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☆ AstraZeneca to withdraw Covid vaccine worldwide, citing a drop in demand
▼ + stars: | 2024-05-08 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +2 min

In this photo illustration a covid-19 vaccine is seen with the AstraZeneca logo in the background. (Photo Illustration by Nikos Pekiaridis/NurPhoto via Getty Images)Pharmaceutical giant AstraZeneca on Wednesday said it planned to withdraw its Covid-19 vaccine as demand for it has declined. Demand for the Vaxzevria vaccine has tailed off as new vaccines tailored to specific Covid variants have emerged, AstraZeneca said in a statement. "As multiple, variant COVID-19 vaccines have since been developed there is a surplus of available updated vaccines. Next to Covid vaccines, AstraZeneca has been working on a range of other treatments for illnesses including cancer.

Persons: Nikos Pekiaridis Organizations: AstraZeneca, Getty Images, Pharmaceutical, University of Oxford, Covid, World Health Organization, European Union, Fusion Pharmaceuticals Inc Locations: U.K

☆ The Rise of Temu’s Chinese Parent Will Reshape E-Commerce
▼ + stars: | 2023-12-05 | by ( Jacky Wong | ) www.wsj.com time to read: 1 min

Temu has 52 million monthly active users in the U.S., just a year after its launch. There’s a new online-shopping champion in China: PDD , the company behind discount-retailing app Temu, is now the country’s most valuable e-commerce company. After a 78% rise this year, PDD’s market value has hit $193 billion, snatching the crown from Alibaba. Though PDD’s revenue last quarter was still less than a third of Alibaba’s, it’s growing much faster. Revenue for the three months ended in September surged 94% from a year earlier—Alibaba’s only grew 9%.

Persons: Temu, Nikos Pekiaridis Organizations: Revenue, Alibaba, P Global Market Intelligence Locations: U.S, There’s, China, Alibaba

☆ Chinese fast fashion retailer Temu overtakes Shein to dominate Japan and South Korea apps
▼ + stars: | 2023-11-10 | by ( Sheila Chiang | ) www.cnbc.com time to read: +5 min

Similarly, in South Korea, Temu ranked No. Among the top shopping apps in South Korea, Temu was the fastest to reach 2 million downloads at around 88 days. Shein took 382 days while AliExpress took 366 days to hit the same milestone. Shein sued Temu in December over intellectual-property infringement while Temu accused Shein in July of threatening and forcing manufacturers into exclusivity agreements. Temu made its foray into Asia through Japan and South Korea in July.

Persons: Nikos Pekiaridis, Shein, Temu, Goldman Sachs, Mercari, Alibaba, AliExpress, Bernstein Organizations: Getty, Nurphoto, PDD Holdings, CNBC, iOS, Google, Nasdaq, Holdings, Citi, U.S, Committee Locations: Japan, South Korea, China, U.S, Australia, New Zealand, France, Italy, Germany, Netherlands, Spain, Boston , Massachusetts, Asia, Philippines, Malaysia

☆ Blockchain Helps the Good Guys Track the Bad Guys
▼ + stars: | 2023-10-23 | by ( ) www.wsj.com time to read: +1 min

Cryptocurrency makes up a small portion of thatBlockchain, the technology underpinning cryptocurrency, provides a public and transparent ledger of all transactions. Law enforcement is well trained to track, trace and apprehend illicit actors abusing this technology, and it has a strong record of doing so. While new technologies are often exploited by bad actors, they often serve as more valuable tools for law enforcement than for criminals. The blockchain makes concealing illicit funds through cryptocurrencies ineffective. The record must reflect that cryptocurrency isn’t the currency of choice for criminals.

Persons: Nikos Pekiaridis, Cryptocurrency Organizations: Zuma, “, Holdings, Crypto Locations: Jihad

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