China

  • Amazon China to close local marketplace and place more focus on cross-border Amazon has finally given up the fight with Chinese online shopping giants to capture the domestic market. On Thursday, the Seattle-based ecommerce company announced it will shut down its marketplace on Amazon.cn, which connects mainland Chinese buyers and sellers, while other units of its local venture will stay intact. “We are working closely with our ...
  • Starbucks challenger Luckin’s fundraising spree continues with $150M investment Coffee startup Luckin is continuing its fundraising spree as it sets its sight on becoming an alternative to Starbucks in China. The a-year-and-a-half old company announced on Thursday that it closed a Series B-plus raise totaling $150 million. The fresh proceeds valued Luckin at $2.9 billion post-money, up from $2.2 billion just four months ago. ...
  • Terry Gou will resign as Foxconn’s chairman to run for president of Taiwan Foxconn chairman Terry Gou officially announced on Wednesday that he will run for president of Taiwan. Gou will step down from leading the company (also known as Hon Hai Precision Industry Co. Ltd), one of Apple’s most important manufacturers, in order to campaign for the nomination of the Kuomintang, the pro-China opposition party. Taiwan’s economy ...
  • Dutch chipmaker NXP makes China push by backing radar company Hawkeye Dutch chipmaker NXP Semiconductors has come a long way since Qualcomm’s outsize $44 billion to acquire it fell through last year. In an announcement released on Tuesday, NXP said it’s agreed to back and partner with Hawkeye Technology, a Chinese company specializing in automotive radars, as part of an ambition to capture the rapid growth ...
  • China’s economy beats forecasts as stimulus offsets trade war damage – business live Rolling coverage of the latest economic and financial news, including surprisingly strong growth figures from ChinaChina’s economy boosted by factories and consumersAnnual growth holds steady at 6.4% Strongest industrial production growth in five years… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new window)Click to share ...
  • Aptiv takes its self-driving car ambitions (and tech) to China Aptiv, the U.S. auto supplier and self-driving software company, is opening an autonomous mobility center in Shanghai to focus on the development and eventual deployment of its technology on public roads. The expansion marks the fifth market where Aptiv has set up R&D, testing or operational facilities. Aptiv has autonomous driving operations in Boston, Las ...
  • University of Minnesota Student Sues Chinese Billionaire for Alleged Rape Jingyao Liu claims Liu raped her at her apartment Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on Pinterest (Opens in new window)More
  • Student sues JD.com’s billionaire CEO Richard Liu for alleged rape A Chinese student has filed a lawsuit against JD.com founder and chief executive Richard Liu, alleging the billionaire businessman raped her in Minnesota back in August, four months after local prosecutors decided not to press charges. The lawsuit, which was filed in Hennepin County on Tuesday, is seeking damages of more than $50,000. It identifies ...
  • Apple will dramatically expand iPhone production in India Local manufacturing will allow Apple to dodge Indian import duties. Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on Pinterest (Opens in new window)More
  • Electric car startup Byton loses co-founder and former CEO, reported $500M Series C to close this summer The race is on for building and shipping more cost-effective electric cars, but today one of more ambitious startups in the field announced some significant changes that underscore some of the challenges in making that a reality. Byton, the Chinese electric car startup, today announced that Carsten Breitfeld, the former BMW executive and Byton co-founder ...
  • JD founder cautions logistics business must tighten belt Alibaba’s arch-foe JD.com has long prided itself on owning and controlling its logistics services: couriers are treated as in-house staff and paid a basic income. But that will end soon as costs keep piling up for the ecommerce giant. In an internal letter sent to the staff on Monday, JD founder and chief executive Richard ...
  • Longer working hours do not mean higher profits, say economists Overwork can have business costs and is the main reason for workplace sickness in the UKIn the backlash against the “996” working schedule, China’s tech workers say their bosses have lost valuable productivity gains that could have been generated with … Share this:Click to email this to a friend (Opens in new window)Click to share on ...
  • Match Group restructures exec team with focus on Asia Tinder parent company Match Group, also the owner of a suite of dating apps including OkCupid, Meetic, Match, PlentyofFish and others, announced this morning plans to restructure its leadership team in order to better focus on the market opportunities for dating apps in Asia. Specifically, the company has appointed three new general managers in Asia ...
  • Ten steps to prepare for an exponential future Jamie Metzl Contributor Share on Twitter Jamie Metzl is a futurist and the author of Hacking Darwin: Genetic Enhancement and the Future of Humanity. More posts by this contributor Homo Sapiens 2.0? We need a species-wide conversation about the future of human genetic enhancement If it feels like technological change is happening faster than it ...
  • UK sounds alarm over rising debt levels in poorest countries International development secretary calls for creditors such as China to be transparentBritain’s international development secretary, Penny Mordaunt, has sounded the alarm over rising debt levels in the poorest countries amid fears heavy repayments wil… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new window)Click to share ...
  • World leaders ignore David Attenborough at their peril | Larry Eliott Nations should heed global warming warning – and also take lesson from Bretton Woods in 1944Fragile and delicate. The adjectives said it all. The mood at the spring meeting of the International Monetary Fund and the World Bank was sombre. The global ec… Share this:Click to email this to a friend (Opens in new window)Click to ...
  • China’s startup ecosystem is hitting back at demanding working hours In China, the laws limit work to 44 hours a week and require overtime pay for anything above that. But many aren’t following the rules, and a rare online movement puts a spotlight on extended work hours in China’s booming tech sector. People from all corners of society have rallied in support for improvements to ...
  • Backer of Musical.ly, Grindr and Opera to invest $50M in self-driving startup Pony.ai A games publisher in China is following the path of its larger peer Tencent to back a wide spectrum of startups for financial gains. Beijing Kunlun Wanwei, or Kunlun, announced in a filing this week that it plans to inject $50 million into autonomous driving startup Pony.ai in exchange for a 3 percent stake. Pony.ai ...
  • Chinese imports slump amid trade standoff with US Mixed picture shows country’s exports surged in March, with $32bn trade surplusChinese imports slumped in March, driven by a slowdown in US trade amid the tense standoff over trade between Washington and Beijing, raising renewed questions over the stre… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens ...
  • China’s trade with US slumps as tariff war hits demand – business live Latest Chinese trade data shows that imports from America have tumbled in 2019, as Donald Trump’s tariffs biteChinese-US trade down 11% this yearIntroduction: Chinese exports up 14% in March……but imports keep falling, down 7% 9.24am BST Digging int… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in ...
  • China’s largest stock photo provider draws fire over use of black hole image While the world marvels at the first black hole image ever taken, a Chinese photo-sharing community is setting off a huge public outcry over its use of the landmark photo and a wider debate over copyrights practices in China. As soon as the European Southern Observatory released the black hole photo on April 10, Visual ...
  • World Bank boss calls for more transparent lending to poor nations David Malpass tells China to come clean over its lending to indebted African countries The new head of the World Bank has told China that it needs to come clean about its lending to poor countries, as he warned that debt problems are once again on the … Share this:Click to email this to a friend ...
  • Tesla, Panasonic modify expansion plans for gigafactory Tesla and Panasonic have paused plans to add more battery production lines at Gigafactory 1, its massive factory outside of Reno, Nevada that is a cornerstone to the automaker’s business. The Nikkei Asian Review initially reported Thursday that Tesla and Panasonic were freezing plans to expand capacity. The partners had planned to increase capacity by ...
  • Didi steps up financial drive as it courts car leasing companies Didi Chuxing is making a further push into the financial arena as it looks to diversify its business amid huge losses. We reported in January that the company, which controls a dominant slice of China’s ride-hailing market, released financial and insurance products targeting riders and drivers. Its service offering just broadened after the startup launched ...
  • The most serious threat to emerging economies is a US recession | Barry Eichengreen Recent respite for China, on which other emerging markets are highly leveraged, could be short-livedSuddenly it seems that emerging-market economies have gained a respite. Capital flows to these economies dried up in the second half of last year as the… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook ...
  • Udacity restructures operations, lays off 20 percent of its workforce Udacity, the $1 billion online education startup, has laid off about 20 percent of its workforce and is restructuring its operations as the company’s co-founder Sebastian Thrun seeks to bring costs in line with revenue without curbing growth, TechCrunch has learned. The objective is to do more than simply keep the company afloat, Thrun told ...
  • Partnering with Visa, emerging market lender Branch International raises $170 million The San Francisco-based startup Branch International, which makes small personal loans in emerging markets, has raised $170 million and announced a partnership with Visa to offer virtual, pre-paid debit cards to Branch client networks in Africa, South-Asia and Latin America.  Branch — which has 150 employees in San Francisco, Lagos, Nairobi, Mexico City and Mumbai — ...
  • China’s Source Code Capital raises $570M as it builds a powerful investor network Source Code Capital, the venture capital firm that’s backed some of China’s most prominent tech unicorns and boasts a network of high-profile investors and founders, announced Monday it has closed a new $570 million fund as it continues to hunt down early to mid-stage companies. The latest close catapults Source Code’s capital under management to ...
  • China hails ‘progress’ in trade talks, but US warns of ‘significant’ work ahead Negotiators meet again on Monday to resolve dispute that has cast a shadow over global financial marketsChina said “new progress” had been made in trade talks with the United States as the two sides prepare to resume discussions next week to try to sec… Share this:Click to email this to a friend (Opens in new window)Click ...
  • Snap is channeling Asia’s messaging giants with its move into gaming Snap is taking a leaf out of the Asian messaging app playbook as its social messaging service enters a new era. The company unveiled a series of new strategies that are aimed at breathing fresh life into the service which has been ruthlessly cloned by Facebook across Instagram, WhatsApp, and even its primary social network. ...
  • TikTok’s next ambitious goal is to discover future music stars TikTok needs a lot of music. A lot. The short-form video service began life as a lip-synching app in China, where it’s called Douyin, and although other categories of content, like skits and life hacks, later took off, music remains a key element to the app as its users in the hundreds of millions grow ...
  • Samsung’s upcoming Q1 earnings are going to be ugly It’s that time again folks, Samsung has reported guidance for its upcoming Q1 quarter — and things don’t look good. Samsung is forecasting that revenue for the quarter will reach 51-53 trillion KRW ($44.87-$46.63 billion), which would represent a drop of around 15 percent on one year previous. The Korean tech giant reported a record ...
  • India’s OYO enters Japan in partnership with SoftBank Fresh from closing a notable investment from Airbnb, India’s OYO has expanded its footprint into Japan. The move comes through a joint venture with investor SoftBank — which led OYO’s $1 billion round last year through its Vision Fund — which will cover hotel-based accommodation and home rentals. Financial details around the joint venture were ...
  • Rising risk of US and China housing slump causing recession – IMF Concern that overvaluation, low interest rates and loose lending will affect stabilityA growing number of homes in the US and China are teetering on the brink of a price slump that would drag their economies into a recession, the International Monetary… Share this:Click to email this to a friend (Opens in new window)Click to share on ...
  • MIT cuts working relationship with Huawei and ZTE over alleged sanction violations The Massachusetts Institute of Technology announced today it will suspend collaborations, including research projects and funding, with Huawei Technologies and ZTE, two Chinese tech companies fighting with the U.S. government over alleged sanction violations. In a public letter titled “New review process for ‘elevated-risk’ international proposals,” MIT vice president for research Maria T. Zuber wrote ...
  • iPhones get a price drop in China Apple this week lowered the price on a number key hardware lines in China, including AirPods, Macs, iPads and, most notably, the iPhone. The move, noted by CNBC, is believed to be the direct results of a three-percent tax cut that took effect in the country yesterday. In many cases, however, the impacted product have ...
  • Search giant Baidu has driven the most autonomous miles in Beijing While the public is asking, “When are we going to ride in autonomous cars?” Technology companies have been moving apace to test them on designated roads. In China’s capital city Beijing, eight firms drove a total of 153,600 kilometers (95442.6 miles) through their autonomous fleets in 2018, and Baidu, the country’s largest search engine service ...
  • WTO says tariff war will hammer global trade growth this year Worst case scenario of a global trade war would lead to a reduction in world GDP in 2022 of about 2% Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Twitter (Opens in new ...
  • Google reshuffles its leadership in Asia Pacific There’s a changing of the guard within Google’s Asia Pacific business. In recent weeks, personnel changes within two of its most important roles show the search giant is entering a new era of management for its fast-growing business across the continent. Scott Beaumont, a British executive who previously ran Google in China and Korea, stepped ...
  • Apple Lowers Prices of iPhones, iPads, Macs, AirPods, and More in China as VAT Cut Takes Effect Apple has lowered the prices of several products in China this week, including the latest iPhones, iPads, and AirPods. As noted by CNBC, the iPhone XR now starts at 6199 RMB on Apple’s online store in China, nearly five percent lower than its prev… Share this:Click to email this to a friend (Opens in new window)Click to ...
  • Airbnb confirms $150M-$200M investment in India’s OYO Airbnb is continuing to widen its focus beyond ‘unconventional’ hotels as it gets ready for a much-anticipated IPO. Following its acquisition of HotelTonight last month, the company has picked today (April Fool’s Day) to confirm that it invested in India’s OYO — a startup that manages budget hotels and other stays. The deal has been ...
  • China’s grocery delivery battle heats up with Meituan’s entry Fast, affordable food delivery service has been life-changing for many working Chinese, but some still prefer to whip up their own meals. These people may not have the time to pick up fresh ingredients from brick-and-mortar stores, so China’s startups and large companies are trying to make home-cooked meals more effortless for busy workers by ...
  • Huawei books $8.8B profit for 2018 as consumer devices become top moneymaker Despite an ongoing tussle with the U.S. government, signs look positive for Huawei. The Chinese firm just released its end of year report for 2018 and profit is up 25 percent to 59.3 billion CNY, or $8.84 billion, thanks to its fast-growing smartphone and devices business. Huawei isn’t a public company but it does release ...
  • Canada’s trade woes pile up: ‘We have to find some friends’ Mark Warner, Principal at MAAW Law, talks about Canada’s current position with its trading partners around the world Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Twitter (Opens in new window)Click to share ...
  • Crypto 2.0, accessibility, and Apple’s future strategy From Extra Crunch Jon Evans has a comprehensive look at the most compelling futures for “Crypto 2.0.” With the trading frenzy out of the way (at least for the time being), engineers and product designers can now get back to the real world of improving these systems. Digital accessibility expert Beth Franssen has a piece ...
  • Kong raises $43M Series C for its API platform Kong, the open core API management and lifecycle management company previously known as Mashape, today announced that it has raised a $43 million Series C round led by Index Ventures. Previous investors Andreessen Horowitz and Charles River Ventures (CRV), as well as new investors GGV Capital and World Innovation Lab also participated. With this round, ...
  • Rela, a Chinese lesbian dating app, exposed 5 million user profiles Rela (热拉), a popular dating app for gay and queer women, has exposed millions of user profiles and private data because a server wasn’t protected with a password. Rela disappeared from app stores in May 2017 after it was reportedly shut down by Chinese regulators, though the government never confirmed it took action. But the ...
  • Nuro CEO Dave Ferguson at TC Sessions: Mobility on July 10 in San Jose Autonomous delivery startup Nuro, fresh with nearly $1 billion in capital from SoftBank, is bursting with ideas — as some recent patent filings (and our recent deep dive into the company) suggest. And we can’t wait to learn more about what Nuro has planned. It’s only fitting that Nuro co-founder and CEO Dave Ferguson is ...
  • It’s a draw in latest Qualcomm v Apple patent scores It’s Qualcomm 1, Apple 1 in the latest instalment of the pair’s bitter patent bust-up — the litigious IP infringement claim saga that also combines a billion dollar royalties suit filed by Cupertino alleging the mobile chipmaker’s licensing terms are unfair. Apple filed against Qualcomm on the latter front two years ago and the trial ...
  • Alibaba, Tencent and other major names form $1.45B ride-hailing venture For the last two years, Didi has been the dominant car-hailing force in China and its success has spawned a handful of competitors initiated by both internet firms and old-school carmakers. Just last week, another notable challenger has stepped up. T3, which is short for “top 3”, officially launched after a dozen entities, including three ...
  • Hong Kong-based fintech startup Qupital raises $15M Series A to expand in mainland China Qupital, a fintech startup that bills itself as Hong Kong’s largest trade financing platform for SMEs, has closed a $15 million Series A led by CreditEase FinTech Investment Fund (CEFIF), with participation from returning investors Alibaba Hong Kong Entrepreneurs Fund and MindWorks Ventures, both participants in its seed round. To date, Qupital has raised $17 ...
  • Macron’s mini-summit in Paris is a snub to Trump’s trade policy | Larry Elliott European leaders and China’s Xi Jinping put on a show of unity in the face of US tariffsDonald Trump was not on the guest list for Emmanuel Macron’s mini-summit in Paris, but the presence of the US president was still very much felt as Europe’s leaders… Share this:Click to email this to a friend (Opens in ...
  • Cross-border fintech startup Airwallex raises $100M at a valuation of over $1B Australia-based Airwallex is the latest tech startup to enter the billion-dollar “unicorn” club. The company announced today that it has closed a $100 million Series C round that values its business above $1 billion. Started in Melbourne in 2015 by four Chinese founders, Airwallex provides a service that lets companies manage cross-border revenue and financing ...
  • Alibaba acquires Israeli VR startup Infinity Augmented Reality Infinity Augmented Reality, an Israeli virtual reality startup, has been acquired by Alibaba, the companies announced this weekend. The deal’s terms were not disclosed. Alibaba and InfinityAR have had a strategic partnership since 2016, when Alibaba Group led InfinityAR’s Series C. Since then, the two have collaborated on augmented reality, computer vision and artificial intelligence ...
  • Planning for the uncertain future of work In a recently published, roughly 75-page report, British non-profit organization The Royal Society for the Encouragement of Arts (RSA) outlined several scenarios for how the UK labor market will be impacted by frontier technologies such as automation, AI, AVs and more. The analysis titled “The Four Futures of Work” was conducted in collaboration with design ...
  • How Nuro plans to spend Softbank’s money Autonomous delivery startup Nuro is bursting with ideas since SoftBank invested nearly $1 billion in February, new filings reveal. A recent patent application details how its R1 self-driving vehicle could carry smaller robots to cross lawns or climb stairs to drop off packages. The company has even taken the step of trademarking the name “Fido” ...
  • Italy and China in plan for new Silk Road-style trade network Xi Jinping visits Rome as Italy becomes first G7 country to back Belt and Road initiativeItaly has become the first G7 country to endorse a contentious plan by China to build a Silk Road-style global trade network, irking its EU and US allies.The prime… Share this:Click to email this to a friend (Opens in new window)Click ...
  • Tim Cook Travels to China, Meets With Vice Premier and Developers Apple CEO Tim Cook is in China this week ahead of the annual China Development Forum that promotes economic growth in the country. Cook was photographed at an Apple Store in Beijing’s central Wangfujing shopping district on Thursday, where he atte… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook ...
  • Donald Trump and Xi Jinping miss a trick over trade | Jeffery Frankel US-Japan agreement on structural reforms in 1990 could be model for current China talksPresident Donald Trump has postponed until at least April the supposed deadline for concluding the United States’ trade negotiations with China. A good outcome for b… Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens ...
  • North Korea’s new website and pro rata rights From Extra Crunch We have published the transcript for Brian Heater’s conference call on robotics. Arman published report reviews on China’s luxury goods and consumer spending as well as on perceptions of automation in Europe. We have Lucas Matney and Eric Peckham scheduled for today at 3pm EST / noon PST discussing GDC on our ...
  • Indonesia’s Kargo comes out of stealth with $7.6M from Travis Kalanick, Sequoia and others Travis Kalanick may be busy cooking up a cloud kitchen business, but that hasn’t stopped the former Uber CEO’s VC fund from making its first investment in Southeast Asia. 10100, the firm that Kalanick launched last year for investments in Asia, just took part in a $7.6 million seed round for Kargo, an early-stage ‘Uber ...
  • Tencent Q4 profit disappoints, but cloud and payments gain ground China’s Tencent reported disappointing profits in the fourth quarter on the back of surging costs but saw emerging businesses pick up steam as it plots to diversify amid slackening gaming revenues. Net profit for the quarter slid 32 percent to 14.2 billion yuan ($2.1 billion), behind analysts’ forecast of 18.3 billion yuan. The decrease was ...
  • Taxes on VC and electric buses harming oil prices From Extra Crunch A lot of subscribers got to hear from TechCrunch hardware guru Brian Heater, who has been meeting with (too many) robotics companies as we prepare for TechCrunch Sessions: Robotics. If you weren’t able to join us, a transcript will be available in the next 48 hours. We have Lucas Matney and Eric ...
  • Slowdown or not, China’s luxury goods still seeing high-end growth Despite well-documented concerns over an economic slowdown in China, the country’s luxury goods market is still seeing opulent growth according to a new study. Behind secular and demographic tailwinds, the luxury sector is set to continue its torrid expansion in the face of volatility as it’s quickly becoming a defensive economic crown jewel. Using proprietary ...
  • US-China trade: Trump says tariffs on Beijing may linger ‘We have to make sure that if we do the deal, China lives by it,’ says president ahead of resumption of trade talksDonald Trump has warned that the United States may leave tariffs on Chinese goods for a “substantial period” to ensure that Beijing compl… Share this:Click to email this to a friend (Opens in new ...
  • PicsArt hits 130 million MAUs as Chinese flock to its photo editing app If you’re like me, who isn’t big on social media, you’d think that the image filters that come inside most apps will do the job. But for many others, especially the younger crowd, making their photos stand out is a huge deal. The demand is big enough that PicsArt, a rival to filtering companies VSCO ...
  • The World Health Organization is setting up rules and oversight for human gene editing Yesterday, the World Health Organization wrapped up its first meeting of a new advisory committee set up to create global governance and oversight standards for human gene editing. The committee was hastily pulled together in December after the revelation last year that a Chinese scientist had genetically modified two embryos using CRISPR technology to remove the ...
  • Canada’s biggest pension fund considers opening its first office in China CPPIB continues to grow its portfolio in China, with a focus on China’s rising middle class and its burgeoning consumer consumption story Share this:Click to email this to a friend (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Twitter (Opens in ...
  • Grab launches SME loans and micro-insurance in Southeast Asia In its latest move beyond ride-hailing, Southeast Asia’s Grab has started to offer financing to SMEs and micro-insurance to its drivers. The launch comes just weeks after Grab raised $1.5 billion from the Vision Fund as part of a larger $5 billion Series H funding round that’ll be used to battle rival Go-Jek, which is ...
  • TikTok parent Bytedance is getting serious about games A turbulent 2018 for China’s gaming market hasn’t held back newcomers. Bytedance, the world’s most valuable startup behind a collection of rising new media apps including TikTok and Jinri Toutiao, is making a further push into video games after it took control of a mobile game developer through a roundabout deal. According to a business registration ...
  • Global stock markets gain as investors predict cautious Federal Reserve – business live Central banks in spotlight amid Brexit uncertainty and growth concerns 9.59am GMT There is likely a lot of water to flow under the Brexit bridge today, which could drive movements on British markets. The early signs have not been encouraging for Prime … Share this:Click to email this to a friend (Opens in new window)Click to ...
  • This YC-backed startup preps Chinese students for US data jobs In recent years, data analysts have gone from optional to a career that holds great promise, but demand for quantitative skills applied in business decisions has raced ahead of supply as college curriculum often lags behind the fast-changing workplace. CareerTu, a New York-based startup launched by a former marketing manager at Amazon, aims to close ...
  • Can there be too much competition between startups? Competition is the core of capitalism. Competition between companies lowers prices — on average — and ensures that they are forced to innovate lest they lose their markets to others. Competition between workers ensures that people strive to do their best work lest their jobs go to more qualified or faster or cheaper replacements. Obviously, ...
  • Surging costs send shares of ecommerce challenger Pinduoduo down 17 percent China’s new tech force Pinduoduo is continuing its race to upend the ecommerce space, even at the expense of its finances. The three-year-old startup earmarked some big wins from the 2018 fiscal year, but losses were even greater, dragging its shares down 17 percent on Wednesday after the firm released its latest earnings results. The ...
  • Telegram gets 3M new signups during Facebook apps’ outage Messaging platform Telegram claims to have had a surge in signups during a period of downtime for Facebook’s rival messaging services. In a message sent to his Telegram channel, founder Pavel Durov’s just wrote: “I see 3 million new users signed up for Telegram within the last 24 hours.” It’s probably not a coincidence that ...