Despite iQiyi Denial, Is Baidu Set to Roll Credits on Its Video Affiliate?

Baidu is rumored to be seeking to sell its controlling stake in iQiyi, a video platform dubbed “China’s Netflix”. The report was denied by iQiyi, but Baidu’s silence is stoking market speculation Key Takeaways: A Reuters report says search engine giant Baidu is considering selling the recently profitable iQiyi platform with a target price of $7 billion iQiyi denied the report. But it could make sense for Baidu to divest from video streaming to sharpen its focus on cloud services, AI and self-driving products By Fai Pui Just as the video…

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FAST NEWS: TuSimple Announces Management Changes In Preparation For Commercialization

The latest: Autonomous truck company TuSimple Holdings Inc. (TSP.US) announced Tuesday that Chief Financial Officer Patrick Dillon will leave the group to pursue other opportunities. Eric Tapia, its global controller and principal accounting officer, will temporarily take on the role of the while the company carries out a search for a new CFO. In addition, the company has added two new management positions, as Ersin Yumer will be promoted to executive vice president of operations and Lei Wang will be promoted to executive vice president of technology. Looking up: TuSimple is reconfirming it…

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ZhongAn Moves Further Out of Parental Shadow as Tencent Cuts Stake

Two of the digital insurer’s three big-name parents have trimmed their stakes recently, highlighting the need for company to grow independently Key takeaways: •      Tencent reduced its stake in ZhongAn to about 8% from 10%, less than six months after Alibaba-affiliated Ant Group also cut its stake in the online insurer •      ZhongAn’s net profit more than doubled last year, as reliance on its parents for business has decreased By Warren Yang By accident or design, it’s about time for ZhongAn Online P&C Insurance Co. Ltd. (6060.HK) to shine on…

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