Business

SHENZHEN, China (Reuters) — Chinese e-commerce vendors that want to sell products on TikTok Shop in the U.S. as an alternative to Amazon are upset by moves they say the short video app has made to tighten enforcement of its rules for overseas sellers opening shops on the platform. Chinese-owned Tik…

NEW YORK (Reuters) — Visa and Mastercard reached an estimated $30 billion settlement to limit credit and debit card fees for merchants, with some savings likely to be passed on to consumers through lower prices. The antitrust settlement announced on Tuesday is one of the largest in U.S. history, an…

(Reuters) — Dell Technologies reduced its workforce as part of a broader initiative to cut costs that included limiting external hiring and employee reorganizations, it said in a filing on Monday. As of Feb. 2, 2024, it had nearly 120,000 employees, down from about 126,000 a year earlier. The layof…

(Reuters) — A U.S. judge on Monday threw out Elon Musk’s lawsuit against a nonprofit group that faulted him for allowing a rise in hate speech on his social media platform X, formerly Twitter. U.S. District Judge Charles Breyer in San Francisco said it was “evident” that Musk̵…

COLOMBO (Reuters) — McDonald’s has ended an agreement with its local partner in Sri Lanka and all 12 outlets in the country have been closed, an attorney for the U.S. company said on Sunday. “The parent company decided to terminate the agreement with the franchisee due to standard issue…

MADRID (Reuters) — Workers from Zara, Bershka and other clothing stores owned by fashion giant Inditex protested outside their shops across Spain on Friday to demand better conditions after the group reported record profits and raised shareholder payouts. Outside the flagship Bershka store on Madri…

(Reuters) — Microsoft has agreed to pay AI startup Inflection about $650 million in cash in an unusual deal that would allow Microsoft to use Inflection’s models and hire most of the startup’s staff including its co-founders, a person familiar with the matter told Reuters on Thursday. T…