China is preparing a substantial fine for Tencent as part of its sweeping antitrust clampdown on internet giants, but it is likely to be less than the $2.75 billion penalty imposed on Alibaba earlier this month.
Another day, another story about Burberry innovating in the technology area. After news of its virtual digital store in Japan, on Monday we heard that it's diving deeper into gaming in a China-focused development.
Rakuten Inc’s shares jumped as much as 24% on Monday after the Japanese e-commerce firm said it would raise $2.2 billion through a stake sale to companies including Japan Post and Tencent as it takes on Amazon.
JD.com Inc is in talks to buy part or all of a stake in brokerage Sinolink Securities worth at least $1.5 billion, three people said, as the e-commerce major aims to bolster its financial services operations.
Alibaba and Ant Group founder Jack Ma has lost the title of China's richest man, a list published on Tuesday showed, as his peers prospered while his empire was put under heavy scrutiny by Chinese regulators.