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18 Jan TikTok owner ByteDance looks to expand in US, Canada and Australia amid rising competition and political headwinds

Posted at 12:00h in Asia

ByteDance, which owns global short video hit TikTok, is looking to expand in Silicon Valley in the United States, and also in Canada and Australia as the sector continues to boom and amid rising competition.The company is in talks to sublease a large office building...

18 Jan China courts Davos with largest presence in years

Posted at 11:32h in Europe

Participants walk in the street of the Alpine resort of Davos during the World Economic Forum.Fabrice Coffrini | Afp | Getty ImagesDavos, SWITZERLAND — China returned to Davos in full force this week as it attempts to thaw relations with the international community and court...

18 Jan Energy giants Sinopec and BP to strengthen ties in China, explore potential cooperation in EV charging

Posted at 11:15h in Asia

China Petroleum & Chemical Corporation, better known as Sinopec, has reached an initial agreement with BP to extend their strategic partnership and explore opportunities in China’s new energy sector.The Chinese state-owned oil giant and the British multinational oil and gas company signed a memorandum of...

18 Jan Private-equity investors to return to China in search of M&A deals in 2024, Bain & Co says

Posted at 10:35h in Asia

Bain’s statement is significant because, despite a drop in deal volumes, mainland China still accounted for 41 per cent of deals in the Asia-Pacific region in the first half of 2023, according to S&P Global Market Intelligence.Mainland China reported 5,156 M&A deals in 2023, with...

18 Jan Vacationers searching for answers after finding chewed mattress, missing toilet seats at resort

Posted at 10:00h in Canada

A relaxing vacation in Cuba was what Jeff Phelps thought he was signing up for when he booked a 20th wedding anniversary trip with Sunwing. That's not what they got when they arrived at the Grand Memories Varadero, listed as a 4.5-star facility, during the holidays. The family opened the...

18 Jan Hong Kong retail: Chinese restaurant chain Peking Hotpot leases massive space in Central at 40% discount

Posted at 09:18h in Asia

Restaurants and retailers in Hong Kong are locking in leases for large spaces amid a revival in consumer sentiment and rising tourism numbers.A few lucky tenants are still finding bargains, as the city’s retail property sector continues to steadily recover from the onslaught of the...

18 Jan How green are those Stanley tumblers that everyone wants thanks to TikTok?

Posted at 09:00h in Canada

A gigantic tumbler that purportedly keeps drinks cold even if it's left in your burning car is the stainless steel status symbol of the moment. The 40 oz. Stanley Quencher H2.0 Flowstate tumbler (that's 1.18 litres for us metric system folks) has become so popular that...

18 Jan Could Red Sea attacks reignite supply chain chaos?

Posted at 09:00h in Canada

Shipping traffic through the Red Sea has "plummeted" as Houthi militants step up their attacks on vessels in the region.American-led airstrikes have done little to deter the disruption and now the CEO of one of the biggest shipping companies in the world says the disruption will probably...

18 Jan Apple chip supplier TSMC expects a return to ‘healthy growth’, backing hopes for global tech recovery in 2024

Posted at 08:38h in Asia

Taiwan Semiconductor Manufacturing Co (TSMC) expects a return to solid growth this quarter and gave itself room to raise capital spending this year, suggesting the world’s most valuable chip maker anticipates a recovery in smartphone and computing demand.The main semiconductor supplier to...

18 Jan AstraZeneca, Novartis, rival drug makers to buy renewable energy from Envision for manufacturing plants in China

Posted at 07:42h in Asia

AstraZeneca, Novartis and three other global drug makers have agreed to buy renewable energy from a Chinese supplier to run their manufacturing facilities on the mainland, helping to stem worsening emissions in the global healthcare industry.The duo, together with Roche, Lonza and Novo Nordisk, signed...

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