Category: Global

Chinese Parliament endorses Xi’s leadership for a rare third 5-year term

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Chinese Parliament unanimously authorized President Xi Jinping to serve for a third five-year term on Friday Chinese Parliament on Friday unanimously endorsed an unprecedented third five-year term for President Xi Jinping. Xi, 69, was re-elected by the once-in-a-five-year Congress of the ruling Communist Party of Chinese Parliament (CPC) as its leader in October last year, becoming the first Chinese…

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Global

Ant Group, backed by Jack Ma, plans to reduce its Paytm stake in 2023

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Ant Group A Chinese fintech giant has been in talks to reduce its stake in One 97 Communications Ltd. after the company’s share percentage increased passively as a result of share buybacks. Ant Group Co. is considering selling some of its shares in the operator of Indian financial technology firm Paytm to keep its holding within a required…

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Global, India

Facebook-parent Meta plans more layoffs, affecting thousands : Report 1

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Last year, the social media giant said it will let go of 13% of its workforce, or more than 11,000 employees, as it grappled with soaring costs and a weak advertising market Facebook-parent Meta Platforms Inc is planning a fresh round of job cuts in a reorganization and downsizing effort that could affect thousands of…

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Global

Hindenburg effect: Adani plots a comeback following a $132 billion loss

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Hindenburg effect : It hopes to claw back the narrative with this playbook and calm jittery investors and lenders with this ports-to-power conglomerate headed by Adani, once Asia’s richest person. Almost a month after a bombshell short seller report lopped off $132 billion in market value from Gautam Adani’s empire, the Indian billionaire has hired top-shelf…

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India, Global

Hindenburg turmoil threatens Adani’s $2.5 billion FPO

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Hindenburg : While it seeks to execute the landmark share sale, Adani refutes allegations by Hindenburg that the Indian conglomerate used companies in tax havens to inflate its revenues and stock prices Tuesday marks a critical day for Asia’s richest man Gautam Adani as his flagship firm closes books on a 200-billion rupee ($2.5 billion) share sale…

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Global, India

Akio Toyoda , The former Popular CEO of Toyota, will continue to be a force in the company even after he leaves in 2020

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Akio Toyoda’s announcement was not met with much market reaction; the automaker’s stock price barely changed on Friday. Toyota Motor Corp chief Akio Toyoda is set to remain a dominant force inside the world’s largest automaker for years to come, and will continue to influence the agenda after stepping down in April, experts and people familiar…

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Global

Twitter whistleblower says breaches of privacy continued during Musk’s tenure. 0

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Twitter whistleblower does not have the capability to log if engineers use GodMode. A new Twitter whistleblower has told Congress that Twitter Inc. continued to violate privacy and data security protections into the Elon Musk era, potentially risking legal action including hefty penalties.  As many as 4,000 company employees could access an internal function nicknamed “GodMode” that allows them…

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Global

Ad-technology unit in Google is the target 0f a heated antitrust lawsuit by the US

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Google’s ad-technology, the lawsuit “tries to pick winners and losers in a highly competitive market” According to Google. The US Justice Department and eight states sued Alphabet Inc.’s Google, calling for the break up of the search giant’s ad-technology business over alleged illegal monopolization of the digital advertising market. “The lawsuit we have filed today…

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Global