The European Commission (EC) announced Thursday that it has begun a formal investigation against the Chinese shopping platform, Temu, over its handling of product listings and to find out if the company has allowed illegal merchandise to be sold on its site.In addition, the EC is concerned that...
Amazon.com Inc. is preparing to unveil a low-price online store to rival PDD Holdings's Temu, The Information reported on Tuesday.The date of the launch is still unknown; however, Amazon allegedly already started communicating with its merchants on a forum dedicated to communication...
Online retailers Pinduoduo Inc. and Temu's parent PDD Holdings jumped by 10% during Tuesday's trading session after the People's Bank of China (PBoC) unveiled various measures to aid the country's economy, including facilitating businesses to take loans at lower rates.PDD Holding's soared by...
Shares of Temu owner PDD Holdings Inc. plunged more than 5% in premarket trading on Friday after the Biden administration announced measures to curb the "increased abuse of the de minimis exemption" by Chinese e-commerce platforms.The actions taken by the US president include excluding...
The shares of the Chinese online retailer, Pinduoduo Inc., sank on Monday's session on Wall Street over 30% after the company reported its earnings for the second quarter of 2024 in which its sales came below expectations.Earlier in the day, it revealed that it clocked total revenues at $13.35 billion...
Shares of major United States-listed Chinese companies were up in premarket trade in New York on Tuesday after China's Politburo pledged to take tens of new measures to help the country's economy and businesses.
Some of the moves Beijing signaled will include strengthening "reform and opening...
The shares of Chinese tech giants surged during Tuesday's opening bell on Wall Street, amid an overall positive sentiment among investors that Beijing would ease its strict COVID-19 restrictions following weekend protests across the country.
The rally, led by JD.com, Baidu, Pinduoduo, and NetEase,...
The shares of Chinese e-commerce platform Pinduoduo Inc. jumped past a one-year high on Wall Street during the first trading session of the week, following the company posting its third-quarter earnings results. In the July-September trimester, Pinduoduo revealed its revenue surged 65% to $4.99...
Major technological companies' stocks advanced significantly on Wednesday shortly following the opening of the market indexes in the United States, with investors reacting to the declines in the prices of oil futures and precious metals and turning to the field of information technology (IT) instead....
Pinduoduo Inc. said on Monday its second-quarter revenue annually jumped by 36% to reach $4.69 billion, with operating profit skyrocketing more than four times to $1.3 billion. The company's net income surged over three and a half times to $1.33 billion.
"We saw a recovery in consumer sentiment in...
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