There’s a rare moment of cheer for floundering electric car maker Faraday Future after it landed a new investor and a fresh commitment of capital. Evergrande Health, a division of Hong Kong-listed Evergrande, has taken a 45 percent stake in Faraday Future in a deal worth a total of $2 billion. Evergrande Health has taken over an […]
View More Beleaguered electric vehicle firm Faraday Future gets $2B investment boostCategory: LeEco
Leshi Internet says it must repay $890 million in debts by the end of 2018
Leshi Internet, one of China’s largest video-streaming services, disclosed that it must pay back 5.62 billion RMB (about $890 million) by the end of this year. Leshi Internet’s (also known as Le.com) heavy debts stem from a financial crisis at its sister company LeEco, both of which were founded by Jia Yueting. Jia resigned as Leshi Internet’s chief executive officer last year. Read More
HQ Trivia Is Coming to Android | Crunch Report
HQ Trivia is coming to Android, Amazon Echo is the No. 1 best seller on the site and the founder of LeEco is ordered to return to China. All this on Crunch Report. Read More
View More HQ Trivia Is Coming to Android | Crunch ReportDebt-laden tech firm LeEco’s founder ordered to return to China by securities commission
The founder of beleaguered tech conglomerate LeEco is facing yet another huge headache. Jia Yueting has been ordered by the China Securities Regulatory Commission’s Beijing branch to return to the country by the end of this month and deal with the company’s debts. In an unusual public letter posted Monday, the CSRC said Jia’s failure to repay debts is “a serious… Read More