This week marked perhaps the biggest victory on record for China-focused short-sellers, as the harpoons that Citron Research et al have been flinging at Longtop Financial finally brought the beast down. This was no small-cap reverse-merger fraud: The financial software behemoth had a market cap of more than US$1 billion before trading in its shares […]
Category: Tech, Media & Telecom
Sean Maloney, a well-known executive vice president at Intel (INTC.NYSE), will move to China to assume the new position of chairman for Intel China, Bloomberg reported. The new position is widely seen as a signal of Intel’s focus on the China market, which it says will become the world’s biggest personal computer market in 2012. “It’s an […]
China Unicom (Hong Kong; CHU.NYSE, 600050.NYSE, 0762.HK), the country’s second-largest mobile phone operator, said Friday that a national audit of the company conducted last year found improper accounting practices and other inadequacies in certain transactions, Dow Jones reported. The company said in a statement that some of the issues uncovered by the National Audit Office involved […]
China Mobile is on the lookout for acquisition opportunities in emerging markets such as Myanmar, highlighting its ambitions to expand overseas, Reuters reported, citing the company’s chairman, Wang Jianzhou. The world’s largest mobile operator by market value invested about US$300 million last year in Pakistan, a country with a booming telecom sector boasting approximately 100 […]
Baidu (BIDU.NASDAQ), China’s biggest search engine, was sued by eight New York residents who claim the company helps the government censor pro-democracy sentiment, Bloomberg reported. The plaintiffs charge Baidu and the Chinese government of censoring and banning their “writings, publications and coverage of pro-democracy events” from the search engine and seek US$16 million in damages, […]