Two senior members of Congress have called on the Securities and Exchange Commission to investigate whether Didi Chuxing, the Chinese ride-sharing company, misled US investors ahead of its initial public offering last week, reported the Financial Times. The senators, who sit on the powerful Senate banking committee, said they wanted the SEC to examine whether […]
Author: grahamearnshaw
As China Evergrande Group tries to quell concerns about its financial health, the property giant has gone to great lengths to publicize its shrinking debt load, reported Bloomberg. The developer has, however, also been ramping up issuance of short-term IOUs. While not technically classified as debt, Evergrande’s growing reliance on such financing — known in […]
Didihas been accused of misleading investors in two class action lawsuits in the US, with one arguing that the ride-hailing giant did not disclose a warning from China’s internet regulator to delay its New York IPO until it had reviewed its network security, reported Caixin. The claim, which if proven could put the Chinese firm […]
Boris Johnson on Wednesday said the UK government would probe the takeover of the UK’s largest silicon wafer manufacturer by a Chinese-backed company on national security grounds, reported the Financial Times. Newport Wafer Fab, which produces silicon wafers at its plant in south Wales and employs 450 people, was recently purchased by Nexperia, a Netherlands-based […]
Huawei’s chip design arm has struck a deal aimed at building up its domestic supply chain, a local partner said on Tuesday, in a first public move against a US clampdown aimed at cutting its access to vital technology, reported Nikkei Asia. Shenzhen JT Automation Equipment, a Chinese chip production tool maker, on Tuesday said […]