Alibaba has successfully completed a three-year regulatory “rectification” process following an antitrust fine for monopolistic practices in 2021, as announced by China’s State Administration for Market Regulation (SAMR). This process required Alibaba to align with antitrust regulations, particularly in regard to the “choose one of two” policy that gave the tech giant unfair competitive advantages.
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China’s manufacturing sector experienced a slowdown in August, hitting a six-month low, according to an official factory survey released recently. This decline has raised expectations that policymakers will introduce new strategies to channel more stimulus towards households rather than infrastructure projects. Manufacturing PMI Decline The official Purchasing Managers’ Index (PMI) dropped to 49.1 in August,
Elon Musk’s artificial intelligence startup, xAI, has been at the center of controversy due to its recent activities in Memphis, Tennessee. The company has come under fire for using natural gas burning turbines at its new data center without obtaining the necessary permits, leading to concerns about pollution and environmental health in the area. The
The collaboration between Volkswagen and Xpeng in the realm of electric cars for the Chinese market has been gaining momentum. With Volkswagen’s $700 million investment in Xpeng to jointly develop two electric cars for delivery in China by 2026, it is evident that both companies are committed to pushing the boundaries of innovation. Xpeng’s co-president
Dallas Mavericks and New Orleans Pelicans fans are eagerly awaiting updates on how they will be able to watch their favorite teams’ local games in the upcoming NBA season. Both teams are making a significant transition by moving away from their regional sports networks owned by Diamond Sports. This shift was detailed in a recent
Recently, it has come to light that Perplexity AI, an artificial intelligence startup, is planning to introduce advertisements on its search app in the upcoming quarter. Despite the company’s increasing popularity and success, it has faced accusations of plagiarizing content from various media outlets, raising concerns about its content acquisition practices. Let’s delve deeper into
Ford Motors recently announced a major shift in its electric vehicle strategy, opting to delay production of a next-generation all-electric pickup truck in Tennessee and cancel plans for a three-row electric SUV. Instead, the company will prioritize the development of hybrid models and electric commercial vehicles, such as a new electric commercial van in 2026,
In a recent development, OpenAI announced a partnership with Condé Nast that will have far-reaching implications for the future of media outlets and content creation. This collaboration will see OpenAI’s advanced AI products, including ChatGPT and SearchGPT, being utilized to display content from a variety of popular media platforms such as Vogue, The New Yorker,
Bank of America’s stock took a hit, falling 2% after Warren Buffett’s Berkshire Hathaway revealed it was further reducing its stake in the bank. This news comes after a 12-day selling streak that started in mid-July, with the conglomerate selling 13.9 million more shares for $550.7 million over the past three trading days. Berkshire’s stake
The commodity market hit a new high in Monday’s trading session, reaching $2,549.90. This performance marks an increase in value for 8 out of the last 9 trading sessions. Gold has surged by 4.5% over the past nine days, while silver has seen an impressive gain of 8.4% during the same period. Additionally, the VanEck
The freight rail network in Canada is currently facing a major threat as the country’s two largest railroad operators, Canadian National Railway (CN) and Canadian Pacific Kansas City (CPKC), have issued lockout notices to the Teamsters union representing nearly 10,000 workers. If last-minute deals are not reached, both CN and CPKC plan to lock out
The stock market experienced a day of mixed gains and losses as investors analyzed the latest Consumer Price Index (CPI) data. While the S&P 500 managed to edge higher, closing with a modest gain of 0.38%, the day started with optimism due to the headline July CPI figure coming in slightly below expectations. This marked
On Thursday, Cisco made a bold move by announcing a 7% reduction in its workforce, which resulted in a surge of 8% in its shares. This news marked the company’s best day since March 2020. The decision to trim down its employee base was coupled with the release of quarterly results that outperformed analyst expectations.
In the world of investing, seeking out advice on where to put your money can be a daunting task. Some people rely on their own research, while others turn to traditional investment advisors with years of experience. However, there is a growing trend of individuals turning to a new breed of advisors known as “finfluencers.”