Fortnite creator Epic Games raises $1.78bn August 6, 2020 Epic Games, the firm behind the popular online multiplayer game Fortnite, said today it has raised $1.78bn in its latest funding round, taking its valuation to $17.3bn. The latest funding round includes the $250m investment made by electronics giant Sony last month for a reported 1.4 per cent stake in the company. Other new investors [...]
Chinese tech firm Tencent is considering a bid for Nexon’s holding company January 19, 2019 Chinese tech firm Tencent is weighing up a bid for the holding company that controls South Korean gaming company Nexon. Tencent is looking to enlist co-investors as it considers making a move to acquire the company, according to Reuters. Private equity firms are looking at options for a potential deal, including taking the company private. [...]
Reddit users launch Winnie the Pooh protest against Tencent amid censorship fears February 11, 2019 Defiant images of Winnie the Pooh have sprung up across community news site Reddit as users hit back at a major investment by Chinese tech giant Tencent. Reddit confirmed today that the Chinese conglomerate has contributed a $150m (£116m) investment in the website, which describes itself as the ‘front page of the internet’, as part of a wider [...]
North/South Divide February 15, 2022 The way in which countries in the Asia Pacific region dealt with the coronavirus pandemic is well documented. Governments in that region reacted swiftly and implemented strict lockdown measures to curb the spread of the virus. However, the recovery and pace of growth has not been uniform across the region, with North Asian countries outperforming [...]
Apple boots Fortnite off App Store after challenge to payment rules August 13, 2020 Apple has removed Fortnite off its App Store, after the game’s creator Epic Games instituted a new way of buying in-game benefits that circumvents Apple’s rules. Epic Games has in turn initiated legal action against Apple, it said in a statement. “Apple’s removal of Fortnite is yet another example of Apple flexing its enormous power [...]
Sony injects $250m into Fortnite creator Epic Games July 10, 2020 Sony has invested $250m in the game studio behind Fortnite, giving the tech giant a reported 1.4 per cent stake in the business. Epic Games is now said to be valued at $17.9bn after the deal. The two companies said the deal will allow them to “broaden their collaboration across Sony’s leading portfolio of entertainment [...]
Gold consolidates near record highs as US-China tensions escalate August 7, 2020 Gold climbed further as demand for the precious metal surges against a backdrop of escalating US-China tension. The price of gold per ounce teetered between small gains and minor losses during the Asia session but seems to have stabilised around the $2,060 mark. It rose to new record highs in the early part of the [...]
Chinese streaming giant Tencent Music raises $1.1bn in IPO December 12, 2018 Chinese tech giant Tencent will raise roughly $1.1bn (£877m) in the US initial public offering (IPO) of its music streaming division. Tencent Music priced its shares at $13 each, at the low end of its $13-$15 range, and will begin trading on the New York Stock Exchange today. The share price puts Tencent Music’s value [...]
NFTs and the rise of crypto frauds April 12, 2021 With the rise in popularity of NFTs comes the inevitable rise in bad players looking to exploit the market.
FTSE 100 climbs on economic recovery hopes August 10, 2020 The FTSE 100 pushed higher today as investors shrugged off concerns about ongoing tensions between China and the US and focused on positive signs of economic recovery. The blue-chip index was up 0.93 per cent at 6,087 points in early trading, before dipping to a 0.42 per cent rise shortly before 3pm. The positive start [...]