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Technology

China · 1:00 PM UTCByteDance to close some tutoring ops after clampdown - sources

TikTok owner ByteDance told employees on Thursday it planned to lay off staff in its education business and close some of its tutoring operations, after China imposed sweeping regulations on the sector, two sources with knowledge of the matter said.

FinanceRobinhood slides 10% after four days of surge
TechnologyQualcomm tops Magna's bid with $4.6 bln offer for Veoneer
TechnologyEthereum software upgrade activated; ether, bitcoin down
TechnologyNintendo reports slump in quarterly sales for its flagship Switch console
TechnologyTaiwan's Foxconn buys $90.8 mln wafer plant from Macronix, eyeing EV chips
SportsAthletics-Adidas to keep pushing boundaries on shoe tech
Healthcare & PharmaceuticalsYelp adds features on vaccine status as coronavirus infections rise
Retail & ConsumerZalando shares hurt by marketing spend as lockdowns ease
Change SuiteSiemens raises profit guidance again as industrial demand ramps up
IndiaIndia enforcement agency warns Flipkart, founders they could face $1.35 bln fine
ChinaTencent's WeChat resumes new user registrations in mainland China
TechnologyEther near two-month high ahead of major protocol change
FinanceRobinhood shares surge 50%, as investors scoop up 'the meme of memes'
TechnologyLinkedIn must face narrowed U.S. lawsuit claiming it overcharged advertisers
TechnologyU.S. lawmaker says Facebook move to cut off researcher access is 'deeply concerning'
Retail & ConsumerPolish e-commerce platform Allegro scales up expansion after profit beat
Autos & TransportationUber posts $509 mln adjusted loss on driver incentives even as trips rise
Media & TelecomVodafone Idea shares slump as billionaire Birla's exit adds to worries
FinanceApis Partners invests $32 mln in Indonesia digital payments firm

London-headquartered private equity asset manager Apis Partners LLP said on Thursday it has invested $32 million in DOKU, an Indonesian digital payments firm owned by tech and media firm Emtek Group, in a market seeing strong growth and consolidation.