Tencent and Alibaba pledge to open up apps to competitors

Business

Financial Times 13 September, 2021 - 08:10am 4 views

Beijing orders Alibaba, Tencent, more Big Tech to stop blocking links to rivals

The Register 13 September, 2021 - 08:45pm

Beijing has yet again slapped regulations on Big Tech in China. This time, the Ministry of Industry and Information Technology (MIIT) has told app makers and web sites to stop blocking links to their rivals, or face the consequences.

In a Q&A session at the start of the week on manufacturing and cyber development, MIIT spokesperson Zhao Zhiguo said this practice of restricting access to external services damages the rights of users and unfairly disrupts the market.

The g-man said the action was prompted by complaints logged by the Ministry, and added that companies would be allowed to self-examine and correct their policies before any punishment is decided.

"We are going to step up regulation, supervision and monitoring through a number of means. We hope that these problems can be rectified. For those enterprises who are failing to correct their measures, we will issue punishments," said Zhao speaking in Chinese, adding: "Eventually we are going to form an ecosystem where different platforms can access one another without blockage without limitation."

Zhao did not specify what the consequences would be for organizations that failed to abide by the new rules. He also did not specify which companies triggered the regulations, although he did cite instant-messaging platforms as a potential offender.

That said, a Chinese publication reported Alibaba and Tencent attended a meeting with the Ministry on September 9 in which they were informed of the incoming rules and were told to end the practice of blocking access to competitors. Both businesses later said they agreed to fall in line. Huawei, Baidu, ByteDance, and Xiaomi were also in attendance.

This behavior of preventing access to rival services is – or rather was – commonplace in China. For example, Tencent's payment platform WeChat Pay is unavailable when using Alibaba's e-commerce sites, and Alibaba's services can't be used via WeChat Pay, either.

Furthermore, ByteDance, the maker of TikTok, sued Tencent in February, alleging the latter's WeChat and QQ messaging services wouldn't allow links to content on the Chinese version of TikTok, Douyin.

Recently Beijing instituted a slate of regulations and crackdowns on tech companies, including those that prevent monopolistic behavior. In July, the Chinese government's antitrust watchdog State Administration of Market Supervision (SAMR) banned the merger of Tencent gaming outfits Huya and DouYu.

Alibaba’s finance arm Ant Group was forced to restructure its loans business before being allowed to operate as a consumer finance company in June.

Back in November 2020, SAMR announced a complete overhaul of anti-monopoly laws, including a review of consumer-protection rules and truth in advertising, and pondering whether the structure of the market in the internet-era permits competition.

But it's not just monopolistic behavior that the Chinese government is looking to control and curtail. Data management and storage is another area Beijing has used to lasso in industry.

In July 2021, Chinese Uber-like DiDi was booted from the nation's app stores on the grounds it was not compliant with Beijing's privacy rules just ahead of its US IPO.

In May, the Cyberspace Administration of China (CAC) ordered 105 apps to stop improperly collecting and using personal data, including LinkedIn, Big, Douyin, TikTok and Baidu.

As for Alibaba and Tencent, shares fell on Monday for both in the single digits. For Alibaba, the fall comes amid reports that Beijing seeks to break up its financial payments arm Alipay. ®

Financial software specialist Intuit has splashed the cash to branch out into the world of email newsletters, throwing $12bn (around £8.7bn) at Mailchimp as part of its effort to "become an AI-driven expert platform."

The deal will see Intuit, best known for its TurboTax and QuickBooks software packages, spend $12bn in cash and stock – "subject," the company noted, "to customary adjustments for transactions of this nature" and including a total of $500m in restricted stock units for Mailchimp employees – to acquire email marketing platform Mailchimp, founded in 2001 and now employing north of 1,200 people.

The buy, Intuit claimed, centres around its previously published "Big Bet" series of strategic goals, a list of five somewhat woolly statements around which the company is focusing: "Revolutionise speed to benefit, connect people to experts, unlock smart money decisions, be the centre of small business growth, [and] disrupt the small business mid-market."

After spending five years poring over port scan results, infosec firm Imperva reckons there's about 12,000 vulnerability-containing databases accessible through the internet.

The study also found that of the 46 per cent of 27,000 databases scanned, just over half that number contained "high" or "critical" vulns as defined by their CVE score.

The news might prompt responsible database owners to double-check their updates and patching status, given the increasing attractiveness of databases and their contents to criminals and hostile foreign states alike.

Register Debate Welcome to the latest Register Debate in which writers discuss technology topics, and you – the reader – choose the winning argument. The format is simple: we propose a motion, the arguments for the motion will run this Monday and Wednesday, and the arguments against on Tuesday and Thursday. During the week you can cast your vote on which side you support using the poll embedded below, choosing whether you're in favour or against the motion. The final score will be announced on Friday, revealing whether the for or against argument was most popular.

Analysts are upping sales projections for Open RAN tech despite the recent kerfuffle that saw Nokia step out of an industry alliance intended to heighten competition in telco networking.

The Alliance itself said yesterday that it remains "fully committed to its mission of delivering open, intelligent, virtualized and fully interoperable RAN."

The whitebox radio tech is increasingly being promoted as an answer by politicians insisting that partial and effective bans on Huawei – for many years the biggest head-to-toes mobile radio comms kit vendor – will create market competition issues.

Games Workshop, the UK's fantasy model maker and table-top wargames retailer, has been forced to stall the development of a new online shopping system because of delays to its ERP project.

In its annual report [PDF], the company said that while online sales were up 70 per cent compared to the same period last year, more than making up for the sales volume shortfall during lockdown store closures, its website is "looking a little dated and the back-end systems at times cannot cope with current volumes."

The current online system was "clearly not a long-term solution or as customer focussed as we would like it to be," the company said.

Bork!Bork!Bork! Bork is apparently going live, as a segment in UK breakfast show Good Morning Britain neglects to consider Microsoft's thirst for power – of the electrical variety, of course.

Spotted by Register reader John O'Connell, the borkage was beamed live into the nation's homes following education secretary Gavin Williamson's gaffe in which he mixed up footballer Marcus Rashford with rugby union player Maro Itoje.

Facebook has developed promising asymmetric compression technology and aspires to share it with the world.

Dubbed "Superpack" and detailed in a post by Facebook Engineering software engineer Sapan Bhatia, the tech "combines compiler analysis with data compression to uncover size optimizations beyond the capability of traditional compression tools".

Bhatia explains that Facebook needs compression because its apps keep bloating, but users don't want bigger apps. Algorithmic options such as Deflate and LZMA can certainly do a job, but Bhatia said they "work well with monolithic data" but "weren't enough to offset the pace of growth we were seeing in our apps".

UK-headquartered Kape Technologies announced on Monday it has acquired ExpressVPN in a $936m (£675m) cash and stocks deal, a move it claims will double its customer base to at least six million.

In a canned statement, Kape said combining the two companies would "create a premium consumer privacy and security player," and that the acquisition "further positions Kape to define the next generation of privacy and security protection tools and services to return greater control over the digital sphere to consumers."

South Korea's Fair Trade Commission has fined Google ₩207 billion (US$177M) for abusing its market dominance in mobile operating systems by prohibiting forks of Android.

As explained in an announcement, the Commission took exception to Google's practice of requiring companies that sought early access to information about forthcoming Android releases – essential info for handset-makers – to sign an anti-fragmentation agreement (AFA) that prohibited them from forking Android.

Without signing the AFA, handset-makers were also denied the chance to sign a Mobile Application Distribution Agreement (MADA) that allows installation of Google's Play store, Google Search, and YouTube on their devices. The Commission explains the chilling effect the two agreements imparted by revealing that LG helped Amazon.com to develop its Fire Tablet – a cheap device running an Android fork. But after prototypes had been developed, LG realised the AFA and MADA agreements were a risk to its access to Android for its own-brand devices, so stopped working on the Bezosian tablet.

Australia's Federal Police force on Sunday announced it intends to start using new powers designed to help combat criminal use of encryption by taking over the accounts of some social media users, then deleting or modifying content they've posted.

The law also requires sysadmins to help those account takeovers.

The force (AFP) stated its intentions in light of the late August passage of the Surveillance Legislation Amendment (Identify and Disrupt) Bill 2021, which was first mooted in December 2020. While the Bill was subject to consultation, few suggestions were incorporated and in August the Bill sped through Australia's Parliament after two days of superficial debate with many suggested amendments ignored.

The ASEAN economic and free trade bloc has agreed to develop a digital trade pact, and South Korea wants to play.

ASEAN has ten members that collectively have about the same economic heft as the UK or France, and negotiate as one on trade matters with other blocs like the European Union. Bloc members Indonesia, Vietnam, and the Philippines are seen as likely to grow very quickly in coming years, making ASEAN of considerable importance to global trade and diplomacy.

The bloc's ministers with economic responsibilities have met over the last week, and one item they've agreed on is the "ASEAN Digital Transformation Agenda to Accelerate ASEAN's Economic Recovery and Digital Economy Integration" – a document that describes a plan "to deepen ASEAN's digital integration and connectivity from 2021 to 2025 against the backdrop of COVID-19".

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Bargain Hunters in China Are Facing Setbacks. Here Are the Latest Pain Points.

Barron's 13 September, 2021 - 01:25pm

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Investors looking for deals among Chinese internet stocks have been reminded of the near-term dangers. 

Stocks of companies like Tencent Holdings, Alibaba Group, and NetEase are dropping again as Beijing’s regulatory onslaught continues. A potential worsening of tensions between the U.S. and China is adding to the downward pressure.

Investors looking for deals among Chinese internet stocks have been reminded of the near-term dangers.

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China Tells Internet Companies to Stop Blocking Links From Rivals

The Wall Street Journal 13 September, 2021 - 08:07am

Authorities have made the move against blocking external links a key focus of a campaign that started in July, after receiving multiple complaints from users, an official with the Ministry of Industry and Information Technology said Monday.

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China Tech Shares Slide on Latest Volley of Internet Curbs

Yahoo Finance 13 September, 2021 - 04:27am

Traders mulled a report that the government intends to break up Ant Group Co.’s Alipay business, a Friday statement calling for better protection of gig economy workers’ rights and the latest warning against blocking links to rival services. The Hang Seng Tech Index finished 2.3% lower, with Meituan, Alibaba Group Holding and Tencent Holdings Ltd. dragging on the gauge. Chinese stocks listed in the U.S. fell in premarket trading.

Major platform operators must review working conditions of gig economy workers to ensure their rights in income and labor safety, according to a government statement issued late Friday. That came after a meeting between four government agencies and 10 major platform companies, including Meituan, Alibaba and Tencent.

Separately, China is seeking to break up Ant Group Co.’s Alipay and create a separate app for its loan business, the Financial Times reported, citing people familiar with the plan. Regulators have already ordered the company to separate the back end of the lending unit from the rest of its financial offerings and bring in outside shareholders, it said.

“I believe the market is still finding the bottom valuation of Chinese internet stocks,” said Fan Cheuk Wan, Asia chief investment officer for Private Banking and Wealth Management at HSBC Holdings Plc, on Bloomberg TV. “The regulatory tightening is not yet over, we think the market will remain volatile, companies will still be very sensitive to news.”

Chinese authorities have asked internet companies to rectify wrongdoings at several gatherings in recent weeks, though have held back from heavy handed curbs like the shock ban on profits at tutoring companies in late July.

The country’s top technology regulator warned companies in the sector on Monday against blocking links to rival services, reaffirming Beijing’s order for online giants from Tencent to ByteDance Ltd. to dismantle walls around their platforms.

READ: China Tech Watchdog Warns Internet Firms Against Blocking Rivals

“In general, I think recent policies have become softer, since they do not have dramatic impact on those companies’ fundamentals,” said Steven Leung, an executive director at UOB Kay Hian (Hong Kong) Ltd. “Still, it’s not helping the market confidence to restore.”

The Hang Seng Tech gauge is down 22% so far this year, though has rebounded about 12% from an August low.

READ: China Tech Stocks Stumble in Rush Back Toward Bull Market

(Updates with U.S. premarket trading in second paragraph.)

More stories like this are available on bloomberg.com

Subscribe now to stay ahead with the most trusted business news source.

SHANGHAI (Reuters) -China Evergrande Group's struggles to quickly sell off assets and avert defaulting on its 1.97 trillion yuan ($305.3 billion) in liabilities is raising the risk of contagion for other privately-owned developers, fund managers and analysts say. Worries over the country's No.2 property developer's ability to make bank loan interest and wealth management product payments have led to a worsening sell-off in its bonds and shares in the past week. Evergrande's offshore bonds have dropped to less than a quarter of their face value, trading of its onshore bonds has been paused, and a stock price rout has deepened, knocking more than three-quarters off its market capitalisation this year.

Evergrande has also seen a rare protest staged by investors at its headquarters in Shenzhen.

Stocks of companies like Tencent Holdings, Alibaba Group, and NetEase are dropping again as Beijing’s regulatory onslaught continues.

Big-time bargains can still be found in this high-growth index.

Moderna stock tumbled as scientists argued against Covid vaccine booster shots. InMode stock sold off.

China stocks continued a long-term crash as a regulatory crackdown that began in November has intensified.

Beijing plans to break up billionaire Jack Ma's digital payments empire as the Communist regime continues a swingeing crackdown on Chinese big tech.

These companies produce the only thing that matters.

Cathie Wood, founder and CEO of Ark Investment Management, which manages more than $50 billion in assets, said that she's keeping an eye on the explosive growth of non-fungible tokens, or NFTs, though she doesn’t hold any.

Interest rates are low, and that's bringing more fixed-income investors into the equity market. There are plenty of solid dividend payers out there, but some stocks are cruising for a bruising with their fundamentals relative to their payout levels.

There's still some opportunity among large-cap internet stocks, but investors should steer clear of two names, according to Goldman Sachs.

It’s been a wild ride this past summer. Perhaps the least we can say of the macro situation is, at least it wasn’t as wild as 2020 – but 2021 has had its share headlines hitting the markets. One thing is clear, however: stocks have weathered the storm. The S&P 500 index is up 19% so far this year, and the NASDAQ has gained 17%. Looking at the macro situation for JPMorgan, strategist Marko Kolanovic notes the confused headwinds and tailwinds, and comes down firmly for the bulls. “The peak in acti

As regulatory pressure ramps up on crypto, one stablecoin is exploding for its distance from the traditional banking system.

SmileDirectClub Inc (NASDAQ: SDC) is trading higher on abnormally high volume during Monday's session as traders on social media circulate the stock, highlighting its high short interest. The average session volume is about 6.5 million. The daily trading volume for Monday's session was over 42 million. SmileDirectClub was one of the top three trending stocks on Stocktwits at publication time. The percentage of the float sold short is about 33%, according to data from Benzinga Pro. SmileDirectClu

This technology company has grown steadily over the years and holds the promise for more amazing discoveries in the future.

Top news and what to watch in the markets on Tuesday, September 14, 2021.

Factbox-China crackdown wipes hundreds of billions off top companies' values

Yahoo Finance 13 September, 2021 - 12:41am

Here are some of the largest names that have been affected so far:

The woes of China's biggest e-commerce company began in late 2020 when China abruptly suspended the record $37 billion stock market debut of its financial affiliate Ant Group and later fined Alibaba $2.75 billion for abusing its market dominance.

The company's U.S.-listed shares have shed more than $400 billion in value since late October, when its founder Jack Ma made a speech that blasted China's regulatory system, which is widely regarded as the trigger for the government backlash that followed.

Alibaba's sprawling empire of businesses has continued to face heat from regulators, over issues ranging from their use of algorithms, to consumer privacy and worker protections.

China's largest gaming and social media company has lost more than HK$2.7 trillion ($347.13 billion) in market value since its shares reached an all-time high in mid-February.

The company has been fined for failing to report past deals to anti-trust regulators, its $5.3 billion plan to merge China's top two videogame streaming sites was blocked and it has been barred from entering music copyright agreements.

Tencent has also been affected by China's latest efforts to combat gaming addiction among minors. In August under-18-year- olds were banned from playing video games for more than three hours a week.

China's largest ride-hailing company became the target of a cybersecurity investigation by Chinese authorities days after its New York initial public offering in June, who ordered its app to be removed from Chinese app stores and barred it from registering new users.

Its shares have lost about $37 billion, or more than 40%, of their value since it raised $4.4 billion from its June 30 IPO.

The company has also been criticised by state media over how it pays its drivers. Reuters has reported that Didi is in talks with state-owned Westone Information Industry Inc to handle its data management and monitoring activities.

The food delivery company became the target of an antitrust probe in April and experienced a sell off in its shares a month later after its founder and Chief Executive Wang Xing posted an ancient poem on social media that was perceived by some as criticising the government and President Xi Jinping.

Meituan, whose share have lost more than HK$1.2 trillion ($154.28 billion) in value since reaching their all time-high in February, has also been criticised on other matters, including treatment of its delivery riders and violation of consumer rights.

NEW ORIENTAL EDUCATION & TECHNOLOGY GROUP

China's largest provider of private educational services has seen the market value of its U.S.-listed shares fall by $7.4 billion since July, when Beijing issued new rules barring for-profit tutoring on the school curriculum.

Beijing wants to ease pressure on school children and reduce a cost burden on parents that has contributed to a drop in birth rates but analysts warn that the new rules threaten to decimate the country's private education sector.

The company and its peers have been since trying to promote alternative classes such as drama and even parental training.

($1 = 7.7781 Hong Kong dollars)

(Reporting by Brenda Goh; Editing by Muralikumar Anantharaman)

On a bigger stage and in front of a wider audience, Hashem Arkhaga is ready to shine.

The Korea Fair Trade Commission has imposed a $177 million fine on Google, accusing the tech giant of hampering the development of Android rivals.

Sayyed Hassan Nasrallah, leader of Lebanon's armed Shi'ite movement Hezbollah, said on Monday that a first ship carrying Iranian fuel oil to help Lebanon through its financial crisis had docked in Syria on Sunday. Nasrallah had announced last month that he had organised purchases of fuel from Iran, Hezbollah's main backer but subject to U.S. economic sanctions, to ease a crippling shortage. Nasrallah thanked Syria for receiving the shipment and facilitating its transfer, and said it would reach Lebanon by Thursday.

China stocks continued a long-term crash as a regulatory crackdown that began in November has intensified.

After “Dune,” the upcoming cinematic retelling of Frank Herbert’s landmark 1965 sci-fi novel, had its world premiere at Venice Film Festival, critics — even those who weren’t particularly enthused about the movie — made a point of saying the striking visuals demanded to be seen on the big screen. The reason that so many chose […]

Tanzania's President Samia Suluhu Hassan has appointed a politician dismissed for criticising her predecessor as energy minister in a cabinet reshuffle that also included the nomination of the country's first female defence minister.

BlackRock's chief investment officer of global fixed income Rick Rieder breaks down why he owns cryptocurrencies on Yahoo Finance Live.

UFC announcer Bruce Buffer was brought in to pump up the crowd before the Las Vegas Raiders took on the Baltimore Ravens.

The former mayor went on a rambling rant where he called the Chairman of the Joint Chiefs an "asshole" and "idiot" and claimed he "never was with a woman or young girl with" Prince Andrew

North Korea ended a year-long pause in ballistic tests in March by firing two short-range missiles into the sea, continuing a tradition of gauging the response posture of new U.S. administrations.

All films set to come out 2021 will be released in cinemas, handing a boost to struggling venues.

Toast Inc (NYSE: TOST) aims for a valuation of over $16 billion in its U.S. initial public offering (IPO), based on the expected 499.3 million shares of Class A common stock and Class B common stock outstanding after this offering. The technology platform purpose-built for the restaurant community proposes selling 21.74 million Class A shares priced at an estimated $30 - $33 per share to raise a maximum of $717.4 million. The IPO coincides with a pandemic-driven boom in demand for food delivery

Suu Kyi, 76, who has been detained on various charges since her overthrow in a Feb. 1 military coup, did not have the coronavirus but felt ill having not traveled in a vehicle for a long time, lawyer Min Min Soe said. Suu Kyi's only communication with the outside world has been through her legal team, which says its access to her is limited and monitored by authorities.

TOKYO (Reuters) -Japan must counter neighbouring China's assertiveness by beefing up the coast guard and improving its coordination with the military, Fumio Kishida, a contender to head the ruling party and become the next prime minister, said on Monday. Only lawmakers and grassroots members of the ruling Liberal Democratic Party (LDP) will vote for its chief in a Sept 29. "The security environment around Japan is getting tougher," Kishida told a news conference.

Norway's presumptive next prime minister is a man born into wealth and privilege who became an unlikely leader of the Labour Party, traditionally seen as the political voice of the working class and which built the country's welfare state. Overcoming his 2017 election defeat and internal party turmoil, Jonas Gahr Stoere, 61, is expected to replace https://www.reuters.com/world/europe/norway-opposition-expected-win-election-fought-oil-inequality-2021-09-13 Conservative Prime Minister Erna Solberg, 60, as tallies showed a decisive swing in favour of the centre-left. A former foreign minister and health minister, Stoere has led Labour since 2014 but stumbled at his first attempt to win power in 2017 as Solberg's Conservative-led coalition came from behind to win a second term.

Cathie Wood, founder and CEO of Ark Investment Management, which manages more than $50 billion in assets, said that she's keeping an eye on the explosive growth of non-fungible tokens, or NFTs, though she doesn’t hold any.

Interest rates are low, and that's bringing more fixed-income investors into the equity market. There are plenty of solid dividend payers out there, but some stocks are cruising for a bruising with their fundamentals relative to their payout levels.

Factbox-China crackdown wipes hundreds of billions off top companies' values

Financial Times 13 September, 2021 - 12:41am

Here are some of the largest names that have been affected so far:

The woes of China's biggest e-commerce company began in late 2020 when China abruptly suspended the record $37 billion stock market debut of its financial affiliate Ant Group and later fined Alibaba $2.75 billion for abusing its market dominance.

The company's U.S.-listed shares have shed more than $400 billion in value since late October, when its founder Jack Ma made a speech that blasted China's regulatory system, which is widely regarded as the trigger for the government backlash that followed.

Alibaba's sprawling empire of businesses has continued to face heat from regulators, over issues ranging from their use of algorithms, to consumer privacy and worker protections.

China's largest gaming and social media company has lost more than HK$2.7 trillion ($347.13 billion) in market value since its shares reached an all-time high in mid-February.

The company has been fined for failing to report past deals to anti-trust regulators, its $5.3 billion plan to merge China's top two videogame streaming sites was blocked and it has been barred from entering music copyright agreements.

Tencent has also been affected by China's latest efforts to combat gaming addiction among minors. In August under-18-year- olds were banned from playing video games for more than three hours a week.

China's largest ride-hailing company became the target of a cybersecurity investigation by Chinese authorities days after its New York initial public offering in June, who ordered its app to be removed from Chinese app stores and barred it from registering new users.

Its shares have lost about $37 billion, or more than 40%, of their value since it raised $4.4 billion from its June 30 IPO.

The company has also been criticised by state media over how it pays its drivers. Reuters has reported that Didi is in talks with state-owned Westone Information Industry Inc to handle its data management and monitoring activities.

The food delivery company became the target of an antitrust probe in April and experienced a sell off in its shares a month later after its founder and Chief Executive Wang Xing posted an ancient poem on social media that was perceived by some as criticising the government and President Xi Jinping.

Meituan, whose share have lost more than HK$1.2 trillion ($154.28 billion) in value since reaching their all time-high in February, has also been criticised on other matters, including treatment of its delivery riders and violation of consumer rights.

NEW ORIENTAL EDUCATION & TECHNOLOGY GROUP

China's largest provider of private educational services has seen the market value of its U.S.-listed shares fall by $7.4 billion since July, when Beijing issued new rules barring for-profit tutoring on the school curriculum.

Beijing wants to ease pressure on school children and reduce a cost burden on parents that has contributed to a drop in birth rates but analysts warn that the new rules threaten to decimate the country's private education sector.

The company and its peers have been since trying to promote alternative classes such as drama and even parental training.

($1 = 7.7781 Hong Kong dollars)

(Reporting by Brenda Goh; Editing by Muralikumar Anantharaman)

On a bigger stage and in front of a wider audience, Hashem Arkhaga is ready to shine.

The Korea Fair Trade Commission has imposed a $177 million fine on Google, accusing the tech giant of hampering the development of Android rivals.

Sayyed Hassan Nasrallah, leader of Lebanon's armed Shi'ite movement Hezbollah, said on Monday that a first ship carrying Iranian fuel oil to help Lebanon through its financial crisis had docked in Syria on Sunday. Nasrallah had announced last month that he had organised purchases of fuel from Iran, Hezbollah's main backer but subject to U.S. economic sanctions, to ease a crippling shortage. Nasrallah thanked Syria for receiving the shipment and facilitating its transfer, and said it would reach Lebanon by Thursday.

China stocks continued a long-term crash as a regulatory crackdown that began in November has intensified.

After “Dune,” the upcoming cinematic retelling of Frank Herbert’s landmark 1965 sci-fi novel, had its world premiere at Venice Film Festival, critics — even those who weren’t particularly enthused about the movie — made a point of saying the striking visuals demanded to be seen on the big screen. The reason that so many chose […]

Tanzania's President Samia Suluhu Hassan has appointed a politician dismissed for criticising her predecessor as energy minister in a cabinet reshuffle that also included the nomination of the country's first female defence minister.

BlackRock's chief investment officer of global fixed income Rick Rieder breaks down why he owns cryptocurrencies on Yahoo Finance Live.

UFC announcer Bruce Buffer was brought in to pump up the crowd before the Las Vegas Raiders took on the Baltimore Ravens.

The former mayor went on a rambling rant where he called the Chairman of the Joint Chiefs an "asshole" and "idiot" and claimed he "never was with a woman or young girl with" Prince Andrew

North Korea ended a year-long pause in ballistic tests in March by firing two short-range missiles into the sea, continuing a tradition of gauging the response posture of new U.S. administrations.

All films set to come out 2021 will be released in cinemas, handing a boost to struggling venues.

Suu Kyi, 76, who has been detained on various charges since her overthrow in a Feb. 1 military coup, did not have the coronavirus but felt ill having not traveled in a vehicle for a long time, lawyer Min Min Soe said. Suu Kyi's only communication with the outside world has been through her legal team, which says its access to her is limited and monitored by authorities.

Toast Inc (NYSE: TOST) aims for a valuation of over $16 billion in its U.S. initial public offering (IPO), based on the expected 499.3 million shares of Class A common stock and Class B common stock outstanding after this offering. The technology platform purpose-built for the restaurant community proposes selling 21.74 million Class A shares priced at an estimated $30 - $33 per share to raise a maximum of $717.4 million. The IPO coincides with a pandemic-driven boom in demand for food delivery

TOKYO (Reuters) -Japan must counter neighbouring China's assertiveness by beefing up the coast guard and improving its coordination with the military, Fumio Kishida, a contender to head the ruling party and become the next prime minister, said on Monday. Only lawmakers and grassroots members of the ruling Liberal Democratic Party (LDP) will vote for its chief in a Sept 29. "The security environment around Japan is getting tougher," Kishida told a news conference.

Norway's presumptive next prime minister is a man born into wealth and privilege who became an unlikely leader of the Labour Party, traditionally seen as the political voice of the working class and which built the country's welfare state. Overcoming his 2017 election defeat and internal party turmoil, Jonas Gahr Stoere, 61, is expected to replace https://www.reuters.com/world/europe/norway-opposition-expected-win-election-fought-oil-inequality-2021-09-13 Conservative Prime Minister Erna Solberg, 60, as tallies showed a decisive swing in favour of the centre-left. A former foreign minister and health minister, Stoere has led Labour since 2014 but stumbled at his first attempt to win power in 2017 as Solberg's Conservative-led coalition came from behind to win a second term.

Cathie Wood, founder and CEO of Ark Investment Management, which manages more than $50 billion in assets, said that she's keeping an eye on the explosive growth of non-fungible tokens, or NFTs, though she doesn’t hold any.

Interest rates are low, and that's bringing more fixed-income investors into the equity market. There are plenty of solid dividend payers out there, but some stocks are cruising for a bruising with their fundamentals relative to their payout levels.

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