Pandaily's Digest #20201225
Alibaba Shares Plunge Most after Monopoly Investigation ,ByteDance Builds Team to Develop Drugs Using AI, and Honor V40 Series Specs and Renders Teased.
Alibaba Shares Plunge Most Ever after Monopoly Investigation Announced
Alibaba Group Holding’s U.S.-listed shares plunged 13.3% to $34.18 on Dec. 24, after news broke that the e-commerce giant will be investigated by anti-trust regulators.
China’s War on Christmas: Are Western Holidays Challenging Traditional Chinese Culture?
With glittering mistletoe hanging in malls, sparkling neon lights attracting visitors, and gingerbread houses selling out quickly, China is long ready for Christmas, a western religious holiday. As one of the largest manufacturers of Christmas accessories sold in the US, roughly 80%, China has mixed feelings towards Christmas and many other Western holidays.
TikTok Parent Company ByteDance Builds Team to Develop Drugs Using AI
Short-video app TikTok’s parent company ByteDance is looking to hire for its artificial intelligence drug discovery team in Mountain View, Beijing and Shanghai, as the company ventures into pharmaceutical research.
Honor V40 Series Specs and Renders Teased, Rumored to Debut Next Month
Amid Honor’s short silence after its separation from Huawei, more information is surfacing about a new smartphone line rumored to be called V40, which is rumored to debut next month.
Chinese Swimmer Sun Yang's Eight-year Doping Ban Overturned by Swiss Court
The World Anti-Doping Agency (WADA) has confirmed that a Swiss court overturned the verdict from the Court of Arbitration for Sport (CAS) against Chinese swimmer Sun Yang. The Swiss court ordered the case to be sent back to the CAS, to be dealt with under a different chairman of the judges handling this high-profile doping case.
Chinese Toymaker Pop Mart Caught Selling Repackaged Mystery Boxes
Chinese toy manufacturer Pop Mart has admitted to selling repackaged items at one of their outlets in Shandong, east China, following a customer complaint.
Chinese Tycoon, Producer of Netflix’s New Sci-Fi Film, Allegedly Poisoned
Dramatic rumors have recently circulated concerning the chairman of China’s digital game company Yoozoo. Lin Qi, also an executive producer for Netflix’s long-waited sci-fi adaption of “The Three-Body Problem,” was reported to be intentionally poisoned on Dec. 17 by his colleague.
Luckin Coffee’s Latest Sales Data Reveals Slower Yet Continued Growth
The performance fraud scandal has put the spotlight on Luckin Coffee’s sales data, and the latest has just been disclosed.
Unilever Extends Partnership with Burger King to Launch Artificial Meat Whopper in China
Consumer goods company Unilever announced on Wednesday to expand its partnership with fast-food chain Burger King on the artificial meat Whopper in Europe, China, Latin America, and the Caribbean.
Apple Could Partner with Chinese Automakers Nio or Xpeng, Analyst Says
Apple is poised to enter the electric vehicle market as Wedbush Securities analyst Dan Ives predicted. The firm believes next year, Apple will announce an electric vehicle strategic partnership potentially with Tesla, Volkswagen, or other auto manufacturers in China such as Nio and Xpeng, that lays the groundwork to enter the burgeoning EV space.
Why Did Alibaba’s Ant Group Lower Credit Limits for Young Users?
China’s financial technology giant Alibaba’s Ant Financial Service Group Co. cut credit limits for some young users on its digital consumer lending platform Huabei in recent days. The firm claims that this approach was intended to “promote more rational spending habits among young people.”
Top Chinese Livestreamer Fined $138,000 for Selling Fake Bird’s Nest Products
High profile livestreamer Xin Ba has been fined 900,000 yuan ($138,000) for selling counterfeit bird’s-nest soup, in the latest dispute related to false advertising in China’s booming livestreaming industry.
SAMR Investigates Alibaba for Alleged Monopolistic Behavior
E-commerce giant Alibaba is under investigation for alleged monopolistic practices, according to a notice posted on the official website of the State Administration for Market Regulation (SAMR) on Dec. 24.