News Snapshot:
Signage for Tencent Holdings atop an office building in Shanghai, China, on March 22, 2022. China’s Tencent reported on Wednesday its quarterly profit halved from a year ago and revenues stagnated, blaming cuts in advertising spending by consumer, e-commerce and travel businesses for its worst performance since it went public in 2004. Qilai Shen | Bloomberg | Getty Images BEIJING — Chinese tech giant Tencent reported disappointing first quarter revenue across all major business segments, including a hit to mobile pay from Covid lockdowns. Shares of Tencent, the largest Hong Kong-listed Chinese stock by market value, traded nearly 7% lower...
