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Snap plans new video editing app, augmented reality features

Snap plans new video editing app, augmented reality features

Snap, owner of photo messaging app Snapchat, announced Thursday it will launch a new standalone app later this year called Story Studio, with video editing tools to help users make professional-level content for mobile.
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ByteDance co-founder Zhang Yiming to step down as CEO

ByteDance co-founder Zhang Yiming to step down as CEO

Zhang Yiming, co-founder of TikTok owner ByteDance, told employees of the Chinese technology giant in a memo that he will step down as chief executive and be succeeded by co-founder Rubo Liang, the company said Thursday.
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JD.com beats market expectations as Covid-19 boom persists

JD.com beats market expectations as Covid-19 boom persists

China's JD.com Inc's first-quarter revenue beat Wall Street estimates on Wednesday, as growth remained robust in the domestic e-commerce sector following the Covid-19 pandemic.
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Alibaba, partners invest $400 million in retail arm of Vietnam's Masan

Alibaba, partners invest $400 million in retail arm of Vietnam's Masan

Chinese e-commerce leader Alibaba Group Holding Ltd and partners have invested $400 million in the retail unit of Vietnamese conglomerate Masan Group Corp, Masan said in a statement on Tuesday.
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EU eyes another go at more unified European business taxation

EU eyes another go at more unified European business taxation

The European Commission wants to propose in 2023 a more unified way of taxing companies in the European Union, hoping that such rules will stand a better chance if they follow global OECD solutions expected this year.
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Amazon wins court fight against $303 million EU tax order

Amazon wins court fight against $303 million EU tax order

Amazon on Thursday won its fight against an EU order to pay about €250M in back taxes to Luxembourg as Europe's second highest court dealt a blow to the bloc's crackdown against unfair tax deals for multinationals.
Fashion
Simon Property Group is cautiously optimistic in light of positive traffic trends

Simon Property Group is cautiously optimistic in light of positive traffic trends

The United States’ largest mall owner announced that it has been seeing strong growth in traffic during an earnings call on Monday, but is still cautious in its outlook. The company’s revenues fell 0.08% in Q1.
Fashion
U.S. state AGs urge Facebook to cancel plans for Instagram for younger kids

U.S. state AGs urge Facebook to cancel plans for Instagram for younger kids

A group of 40 state attorneys general on Monday urged Facebook Chief Executive Mark Zuckerberg to abandon plans to launch a version of Instagram for children under the age of 13.
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Deutsche Post DHL hikes outlook again on ecommerce boom

Deutsche Post DHL hikes outlook again on ecommerce boom

German logistics company Deutsche Post raised its financial outlook again on Wednesday after more than tripling its operating earnings in the first quarter, predicting e-commerce will keep booming.
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Fidelity halves valuation of Ant Group after Chinese crackdown

Fidelity halves valuation of Ant Group after Chinese crackdown

U.S. asset manager Fidelity Investments has cut its valuation of Chinese financial technology giant Ant Group in half in its latest filings assessing the worth of the shares its funds hold in the group.
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France's Lagardere gives up grip over family firm

France's Lagardere gives up grip over family firm

French billionaire Arnaud Lagardere has agreed to relinquish control over his media empire, which includes the Hachette publishing house, under pressure from investors and influential business tycoons.
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Japan's retail sales rise at fastest pace in five months

Japan's retail sales rise at fastest pace in five months

Japanese retail sales rose at the fastest pace in five months in March as consumer demand recovered from the huge hit it took from the coronavirus pandemic last year.
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Alphabet sets profit record, plans $50 billion buyback

Alphabet sets profit record, plans $50 billion buyback

Alphabet on Tuesday reported record profit for the second consecutive quarter and a $50 billion share buyback but warned a surge in usage and ad sales during the pandemic may slow as people resume in-person activities.
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Kering luxury brand Bottega Veneta leases central Milan palace

Kering luxury brand Bottega Veneta leases central Milan palace

Bottega Veneta has rented a historic palace in the centre of Milan that will house the new offices of the brand owned by luxury goods group Kering, real estate asset management company COIMA SGR said.
Lifestyle
Jessica Alba's The Honest Company shooting for $1.5 billion valuation with IPO

Jessica Alba's The Honest Company shooting for $1.5 billion valuation with IPO

The Los Angeles-based beauty, baby and consumer goods company founded by actress Jessica Alba said on Monday that it is aiming for a valuation of more than $1.5 billion with its upcoming U.S. IPO.
Beauty
Instagram launches feature to tackle hate speech, abuse

Instagram launches feature to tackle hate speech, abuse

Facebook Inc's Instagram is rolling out a feature to prevent users from viewing possibly abusive messages by filtering offensive words, phrases and emojis on the photo-sharing app.
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