Latest Business News

• Tesla forms three-member panel to decide on any Musk deal
  Tesla Inc's board named a special committee of three directors on Tuesday to negotiate with Elon Musk on taking the electric carmaker private, although it said it was yet to see a firm offer from the company's chief executive.
  
• From laboratory in far west, China's surveillance state spreads quietly
  Filip Liu, a 31-year-old software developer from Beijing, was traveling in the far western Chinese region of Xinjiang when he was pulled to one side by police as he got off a bus.
  
• Tech still all the rage while bears prowl emerging markets: BAML survey
  Global investors remain overwhelmingly bullish on U.S. and Chinese tech shares, while short positions on emerging equities are growing increasingly popular, Bank of America Merrill Lynch's latest monthly fund manager survey showed on Tuesday.
  



• Tencent games revenue in focus after China blocks "Monster Hunter: World"
  China's Tencent Holdings Ltd saw its stock tumble on Tuesday, wiping out around $15 billion in its market value, amid concern of a blow to its video game revenue after regulators blocked the sale of one of its blockbuster titles.
  
• Australia plans law for tech firms to hand over encrypted private data
  Australia on Tuesday proposed a new law requiring technology firms such as Alphabet Inc's Google, Facebook and Apple to give police access to private encrypted data linked to suspected illegal activities.
  
• NIO seeks to raise $1.8 billion in biggest U.S. listing by China automaker
  Chinese electric vehicle start-up NIO on Monday filed for a $1.8 billion initial public offering of its American depositary shares, the biggest U.S. listing by a Chinese automaker.
  
• Exclusive: Sequoia China to raise $6 billion in new fund with state-owned partner - sources
  Sequoia Capital China is teaming up with a state-owned venture capital (VC) fund and e-commerce powerhouse JD.com to raise up to 40 billion yuan ($5.81 billion) for a new investment firm to focus on late-stage tech investments, sources said.
  
• Foxconn profit below forecast on soaring operating costs, shares fall
  Foxconn posted second-quarter net profit well below expectations as a rise in component costs and unsold inventory weighed on the performance of the Apple supplier and world's top contract electronics maker, analysts said.