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Amazon is excluding its new competitor Temu from its price searching algorithm that checks if products sold on its platform are competitive with rivals, saying the site doesn’t meet its standards, reports Reuters. According to Amazon, Temu, an e-commerce marketplace that launched in September, does not meet its strict qualification requirements for Amazon’s fair pricing […]

China unexpectedly cut a key interest rate on Tuesday and announced tax breaks for businesses, as weakening credit growth added to signs that the post-COVID recovery in the world’s second-largest economy is losing steam, reports the Financial Times. The People’s Bank of China cut the seven-day reverse repo rate, used to manage short-term liquidity in the […]

Washington’s latest addition of 31 Chinese companies, including a key supercomputing facility in Shanghai, to its export blacklist has thrust the next-generation computing technology into the centre of Sino-US rivalry, reports the South China Morning Post. On Monday, the Biden administration restricted exports to Shanghai Supercomputing Technology Co—an enterprise jointly backed by the Shanghai Supercomputer […]

Bunzl, the UK distributor of products that range from plastic spoons to PPE, is “de-risking” its supply chain by shifting some of its sourcing from China amid geopolitical concerns in the Asia-Pacific, reports the Financial Times. Frank van Zanten, chief executive, said that the company, which buys 10-15% of the products it supplies to customers from […]

This month China flipped the switch on a new electricity pricing model that treats all businesses as favorably as large industrial users while continuing to subsidize costs to residential and agricultural customers. The changes are intended to bring fairer and more transparent rates as well as more efficient distribution throughout the world’s largest power grid, […]