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        Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

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        Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

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        Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

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          Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

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          Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

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          Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

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          Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

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          Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

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            Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

            MLB World Series Futures for 2023: Odds, Predictions, Who Will win – Sports Illustrated

            Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

            Scientists gain insights into Old Master artists' use of egg in oil … – The Guardian

            Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

            Virtual Reality in nursing education goes mainstream – Wolters Kluwer

            Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

            Labour officially bans Jeremy Corbyn from standing as candidate for party at next general election – UK politics live – The Guardian

            Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

            France braces for anti-pension reform protests amid rising violence on the streets – CNN

            Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

            Packers puzzled as talks with QB Rodgers 'never transpired' – ESPN

            Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

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              Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

              North Carolina Expands Medicaid After Republicans Abandon Their Opposition – The New York Times

              Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

              You Were Missed! Just Cooking BBQ And More Is Moving To Killeen … – ktemnews.com

              Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

              Columbia County Health and Wellness Expo – WJBF-TV

              Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

              The Acidic Foods To Avoid Cooking On Top Of Aluminum Foil – Daily Meal

              Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

              5 Ways to Help Protect Your Health During Spring Break … – Times of San Diego

              Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

              20 Ways To Use Textured Vegetable Protein In Your Cooking – Tasting Table

              Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

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                Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

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                City of Fort Dodge prepares to borrow $14.5 million – Fort Dodge Messenger

                Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

                Jurupa Hills TV production students are honored at SBVC Film Festival – Fontana Herald-News

                Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

                Vote for the first Player of the Week of the spring sports season – Delmarva Now

                Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

                'Succession' Season 4 Release Schedule – When Do New Episodes Drop? – Men's Health

                Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

                Fantasy Baseball Rankings 2023: Breakouts, sleepers, busts by computer model that predicted Votto's struggles – CBS Sports

                Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

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                  Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

                  Forum Energy Technologies Awarded Approximately $25 Million Contract to Provide Desalter Systems to Saudi Aramco – Yahoo Finance

                  Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

                  Toledo Technology students get early look at engineering careers – Toledo Blade

                  Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

                  Technology has become the double-edged sword of Asia's protests – BBC

                  Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

                  Panera Bread will use palm-scanning technology for its loyalty program – WLTX.com

                  Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

                  Hong Kong entering a 'golden era' of I&T, with major career opportunities – South China Morning Post

                  Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

                  Cowbell opens new technology center in Pune, India – Reinsurance News

                  Biden State of the Union address likely boosted Democrats' 2024 confidence – NPR

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                  Chinese Tycoons’ Fortunes Drop $6.8 Billion After Consumer Group Criticizes Their Businesses

                  by Editor
                  May 11, 2021
                  in Business
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                  Chinese Tycoons’ Fortunes Drop $6.8 Billion After Consumer Group Criticizes Their Businesses
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                  Founder and chief executive officer of Meituan Dianping Wang Xing.

                  Founder and chief executive officer of Meituan Dianping Wang Xing.


                  Paul Yeung/Bloomberg

                  Two of China’s wealthiest tech tycoons saw their fortunes tumble this week after a consumer group criticized some of their business practices.

                  Shares of Pinduoduo dropped 9.1% on the news, wiping out roughly $4.3 billion of Huang Zheng’s net worth. The founder of the e-commerce is now worth $42.9 billion, according to Forbes Real-Time Billionaire List, making him China’s fourth-richest person.

                  Meituan’s founder Wang Xing saw his wealth drop $2.5 billion as investors sold down shares of the food-delivery company again on Tuesday. Meituan’s shares dropped another 5.3% on Tuesday, following a 7.1% decline a day earlier. Wang’s net worth currently sits at $19.5 billion.

                  A day earlier, the Shanghai Consumer Council said in a statement that it had summonsed both Pinduoduo and Meituan for meetings. The consumer advocacy group reprimanded Pinduoduo for its poor product quality, counterfeit products and after-sales service, among others. It also condemned Meituan for refunding issues, food delivery failures and misleading content on its platform.

                  The council’s statement came amid the Chinese government’s ongoing clampdown on the country’s largest tech companies.

                  Last week, Wang published and then deleted a post on social media site Fanfou that some saw as a subtle criticism of the Chinese government days. The chief executive officer shared a Tang dynasty poem about the burning of books by Qin Shi Huang, a Chinese emperor who led a campaign against intellectual discourse. The poem mocks Qin for seeing scholars as his biggest threat, but eventually his regime was instead overthrown by non-intellectuals. 

                  Wang deleted the post within a few days later, and then issued a clarification. The 42-year-old said the poem served as a reminder that “the most dangerous antagonists are often not those expected.” He added that Meituan’s biggest competitor may seem to be Ele.me, but it could eventually be “companies and business models yet to be noticed” that shake up the food-delivery industry. 

                  Meituan and Pinduoduo did not immediately respond to a comment for request.

                  In late April, Beijing’s anti-trust regulator officially launched an investigation into Meituan’s alleged monopolistic business practice of forcing merchants to “pick one from two.” The stock of the food-delivery giant has since then tumbled about 18%. 

                  Some Chinese netizens on Weibo compared Wang’s poem post with the speech given by his rival Jack Ma at a high-profile financial forum in October 2020. The billionaire founder of e-commerce giant Alibaba slammed Beijing’s regulatory system at the time, saying Chinese banks had been operating with a “pawnshop” mentality.

                  The speech precipitated a crackdown by Chinese authorities on the e-commerce company, including an abrupt halt of affiliate Ant Group’s record $35 billion initial public offering and a highest-ever $2.8 billion anti-monopoly fine on Alibaba.

                  Pinduoduo founder Colin Huang Zheng.

                  Pinduoduo founder Colin Huang Zheng.


                  VCG/VCG via Getty Images



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