Jio Telecom, owned by India’s richest man, Ambani, has no ability to fight back against opponents that once relied on a $2 monthly rental fee.
Now Ambani relies on JioMart to repeat its old tricks in the field of e-commerce, launching a 50% discount during Hanukkah, an important shopping season in India.
Ambani, who has already occupied the leading position of offline retail in India, began to challenge Amazon after receiving more than $6 billion from KKR and Silver Lake Capital.
In addition to the price war, Ambani also has the advantage of “location”. In recent years, India’s domestic policies have become increasingly detrimental to overseas retail giants.
Indian Prime Minister Modi also wants to make JioMart the “Alibaba” of India, but it is much more difficult to defeat Amazon than to defeat local telecom operators.
Whether it is technology or business, Amazon is much more sophisticated. And recently, I have received many complaints and bad reviews about JioMart shopping and refunds.
Financial Times: Vaccines will come out, technology stocks are sold off
Currently, the global asset allocation is undergoing a round of readjustment. On Tuesday, technology stocks continued to be sold. The Nasdaq Index fell 1.4%, while the S&P 500 fell only 0.1%.
At the same time, investor demand for safe-haven assets also began to decline, and the interest rate on 10-year US Treasury bonds rose by 0.03 percentage points to 0.95%.
In addition, the Brent crude oil index rose 2.9% to US$43.61 per barrel.
Bloomberg丨Wall Street Journal丨Nikkei Asia Review: Apple launches first computer with self-developed chip
On Tuesday, Apple introduced its first Mac computer equipped with the self-developed chip M1. This is an important change for Apple from choosing Intel chips to self-developed chips.
The first products equipped with this chip include MacBook Air, MacBook Pro notebook computers and Mac mini desktop computers. The chip uses today’s most advanced 5nm technology, produced by TSMC.
Self-developed chips will help Apple’s computers achieve the highest efficiency/power ratio.
Currently, Apple is the world’s fourth largest computer manufacturer after Lenovo, HP and Dell. Apple’s choice of self-developed chips is undoubtedly a major loss to Intel, and its stock price subsequently fell 2.5%.
Wall Street Journal丨Financial Times: Amazon faces new anti-Thosla charges
Recently, the European Union accused Amazon of violating competition laws by using non-public data collected from third-party sellers for unfair competition.
It is expected to rule next year whether Amazon has violated the competition law. If the company is found to have violated the regulations, it will impose a fine of 10% of its annual revenue.
Amazon denies the allegations and said it will cooperate with the European Commission to investigate the truth.
The EU may introduce online platform regulations through this Amazon case, prohibiting the promotion of its own products and harming the interests of other smaller competitors.
Reuters: Huawei will sell its glory business
It is reported that Huawei plans to sell its Honor series business to Shenzhou Digital and the Shenzhen government at a price of RMB 10 billion.
This is mainly due to the suppression of the United States, which forced Huawei to focus on high-end mobile phones and business-oriented businesses.
This move also shows that the new US government will not change its views on Huawei.
After the sale, Honor will retain most of its management team and more than 7,000 employees, and will be publicly listed within three years.
Huawei said it may announce this plan on Sunday.
Nikkei Asian Review: Luxshare Precision assembles iPhone ahead of schedule
It is reported that AirPods manufacturer Luxshare Precision has obtained Apple’s support and is preparing to enter the iPhone manufacturing industry.
Before completing the acquisition of the Kunshan assembly plant, Luxshare Precision has sent employees to Apple’s production base to study the production of the latest iPhone 12 mini.
This is a bit unusual, because companies that participate in the iPhone assembly business for the first time generally start with the old models, and Apple rarely allows outside employees to visit its production sites.
After the completion of the acquisition, Luxshare Precision will become the fourth iPhone assembler after Foxconn, Pegatron and Wistron, as well as the first iPhone assembler in mainland China.
Nikkei Asian Review: Tsinghua Unisplendour Bonds plunged
On Tuesday, Tsinghua Unigroup’s bonds plummeted, and the price of the group’s three RMB bonds listed on the Shanghai Stock Exchange fell by 15% to 37%, becoming the bond that fell the most that day.
The main reason for this decline was that China Chengxin International Credit Rating Co., Ltd. (CCXI) downgraded Tsinghua Unigroup’s 3A rating on November 5.
Level downgrades are rare in China, so this downgrade has a great impact on the market.
But Tsinghua Unigroup responded on Monday that CCXI’s decision will not affect the company’s ability to repay debt.
article links：Vaccine will come out, technology stocks are sold off
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