10.21.21 What else we’re reading
Business & Technology
- Tencent enters the metaverse: While Facebook reinvents itself with a focus on virtual worlds, Tencent’s gaming division is assembling a new studio across four countries to design its own.
- Digital yuan hits roadblocks: China wants major stores, especially U.S. brands, to accept e-CNY in time for its Winter Olympics — but recent natural disasters causing internet outages have highlighted e-currency’s unreliability.
- China craves U.S. LNG: Pivoting from coal, China has become the world’s top natural gas importer and inked long-term deals with U.S. suppliers; the latest doubles its import volume from the country.
- Evergrande fundraising deals fall through: With just three days to go before the developer defaults on its first offshore bond, two asset sales that would’ve raised $4.3 billion have been suspended.
