Wednesday, November 10, 2021

China's gaming crackdown pushes Tencent to slowest profit growth in two years

Chinese gaming and social media giant Tencent Holdings posted its slowest quarterly profit growth in two years on Wednesday, hurt by a gaming crackdown, and said the outlook for the advertising sector would remain weak into next year. Net profit for the three months through September rose 3% to 39.5 billion yuan ($6.18 billion), the company said in a statement. This beat analyst expectations who were predicting a decline, according to Refinitiv data. https://ift.tt/3knrWOv
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Australia's Senate votes to pass a social media ban for children under 16, brushing aside lawmaker concerns on both sides; tech companies could be fined A$50M (Ben Westcott/Bloomberg)

Ben Westcott / Bloomberg : Australia's Senate votes to pass a social media ban for children under 16, brushing aside lawmaker concern...