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Facebook Launches Shopping Platform for Small Businesses
CEO Mark Zuckerberg says the virtual shops will aim to counter Covid-19's ‘economic shock’.
World
Arizona sues Google over claims it illegally tracked location of Android users
Arizona claims Google is illegally collecting information on the whereabouts of its users even after they opt out of providing access to location data.
Masayoshi Son's SoftBank Is Planning to Fire 10% of Staff
SoftBank Group Corp.’s Vision Fund is planning deep cuts in staffing after reporting about $18 billion in losses from the declining value of its startups, according to people familiar with the matter.
New Zealand media group Stuff to be sold to chief executive Sinead Boucher for NZ$1
Boucher - who has plans for a staff ownership model - says the acquisition gives the company ‘a chance to do things differently’
- U.S. forced labor laws strain China-dependent garment supply chains 1
- Southeast Asia's internet economy growth to slow in 2023 2
- Southeast Asia's fintechs fill lending gap with data 3
- Thai, Singapore tech firms surge in market value 4
- Global rice supplies tighten after India's July export ban 5
- Domino effect: India rice export ban puts market on edge for copycat curbs 6
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Toyota, Nissan and Honda gear up for Mexico reboot after COVID-19 lockdowns
Japanese automakers Toyota, Nissan and Honda said they are gradually restarting in Mexico as the nation’s automotive industry reboots in line with a broader economic reopening, despite still-high numbers of coronavirus cases.
US billionaires add $434 billion to their fortunes during the pandemic
A new survey shows that American billionaires’ fortunes grew by $434 billion during the US lockdown between mid-March and mid-May, CNBC reported.
Apple to produce up to $40 billion worth of smartphones in India
Apple plans to shift nearly a fifth of production capacity from China to India, scaling up its local manufacturing revenues to around $40 billion over next five years, India Times cited official.
Thailand's cabinet approves plan for Thai Airways bankruptcy court ...
The cabinet approved a plan to bring Thai Airways International Plc to bankruptcy court for debt restructuring, the prime minister said on Tuesday.
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SoftBank Vision Fund Posts $17.7 Billion Loss on WeWork, Uber
SoftBank Group Corp. said its Vision Fund business lost 1.9 trillion yen ($17.7 billion) last fiscal year after writing down the value of investments, including WeWork and Uber Technologies Inc.
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Japan's Jan.-March GDP shrinks 3.4%, second straight quarterly ...
Japan's economy contracted at an annualized pace of 3.4%, showing that the world's third-largest economy was in a technical recession even before the country declared the coronavirus outbreak.
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National airline Thai Airways is under bankruptcy option
Filing for bankruptcy is an option for the rehabilitation of Thai Airways International (THAI), and the cabinet will make the final decision, Finance Minister Uttama Savanayana said last week
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COVID-19 could cost the global economy up to $8.8 trillion, ADB says
The global economy could suffer between $5.8 trillion and $8.8 trillion in losses, equivalent to 6.4% to 9.7% GDP due to the novel coronavirus pandemic, says the Asian Development Bank.
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Cambodia pushes hard on free-trade agreements
Cambodia’s government is pushing for free-trade agreement talks with potential partners while seeking Russian’s help for a Eurasian Economic Union free trade agreement.
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Despite U.S. Sanctions, China closes in on 70% of world's 5G ...
China is on track to sign 70% of 5G smartphone contracts this year, putting it far ahead of the rest of the world in deploying the next-generation communications standard.
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China's Xiaomi and Oppo join the race to become global fintech ...
Xiaomi and Oppo are betting big on their global fintech ambitions by joining the race to become global fintech powerhouses.
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KKR leads $43 million investment round in Slice pizza platform
U.S. private equity firm KKR & Co Inc said it led an investor group making a $43 million investment in Slice, an online delivery platform for local pizza shops across the country.
