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Chinese Tech

All articles tagged with #chinese tech

Polestar Banned in U.S. as Volvo Continues, Prompting Regulatory Confusion
business3 hours ago

Polestar Banned in U.S. as Volvo Continues, Prompting Regulatory Confusion

Polestar remains barred from selling cars in the United States amid a broader crackdown on Chinese vehicle tech, while its sister company Volvo is allowed to operate with largely identical models and software. Polestar says it does not understand the basis for the denial, noting that Volvo received approval first, and that negotiations included potential mitigations. The decision has spurred questions from dealers, including a lawsuit seeking damages, and Polestar is shifting its focus to Europe as Volvo continues in the U.S. The situation has critics calling the treatment “contrary to law.”

Alibaba to Raise $4.5B via Convertible Bonds, Shares Drop 5%
business2 years ago

Alibaba to Raise $4.5B via Convertible Bonds, Shares Drop 5%

Alibaba Group Holding Ltd. has issued $4.5 billion in convertible bonds, marking the largest dollar-denominated sale by an Asian company. The funds will be used for share buybacks and investments in core businesses, including artificial intelligence. The bonds, due 2031, were priced with a 0.5% coupon and a 30% conversion premium, and the deal was significantly oversubscribed. This move comes as Alibaba seeks to capitalize on favorable financing conditions and a rally in its shares, while also addressing market share losses in its core and cloud businesses.

Alibaba to Raise $4.5B via Convertible Bonds for Buybacks
business2 years ago

Alibaba to Raise $4.5B via Convertible Bonds for Buybacks

Alibaba Group Holding Ltd. has issued a record $4.5 billion in convertible bonds to fund share buybacks and invest in areas like artificial intelligence. The bonds, due 2031, were priced with a 0.5% coupon and a 30% conversion premium, and were six times oversubscribed. This move allows Alibaba to take advantage of low financing costs and a rally in its shares, while signaling that the company views its stock as undervalued. The funds will also support Alibaba's core businesses and cloud services, which have faced market share losses due to regulatory crackdowns and internal challenges.

Montana on the Verge of Banning TikTok Completely.
technology3 years ago

Montana on the Verge of Banning TikTok Completely.

Montana lawmakers are expected to vote on a bill that would ban TikTok from operating in the state, making it the first state to do so. The bill, which has backing from the state's GOP-controlled legislature, is more sweeping than bans in place in nearly half the states and the U.S. federal government that prohibit TikTok on government devices. TikTok, which is owned by the Chinese tech company ByteDance, has been under intense scrutiny over concerns it could hand over user data to the Chinese government or push pro-Beijing propaganda and misinformation on the forum.