Saturday, April 17, 2021

Fact Check

On whether he supports the filibuster.

North Carolina State Sen. Jeff Jackson, a Democrat, speaks to Spectrum News anchor Tim Boyum about his U.S. Senate campaign on Jan. 26, 2021.Source...

President Joe Biden’s American Relief Plan “has a lot of money in it for schools, but if you really look at it … it...

Kindergarten students at Maurice Sendak Elementary School in Los Angeles on April 13, 2021. (AP)Source link

"Kids in cages" in border facilities are "at 700% capacity."

Newly arrived migrant children inside a temporary federal facility for unaccompanied minors in Donna, Texas, on March 30, 2021. (APSource link

NO FUE REAL: Una mirada a lo que no sucedió esta semana

CIUDAD DE MÉXICO (AP) — Un resumen de las historias e imágenes más populares, pero completamente falsas de la semana. Ninguna de éstas es...

“There is racism physically built into some of our highways.”

The Overtown neighborhood in Miami, Fla. (Pietro, Creative Commons)Source link

NOT REAL NEWS: A look at what didn’t happen this week

A roundup of some of the most popular but completely untrue stories and visuals of the week. None of these are legit, even though...

US Politics
Latest

Biden seeks a new view of infrastructure, far beyond asphalt

WASHINGTON (AP) — President Joe Biden is giving himself lots of latitude when he defines infrastructure for the purpose of spending money on it....

Cruz, Hawley dwarf potential 2024 rivals in fundraising

The next two top performers — who will both be on the ballot next year — were Sens. Rand Paul (R-Ky.) and Marco Rubio...

Biden administration blocks Medicaid work requirements

MADISON, Wis. (AP) — President Joe Biden’s administration has blocked former Gov. Scott Walker’s plan to require some childless adults to work to maintain...

Cash floods into battle for control of Congress

But this isn’t the 2020 cycle. Armed with WinRed and an energized small-dollar donor base, House Republicans have narrowed their financial gap. Of their...

Biden returns prisoner-of-war flag to perch atop White House

WASHINGTON (AP) — President Joe Biden has restored the prisoner-of-war/missing-in-action flag to its former location atop the White House.The black-and-white POW/MIA flag returned atop...

LGBTQ

Former NFL player Ryan Russell takes strong stand for trans youth who want to play sports / LGBTQ Nation

Out NFL veteran and writer Ryan K. Russell has spoken out against the wave of anti-trans legislation that seeks to prevent trans youth from...

Congressman André Carson champions LGBTQ rights. This is why. / LGBTQ Nation

The latest episode of the LGBTQ Nation podcast has arrived and we’ve got an extra special show this week. Congress member André Carson (D-IN) joins host...

Colton Underwood’s coming out could finally give us a gay Bachelor season / LGBTQ Nation

Colton UnderwoodPhoto: ShutterstockNineteen years after season one of The Bachelor premiered, there may finally be a season starring a gay bachelor. On April 14, former...

Tech

New this Week: ‘Kung Fu,’ ‘Rebel’ and ‘Thunder Force’

New this Week: ‘Kung Fu,’ ‘Rebel’ and ‘Thunder Force’ Source link

Man pleads no contest to killing woman in Great Falls motel

GREAT FALLS, Mont. (AP) — A man who pleaded no contest to deliberate homicide for killing a woman at a Great Falls motel in...

Founder of Chinese e-commerce firm Pinduoduo departs

Must read

Biden seeks a new view of infrastructure, far beyond asphalt

WASHINGTON (AP) — President Joe Biden is giving himself lots of latitude when he defines infrastructure for the purpose of spending money on it....

Cruz, Hawley dwarf potential 2024 rivals in fundraising

The next two top performers — who will both be on the ballot next year — were Sens. Rand Paul (R-Ky.) and Marco Rubio...

Biden administration blocks Medicaid work requirements

MADISON, Wis. (AP) — President Joe Biden’s administration has blocked former Gov. Scott Walker’s plan to require some childless adults to work to maintain...

On whether he supports the filibuster.

North Carolina State Sen. Jeff Jackson, a Democrat, speaks to Spectrum News anchor Tim Boyum about his U.S. Senate campaign on Jan. 26, 2021.Source...

HONG KONG (AP) — Colin Huang, founder of the Chinese e-commerce firm Pinduoduo, stepped down as chairman Wednesday just as the company’s annual user base surpassed that of rival Alibaba.

Huang, who founded Pinduoduo in 2015 and is China’s third-richest man with a net worth of about $56 billion, said that he is giving up the chairmanship to pursue research in food and life sciences.

Huang’s board seat will be taken by CEO Chen Lei, according to the company.

Shares of Pinduoduo, which is listed on Nasdaq, tumbled 7% following the announcement.

Huang departs with Pinduoduo achieving record growth. The company on Wednesday said its annual active users reached 788.4 million in December, up 35% compared with the same time last year, and exceeding the user base of 779 million counted by rival Alibaba Group Holding.

Quarterly revenue spiked 146% from a year earlier, to $4 billion. For comparison, in its most recent quarter, Amazon recorded $125 billion in revenue, $66 billion coming from online sales alone.

Chen thanked Huang for his leadership of Pinduoduo over the last six years during a conference call.

“We will cheer him on as he explores new frontiers for Pinduoduo in years to come,” Chen said.

Pinduoduo’s meteoric rise has narrowed the gap between the company and Alibaba, which is still the country’s largest e-commerce platform by revenue and monthly active users.

The Shanghai company stands out because of its team purchasing model, where users can get bigger discounts if they team up with friends or other users to buy in bulk. Pinduoduo is also known for selling fresh produce online, and has ambitions to become China’s largest grocery platform.

Huang is also leaving in a time when Beijing has ramped up scrutiny of China’s internet sector and the anti-competitive practices employed in the industry, such as exclusivity contracts for merchants and heavy subsidies to attract users.

Chinese regulators fined Pinduoduo earlier this month over improper pricing practices for its community group-buying platform that “disrupted market order.”

Alibaba is also under investigation over anti-competitive behavior. The market debut of its financial technology affiliate Ant Group was shut down just days after co-founder Jack Ma criticized Chinese regulators during an October conference in Shanghai .

Other technology firms, such as Tencent and Meituan, have received fines over violations of antitrust laws.

In January, Pinduoduo came under fire after an employee committed suicide and another collapsed while walking home, prompting concerns of long working hours at the company and the internet sector. The incidents also led Chinese authorities to investigate Pinduoduo’s working conditions

Source link

- Advertisement -

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article

Biden seeks a new view of infrastructure, far beyond asphalt

WASHINGTON (AP) — President Joe Biden is giving himself lots of latitude when he defines infrastructure for the purpose of spending money on it....

Cruz, Hawley dwarf potential 2024 rivals in fundraising

The next two top performers — who will both be on the ballot next year — were Sens. Rand Paul (R-Ky.) and Marco Rubio...

Biden administration blocks Medicaid work requirements

MADISON, Wis. (AP) — President Joe Biden’s administration has blocked former Gov. Scott Walker’s plan to require some childless adults to work to maintain...

On whether he supports the filibuster.

North Carolina State Sen. Jeff Jackson, a Democrat, speaks to Spectrum News anchor Tim Boyum about his U.S. Senate campaign on Jan. 26, 2021.Source...

Cash floods into battle for control of Congress

But this isn’t the 2020 cycle. Armed with WinRed and an energized small-dollar donor base, House Republicans have narrowed their financial gap. Of their...