Singles’ Day breaks online sales records as Alibaba faces new regulations
12 November 2020 |
7:00 am
The online retail event known as Singles' Day has seen record-breaking sales, worth over €47 billion, on sites owned by China's Alibaba. The spending spree comes as Alibaba and other Chinese tech firms face new regulations from Beijing, designed to prevent unfair competition in the sector. Also, we look at the legal challenge being mounted by TikTok in the United States against executive orders forcing a restructuring of its ownership. A deal agreed with Oracle and Walmart is still awaiting approval from the US government.
Related
Related
3 days ago
A year after Lula came to power, his gamble has paid off: deforestation has been halved in the Amazon. But this success comes at the cost of sacrificing another ecosystem that's just as vital to Brazil: the Cerrado.
3 days ago
With China set to have 400 million elderly people by 2035, authorities are trying to figure out how to take care of them. Family structures were transformed with the now defunct one-child policy. Even now, the birth rate continues to plummet.
4 days ago
While visiting Shanghai, German Chancellor Olaf Scholz has argued that the European market must be open to Chinese cars. However, he said that competition must be fair.
3 days ago
Some top Nigerian banks are eyeing the international and local capital markets to raise fresh capital in a bid to meet the recapitalisation exercise by the Central Bank of Nigeria. Egie Akpata, Chairman of Skymark Partners joins CNBC Africa to examine options available to banks.
1 day ago
According to the International Monetary Fund (IMF), a 10% rise in the dollar on the currency market would push down real gross domestic product (GDP) in emerging economies by 1.9% after one year, with adverse economic effects lasting more than two years
2 days ago
Solomon Islanders began voting on Wednesday in a crucial election that will decide China's foothold in the Pacific region.
Polling booths opened at 7 a.m. local time on Wednesday (2000 GMT on Tuesday), with almost 420,000 registered voters to elect 50 members of the national parliament.
There are more than 1,000 polling stations scattered across the Solomons archipelago, 2,000 kilometers (1,200 miles) off Australia's coast.
Latest
3 mins ago
The Croatian city of Vukovar, on the banks of the Danube, has a painful past. Located on the border with Serbia, it was the scene of the first major battle in the 1990s Balkan wars. Four years before the genocide in Srebrenica and eight years before the war in Kosovo, Vukovar was the first city in the former Yugoslavia to suffer ethnic cleansing, in 1991. More than 30 years later, reconciliation between local Serbs and Croats is hindered by impunity for war crimes and the inability to agree on a common version of events.
2 hours ago
The country's ruling junta is stepping up cooperation with Moscow, after expelling French troops last year. Also in the programme, at least three people have been killed in a shootout between militiamen and police in the Ethiopian capital. Among the dead are fighters from a rebel militia known as Fano. Plus, the art of remembering: painters in Rwanda are keeping the memory of genocide victims alive by drawing their inspiration from photographs.
2 hours ago
This summer, a 17-year-old boy was shot to death by police during a traffic stop in the Parisian suburb of Nanterre. Nationwide protests against racist police violence in France followed. A United Nations committee then called on the French government to take action against racial profiling by law enforcement.
5 hours ago
Thirty years ago, more than 800,000 people were killed during the genocide of the Tutsis in Rwanda. Among them were several dozen members of Dafroza Gauthier's family. A few months later, the young woman and her French husband decided to track down those suspected of taking part in the mass slaughter who had taken refuge in France. Journalists Thomas Zribi and Stéphane Jobert followed the Franco-Rwandan couple in their quest for justice. They bring us this special 52-minute documentary.
5 hours ago
Inflation in Germany has fallen to its lowest level since before Russia invaded Ukraine. Food prices fell for the first time in more than 9 years, figures show, with energy prices dropping even further.
9 hours ago
Kenya's military chief Gen. Francis Ogolla, was among 10 people killed in a helicopter crash in the Cheptulel area of Kenya's Rift Valley region, on Thursday, Kenyan President William Ruto confirmed.
×
Get the latest news delivered straight to your inbox every day of the week. Stay informed with the Guardian’s leading coverage of Nigerian and world news, business, technology and sports.
0 Comments
We will review and take appropriate action.