News Snapshot:
NetEase announced early Tuesday morning that it plans to spin off its music streaming business Cloud Village in a $500 million initial public offering (IPO) in the Hong Kong stock exchange. The announcement came as the Chinese tech giant attempted to revive the IPO, after shelving the plan in August but was reportedly delayed due to volatile market conditions. NetEase said the IPO is now back on track. As part of the IPO of which the final price has still not been set, Cloud Village will offer 16 million shares at a price between 190 Hong Kong dollars and 220...
