Market Shakeup: NYSE Backtracks on Chinese Telecom Delisting
The New York Stock Exchange (NYSE) has reversed its controversial decision to delist China’s three major telecom giants—China Mobile, China Unicom, and China Telecom—marking a significant development in US-China financial relations. This pivot comes after the exchange consulted with regulatory authorities regarding a Trump-era executive order restricting investments in companies tied to China’s military-industrial complex.
Why This Reversal Matters
- Regulatory Uncertainty: The NYSE stated it will continue trading the stocks while evaluating the applicability of the executive order
- Symbolic Impact: Only a small fraction of these telecoms’ shares trade in New York, making any delisting largely symbolic
- Geopolitical Tensions: Highlights ongoing friction between US financial regulations and Chinese corporate interests
Tech Industry Highlights
Nintendo’s Strategic Acquisition
In a rare move, Nintendo acquired Next Level Games, the Canadian studio behind the hit Luigi’s Mansion 3. This acquisition signals Nintendo’s intent to strengthen its first-party development capabilities.
Jack Ma’s Mysterious Absence
Alibaba and Ant Group founder Jack Ma continues to fuel speculation with his prolonged absence from public view since October 2020, sparking intense discussion about China’s tech regulatory environment.
Startup Funding Roundup
- Boat Raises $100M: The Indian electronics/lifestyle brand secured funding from Warburg Pincus, reaching a $300M valuation
- Divvy’s $165M Round: The spend management platform’s success highlights growing demand for corporate financial tools
- P&G-Billie Deal Collapses: Procter & Gamble abandoned its acquisition of razor startup Billie following an FTC lawsuit
Cybersecurity Alert
The FBI and NSA confirmed ongoing cyberattacks against US federal agencies are “likely Russian in origin,” compromising at least 10 government entities and several major tech companies.
Smart Home Update
GE’s former smart lighting division, now under Savant ownership, is rebranding and expanding beyond lighting products into broader smart home solutions.
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