Tencent Music announced a $1 billion share buyback after its shares were among the Chinese tech stocks hit in the fallout from the liquidation of massive positions held by hedge fund Archegos Capital, Bloomberg reported. Other shares included Vipshop, Chinese video streaming service iQiyi and online education app GSX Techedum. Tencent Music pared its losses after the buyback announcement....
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Streaming Services Should Beware Becoming Like Cable Companies
About a month ago, I finally reached my breaking point with YouTube TV, the streaming service I had subscribed to years earlier as a replacement for cable TV. I didn’t think twice about paying $40 a month for it in 2018, but after years of price increases—YouTube TV now costs $73 a month—I realized my family wasn’t watching it nearly enough to justify the money. So I ditched it. More...
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