China’s NetEase targets global expansion with $2.6 billion HK listing

HONG KONG (Reuters) – Chinese online gaming firm NetEase plans to raise about $2.6 billion to fund expansion through its secondary listing which began on Monday, a term sheet seen by Reuters showed, marking Hong Kong’s largest equity deal so far this year.

Nasdaq-listed NetEase’s paperless offering is expected to be one of several large secondary deals in Hong Kong this year, after Washington questioned whether Chinese companies should be able to list in New York as tensions with Beijing rise.

According to the term sheet, NetEase plans to sell 171.48 million primary shares in the float, 5.15 million shares or 3% of which will be sold to retail investors. It has set a maximum price of HK$126 ($16.26) for the retail tranche.

It will become only the second company to launch a secondary listing in Hong Kong, following Alibaba in 2019, under a rule change that finally allowed U.S.-listed

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Facebook, Snapchat join chorus of companies condemning George Floyd death, racism

(Reuters) – Facebook Inc and Snap Inc became the latest U.S. companies condemning racial inequality in the United States as violent protests flared up across major cities over the death of George Floyd, an unarmed black man who died while in police custody in Minneapolis last week.

A pile of burning garbage set by demonstrators is seen during looting after marching against the death in Minneapolis police custody of George Floyd, in the Manhattan borough of New York City, U.S., June 1, 2020. REUTERS/Eduardo Munoz

The two tech companies stood with Intel Corp, Netflix Inc and Nike Inc in taking a public stance against Floyd’s death – voicing concerns about discrimination against African-Americans.

“We stand with the Black community – and all those working towards justice in honor of George Floyd, Breonna Taylor, Ahmaud Arbery and far too many others whose names will not be forgotten,” Facebook’s Chief Executive Officer

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Facebook’s Zuckerberg faces employee blowback over ruling on Trump comments

(Reuters) – Facebook employees critical of CEO Mark Zuckerberg’s decision not to remove an inflammatory comment from U.S. President Donald Trump took their dissent public over the weekend on Twitter, praising the rival social media firm for taking action and rebuking their own employer.

FILE PHOTO: Facebook Chairman and CEO Mark Zuckerberg testifies at a House Financial Services Committee hearing in Washington, U.S., October 23, 2019. REUTERS/Erin Scott

Many tech workers at companies including Facebook, Google and Amazon have become active on social justice issues in recent years and urged their employers take action and change policies.

Still, the criticism of Zuckerberg marked a rare case of high-level employees publicly taking their own CEO to task, with at least three of the seven critical posts seen by Reuters coming from people who identified themselves as senior managers.

“Mark is wrong, and I will endeavor in the loudest possible way to

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Trump’s social media regulation push faces key hurdle at the FCC

WASHINGTON (Reuters) – U.S. President Donald Trump’s effort to regulate social media companies’ content decisions may face an uphill battle from regulators who have previously said they cannot oversee the conduct of internet firms.

FILE PHOTO: Facebook, Google and Twitter logos are seen in this combination photo from Reuters files. REUTERS/File Photos/File Photo

Federal Communications Commission (FCC) chairman Ajit Pai did not endorse Trump’s proposal on Thursday but said in a written statement “this debate is an important one” and added the FCC “will carefully review any petition for rulemaking.”

In August 2018, Pai said he hoped social media companies would embrace free speech but did not see a role for the FCC to regulate websites like Facebook, Alphabet’s Google and Twitter.

“They are not going to be regulated in terms of free speech,” Pai said at a forum. “The government is not here to regulate these platforms. We don’t

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