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BUSINESS

Pfizer to Make $2.3 Billion Deal to Acquire Trillium, Blood Cancer Drugmaker
On Monday, Pfizer Inc. announced it would buy Canadian drug developer Trillium Therapeutics Inc via a $2.26 billion deal to reinforce its investments in blood cancer therapies. Pfizer already acquired a $25 million stake in...
Beijing Eyeing Take Over of Ride Sharing App, Didi; Encourages State-owned Companies to Invest
The Chinese government is encouraging government-run firms to invest in the Chinese ride-hailing company, Didi, as Beijing considers taking over control of the publicly traded Chinese technology giant, Bloomberg News has reported. It appears Beijing...
Chinese Real Estate Giant Evergrande Teetering on the Brink of Bankruptcy
Evergrande, one of the world’s most indebted real estate developers, is reportedly so crippled with debt that it is teetering on the brink of bankruptcy.  The company, which employs upwards of 200,000 people and claims...
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Investors ‘Sell’ Chinese Tech Stocks as Beijing Continues Crackdown
The Chinese Communist Party’s crackdown on the country’s tech companies has wiped out a trillion dollars from global stock markets. And as Beijing continues to tighten its noose over tech firms, investors are becoming increasingly...
ByteDance headquarters, parent company of social influencing app TikTok, is seen in Beijing on September 16, 2020. Whistleblowers from TikTok’s U.S. offices told CNBC not only are they made to work double shifts for ByteDance on Beijing time, but China has access to all U.S. user data and uses the privilege readily.
Chinese State Firm Claims Stake in TikTok’s Sibling Company
In April, ByteDance, which owns TikTok, sold a one percent stake in its subsidiary company Beijing ByteDance Technology Co. to a state-backed firm WangTouZhongWen (Beijing) Technology. The government-backed firm was also given a board seat...
Hacker Who Stole $600M in Cryptocurrency Offered Job and Reward From the Company He Stole From
A week after a hacker perpetrated what many are calling the largest cryptocurrency heist in history, the hacker — who stole roughly $610 million worth of cryptocurrency — has been offered both a job and...
Companies Stockpile Cash As Delta Variant Fears Linger
Companies have been keeping a record amount of cash, despite concerns surrounding disruptions from Covid-19 that were expected to surge spending this year. Data from S&P Global states that cash and short-term investments on corporate...
Global Semiconductor Supply Shortage, Nissan Shuts Down Operations at US Plant
Japanese carmaker Nissan is temporarily suspending operations at its assembly plant in Tennessee. The decision was made due to a shortage of semiconductors triggered by the rising number of COVID-19 cases in Malaysia. Nissan’s other...
The United States has officially declared that communist China is engaged in genocide against the Uyghurs in Xinjiang, where Nike shoes are made.
Nike Turns Blind Eye to Genocide: ‘Business in China is Aligned to Our Values’
Nike is claiming that its values align with how it operates in communist China. The company has made similar pro-China remarks in recent months which many believe is an attempt to appease the Chinese communist...