Tag: Regulators
Written by Linda D. MohlerFebruary 21, 2022
Meituan Loses $26B as Chinese Regulators Step In
Food & Cooking News Article
Meituan, the Chinese food delivery company, lost $26 billion in value as of Friday after regulators wanted to lower fees food platforms are charging restaurants, Financial Times says. The crackdown comes as China has had numerous government restrictions on the tech sector, mostly intended to rein in tech companies. The announcement came as agencies were
Written by Linda D. MohlerJuly 30, 2021
US regulators step up scrutiny of IPO hopefuls from China
Food & Cooking News Article
NEW YORK (AP) — Chinese companies hoping to sell their shares in the United States must start making more disclosures about their potential risks before U.S. regulators will allow them to list their stock. The Securities and Exchange Commission announced the move Friday after Beijing said it would step up its supervision of Chinese companies
Written by Linda D. MohlerMay 31, 2021
Meituan Surges 10% as CEO Addresses Regulators’ Antitrust Concerns
Food & Cooking News Article
Chinese food-delivery giant Meituan’s shares jumped more than 10% after Chief Executive Officer Wang Xing unveiled better-than-expected financial results and detailed plans to address government concerns about its business practices. Shares surged after the company’s first-quarter revenue more than doubled from the year-earlier period, and Xing said the company is working with regulators to make