When China first opened to overseas investors, the country was desperate for foreign technology to revive its growth. Now, as China faces rising global barriers, its leader, Xi Jinping, is urging greater domestic innovation.
Mr. Xi delivered this message on Wednesday while making an anniversary pilgrimage to the southern city of Shenzhen, which in 1980 was established as a “special economic zone” next to the global financial hub of Hong Kong. Shenzhen quickly became an incubator for “reform and opening up,” the strategy championed by the Chinese leader Deng Xiaoping that paved the way for the country’s decades-long economic takeoff.
Forty years later, Mr. Xi said China still welcomed foreign investors, but he also said it must prepare for a less welcoming world. The coronavirus pandemic has accelerated the rise of barriers to the free flow of goods and technology, Mr. Xi said, a theme that he has stressed recently.
(Bloomberg) — Google is confronting a growing backlash against its market power in international markets, compounding the company’s regulatory challenges as it girds for an historic antitrust suit from the U.S. Justice Dept.
In just a matter of weeks, the search giant’s business practices have drawn scrutiny in Australia, South Korea and India. The European Union’s antitrust chief has already threatened to break up Google if it won’t change its ways, while the company pulled out of China a decade ago because of government censorship.
India is a prime example of how Google’s troubles could undercut future growth. More than 200 startup founders have banded together and opened discussions with the government to stop the Alphabet Inc. unit from imposing a 30% fee on smartphone app purchases, its standard levy around the world. While Google delayed implementation for six months after an outcry last week, the country’s tech
(Reuters) – Roblox Corporation is working with investment banks to prepare for a U.S. stock market listing that could come early next year and which the online gaming platform expects could double its recent $4 billion valuation, people familiar with the matter said.
U.S. demand for video games has surged as consumers seek home entertainment while living under lockdown measures to curb the spread of the novel coronavirus.
U.S. consumer spending on video gaming hit a record $11.6 billion in the second quarter, up 30% on the year-ago period, according to research firm NPD Group.
Roblox is weighing whether to go public through a traditional initial public offering or a direct listing, the sources said, cautioning that the plans are subject to market conditions.
The sources requested anonymity as the plans are private. Roblox declined to comment.
fuboTV (FUBO) intends to raise $150 million from the sale of its common stock in an IPO, according to an amended registration statement.
New York, NY-based fuboTV was founded to offer a combination subscription and advertising revenue platform to stream mostly sports events to user devices such as SmartTVs, mobile phones and other computing devices.
In 2019, pre-acquisition, fuboTV generated a monthly ARPU of $54, which represented an increase of 42% over the previous year.
Management is headed by Chief Executive Officer Mr. David Gandler, who has been with the firm since April 2020 and was previously president and CEO of fuboTV and Vice President Ad Sales at DramaFever, a video streaming service.
Below is a brief overview video of a consumer review of fuboTV:
NASA is preparing to pull off a daring heist: Next month the robotic spacecraft OSIRIS-REx will touch down on the surface of asteroid Bennu and collect a sample, aiming to precisely touch this tiny asteroid just 260 meters wide and which is currently around 207 million miles away from Earth.
The aim of the mission is to collect at least 60 grams of asteroid rock in an event called Touch-And-Go (TAG) and return it to Earth for study, which would be the first time NASA has collected an asteroid sample. Analyzing the composition of primitive asteroids like Bennu could give clues to how the solar system developed and even about the origin of life on Earth.
But it’s no easy task to scoop up a sample from an