News & Views
Amazon is closing its Kindle store in China
Business
07 June 2022
Amazon is shutting down its Kindle bookstore in China, marking another retreat by a Western tech giant in the world's second biggest economy.
The company announced Thursday that starting July 2023, Kindle users will not be able to buy online books in the country.
Existing customers will be able to download previously purchased titles until June 2024. Amazon (AMZN) also said it would stop supplying Kindle devices to retailers starting Thursday.
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Social media stocks plunge on Snapchat warning
Business
07 June 2022
Facebook and Instagram owner Meta Platforms (FB) fell nearly 8% while Pinterest (PINS) tumbled more than 20%. YouTube and Google parent Alphabet (GOOGL) slid 5% and the Global X Social Media ETF (SOCL), which owns shares in all of these companies, fell 8%.
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