News Snapshot:
(Bloomberg) -- A Chinese online car-services platform backed by investors including Goldman Sachs Group Inc. and Tencent Holdings Ltd. is shifting its proposed initial public offering to Hong Kong from the U.S., people with knowledge of the matter said. The startup, which is formally known as Shanghai Lantu Information Technology Holding Ltd., is working with China International Capital Corp. and Goldman Sachs on the offering that could raise $300 million to $400 million this year, the people said, asking not to be identified as the information is private. Deliberations are ongoing, and details such as timing and size could change,...
