The daily business briefing: December 3, 2021

Didi Global says it is delisting from the New York Stock Exchange, Congress passes a deal to avert a government shutdown, and more

The Didi app
The Didi app
(Image credit: WILLIAM WEST/AFP via Getty Images)

1. Didi Global delisting in New York

Chinese ride-hailing company Didi Global said Thursday it planned to delist its shares in the United States and secure a listing in Hong Kong, instead. The decision came five months after the company's debut on the New York Stock Exchange, which raised about $4.4 billion. Chinese authorities had reacted with surprise to the IPO and announced a data-security review. Chinese regulators ordered Didi to remove some of its apps and blocked new users from Didi's China operations. Didi's move to delist in New York, which came as Beijing finished its cybersecurity review, was widely seen as part of ongoing efforts by China and the U.S. to weaken ties between the world's two largest economies.

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.