Business
China’s tech giants fall under regulator’s pressure – BBC News
Tencent saw $62bn wiped off its valuation while Alibaba may have to sell some of its media assets.
image copyrightGetty Images
China’s tech giants are coming under increasing pressure from regulators worried about their growing influence.
By Monday, Tencent had shed more than $60bn (£42bn) from its market value as its share price slid over concerns of greater regulator scrutiny.
Media reports suggest that rival tech giant Alibaba may have to sell some of its media assets under the crackdown.
Chinese regulators have signalled a tougher approach towards tech firms.
China’s State Administration…
-
Noosa News21 hours agoNew South Wales Blues left to pick up the pieces after fumbling a chance at State of Origin glory
-
Noosa News15 hours agoHelp to make recycling stick
-
Noosa News13 hours agoFormer Darling Downs Zoo employee sheds new light on horrific lion attack on teacher Joanne Cabban
-
Noosa News24 hours agoHow do you choose a safe childcare centre?