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SAIC Motor terminates acquisition of stake in CAR Inc.

VCG China's largest automaker SAIC Motor has terminated an agreement to acquire stakes in troubled CAR Inc., the country's largest car rental company.SAIC Motor HK Investment, a wholly-owned u

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India approves Facebook’s $5.7 billion deal with Reliance Jio Platforms

India’s antitrust watchdog has given its blessing to Facebook and Reliance Jio Platforms for their $5.7 billion deal.In a statement on Wednesday, the Competition Commission of India said it had

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Accelerated Digital Ventures’ future is in flux after founders lose board seats

The future of Accelerated Digital Ventures (ADV), the U.K. early-stage investment firm now majority owned by Legal General, is in flux after three of its founders have lost their seat on the board, Te

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China greenlights first wholly foreign-owned futures brokerage

BEIJING, June 18 (Xinhua) -- China's top securities regulator announced Thursday that it has granted approval allowing J.P. Morgan Futures Co., Ltd. to become the coun

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Mark Zuckerberg and Priscilla Chan respond to Chan Zuckerberg Initiative scientists’ open letter on Trump

Mark Zuckberg and Priscilla Chan have penned a response to an open letter sent last week by a group of over 140 scientists who are working on projects funded by the Chan Zuckberberg Initiative. The l

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Direct-to-consumer startup studio Innovation Department raises $3.7M

Innovation Department, a startup building a portfolio of direct-to-consumer brands, is announcing that it has raised its first outside capital in a $3.7 million funding roundIt’s only launched o

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Cathay Pacific announces $5 bln recapitalization plan

Cathay Pacific aircraft are seen parked on the tarmac at the airport in Hong Kong, China, March 5, 2020. /VCG Cathay Pacific will undergo a 40-billion-Hong Kong-dollar (5.2 billion U.S. dollar

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Chinese telecom firms urge FCC not to block U.S. operations

Pacific Networks Corp and its wholly owned subsidiary ComNet (USA) LLC on Monday urged the Federal Communications Commission (FCC) not to shut down its U.S. operations.

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Protests across the U.S. reflect systemic racism in the country

Protesters confront police near the White House during a protest over the death of George Floyd in Washington D.C., May 30, 2020. /Xinhua Editor's note: Sun Chenghao is an assistant research p

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Volkswagen pumps 2 billion euros in two Chinese NEV firms

German automakerVolkswagen AG (VW) said on Friday it has agreed to invest 2.1 billion euros (2.33 billion U.S. dollars) in two separate Chinese electric vehicle players.Drawing wide attention, the mo

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No regrets - Boris Johnson's top advisor defends breaking lockdown

Dominic Cummings defended his action in the press conference hosted in the gardens of 10 Downing Street. / AFP/ Pool/Jonathan Brady Dominic Cummings, special advisor to UK Prime Minister Boris

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Nasdaq-listed Bilibili posts strong revenue growth in Q1

Chinese online entertainment platform Bilibili Inc. reported a 69 percent revenue growth in the first quarter (Q1) of 2020 on the back of a strong rise in user numbers

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What's China's new foreign investment law like?

China's new foreign investment law is widely regarded as a milestone in leveling the playing field to attract foreign investors and expanding market access in the country's 40-plus years of reform an

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Why did Apple buy NextVR?

After plenty of talk about AR as the next computing platform, Apple may have more interest in virtual reality than they’ve previously forecasted.Following an April report from 9to5mac, today Ap

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Fitch Ratings gains access to China's ratings business

VCG The Chinese entity of U.S. firm Fitch Ratings has been approved to enter China's credit rating market as part of the partial trade deal with the United States, China's central bank said Th

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Uber is reportedly in talks to buy GrubHub

Uber is in talks to buy GrubHub in an all-stock deal, The Wall Street Journal reports. According to the WSJ’s sources, GrubHub wants 2.15 Uber shares for each GrubHubs share.Uber first approach

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What recruiters are saying about the tech job market right now

Given the endless drumbeat of layoff announcements — with deep cuts by Airbnb and Uber garnering much of the industry’s attention this week — it’s reasonable to wonder: what ha