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Chinese property giant Vanke warns of huge loss, CEO resigns

Indebted Chinese property giant Vanke said Monday that its CEO had resigned due to “health reasons”, after state-backed media reported he had been taken away by authorities. The company also warned on Monday of a net loss of approximately 45 billion yuan ($6.2 billion) last year. Chinese outlet the Economic...

Lawmakers set to confirm Scott Bessent for US Treasury chief

The US Senate is widely expected to confirm billionaire hedge fund manager Scott Bessent for Treasury secretary Monday, putting him at the forefront of implementing Donald Trump’s economic agenda — which is already sparking global jitters. Bessent, a Wall Street veteran who was born and raised in South Carolina, has...

In Brazil, disinformation deals Lula a bruising defeat

An avalanche of disinformation about a new economic measure proved so tricky for Brazil’s government to navigate that they backtracked entirely this week in a rout egged on by the opposition. The political fiasco centered around the beloved instant money transfer system known as PIX, used tens of millions of...

Instagram courts TikTok stars during turbulent times

Meta-owned Instagram has been wooing creators from TikTok as the China-based video-snippet sharing app’s future remains uncertain in the United States. After officially increasing the allowed length of videos and adding a new editing tool, Meta recently began letting TikTok creators earn as much as $5,000 over the course of...

Brazil gives Meta 72 hours to explain new fact-checking policies

Brazil on Friday gave social media giant Meta 72 hours to explain its fact-checking policy for the country, and how it plans to protect “fundamental rights” on its platforms. Attorney General Jorge Messias told journalists his office could take “legal and judicial” measures against Meta if it does not respond...

US Supreme Court upholds law banning TikTok

The US Supreme Court on Friday upheld a law that will ban TikTok in the United States, potentially denying the video-sharing app to 170 million users in two days. In a major defeat for TikTok, the court ruled that the law does not violate free speech rights and that the...