What ’ s its story ?

The company is behind more than 20 million daily rides and part of Didi Global , which last week floated on the New York Stock Exchange . But then the Cyberspace Administration of China ( CAC ) announced it was investigating . After two days it was charged with illegally collecting users ’ personal data and the app banned .

What happened to its shares ?

They plummeted by more than 20 per cent . It was the second biggest US IPO for a Chinese company , raising $ 4.4 billion . The company ’ s market value fell by c .$ 15 billion . Two lawsuits have been filed in the US , one in LA , the other in New York , with underwriters Goldman Sachs , Morgan Stanley and JPMorgan Chase named as defendants .

Is it Didi Global ’ s fault ?

Possibly , but there is talk China penalises headline companies listing shares overseas . The evidence is anecdotal , but truck-hailing firm Full Truck Alliance and recruitment service Kanzhun have also seen shares fall . Both are listed in the US .

� WHICH ? Consumer watchdog Which ? has found branded printer ink remains " staggeringly " more expensive than thirdparty alternatives . In some cases it is pricier than some champagnes , its survey found . But nonbranded ink cartridges perform as well or better than alternatives .

� TESLA Tesla has reported surging profits , despite shortages of semiconductor chips and congestion at ports hampering production . Sales rose to $ 12bn (£ 8.6bn ) in the three months to the end of June , up from $ 6bn a year ago .

� CHINESE EDTECH Shares in Chinese online tutoring firms have slumped after Beijing stripped them of the ability to make a profit from teaching core subjects . The new guidelines also restrict foreign investment in the industry .

� TENCENT Shares in Tencent fell after China ordered it to end exclusive licensing deals with global record labels . It ’ s aimed at tackling the company ' s dominance of online music streaming . It was fined 500,000 yuan (£ 56,000 ; $ 77,120 ).

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