The company's purchase of Vizio was a little odd to begin with.
LeEco has tried make a big splash with its debut in the US. For Vizio, the company will have to figure out what "life after LeEco" looks like. The deal was first announced last summer during an extensive press event, but eventually, things fell through and the deal couldn't be progressed. LeEco was to acquire 49% of Vizio for $2 million, a deal quickly slowed down by Chinese domestic restrictions regarding the "movement of capital".
Hong Kong-listed Sunac (HKSE: 1918-OL.HK - news) said it would plough 15.04 billion yuan into the sprawling LeEco empire, which has interests in various sectors including self-driving cars, smartphones, film making, and TV-set manufacturing. LeEco originally meant to build office space for 12,000 employees on a 49-acre property it acquired from Yahoo in 2016. In March, the company sold property it bought in Silicon Valley after owning it for less than a year. That said, it's also true that LeEco as a company is in the midst of a cash crunch.
KFC commits to chicken without human antibiotics
While several fast food restaurants have agreed to use antibiotic-free chicken, it has largely been limited to boneless chicken. Tapping into widespread consumer demand for meat raised without antibiotics, NRDC and allied groups- U.S.
Israeli soldier killed in vehicle ramming attack
Witnesses told Israeli media that as he approached a bus stop, he accelerated and aimed the vehicle at two Israelis waiting there. According to the Israeli daily Ha'aretz, the vehicle had a Palestinian license plate.
In 2016, LeEco even poached Google's lead legal counsel, Joshua McGuire, giving him the title of "Vice President and General Counsel". According to LeEco, "regulatory headwinds" are to blame, but that's likely only a portion of the fundamental problems facing LeEco at this time.
There has been some good news for LeEco, though. But since then, Le Eco's financial situation has worsened, as the company raised $2.2 billion from a real estate tycoon in January to keep the business afloat amid a cash crunch. In a message from LeEco today we're to understand that the merger agreement will not be moving forward "due to regulatory headwinds".
Apr 10 2017 SNL spoofs now infamous Kendall Jenner, Pepsi commercial
Louis, been in the street tear gassed so many places and what is real a can of Pepsi would not change that", he says. Pepsi recently pulled their latest commercial after people criticized it for making light of a serious issue.
Apr 10 2017 UFC fight temporarily put in limbo by breast implant rule
The strawweight fighter began her career with a loss in February 2012, but won her next six fights prior to UFC 210. UFC president Dana White also took to Twitter on Friday afternoon to confirm the fight will take place as planned.
Apr 09 2017 Chelsea in champion form at Bournemouth, Spurs chase hard
Chelsea seemed to be cruising to three points, but Joshua King pulled one back with a deflected strike before half time. Daniels' cross from the left is met by Afobe by the penalty spot and he sends a volley crashing off the far post.
Apr 09 2017 Uber says never used Waymo files on self-driving
The problem about this is, at that time, Levandowski was still under the employment contract of Waymo . Right? I have to make sure that I'm ready when it's ready or that I'm making it ready.
Apr 08 2017 4 killed in Stockholm truck attack described as terrorism
The vehicle bomb never went off and after setting fire to the Audi, he was unable to detonate the other two explosives as planned. A spokeswoman for beer company Spendrups told AFP that the truck involved "had been stolen during a delivery to a restaurant".
Apr 08 2017 These At-Home DNA Tests Are Now FDA-Approved
But it cautioned that genetic risk is just one piece of information and does not mean they will or won't eventually get a disease. While approving consumer use, FDA did establish criteria for expectations in tests' accuracy, reliability and clinical relevance.