Pinduoduo Draws Short Sellers in China’s E-Commerce Price War
One of China’s most popular stock bets of the past year is unraveling fast, weighed down by an intensifying e-commerce price war and weaker economic growth.
Bloomberg Business
Yellen Sees Path to Curbing Inflation Even With Solid Jobs
Treasury Secretary Janet Yellen reiterated that she sees a “path” for inflation to come down while retaining a strong US job market.
Spain Set to Generate More than 50% of Its Power From Renewables
Spain is on track to become the first country among Europe’s big five economies to generate more than 50% of its electricity from renewable sources, according to a forecast by Rystad Energy.
Microsoft Is Bringing OpenAI’s GPT-4 AI model to US Government Agencies
Microsoft Corp. will make it possible for users of its Azure Government cloud computing service, which include a variety of US agencies, to access artificial intelligence models from ChatGPT creator OpenAI.
Google Cloud Launches Consulting Services to Help Clients Use AI
Google’s cloud-computing unit will begin offering consulting services to help clients use generative artificial intelligence as businesses across industries seek to capitalize on the wave of interest in the new technology.
Qatar’s Sheikh Jassim Submits Fifth Bid for Manchester United
Qatar’s Sheikh Jassim has submitted his fifth takeover offer for Premier League team Manchester United, according to a person familiar with the situation.
London Temperatures to Soar as UK Braces for Hot-Weather Blast
The UK is bracing for its first bout of hot weather this year, in a reminder of 2022’s sizzling summer that sparked fires near London and challenged the country’s energy and transportation networks.
Mattress Company’s Infamous Debt Deal Gets Court Blessing
Serta Simmons Bedding LLC’s bankruptcy judge said the mattress maker’s contentious 2020 debt deal was made in good faith, a decision that has ramifications for distressed debt investors and deals another blow to a handful of Wall Street giants.
US Military Is So Worried About Drug Safety It Wants to Test Widely Used Medicines
US military officials are so concerned about the quality of generic drugs that the Department of Defense is devising a program to test the safety of widely used medicines.
Record-High Export Volumes Push Canada Trade Surplus Wider
The surplus rose to C$1.9 billion, from a downwardly revised C$231 million in March, with exports of gold, crude oil and vehicles increasing the most, Statistics Canada reported Wednesday in Ottawa. Economists were anticipating exports to exceed imports by C$550 million in April.
