Alphabet Chief Financial Officer Ruth Porat on Tuesday said the search engine company would suffer a revenue hit from Russia’s war in Ukraine because it has stopped selling ads in Russia and is likely to feel the pinch of the strengthening dollar. Porat’s comments come as the global financial toll the war is taking becomes more clear, including new records for U.S. gas prices. Some 54% of...
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Chinese Investment Giant Hillhouse Capital Seeks to Expand Outside China
Hillhouse Capital Group, the Chinese sprawling investment powerhouse that has drawn comparisons to Tiger Global Management, has a new challenge: growing outside China. The firm is best known for investments in Chinese tech giants such as Tencent, JD.com, Didi Global and TikTok owner ByteDance. But the devastation of China’s private equity and venture capital sectors, caused by...
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