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ByteDance launches Volcano Engine brand to offer TikTok 'secret' to businesses

ByteDance launches Volcano Engine brand to offer TikTok 'secret' to businesses

ByteDance launched on Thursday its new Volcano Engine brand to offer the proprietary algorithm used to power TikTok's personalised recommendations to more corporate clients.
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G7 global tax plan may hit corporate titans unevenly

G7 global tax plan may hit corporate titans unevenly

An agreement by wealthy nations aimed at squeezing more tax out of large multinational companies could hit some firms hard while leaving others relatively unscathed, according to a Reuters analysis.
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Anti-poverty groups criticise rich countries over G7 tax deal

Anti-poverty groups criticise rich countries over G7 tax deal

Anti-poverty campaigners on Monday criticised a deal reached by seven wealthy countries to impose a minimum tax on multinational companies, saying it would benefit rich nations at the expense of the poor.
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Google to change global advertising practices in landmark antitrust deal

Google to change global advertising practices in landmark antitrust deal

Google said it would make changes to its global advertising business to ensure it did not abuse its dominance, bowing to antitrust pressure for the first time in a landmark settlement with French authorities. 
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Virus disaster leaves deep scars on India's economy

Virus disaster leaves deep scars on India's economy

Expectations for India’s economic growth are being revised sharply lower as a surge in people losing their jobs and defaulting on debt suggest a more halting recovery from the financial shock of the COVID-19 pandemic.
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U.S. sets and suspends tariffs on six countries over digital taxes

U.S. sets and suspends tariffs on six countries over digital taxes

The US on Wednesday announced 25% tariffs on over $2 billion worth of imports from six countries over their digital services taxes, but immediately suspended the duties to allow time for international tax negotiations.
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Britain launches consultation before starting India trade talks

Britain launches consultation before starting India trade talks

Britain is launching a 14-week consultation on a future trade deal with India, seeking the views of the public and business before trade minister Liz Truss hopes to begin talks later this year.
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ByteDance co-founder Zhang Yiming to step down as CEO

ByteDance co-founder Zhang Yiming to step down as CEO

Zhang Yiming, co-founder of TikTok owner ByteDance, told employees of the Chinese technology giant in a memo that he will step down as chief executive and be succeeded by co-founder Rubo Liang, the company said Thursday.
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Dufry first quarter turnover plunges on travel restrictions

Dufry first quarter turnover plunges on travel restrictions

Swiss duty free retailer Dufry reported on Thursday a 67% plunge in underlying first-quarter turnover to 460.3 million Swiss francs ($510 million), hit by travel restrictions to counter the pandemic.
Lifestyle
JD.com beats market expectations as Covid-19 boom persists

JD.com beats market expectations as Covid-19 boom persists

China's JD.com Inc's first-quarter revenue beat Wall Street estimates on Wednesday, as growth remained robust in the domestic e-commerce sector following the Covid-19 pandemic.
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U.S. state AGs urge Facebook to cancel plans for Instagram for younger kids

U.S. state AGs urge Facebook to cancel plans for Instagram for younger kids

A group of 40 state attorneys general on Monday urged Facebook Chief Executive Mark Zuckerberg to abandon plans to launch a version of Instagram for children under the age of 13.
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Kering luxury brand Bottega Veneta leases central Milan palace

Kering luxury brand Bottega Veneta leases central Milan palace

Bottega Veneta has rented a historic palace in the centre of Milan that will house the new offices of the brand owned by luxury goods group Kering, real estate asset management company COIMA SGR said.
Lifestyle
Instagram launches feature to tackle hate speech, abuse

Instagram launches feature to tackle hate speech, abuse

Facebook Inc's Instagram is rolling out a feature to prevent users from viewing possibly abusive messages by filtering offensive words, phrases and emojis on the photo-sharing app.
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Union files objections to Amazon election results, alleging layoffs were threatened

Union files objections to Amazon election results, alleging layoffs were threatened

A labor group that did not secure enough votes from Amazon warehouse workers in Alabama to form a union has formally objected to the election results and alleged Amazon threatened to lay off staff.
Fashion
Instagram launches test where users can choose to see likes

Instagram launches test where users can choose to see likes

Instagram is launching a small global test on Wednesday where users can choose whether to hide like counts on their own posts or other people's posts, a Facebook spokeswoman said.
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China's Ant to become financial holding firm under enforced revamp

China's Ant to become financial holding firm under enforced revamp

China's Ant Group, the fintech giant whose $37 billion IPO was derailed by risk-wary regulators days before it was due to list in November, will restructure as a financial holding company.
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