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TikTok is planning an aggressive expansion into ecommerce in the US, where it will go head-to-head with Silicon Valley giant Facebook. The Chinese-owned viral-video app has briefed advertisers on a number of new features for 2021, according to several people who have seen its plans, such as a tool that lets its most popular users
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Antony Blinken, US secretary of state, warned China that Washington would hold Beijing “accountable for its abuses”, in the first high-level interaction between the countries since Joe Biden became president. Following a call with Yang Jiechi, China’s top foreign policy official, Blinken said he had told his counterpart that the Biden administration would stand up
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Joe Biden, the US president, defended his plans for a $1.9tn fiscal stimulus package after data showed the economy creating a paltry 49,000 jobs last month as it struggled through the latest surge of coronavirus infections. Speaking from the White House alongside Janet Yellen, the Treasury secretary, Mr Biden said the “biggest risk” on fiscal
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German carmakers are considering building up semiconductor stockpiles to prevent a repeat of the crippling chip shortages that brought assembly lines to a standstill and stalled the production of hundreds of thousands of vehicles worldwide. The move could prompt an overhaul of the industry’s finely tuned “just-in-time” supply chain, which has been used for decades
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Amazon chief executive Jeff Bezos will step aside later this year to become executive chairman, making way for Andy Jassy, who currently heads up its cloud computing division, AWS, to replace him in the role. The ecommerce group’s founder, 57, on Tuesday said it was an “optimal time” to make the move, which will happen
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Aung San Suu Kyi and other senior members of Myanmar’s ruling party have been detained by the military after several days of rising tensions over the results of a recent election, raising fears of a coup in the south-east Asian country. Aung San Suu Kyi, Myanmar’s 75-year-old state counsellor, President Win Myint and other members
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Ursula von der Leyen has promised Boris Johnson that future EU controls on vaccines will not disrupt contracted supplies of the Belgian-made BioNTech/Pfizer vaccine to Britain. The European Commission president, made the commitment to the prime minister in a tense Friday night call, which followed the Commission’s controversial plan — hastily abandoned — to impose
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Michael Frawley had already been dabbling in financial derivatives for a few months when he joined a raucous, profane trade-tipping internet forum last year. Reddit’s WallStreetBets would prove the gateway into the 25-year-old Ohio engineer’s wildest ever bet. GameStop is a struggling bricks-and-mortar video game retailer in a world that is rapidly moving online. The
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The EU medical regulator has approved AstraZeneca’s coronavirus vaccine for people over 18, in a boost for both the bloc and the company amid an increasingly acrimonious battle between them over delivery shortfalls. The European Medicines Agency backed the jab at a meeting on Friday, a day after Germany’s independent vaccination advisory commission said it
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A “short squeeze” that started on Wall Street swept across the globe on Wednesday, triggering another day of frenetic moves in the share prices of companies with large bets levied against them. The White House press secretary Jen Psaki said the Biden administration was “monitoring the situation” as shares of companies including GameStop, the hard-hit
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The IMF has warned that emerging markets’ limited access to Covid-19 vaccines poses a risk to global financial stability, saying shortages could exert a drag on economic recoveries in low-income countries.  “Inequitable distribution of vaccines risks exacerbating financial vulnerabilities, especially for frontier market economies,” the IMF wrote in its latest global financial stability update. Emerging market assets have