© AFP 2022
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Consumer groups accuse Temu of manipulating online shoppers
European consumer groups on Thursday accused Chinese shopping app Temu of using "manipulative techniques" to force users to spend more and other violations of a landmark EU tech law. The groups accuse Temu of "failing to protect consumers and for using manipulative practices which are illegal", known as dark patterns, and demanded an investigation.
Monet painting fetches $35 million at New York auction
A Monet sold for nearly $35 million at auction Wednesday evening, Sotheby's said, marking a solid start to New York's spring art sales. Christie's, meanwhile, sold some $115 million in contemporary art the prior evening, including a Jean-Michel Basquiat painting for $32 million.
Asian markets track Wall St records after US inflation data
Asian equities rallied Thursday after US data showed inflation cooled last month, fuelling speculation that the Federal Reserve will cut interest rates twice this year. Tokyo also advanced, even after data showed Japan's economy shrank more than expected in the first three months of the year.
What will be the repercussions of Biden's new China tariffs?
US President Joe Biden unveiled steep tariff hikes on Chinese green tech this week, hitting imports like electric vehicles, chips and solar cells -- and adding stress to US-China ties. - What about green tech prices?
Mission impossible? Next Boeing CEO faces pile of problems
Since announcing plans in late March to replace CEO Dave Calhoun at the end of 2024, Boeing's problems have seemingly gone from bad to worse, complicating an already daunting executive search. Given the depth of the problems, some Boeing watchers argue the company needs to make profound changes beyond the executive-suite shakeup already announced, which keeps Calhoun in his post through December.
Japan economy suffers worse-than-expected contraction of 0.5%
Japan's economy suffered a worse-than-expected contraction in the first quarter, official data showed Thursday, in further bad news for its unpopular government. In the previous quarter, from July to September, GDP suffered a major contraction of 0.9 percent, also revised on Thursday from an earlier reading of minus 0.8 percent.
IMF approves use of reserve assets for 'hybrid' financial instruments
The IMF said Wednesday that its board had voted to allow member states' IMF-issued international reserve assets to be used by multilateral development banks (MDBs) to acquire financial instruments that would stretch their balance sheets further.
Google's AI search revamp puts publishers in a quandary
Google's use of artificial intelligence to sum up answers to search queries has publishers wondering if traffic to their websites will wither. The internet titan announced Tuesday it is introducing AI-generated answers to online queries in the United States, in one of the biggest changes to its world-leading search engine in 25 years.
Victoria's Secret reviving fashion show after six-year hiatus
American lingerie giant Victoria's Secret announced Wednesday that its annual fashion show, scrapped after 2018 due to sluggish sales and diminishing audiences, will return this fall bringing high-profile models back onto its catwalk.
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