Connect with us
https://tickernews.co/wp-content/uploads/2023/10/AmEx-Thought-Leaders.jpg

Money

China requests Didi to delist from US markets

Published

3 years ago

on

Chinese regulators have asked top executives at Didi to delist from the U-S stock exchange on security fears

China’s tech watchdog wants to take the Didi, a popular ride service off the New York Stock Exchange amid concerns about leaked of sensitive data.

There are several proposals under consideration, including a straight up privatisation, or a share-float in Hong Kong.

According to reports, the company ran afoul of Chinese authorities when it pressed ahead with its New York listing, despite the regulator urging it to put it on hold while a cybersecurity review of its data practices was conducted.

Soon after, the CAC launched an investigation into Didi over its collection and use of personal data. It said data had been collected illegally and ordered app stores to remove 25 mobile apps operated by Didi.

Didi responded at the time by saying it had stopped registering new users and would make changes to comply with rules on national security and personal data usage and would protect users’ rights.

As of Wednesday’s close, Didi’s shares have fallen 42% to$8.11 since it went public in June.

It comes after Didi pressed ahead with its New York listing in June, even though the regulator had urged the company to put it on hold while a cybersecurity review was underway.

Didi has not responded to the recent claims.

Related Topics:

Costa is a news producer at ticker NEWS. He has previously worked as a regional journalist at the Southern Highlands Express newspaper. He also has several years' experience in the fire and emergency services sector, where he has worked with researchers, policymakers and local communities. He has also worked at the Seven Network during their Olympic Games coverage and in the ABC Melbourne newsroom. He also holds a Bachelor of Arts (Professional), with expertise in journalism, politics and international relations. His other interests include colonial legacies in the Pacific, counter-terrorism, aviation and travel.

Continue Reading

Money

Biden is “discussing” support for Israel over Iran oil strike

Published

9 hours ago

on

October 4, 2024

By

The Biden administration believes it’s still “appropriate” for Israel to continue its ground and air attacks on Hezbollah.

The Middle East is a tinder box as Israel retaliates to Iran’s bombing earlier this week as well as fighting Hamas, Hezbollah and the Houthis in Gaza, Lebanon and Yemen. But what are the economic and geo-political implications? #featured #trending

Continue Reading

Money

Defence shares rise to record high following Middle East attacks

Published

2 days ago

on

October 2, 2024

By

Stocks retreated Tuesday, with rising tensions in the Middle East cooling investor momentum after a strong quarter.

Oil prices eased and stocks recovered some ground after initial reports, as hopes grew that damage from the attack and any Israeli response would remain limited.

This market drop underscores the delicate balance between geopolitical risk and economic optimism. #featured #trending

Continue Reading

Leaders

U.S. Feds in no ‘hurry’ to cut rates as confidence in economy grows

Published

3 days ago

on

October 1, 2024

By

Fed Reserve Chair Jerome Powell indicated the U.S. central bank was not “in a hurry” after new data boosted confidence in ongoing economic growth and consumer spending.

Fed Chair Jerome Powell says “disinflation has been broad-based,” and recent data suggests progress towards the Fed’s 2% inflation target.

Powell says the Fed is not rushing to lower rates but will make decisions based on how the economy evolves.

When asked about rate cuts, Powell says it’s a process that will “play out over time,” signalling a steady but cautious approach. #featured #trending

Continue Reading

Trending Now