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| PDD probe: China has broadened a probe into PDD, one of Alibaba’s top rivals, after its employees exchanged physical blows with regulators, dispatching over 100 investigators from various agencies to the company’s Shanghai headquarters in recent weeks. Meta and gambling ads: Meta is turning a blind eye to illegal gambling sites that advertise on Facebook and Instagram, according to the UK’s Gambling Commission. “It’s effectively a window into criminality,” said Tim Miller, executive director for the commission. Revolut in Peru: Revolut applied for a full banking license in Peru as it expands in Latin America to compete with some of the region’s biggest financial-technology firms. Peru has a highly concentrated financial system, with the four biggest banks responsible for about 82% of total loans. | |
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| SK Telecom, South Korea’s top mobile carrier, saw its shares surge roughly 12% across two days this week after reports about Anthropic fundraising at a valuation of $350 billion. SK Telecom invested in the US AI startup in 2023. | |
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| TikTok users are increasingly posting videos of their embrace of Chinese wellness habits like drinking warm water, dubbing the practice their “Chinese era.” Singapore-based Olivia Poh finds amusement in seeing her domestic habits elevated to the status of rituals to be celebrated and explains the phenomenon in today’s Tech In Depth essay. | |
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