Stay up to date with free updates Simply sign up for the Chinese Business & Finance myFT Digest – straight to your inbox. Alibaba boss Eddie Wu has strengthened his hold on the sprawling tech conglomerate, reshuffling management again to take direct control of its core e-commerce business as the company loses market share to … [Read more…]
The Apple App Store attracts 650 million people every week and is a good indicator of the most popular digital trends in the country. Not surprisingly, in a year when inflation has skyrocketed and social media has changed dramatically, the list of most popular apps is a mix of discount online shopping, previously unreleased social … [Read more…]
Volvo Cars shares fell as much as 14% on Friday, hitting a record low. Volvo parent company Zhejiang Geely Holding Group has started selling around 100 million shares in the Swedish carmaker. Volvo vehicles seen outside an Edmonton Volvo dealership on October 26, 2023 in Edmonton, Alberta, Canada. Arthur Widak | Photo only | Getty … [Read more…]
The Micron Technology logo is seen at the U.S. chipmaker’s offices in Shanghai, China, May 25, 2023. Portal/Aly Song/File Photo Acquire License Rights Nov 12 (Portal) – Chinese chipmaker Yangtze Memory Technologies Co (YMTC) has filed a lawsuit against U.S. rival Micron Technology (MU.O) for infringing eight of its patents. YMTC filed the lawsuit against … [Read more…]
More than three-quarters of 3,000 shoppers recently surveyed by Bain & Co plan to spend less during this year’s Singles’ Day or maintain their spending at 2022 levels, according to the US consultancy’s report published on Tuesday. 03:19 Singles’ Day: The world’s largest online shopping event takes place amid the slowdown in China’s economy Singles’ … [Read more…]
The Chinese spies wanted more. In meetings with Chinese technology companies during the pandemic, they complained that surveillance cameras tracking foreign diplomats, military officers and intelligence officials in Beijing’s embassy district did not meet their needs. The spies demanded an artificial intelligence program that would instantly create dossiers on every person of interest in the … [Read more…]
A mobile phone shows the screen of Tencent Games company’s stock decline on December 22, 2023 in Suqian city, Jiangsu province, China. Cost photo | Photo only | Getty Images Chinese online gambling stocks rose on Wednesday, recouping some losses from the previous session, after the country’s top gambling regulator pledged to “further modify and … [Read more…]