SHANGHAI (Reuters) – Ultra low-cost e-commerce platform Temu, owned by PDD Holdings, has started selling to Japan, marking its first foray into the Asian market. The marketplace, the sister site of Chinese discount e-commerce platform Pinduoduo, ships everything from clothing to electronics and home goods, mainly from Chinese merchants to customers overseas at rock bottom prices….
(Reuters) – Russia will allow the U.S. ambassador to Moscow to visit detained Wall Street Journal reporter Evan Gershkovich “on a reciprocal basis”, Foreign Ministry spokeswoman Maria Zakharova said on Thursday. Ambassador Lynne Tracy was able to visit Gershkovich this week for only the second time since he was detained in March on espionage charges,…
By Brendan Pierson and Andrew Goudsward (Reuters) – A federal judge’s order restricting Biden administration officials from contacting social media companies about moderating their content will face tough legal challenges on appeal, experts said. Several legal scholars and attorneys said while the lawsuit challenging the administration’s communications with social media companies raised real free speech…
LONDON (Reuters) – Bitcoin hit its highest level in 13 months on Thursday rising as much as 3.28% to $31,500. The world’s largest cryptocurrency has recently found support due to plans by fund managers, including BlackRock – the world’s largest asset manager – to launch a U.S.-listed spot bitcoin exchange-traded fund(ETF). Nasdaq refiled its application…
By Joyce Lee SEOUL (Reuters) -Samsung Electronics’ June-quarter profit is expected to plunge 96% on-year to the lowest for any quarter in more than 14 years, as a chip glut continues to drive large losses in the tech giant’s cash cow business despite a supply cut. Operating profit for the world’s biggest maker of memory…
By David Shepardson WASHINGTON (Reuters) -TikTok Inc on Wednesday asked a U.S. judge to block enforcement of a Montana state ban on use of the Chinese-owned app before it takes effect on Jan. 1. TikTok, which is owned by China’s ByteDance and filed suit in May, asked U.S. District Judge Donald W. Molloy to issue…
BEIJING/SHANGHAI (Reuters) -China’s export controls on metals used in semiconductors are “just a start”, an influential Chinese trade policy adviser said on Wednesday, as Beijing ramps up a tech fight with Washington days before a visit from U.S. Treasury Secretary Janet Yellen. Shares in some Chinese metals companies rallied for a second session as investors…
By Tyler Clifford and Sharon Bernstein (Reuters) – The Biden administration on Wednesday appealed a federal judge’s ruling restricting some agencies and officials from meeting and communicating with social media companies to moderate their content, according to a court filing. The notice of appeal filed on Wednesday signals the government’s plan to ask the U.S….
(Reuters) – Openmarkets Australia Ltd was fined a record A$4.5 million ($2.99 million) after a panel found the retail broker in violation of numerous market integrity rules, the country’s corporate regulator said on Thursday. Routine surveillance from the Australian Securities and Investments Commission (ASIC) had identified repeated suspicious trading by an Openmarkets client. The client…
(Reuters) -Commodity Futures Trading Commission (CFTC) investigators have concluded that bankrupt crypto lender Celsius and its former CEO Alex Mashinsky broke U.S. rules before the firm’s implosion, Bloomberg News reported on Wednesday. Attorneys in the regulator’s enforcement unit determined that Celsius misled investors and should have registered with the regulator, according to the report, citing…
