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Stock impact report

NBA Loses More Sponsors as China Flexes Economic Muscle [Yahoo! Finance News]

Luckin Coffee Inc. (LK) 
Last luckin coffee inc. earnings: 11/13 06:00 am Check Earnings Report
NBA Loses More Sponsors as China Flexes Economic Muscle ) -- The National Basketball Association lost almost all of its major Chinese sponsors in the country, the league’s biggest market outside the U.S., as the government flexes its economic muscle after a tweet backing Hong Kong’s protesters triggered a backlash. A local joint venture of Nissan Motor Co. was the latest to distance itself from the U.S. league, joining China’s largest sportswear maker, the second-biggest dairy firm and a smartphone brand who all said they were pulling out. State television CCTV and tech giant Tencent Holdings Ltd. said Tuesday they won’t show NBA’s pre-season games. In the latest China controversy involving the basketball organization, Beijing is resorting to a time-tested strategy of targeting businesses it deems to challenge its political interests -- especially those questioning its sovereignty over certain territories. The furor, triggered by last week’s tweet by an official with the Houston Rocke Show less Read more
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