ByteDance set to lay off hundreds of staff

Published

3 years ago

August 6, 2021

Ticker

Beijing-based online giant, ByteDance has laid off hundreds of employees as it struggles to cope with China’s latest round of big-tech regulations.

The owner of TikTok, ByteDance had to shut down a significant portion of its online education sector in order to comply with the nation’s new laws.

Another company called GoGo Kid will be forced to shut down completely as China’s government moves in on the $100 billion industry.

The new regulations include a ban on private companies from teaching children how to earn profits and even raise capital.

In addition to this, the industry is not allowed to hire foreigners or teach school content to children.

The newly imposed regulations sparked widespread market concerns and triggered a $1 trillion wipeout from Chinese equities.

Why the meme-stock frenzy is unlikely to repeat

Published

4 days ago

May 14, 2024

Nathan Langridge

GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending

Money

Why are airlines after the Biden Administration?

Published

4 days ago

May 14, 2024

Nathan Langridge

Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.

On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.

Ticker’s Ahron Young & Veronica Dudo discuss. #featured #trending

Money

The mounting pressure on Government spends

Published

5 days ago

May 13, 2024

ticker NEWS

Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending