Richard Liu, founder and CEO of Chinese e-commerce giant JD.com, will donate about $2.3 billion in stock to charity, the company said. JD.com, whose shares are listed on Nasdaq, announced Liu’s decision in a regulatory filing. Liu’s move comes as Chinese tech billionaires are coming under more scrutiny from the Chinese government. As Beijing has tightened its control over the country’s...
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How Instagram’s TikTok Envy Finally Backfired
Last month, Kim Kardashian, Kylie Jenner and other influencers stirred up a public relations firestorm for Instagram, complaining to their hundreds of millions of followers about the app's recent attempts to mimic TikTok. Those efforts were just part of a broader internal effort to take on the Chinese short-form video app, though. The Information has learned that recent tests of changes to...
China’s Economy Slows Amid Soaring Youth Unemployment
China’s Tech Giants Alibaba and ByteDance Share Algorithms With Government
Peloton Announces Job Cuts, Store Closures and Price Hikes
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