FirstFT: Tencent imposes restrictions on children’s games

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Tencent Announce new restrictions After the Chinese internet group came under heavy pressure from state media, it called gambling “mental opium” for the length of time minors could play games online.

In a social media post, the company said it would implement measures after “authorities” demanded greater protection for minors in games and businesses to exercise their “social responsibility.”

Tencent’s stake, which generated RMB 39.1 billion ($ 6 billion) in the first quarter and accounted for 30% of total revenue, fell 10.8% in Hong Kong, then cut losses at nearly 6.6%. I did. .. This caused stock prices to fall by almost a quarter last month. The company’s market value was reduced by $ 400 billion from its January high.

New volatility has emerged after Chinese tech stocks recorded the worst month since the global financial crisis in July following unprecedented regulatory campaigns on tech sectors such as education, ridesharing and social media.

  • Other places of Chinese technology: Alibaba e-commerce group also reported Slow growth Analysts lost hope in the second quarter as core online sales slumped and stocks were affected by China’s tightly regulated environment. Register now for us newsletter #techft last.

5 other articles in the news

1. Report found woman sexually harassed by New York governor Andrew Cuomo violated federal and state laws. Sexual harassment for many women, The successful survey has ended. State Attorney General Letitia James, who appointed an investigator, said the investigation revealed a “very disturbing but clear situation” in the toxic workplace. President Joe Biden called on his former ally, Cuomo, to: Resignation.. (FT, AP)

2. Singapore grants first crypto license The city-state is set to Give regulatory consent For the first time on a crypto exchange, as it will be an important battleground for the digital asset industry to attract watchdogs to its global financial hub.

  • Other crypto news: U.S. Securities and Exchange Commission Chairman Seeks New Authority To Protect Investors Wild West cryptocurrency market… Meanwhile, the IMF cautions against the use of crypto as follows: Legal tender Prior to El Salvador plans to do so from September.

3. Pakistan complains about Washington’s cold shoulders Pakistan’s national security adviser is US President Joe Biden Lack of contact with Prime Minister Imran Khan As Washington seeks help to prevent the Taliban from hijacking Afghanistan after US troops withdraw.

“If the phone is a concession, if the security relationship is a concession, Pakistan has options,” Pakistan’s national security adviser Moeed Yusuf told the Financial Times. interview At the Pakistani Embassy in Washington.

4. Missing Belarusian activist found hanged in Kiev park VitalyShishov found Hanging from a tree Near his home in Ukraine on Tuesday. Local police said his death could have passed for suicide. Earlier this week Belarusian opposition leader Subiatrana Chikanoskaya moved west Strengthen the sanctions Pressure President Alexander Lukashenko to restore democracy and end the escalation of repression.

5. Bolsonaro investigated for allegations of fraudulent elections Brazilian President Jair Bolsonaro’s legal cases doubled after court The investigation has started His baseless warning about fraud in next year’s presidential election has led to an investigation that could lead to his disqualification.

Summary of the Tokyo Olympics

Simone Biles wins bronze medal in gymnastics on balance beam © TATYANA ZENKOVICH / EPA-EFE / Shutterstock

  • Simone Bilès Won bronze medal A week after retiring from several beam competitions to focus on her sanity.

  • Karsten Warholm broken His own world record In the best men’s 400-meter hurdles of all time.

  • Game We are approaching the biggest sporting event in the world. We may see someday Appropriate Olympic Video Games..

  • NOT. International Olympic Committee To have The investigation has started He joined the Belarusian Olympic Commission after sprinter Chris Zina Zimanoskaya accused his country’s authorities of trying to force her out of Tokyo.

addition ‘Tokyo Olympics” To myFT for all game coverage, and ours “Alternative medal table”..

Coronavirus digest

  • New York City Will be Proof of vaccination required Mayor Bill de Blasio announced a variety of indoor activities on Tuesday, from dining to health clubs and concerts.

  • Chinese The authorities believe Main transmission chain The country’s recent outbreak is due to contaminated planes from Russia.

  • NOT. White House Will be announced New moratorium on evictions After the previous ban on eviction of peasants expired over the weekend.

  • NOT. IMF Agree with 650 billion dollars Allocation of special drawing rights to boost pandemic-related finances in low- and middle-income countries. (FT, Reuters)

Register now for us Coronavirus Business Update Follow the newsletter and the latest trends Our live blog.

The day before

Service PMI data China, Eurozone, France, Germany, India, Japan, United Kingdom, United States report buyers index today.. The sharp increase in manufacturing and services data in July provides further insight into the health of the recovery from the Covid-19 crisis.

Profits of Japanese companies Automakers Toyota and Honda, which are big days for Japanese corporate profits, are releasing their first quarter results today in addition to those of Sony and Softbank. Wednesday catch-up Complete list of company profits..

1st anniversary of the explosion of the port of Beirut August 4 marks the year following the explosion in Lebanon, which killed at least 220 people. Earlier this month, Middle East correspondent Chloe Cornish was in the country Year of hell..

Families of the blast victims will demonstrate outside the residence of Lebanon’s interior minister this month © AFP / Getty Images

What else are you reading

Conditions for large-scale financing in China The country is the world’s largest lender to the government. Between 2008 and 2019, the China Development Bank and the China Export-Import Bank lent $ 462 billion. However, the terms of these loans to sovereign borrowers are secretly hidden. until now.

Don’t be optimistic about the population decline You may find that the effects of a pandemic on reproduction are instantaneous. But he focused on the long-term decline in the number of babies whose wives are almost everywhere, Sara O’Connor writes..

Goldman Sachs is hitting billions of dollars through companies wanting to contract Banks achieved record wealth management returns in the previous quarter, thanks to the Wall Street group’s capital investment activity. But instead of expanding, Goldman Make your business smaller To appeal to regulators and investors.

Is Joe Biden’s Presidency Vulnerable to Inflation? The resumption of the pandemic in the United States has been very active after Joe Biden approved $ 1,400 in direct payments to low- and middle-income households, and vaccinations prompted the lifting of restrictions and spikes in spending. The only otherwise encouraging image spot: higher than expected inflation..

‘It’s summer vacation season About four years after being attacked by Hurricane Irma on Necker Island, Sir Richard Branson’s 74-acre private oasis CV to guest.. Meanwhile, James Max asks if he owns a villa. Is it worth it.. Maybe going to someone else’s private island is worth it.

View of Necker Island

View of Necker Island

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FirstFT: Tencent imposes restrictions on children’s games FirstFT: Tencent imposes restrictions on children’s games

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