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Trade war rejuvenates 'Silicon Valley' firms in Malaysia
Years after resisting pressure to move to China, Lee Hung Lung says his bet has paid off. Sales at his Malaysia-based Hotayi Electronic are surging, it's hiring more workers, considering an expansion, and picking and choosing orders.

SoftBank seeks control of WeWork through financing package: source
SoftBank Group Corp. has prepared a financing package for WeWork Companies Inc that would give it control over the shared office space company, a person familiar with the matter said.

Uber and Banco Inter in talks to forge partnership in Brazil: source
Brazilian lender Banco Inter SA and Uber Technologies Inc are in talks to forge a partnership in financial services, a source familiar with the matter said, in a move that shows how Japan's SoftBank Group Corp is working to integrate its business in Latin America.

Warren campaign challenges Facebook ad policy with 'false' Zuckerberg ad
U.S. Senator Elizabeth Warren's Democratic presidential campaign this week challenged Facebook's policy that exempts politicians' ads from fact-checking, by running ads on the social media platform containing the false claim that Facebook CEO Mark Zuckerberg endorsed President Donald Trump's re-election bid.

Lyft follows Uber in suing NYC over cruising time caps
Lyft Inc, following its rival Uber's move, has sued New York City seeking to nullify a new rule limiting the time its drivers are allowed to spend cruising in Manhattan without passengers, the company said on Saturday.

Digital assets subject to money-laundering, disclosure laws: U.S. regulators
Three U.S. financial regulators on Friday issued a warning to firms with registered digital assets that they have an obligation to follow securities laws prohibiting money laundering and requiring disclosure of suspicious activity.

FTC's antitrust chief, who spearheaded tech task force, to step down
The Federal Trade Commission, which works with the Justice Department to enforce antitrust law, will lose the head of the Bureau of Competition next month, Chairman Joe Simons said in a statement on Friday.

Facebook's Libra currency abandoned by major financial companies
Facebook Inc's ambitious efforts to establish a global digital currency called Libra suffered severe setbacks on Friday, as major payment companies including Mastercard and Visa Inc quit the group behind the project.

U.S. SEC halts Telegram's $1.7 billion digital token offering
U.S. authorities said on Friday they have halted a $1.7 billion unregistered digital token offering by the messaging service Telegram Group Inc and its TON Issuer subsidiary.

Brazilian fintech Nubank has grown to 15 million users: CEO
Brazilian financial technology start-up Nubank now has 15 million clients, the firm's chief executive said on Friday, a figure which underlines the rapid growth of the Sequoia Capital-backed venture in Latin America's largest economy.

 

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