Browsing: billion

Tencent bets China’s shopping malls can be fashionable again as it leads $5.4 billion Wanda deal

China’s top think tank predicted in 2016 that one in three of the country’s estimated 4,000 shopping malls would close within five years as consumer spending shifted online and millennials prefer swiping through websites than ruffling


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Ant Financial plans equity fundraising at potential US$100 billion valuation

China’s Ant Financial Services Group is planning to raise up to US$5 billion in fresh equity that could value the online payments giant at more than US$100 billion, people familiar with the move said. A fundraising


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Chinese online retailer JD.com raises US$2.5 billion for logistics arm in latest round of funding

JD.com announced on Wednesday that it has raised US$2.5 billion in the latest funding round for its subsidiary JD Logistics and it comes at a time when China’s second largest online retailer is looking to build


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Alibaba, Tencent rally troops amid $10 billion retail battle

China’s tech giants Alibaba Group Holding and Tencent Holdings, worth a combined $1 trillion, are on a retail investment binge, forcing merchants to choose sides amid a battle for shoppers’ digital wallets. Since the start of


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Amazon buys smart doorbell maker Ring for a reported US$1 billion

By Eugene Kim Amazon is buying smart doorbell maker Ring, a deal that will allow Amazon to work with the team on home security, the companies said. In an email statement to CNBC, Ring’s spokesperson confirmed


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