IBM chooses IP over China as Temu's hyper-growth era hits a wall
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Meta CEO Mark Zuckerberg is shifting from backroom negotiations to public boundary-setting, putting government censorship pressure on the congressional record ahead of the US midterms. Meanwhile, a structural tech decoupling accelerates as IBM shutters its Chinese R&D hubs, and e-commerce giant PDD Holdings proves that even aggressive pricing can't outrun weakening consumer demand.
• Meta CEO Mark Zuckerberg admits to Congress that the Biden administration pressured Facebook to censor COVID-19 content in 2021.
• IBM abruptly shuts down its research and development operations in Beijing and Shanghai, impacting over 1,000 employees.
• PDD Holdings (parent of Pinduoduo and Temu) issues a gloomy growth forecast, wiping out $55 billion in market value in a single session.
• The Dow hits a record high of 41,240, while tech markets brace for Nvidia's high ...
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