Category: Trucking News

Tencent Falls $90 Billion Behind Alibaba After NBA China Row

(Bloomberg) -- Just a year ago, Tencent Holdings Ltd. locked up one of the most coveted media franchises in the country when it paid $1.5 billion for five years of exclusive streaming rights to National Basketball Association games. A single tweet changed all that.Now, the Chinese social media giant may have to suspend airing those matchups -- which drew half a billion viewers last year -- after Houston Rockets General Manager Daryl Morey triggered a media blackout in China by tweeting support for Hong Kong’s pro-democracy protests. That sums up a disappointing 2019 for a company that looked like it was back on track after a horrendous 2018.At stake now for Tencent are billions of dollars in ad and subscription revenue, along with its strategy of becoming a go-to online destination for entertainment beyond gaming. Tencent was supposed to hit the comeback trail this year after a nine-month freeze on game...

UPDATE 1-Telecoms, chipmakers buoy European shares; all eyes on Trump speech

European shares were little changed on Tuesday, as positive earnings updates from Deutsche Post and Infineon were offset by caution ahead of a speech by U.S. President Donald Trump that could offer clues about a trade deal with China. The pan-European STOXX 600 index was up 0.1% on hopes Washington will delay tariffs on cars and auto parts imported from the European Union. Telecoms shares led gains, boosted by the world's second largest mobile operator Vodafone after it increased its full-year earnings guidance....