MultiversX offers up massive million dollar hackathon prize fund September 22, 2023 Web3 ecosystem MultiversX is to hand out a mammoth $1m prize fund at its xDay Hackathon.
Tencent revenue rises as Covid-19 lockdown drives mobile gaming boom May 13, 2020 Tencent today posted a rise in revenue and profit for the first quarter as global coronavirus lockdowns boosted demand for its blockbuster mobile games. The Chinese tech conglomerate posted revenue of 108bn yuan (£12.4bn) in the first three months of the year — up 26 per cent year on year. Profit attributable to equity holders [...]
EU opens probe into Microsoft’s £59bn deal to buy Call of Duty maker Activision Blizzard November 8, 2022 The European Commission has opened an in-depth investigation into Microsoft’s proposed $68.7bn (£59.5bn) acquisition of Call of Duty maker Activision Blizzard. The commission said it was concerned that the proposed deal may reduce competition in the market. A preliminary investigation found that the transaction may significantly reduce competition, including multi-game subscription services and cloud game [...]
Pinduoduo shoot up 22 per cent after donating £1bn to Chinese agriculture sector August 25, 2021 Chinese e-commerce group Pinduoduo said it would donate RMB 10bn (£1.12bn) in future earnings to contribute to the development of agriculture as part of the country’s “common prosperity” vision. Shares for the Nasdaq-listed company were up 22 per cent following the announcement of the programme. Pinduoduo reported its first-ever quarterly profits as a public company [...]
Watchdog flags competition concerns for Microsoft and Call of Duty maker Activision Blizzard’s £50bn deal September 1, 2022 Regulators have flagged competition concerns over Microsoft’s $68.7bn acquisition of Call of Duty maker Activision Blizzard, giving the US giants until next week to provide evidence.
Nvidia: Analysts say “more juice for the orange” as share price spikes August 20, 2023 Ahead of its second-quarter results, American chip designer Nvidia is riding high after a successful first half, with shares skyrocketing over 200 per cent since January, and analysts foreseeing more gains. Nvidia, the S&P 500’s star of the year, is anticipated to report a 65 per cent year on year sales surge to $11.1bn (£8.7bn). Earnings [...]
Shares in Asia focused companies dip as Chinese inflation soars April 11, 2022 Shares in London listed companies with Asia focused businesses dropped today after Chinese government data showed outbreaks of Covid and the war in Ukraine had caused inflation in China to soar. The dips come after figures from China’s National Bureau of Statistics (NBS) showed factory gate prices are up 8.3 per cent compared to [...]
Exclusive: Second Home dodges bankruptcy and eyes US expansion with fresh funding July 26, 2022 Shared office space firm Second Home has scooped a £7.5m funding package to dodge bankruptcy and is now eyeing up expansion in the US, City A.M. can reveal.
Tencent posts rise in profit as pandemic drives surge in Wechat use March 18, 2020 Tencent today said the coronavirus outbreak had driven a huge surge in usage for its social media platform Wechat. The Chinese tech giant said Wechat had racked up 8bn visits since February as people logged in to access so-called health codes that allow them to travel during the outbreak. It came as Tencent posted fourth [...]
Nuclear fusion lures investors as scientists hope for new breakthroughs July 14, 2022 Nuclear fusion has enjoyed a huge bump-up in global investment over the past 12 months, raising hopes of a breakthrough.