Tag: Giant
Written by Linda D. MohlerFebruary 19, 2022
Chinese food delivery giant slumps on new fee-cut measures
Food & Cooking News Article
Food delivery giant Meituan has hundreds of millions of customers in China – Copyright AFP GREG BAKER Shares of Chinese food delivery giant Meituan slumped Friday as Beijing released new guidelines instructing internet platforms to lower fees for struggling eateries. The guidelines, published by China’s top economic planner, aim to support a service sector hit
Written by Linda D. MohlerOctober 18, 2021
This Chinese Tech Giant Just Got a Big-Time Fine, So Why Is Its Stock Skyrocketing?
Food & Cooking News Article
Chinese stocks have sold off en masse since the Spring, but is now the time for aggressive investors to go bargain-hunting in the Middle Kingdom? One indication could be the recent case of Meituan (OTC:MPNGF), the largest food delivery company in China, with businesses in daily deals, hotel bookings, community e-commerce, restaurant software, and grocery
Written by Linda D. MohlerOctober 8, 2021
Chinese Delivery Giant Meituan Handed $527 Million Antitrust Fine | Investing News
Food & Cooking News Article
BEIJING (Reuters) -China’s antitrust regulator has fined food delivery giant Meituan 3.4 billion yuan ($527.4 million) for abusing its dominant market position, the watchdog said on Friday, the latest penalty in Beijing’s clampdown on online platforms. The fine equates to 3% of the company’s domestic sales in 2020, the regulator said, adding that Meituan should
Written by Linda D. MohlerJuly 6, 2021
Chinese Tech Giant Shares Plummet after Chinese Regulatory Crackdown
Food & Cooking News Article
The logo of Didi Chuxing on the wall of its headquarters in Beijing, China, May 18, 2016. (Kim Kyung-Hoon/Reuters) Tech titan Didi Chuxing’s stock shares plummeted more than 20% Tuesday after Chinese regulators ordered its app to be removed from the app store while it conducts a cybersecurity review of the company. Didi is in
Written by Linda D. MohlerJune 30, 2021
Didi, the Chinese Ride-Hailing Giant, Makes Its Debut on Wall Street
Food & Cooking News Article
In April, Didi was one of nearly three dozen Chinese internet companies that were hauled before regulators and ordered to ensure their compliance with antimonopoly rules and to “put the nation’s interests first.” Didi promptly issued a statement, which the antitrust regulator published on its website, vowing to “promote the development and prosperity of socialist