FAST NEWS: New Oriental Suspends K-9 Curriculum-Based Classes, Sees Revenue Hit Up to 60%

The latest: Educational services provider New Oriental Education & Technology Group Inc. (9901.HK; EDU.US) announced plans to terminate its primary school curriculum-based tutoring services for students from kindergarten to 9th grade in all of its learning centers nationwide by the end of this year. Looking up: The move will put the company in compliance with new regulatory steps to rein in the after-school tutoring business, which will reduce the risk of future policy supervision. The company will use the pivot to explore new business opportunities such as test preparation and adult language…

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Hello Bike Back in Fundraising Fast Lane After Failed IPO Attempt

Shared bike operator raises $280 million from Alibaba and CATL, as it moves focus to becoming electric vehicle specialist Key points: Hello Inc. has raised a fresh $280 million from Alibaba and CATL, bringing its total fundraising this year to $500 million Fundraising follows failed U.S. IPO attempt earlier this year, and comes as company adds electric vehicle manufacturing and batter swapping services to its portfolio  By Doug Young Shared bike operator Hello Inc. may have said “goodbye” to Wall Street earlier this year, when it abruptly pulled its planned…

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Tagging Facebook, Chat Operator Yalla Discloses New ‘Metaverse’ App

Social media company likened to ‘Clubhouse of the Middle East’ said it could launch its ‘cutting-edge social app’ as soon as the first quarter of 2022 Key Takeaways: Yalla discloses it is working on a cutting-edge ‘social metaverse’ app that could launch as soon as early 2022 Company makes announcement as it reports its revenue and profit doubled in this year’s third quarter, sparking a rally for its shares By Doug Young It’s been a roller coaster ride for Yalla Group Ltd. (YALA.US) in the year since the audio chat…

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