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Leaving China

Leaving China

Saudi-Backed U.K. health app Babylon ends deal with Tencent.

  • Babylon Healthcare has pulled back from China, where it had a partnership with #Tencent’s WeChat, as the company “couldn’t come up with a commercially viable model".
  • Elon Musk’s embrace of #Bitcoin earlier this month rocketed the #cryptocurrency almost 50% higher to more than $58,000, but now it suffers under his cold shoulder.
  • Global #stock markets fell as expectations of faster growth and quickening inflation battered bonds, boosted commodities and led to a further rotation out of big tech names.

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