Global online shopping platform Temu is already gaining ground in the US Apple Store. Bloomberg | Bloomberg | Getty Images Chinese low-cost online retailer Temu has filed a new lawsuit against its rival Shein over copyright concerns and “mafia-like intimidation of suppliers,” according to a filing Wednesday. In the lawsuit, Boston-based WhaleCo, which does business … [Read more…]
Zulily, the Seattle-based online retailer that recently announced it was going out of business, has sued its former rival Amazon – blaming Amazon’s policies that pushed retailers away from the competition. In a lawsuit filed Monday in Seattle, Zulily accused the e-commerce giant of engaging in the same anticompetitive business practices that were at the … [Read more…]
Nokia plunged to its lowest level in three years after it lost out to rival Ericsson in a major contract with telecommunications giant AT&T to roll out an open radio access network (Open RAN) in the US Stockholm-listed shares of Swedish company Ericsson rose significantly on Tuesday morning after the deal was completed. The companies … [Read more…]
Editor’s note: Sign up for CNN’s “Inside in China” newsletter for what you need to know about the country’s rise and its impact on the world. Hong Kong CNN – Alibaba founder Jack Ma has called for “change” as a competitor’s stellar performance raises eyebrows at his e-commerce company. On Wednesday, the billionaire reacted to … [Read more…]
NVIDIA is facing a lawsuit from French automotive giant Valeo after one of its employees made a screen sharing error. According to Valeo’s complaint, Mohammad Moniruzzaman, an engineer at NVIDIA who previously worked for the company, accidentally viewed the source code files on his computer while sharing his screen during a meeting with both companies … [Read more…]
Gene J. Puskar/AP This is part of US Steel’s Edgar Thomson plant in Braddock, Pennsylvania, on Monday. CNN – The possible takeover of US Steel by a Japanese steel competitor could face resistance from the US government, according to comments from US Commerce Secretary Gina Raimondo. “President Biden is very focused on ensuring that we … [Read more…]