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Tencent shares hit by profit drop, murky outlook for China game approvals

HONG KONG (Reuters) - Shares in China’s Tencent Holdings lost more ground on Thursday after it logged its first quarterly profit decline in nearly 13 years and said it did not know when it would get Chinese approval to make money off its most popular game. The disappointing earnings results have highlighted the impact of a freeze on new China approvals for the gaming industry since March due to the restructuring of...

16 Aug 6:49 AM 0 Read More...

UK regulator sticks to 14 pounds a share floor for Sky from Disney

LONDON (Reuters) - Britain’s Takeover Panel said on Thursday it had confirmed its ruling that Walt Disney might have to offer at least 14 pounds a share to buy UK pay-television group Sky. Disney would only be forced to make such an offer if it completes a deal to buy Twenty-First Century Fox’s TV and film assets, which include a 39 percent stake in Sky, before either Fox or rival suitor Comcast succeed in taking...

16 Aug 6:29 AM 0 Read More...

Digital payment firms fight for Hong Kong market

HONG KONG (Reuters) - Hong Kong’s shopping districts are well known for their fierce competition. Now, a new battleground is forming as digital payments firms fight for retailers and shoppers. Chinese tech giants like Tencent and Alibaba are bringing their payment platforms to a city that has long thrived on cash and credit cards, putting them into competition with the likes of Google, Apple and Samsung, as well as...

16 Aug 6:27 AM 0 Read More...

Exclusive: Amazon considering UK insurance comparison site - sources

LONDON (Reuters) - Amazon.com Inc (AMZN.O) is sounding out some of Europe’s top insurance firms to see if they would contribute products to a UK price comparison website in what would be a major foray by the U.S. online retail giant into the region’s financial services. Three industry executives told Reuters they had held talks with Amazon about the possible launch of a site. One said the talks were part of sever...

16 Aug 6:10 AM 0 Read More...

China Evergrande invests in project to build world's fastest supercomputer

HONG KONG (Reuters) - Property developer China Evergrande Group on Thursday said it will invest 1.65 billion yuan ($239.53 million) into six high-tech projects by the Chinese Academy of Sciences, including one aimed at building the world’s fastest supercomputer. The other projects involve artificial intelligence, surgical robotics, unpiloted aircraft, health engineering and graphene. Together, the six projects have...

16 Aug 5:43 AM 0 Read More...

Starboard buys 5.8 percent stake in Symantec, seeks 5 board seats: WSJ

(Reuters) - Activist investor Starboard Value LP has taken a 5.8 percent stake in Symantec Corp (SYMC.O) and is seeking five board seats at the cyber-security company, The Wall Street Journal reported on.wsj.com/2P8maii on Thursday. Starboard privately named its nominees in June after buying the stake worth about $670 million, WSJ said citing sources. According to Starboard, Symantec needs operational changes to impr...

16 Aug 5:28 AM 0 Read More...

Lenovo swings to forecast-beating first quarter profit; PC revenue jumps

HONG KONG (Reuters) - Chinese PC maker Lenovo Group swung to a profit and beat estimates in the first quarter on Thursday, helped by a sharp jump in revenue. Net profit came in at $77 million for the three months ended in June, compared with a loss of $72.3 million in the same period a year earlier when it was hit by higher costs amid a shortage of components. That was ahead of an average estimate of $59.37 million ...

16 Aug 2:12 AM 0 Read More...

Tencent shares slide as profit falls and regulatory outlook spooks investors

HONG KONG (Reuters) - Shares of Chinese technology giant Tencent Holdings plunged on Thursday after it reported its first quarterly profit fall in nearly 13 years and said it did not know whether it would get Chinese approval for its most popular game. Chinese censors’ sometimes abrupt and haphazard regulatory measures have clouded the outlook for the world’s largest market for mobile games in a country where th...

16 Aug 2:11 AM 0 Read More...

Apple accused of pressuring game rivals in Japan: Nikkei

TOKYO (Reuters) - Japanese regulators are investigating Apple Inc over allegations it unfairly pressured Yahoo Japan Corp to slow the expansion of its online games platform, which competes with Apple’s App Store, Japanese media reported on Thursday. The Fair Trade Commission (FTC) is looking at whether Apple interfered in Yahoo Japan’s operations by pressuring it to cut back on developing its Game Plus web-based ...

16 Aug 1:55 AM 0 Read More...

Tencent shares set to slide after first quarterly profit fall in 13 years

HONG KONG (Reuters) - Shares of Chinese technology giant Tencent Holdings were set to slide 4.8 percent on Thursday after it reported its first quarterly profit fall in nearly 13 years and said it had no clarity on when it may get China approval for its most popular game. Tencent’s shares, which have dropped 13.5 percent so far this week, were set to open at HK$320. Shares of South Africa’s Naspers, which owns a...

16 Aug 1:30 AM 0 Read More...