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Chinese watchdog warning businesses to stop drinking

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Chinese Communist Party’s anti-corruption watchdog said businesses should stop drinking and replace it with “correct values”

Some “under the table rules” such as forced drinking for business purposes may lead to crimes, the Central Commission for Discipline Inspection says.

Most alcohol-related stocks dropped in todays trading.

China has moved in recent weeks to clamp down on a host of sectors seen as contributing to societal problems.

The move comes due to a sexual assault case involving employees with Alibaba Group Holding.

Alibaba suspends staff members amid sexual harassment investigation

China’s Alibaba has suspended several staff members following allegations that an employee was assaulted by her boss and a client

Alibaba has launched an investigation after an anonymous employee published an 11-page document detailing how her boss and a client assaulted her on a business trip.

The document has circulated widely online, prompting a social media storm. The story was one of the top trending items on Weibo over the weekend.

The woman says her boss coerced her into going on a business trip with him to meet one of her team’s clients in the city of Jinan.

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Leaders

Elon Musk is projected to become the world’s first trillionaire

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Elon Musk, the visionary entrepreneur behind Tesla and SpaceX, is projected to achieve an unprecedented financial milestone by becoming the world’s first trillionaire by 2027.

Currently the richest person alive, Musk holds a staggering net worth of $251 billion, with Tesla playing a major role in his fortune.

At this rate, experts predict his wealth could skyrocket, reaching the trillion-dollar milestone in just three years.

Tesla itself is growing at a remarkable pace, with a market value nearing $670 billion. #featured #trending

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Money

Treasury Secretary believes the U.S. are on track for a “safe landing”

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Treasury Secretary Janet Yellen pointed to a “soft landing” for the economy, with unemployment slightly down despite slower job creation.

In a recent interview on Bloomberg, Yellen stated that “For the US, the kinds of metrics that we would monitor that would summarise risks — whether it’s asset valuations or a good degree of leverage — things look good, I don’t see red lights flashing”. #featured #trending

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Leaders

Trump promises to slap unprecedented tariffs on foreign allies

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Former President Donald Trump has promised to slap unprecedented Tariffs on foreign allies, including the European Union, if he wins the 2024 presidential election.

Trump pledged to reduce the corporate tax rate from 21% to 15% for companies that make their products in the U.S.

While he had already said he wanted to cut the corporate tax rate to 15%, he had not previously tied that lower rate to keeping manufacturing inside the country. #featured #trending

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