Headlines 

A Great Vehicle Lurks in HyundaisCorporate Chop Shop

Is the tide turning in the favor of activist shareholder Elliott Management Corp. in its drive to clean up the web of more than two dozen auto-related companies at the core of the Hyundai chaebol? On Wednesday, South Korean media reported that the group may cancel a central part of a restructuring plan that’s been opposed by Elliott, in the form of the planned merger between its logistics business Hyundai Glovis Co. and the after-sales division of parts supplier Hyundai Mobis Co. The company batted down the reports but shares in Mobis and…

Read More
Headlines 

China Now Has the Most Valuable AI Startup in the World

SenseTime Group Ltd. has raised $600 million from Alibaba Group Holding Ltd. and other investors at a valuation of more than $3 billion, becoming the world’s most valuable artificial intelligence startup. The company, which specializes in systems that analyze faces and images on an enormous scale, said it closed a Series C round in recent months in which Singaporean state investment firm Temasek Holdings Pte and retailer Suning.com Co. also participated. SenseTime didn’t outline individual investments, but Alibaba was the leader in AI by 2030. And it’s a contributor to…

Read More
Headlines 

Snap Is Looking a Lot Like Twitter After Another Earnings Miss

Snap Inc. went to great disappointing revenue and user growth, in its third-quarter results. Chief Executive Officer Evan Spiegel even highlighted that Snapchat isn’t easy enough for many to use, echoing similar complaints about Twitter. Snap’s surprise disclosure Wednesday morning that Tencent Holdings, China’s biggest instant messaging company, had analysts cut their ratings. Snap has now fallen 25 percent since its March IPO, bringing its market capitalization to within $900 million of Twitter’s. Of course, Snap’s valuation is still richer. Twitter is projected to have about three times the revenue…

Read More