ECOMMA

Amazon laid off some devices unit staff as it targets 10,000 cuts

November 16 (Reuters) – Amazon.com Inc. (AMZN.O) said on Wednesday it laid off some employees in its device group, with a person familiar with the company saying it was still targeting around 10,000 job cuts, including in its retail division and human resources. The announcement, Amazon’s first since news outlets including Reuters announced its layoff …

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China tech shares sink as U.S. export curbs raise chip sector hurdles

By Josh Horwitz and Jason Xue SHANGHAI, Oct 10 (Reuters) – Shares in Chinese tech giant Alibaba Group (9988.HK) and Tencent (0700.HK) and chipmakers fell on Monday as investors spooked by new US export controls aimed at slowing Beijing’s technological and military advancements. The Biden administration on Friday issued a sweeping set of export controls, …

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Exclusive: U.S. regulators to vet Alibaba, other Chinese firms’ audits -sources

Join now for FREE unlimited access to Reuters.com Register Alibaba notified of US audit inspection – sources Verification of audits of Chinese companies listed in the United States begins next month Follows landmark US-China audit agreement Alibaba shares fall nearly 3% HONG KONG, Aug 31 (Reuters) – U.S. regulators have picked e-commerce giant Alibaba Group …

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Exclusive: Tencent plans to divest Meituan stake worth $24 billion

Tencent seeks to initiate sale of Meituan stake this year – sources Sale seeks to appease regulators and monetize 8-year-old betting sources Sale of stake likely to be made as a block transaction – sources This decision comes after the sale by Tencent of JD.com and the participations of SEA Meituan shares sink 10%; Tencent …

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