In a letter to Congress, Facebook says it won't do business in China.Image: Justin Sullivan/Getty Images That’s a thumbs down on China. In a letter to Congress, Facebook said that it would only provide service in China if it was free from government censorship. In other words, as Xi Jinping’s power over the country intensifies, […]
Image: Photo by Wolfram K from Pexels Anyone who regularly reads business news will recognize the Chinese companies consistently making headlines: Alibaba, Baidu, Tencent, and Xiaomi. These companies have established a major role in the global economy. Today, they dominate everything from e-commerce to the Chinese entertainment industry. One of the reasons these organizations have […]
Employees are offering confidential information to sellers, according to report Amazon is investigating claims that employees have taken bribes for leaking confidential sales information, particularly in China, as it the Wall Street Journal reported, citing sellers, brokers and people familiar with internal investigations. The practice violates company policy and is common in China, where the […]
Another day, another political grilling for social media platform giants. The Senate Intelligence Committee’s fourth hearing took place this morning, with Facebook COO Sheryl Sandberg and Twitter CEO Jack Dorsey present to take questions as bearded wiseman CEO Jack Dorsey (whose experimental word of the month appears to be “cadence” — as in he frequently said […]
The Kushners have found their out — and it comes at a price. The family firm of presidential son-in-law Jared Kushner will be relieved of the biggest drag on its real estate empire, will no longer face a $1.2 billion debt payment due in months, will be rid of having to overhaul an aging property. […]
The U.S. said it will begin imposing 25 percent duties on an additional $16 billion in Chinese imports in two weeks, escalating a trade war between the world’s two biggest economies. Customs will begin collecting the duties on 279 product lines, down from 284 items on the initial list, as of Aug. 23, the U.S. […]
China's biotech unicorns are chasing a big prize. Landing it may prove elusive. BeiGene Ltd. raised $903 million in a secondary listing in Hong Kong last week. The company’s market value has swelled to $9.4 billion since its 2016 initial public offering on the Nasdaq, despite the firm being at the “clinical stage”– a euphemism for having sales. Competitor […]
Today’s Agenda Tesla really should just go private. America’s health-care system is at stake in the midterm elections. The Trump administration is blowing its AT&T/Time Warner appeal. Starbucks thinks China will come out of the trade war in good shape. Maybe job tenure shouldn’t just be a thing for college professors. Why the heck not? […]
President Donald Trump and European Commission President Jean-Claude Juncker agreed to suspend new tariffs while negotiating over trade, pulling the U.S. and Europe back from the edge of a transatlantic trade war. The leaders pledged to expand European imports of U.S. liquefied natural gas and soybeans and both vowed to lower industrial tariffs, excluding autos. […]
Few people consider used plastic to be a valuable global commodity. Yet China has imported 106 million tons of old bags, bottles, wrappers and containers worth $57.6 billion since 1992, the first year it disclosed data. So when the country announced last year that it finally had enough of everybody else's junk, governments the world over knew they had a […]