News Snapshot:
REUTERS: Chinese social networking platform JOYY Inc said on Thursday that a report by short seller Muddy Waters contained numerous errors and that it was open to cash verification conducted by competent third-party advisers. JOYY also said it will continue with its US$300 million share repurchase program to demonstrate confidence in its long-term prospects. Muddy Waters on Wednesday called JOYY a "multibillion-dollar fraud" and decided to bet against its stock, just days after Chinese search engine giant Baidu Inc struck a deal to buy JOYY's domestic streaming platform. "We conclude that YY's component businesses are a fraction of the size...
