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...Many of those suppliers responded by switching to selling items on Temu, owned by Nasdaq-listed PDD Holdings, which is spending billions of dollars trying to replicate Shein’s success in shipping ultra-cheap...
...received “exploratory inquiries” about “potential supply chain resiliency challenges”, following talks over the Biosecure Act and the acquisition in February of major contract manufacturer Catalent by Novo Holdings...
...It is down nearly 17 per cent since January 1 as top holding Tesla has fallen about 37 per cent this year....
...Windsor joined Abrdn in October after holding the same role at housebuilder Persimmon. He previously worked at insurance group Aviva for more than a decade....
The inside story on the Asia tech trends that matter, from Nikkei Asia and the Financial Times
...Chinese ecommerce group PDD Holdings has reported a more than doubling of quarterly revenues, hailing 2023 as a “pivotal” year during which its ultra-cheap shopping site Temu turbocharged growth....
...Chinese ecommerce group PDD Holdings reported a 123 per cent increase in quarterly revenues, hailing 2023 as a “pivotal year” when its ultra cheap shopping site Temu turbocharged growth....
Chinese tech giants are hogging scarce cloud resources to develop generative AI models as US restrictions bite
...Shanghai-based ecommerce giant PDD Holdings launched Temu in the US in September 2022 and then spent close to $3bn in marketing last year, according to estimates from research group Bernstein....
...platform, writes Eleanor Olcott of the Financial Times....
...In recent years, London has lost out on high-profile listings of Cambridge-based chip designer Arm Holdings, factory parts supplier Rubix, building materials group CRH and soda ash producer WE Soda....
...Alibaba chief executive Eddie Yongming Wu has taken over as head of the ecommerce business unit, a shakeup that comes as the online giant has been losing market share to PDD Holdings and ByteDance’s Douyin...
...The Financial Times reported last month that Beijing was considering holding up the deal, which was first announced in May 2022, after the US tightened rules to block Chinese access to high-end chips....
...In recent weeks senior executives of the company, valued at more than $60bn in its most recent private fundraising, have been holding discussions with regulators in the Chinese capital to get their blessing...
...Once Asia’s most valuable company, it was overtaken in market capitalisation for the first time in November by its Chinese rival PDD Holdings....
...He was responding to an employee post about the “stunning” third-quarter financial results from PDD Holdings, which saw Alibaba’s upstart rival nearly double revenue to $9.4bn....
...Additional reporting by Eleanor Olcott in Hong Kong...
...chief Eddie Wu has strengthened his grip on the sprawling tech conglomerate, reshuffling management once again to take direct charge of its core ecommerce business as it loses market share to rivals PDD Holdings...
...However, the conditional approval will help hedge funds including Pentwater, Millennium and DE Shaw, which each hold stakes worth more than $350mn in VMware, according to recent disclosures made for holdings...
...Staff wrote to the regulator to lobby against holding tech groups responsible for AI content. One employee said Baidu was now using other internal models to check content generated by Ernie....
Thank [expletive] for Michael O’Leary
...Accor and Dubai Holding declined to comment. Any possible partnership could extend to the Orient Express hotel and train assets, the people added....
...Several retail brokers, including Robinhood and Interactive Brokers, now offer 24-hour weekday access to US stocks with trades either matched with their internal holdings, or conducted via a “dark pool”...
Tech company releases large language model as it joins battle to become China’s AI national champion
...Its largest holdings included Alphabet, Canadian National Railway, Visa, General Electric and rating agency Moody’s as at the end of September, according to a regulatory filing....
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