payments firm PayPal (PYPL.O) has registered as an electronic systems operator in Indonesia and its customers can now access its services, the company said … Read more

As the US eyes new China chip curbs, turmoil looms for the global market

Any US export block may affect global chip supply – analysts Move would hinder Samsung, SK Hynix upgrading China plants Samsung, SK Hynix together supply over 50% of global NAND chips Curbs could change where future chip plants are built -analyst SEOUL, Aug 3 (Reuters) – Export restrictions being considered by Washington to halt China’s … Read more

UK’s Travis Perkins slides as DIY sales cool off

A signage is pictured at a building of Travis Perkins, a timber and building merchants yard in St Albans, Britain October 22, 2020. REUTERS/Paul Childs Register now for FREE unlimited access to Reuters.com Register Aug 2 (Reuters) – Travis Perkins (TPK.L) said on Tuesday its Toolstation business swung to a loss in the first-half, as … Read more

Big Tech in finance? There’s a regulator for that

The logo for Amazon Web Services (AWS) is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. REUTERS/Chris Helgren Register now for FREE unlimited access to Reuters.com Register WASHINGTON, Aug 1 (Reuters Breakingviews) – Technology companies have stormed the heights of consumer finance, but they don’t face the regulation … Read more

Analysis: Investors gauge US stocks rebound: ‘suckers’ rally’ or market bottom?

NEW YORK, July 27 (Reuters) – As investors await another jumbo-sized rate increase from the Federal Reserve, they are taking the temperature of a weeks-long US stock market rally that followed a vicious first-half selloff. Even after Tuesday’s sharp fall, the S&P 500 remained up 7% from its June 16 low, buoyed in part by … Read more