News Snapshot:
Revenues of Chinese gaming and communications giant Tencent rose three percent in the last three months, according to results published Wednesday, as Beijing cracks down on tech giants and the country’s mammoth gaming industry. China’s heavy-handed regulation of the tech and video gaming sectors in recent months has hit industry heavyweights with bumper fines and sweeping restrictions. Tencent revenues rose to 142.4 billion yuan ($22.3 billion) for the three months ending in September, as the owner of social media staple WeChat navigated headwinds that have shaken the industry. Revenue was up a slower-than-expected 13 percent year-on-year—growth which Bloomberg said was...
