Jeff Mason is a White House Correspondent for Reuters and the 2016-2017 president of the White House Correspondents’ Association. He was the lead Reuters correspondent for President Barack Obama's 2012 campaign and interviewed the president at the White House in 2015. Jeff has been based in Washington since 2008, when he covered the historic race between Obama, Hillary Clinton and John McCain. Jeff started his career in Frankfurt, Germany, where he covered the airline industry before moving to Brussels, Belgium, where he covered the European Union. He is a Colorado native, proud graduate of Northwestern University and former Fulbright scholar.
Twitter handle: @jeffmason1
HONG KONG (Reuters Breakingviews) - India will test Xiaomi's two-pronged strategy. The Chinese group is known for selling affordable smartphones but even a scaled-down valuation target for its initial public offering hangs on success in more profitable internet services such as music and video streaming. Xiaomi is rolling these offerings out in its top overseas market, but may struggle to make an impact.
HONG KONG (Reuters Breakingviews) - Xiaomi's initial public offering escalates the battle of the bourses. The smartphone-maker originally filed to list in Hong Kong. On Thursday, the Beijing-based company said it will sell at least half of its expected $10 billion initial public offering across the border in Shanghai. This is a blow to the former British colony which only recently changed its rules to woo more tech listings.
HONG KONG (Reuters Breakingviews) - ZTE is back to life, but faces a tough rehab. The Chinese telecommunications company lost nearly $3 billion in market value after its reprieve from a death sentence imposed by the Trump administration. That suggests concerns about a clean management sweep. If, however, ZTE can find decent leadership and stay out of trouble – big ifs, for sure – a 5G rollout holds real promise.
HONG KONG (Reuters Breakingviews) - For Xiaomi to dial up a $75 billion valuation requires a bold call. The Chinese company would have to deliver another year of huge growth. Superior profit margins and premium multiples also must be assumed, a Breakingviews calculator shows.
HONG KONG (Reuters Breakingviews) - China's near-$50 billion bid for market calm might backfire. The securities regulator last week approved six new funds that will guarantee demand for a string of big tech listings, while locking up backers' money for three long years. The intention is probably to dampen a frothy market, but there could be unintended consequences: thinly traded stocks that are, in fact, more volatile and fund investors who might end up regretting being trapped.
HONG KONG (Reuters Breakingviews) - Ant Financial’s $14 billion haul epitomises private-capital excess. The eye-popping funding by the Chinese fintech group, unveiled on Friday, cements a $150 billion valuation. It has raised nearly as much as Facebook and General Motors did in their initial public offerings, even with tech valuations cooling and regulatory risks looming for Jack Ma’s firm.
HONG KONG (Reuters Breakingviews) - Alibaba's delivery route is missing a few turns. The e-commerce titan is leading a $1.4 billion investment into China's top courier service, ZTO Express. It's the latest move in a scattershot approach to logistics and it isn't clear how the pieces fit together into a cohesive strategy.
HONG KONG (Reuters Breakingviews) - Ant Financial walks like a bank and quacks like one, too. As it lines up new investors ready to value it at some $150 billion, the Alibaba-affiliated outfit is flipping the fintech pitch and describing itself instead as techfin. Ant Financial has become part of the fabric of Chinese finance, though. Beijing would be wise to regulate accordingly.
HONG KONG (Reuters Breakingviews) - Xiaomi just won tech IPO bingo. On its way to a potential $100 billion Hong Kong market debut, the Chinese company that derives most of its revenue from smartphones insists that it is "more than a hardware company." It also has packed its prospectus with all the buzziest of buzzwords, established super-voting stock and comes with its own internal venture-capital-style outfit. Bonus points accrue for "artisanal craftsmanship."
HONG KONG (Reuters Breakingviews) - Baidu's revival is accelerating China's AI race. Quarterly earnings at China's search giant topped $1 billion, trouncing expectations. Sales at its listed video arm, iQiyi, also jumped. Baidu may have been eclipsed by rivals like Alibaba, yet progress in autonomous driving is giving it an early lead in tech's next battlefield.