Jean-Pierre Verster on Fed Jay Powell, Hospitality, Property and Tencent
Jean-Pierre Verster took the reins as Monday’s BizNews Power Hour co-host where discussion centred around the US Federal Reserve’s speech.
Jean-Pierre Verster took the reins as Monday’s BizNews Power Hour co-host where discussion centred around the US Federal Reserve’s speech.
The Naspers/Prosus share buyback programme was initiated at the latter end of 2020 with the intention of returning value to shareholders.
“Shares in Tencent and Alibaba take another hit and fears mount of crackdown spreading to other sectors,” reports the Financial Times.
“The authorities are capable of turning their wrath on any company or sector that displeases them,” writes Brooke Masters of the Financial Times.
The political risk associated to all Chinese businesses has escalated ten-fold over the past few weeks as SA pensioners feel the pain.
Even as Beijing unleashes a regulatory assault against tech companies, it continues to shower subsidies and protection on manufacturers.
Chinese tech companies have fallen from grace over the past week, with its regulatory bodies frightening even the most bullish.
“After Alibaba was fined $2.8bn by Chinese regulators for allegedly abusing its market position, about three dozen rushed out with pledges to toe the line.”
“Days after a record fine against Alibaba, China’s tech companies have pledged to adhere to antimonopoly regulations”, reports The Wall Street Journal.
Alibaba has thanked regulators for increasing oversight after the company received a record antitrust fine.