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Apple and Amazon-led tech stock slump could spill into Asian trading

Apple and Amazon-led tech stock slump could spill into Asian trading

(ATF) Big tech stocks slumped on Tuesday May 4, with Apple falling almost 4%, Amazon down 3% and the Nasdaq index closing down by nearly 2%. Asian firms that have also benefited from growth stock investing could see similar selling pressure, though US-listed shares for Alibaba were not badly affected.Treasury …

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China’s e-commerce revolution gathers pace with fifth of sales online  

China’s e-commerce revolution gathers pace with fifth of sales online  

(ATF) China’s e-commerce sector continued to go from strength to strength with online retail sales reaching 2.81 trillion yuan in the first quarter of 2021, a year-on-year increase of 29.9%.According to the Ministry of Commerce, the online sales figures also revealed an average growth of 13.5% over two years, higher …

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Indian small traders fighting back against Amazon, Walmart-Flipkart

Indian small traders fight back Amazon, Walmart-Flipkart

(ATF) Thousands of angry Indian traders held an online summit on Thursday with trade associations and politicians to protest against Amazon and Walmart-owned Flipkart, for employing unfair trade practices and distorting the local retail market. The summit highlighted the various challenges they face and the grievances they hold against multinational …

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Musk’s Starlink faces its first Indian challenge

Musk’s Starlink faces its first Indian challenge

(ATF) When in India, do what all others do – that's the message that the country's telecom regulator seems to want to convey to Elon Musk’s satellite internet company Starlink, which is threatening to disrupt India’s fiercely competitive internet services.The Department of Telecommunications (DoT) has started examining whether Elon Musk-led …

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Amazon climbs down over pee-in-a-bottle denial 

Amazon climbs down over pee-in-a-bottle denial 

(ATF) Amazon has admitted its drivers carry more than just parcels - their cabs may also be littered with bottles of urine.The surprise revelation came when the e-commerce giant apologised for denying its drivers urinated in bottles. The original claim was made by deliverers, who said they are so hard …

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Biden names top critic of Big Tech to important antitrust position

Biden names top critic of Big Tech to important antitrust position

(ATF) The US moved a step closer to reining in Big Tech companies on March 22 with the nomination of another prominent critic for a key regulatory post.President Joe Biden named academic Lina Khan – who advocates breaking up the largest technology conglomerates – to the Federal Trade Commission (FTC), …

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US joins in antitrust scrutiny of Big Tech companies

US joins in antitrust scrutiny of Big Tech companies

(ATF) The US could be on the verge of joining the global anti-Big Tech push, as a top legislator was reported on Sunday to be preparing at least 10 bills targeting alleged anti-competitive behaviour.The US House of Representatives' Judiciary Committee’s anti-trust panel, released a 449-page report in October 2020 detailing …

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Bezos will spend $10bn in 9 years on climate

Bezos will spend $10bn in 9 years on climate

(ATF) Billionaire Amazon boss Jeff Bezos will spend $10 billion in the next nine years to help fight global warming.The businessman’s Earth Fund, set up earlier this year with $10 billion from his own pocket, plans to invest the money in companies geared towards fighting climate change by 2030, according …

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Amazon’s custom EVs for Indian roads could go global too

Amazon’s custom EVs for Indian roads could go global too

(ATF) Amazon’s trademark “smile” that has so far been seen on its delivery boxes and billboards in India has just turned electric. Customers from a few Indian cities will soon see custom-made electric three-wheelers delivering Amazon’s products as close to a hundred such EVs hit the road in seven cities …

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India's e-commerce chaos sparks calls for rewrite of regulations

India's e-commerce chaos sparks calls for rewrite of regulations

(ATF) Experts have called for a comprehensive rewrite of India's e-commerce laws – as new reports suggest that Amazon may not be playing by the rule book, and many Indian retailers allege that Amazon India and Walmart-owned Flipkart are harming their businesses by flouting local regulations.The goals, analysts say, should …

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