Reuters
China’s largest online audio platform, Ximalaya (喜馬拉雅), on Thursday said it would not proceed with its plans for an initial public offering (IPO) in the US.
The move comes after Reuters reported in May that China was pressing Ximalaya to drop its plans to list in the US and go for Hong Kong instead, showing how authorities are seeking to further tighten their grip over private media and Internet businesses.
Medical data group LinkDoc Technology Ltd (零氪科技) in July was the first Chinese company to shelve an IPO in the US due to Beijing’s clampdown on overseas listings by domestic firms.
Ximalaya, backed by China’s Tencent Holdings, had filed for an IPO in April.
Chinese and US regulators have been tightening their grip on US listings of Chinese tech firms over the past few months.
Last month, Reuters reported that China was framing rules to ban Internet companies whose data poses potential security risks from listing outside the country.
The US Securities and Exchange Commission also began issuing new disclosure requirements to Chinese companies that are looking to list in New York, in an effort to boost investor awareness on the risks involved, Reuters reported last month.
In Italy’s storied gold-making hubs, jewelers are reworking their designs to trim gold content as they race to blunt the effect of record prices and appeal to shoppers watching their budgets. Gold prices hit a record high on Thursday, surging near US$5,600 an ounce, more than double a year ago as geopolitical concerns and jitters over trade pushed investors toward the safe-haven asset. The rally is putting undue pressure on small artisans as they face mounting demands from customers, including international brands, to produce cheaper items, from signature pieces to wedding rings, according to interviews with four independent jewelers in Italy’s main
Japanese Prime Minister Sanae Takaichi has talked up the benefits of a weaker yen in a campaign speech, adopting a tone at odds with her finance ministry, which has refused to rule out any options to counter excessive foreign exchange volatility. Takaichi later softened her stance, saying she did not have a preference for the yen’s direction. “People say the weak yen is bad right now, but for export industries, it’s a major opportunity,” Takaichi said on Saturday at a rally for Liberal Democratic Party candidate Daishiro Yamagiwa in Kanagawa Prefecture ahead of a snap election on Sunday. “Whether it’s selling food or
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The global server market is expected to grow 12.8 percent annually this year, with artificial intelligence (AI) servers projected to account for 16.5 percent, driven by continued investment in AI infrastructure by major cloud service providers (CSPs), market researcher TrendForce Corp (集邦科技) said yesterday. Global AI server shipments this year are expected to increase 28 percent year-on-year to more than 2.7 million units, driven by sustained demand from CSPs and government sovereign cloud projects, TrendForce analyst Frank Kung (龔明德) told the Taipei Times. Demand for GPU-based AI servers, including Nvidia Corp’s GB and Vera Rubin rack systems, is expected to remain high,
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