Chinese e-commerce company Pinduoduo’s stock fell more than 10% Friday on Nasdaq, after the online marketplace’s total volume of transactions failed to meet analysts’ expectations. Earlier on Friday, Pinduoduo said its revenue grew 67% in the quarter through June as merchants spent more money on ads amid China’s recovery from the coronavirus pandemic. But despite the discount shopping app’s...
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The Real CNN Drama is Cable News' Growing Irrelevance
To paraphrase Tolstoy, each unhappy TV channel is unhappy in its own way. And as illustrated by the leadup to the Wednesday exit of CNN’s CEO, Chris Licht, the cable news channel hasn’t been a happy place lately. That’s not likely to change now that Licht is gone. Beyond the gossipy drama behind his departure is the reality that CNN and its corporate parent, Warner Bros. Discovery, are both...
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