China

Rhino crash electric vehicle – The Wall Street Journal

A review of electric car startups has been advertised in recent years and has garnered billions of dollars in valuations — Rivian and NikolaAnd KanoAnd Lordstown, FiskerAnd Workhorse groupAnd Mullen Cars and Lucid. Most of them did not sell a single car in their public appearances. Driven by cheap credit and political subsidies, their stocks …

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Tencent profits halve due to security crackdown and Covid-19 virus | Financial Market News

China’s Tencent said Wednesday that its quarterly profit has halved from a year ago and revenue is stagnant, blaming cuts in advertising spending by consumers, e-commerce and travel for its worst performance since it went public in 2004. The operator of the WeChat messaging platform and the world’s largest video game company said ad sales …

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