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UPDATE 1-Delivery service firm Takeaway's quarterly orders surge on acquisitions

Dutch online food delivery company Takeaway.com reported an 87% increase in third-quarter orders on Wednesday, driven by organic growth and acquisitions. The company processed 41.6 million orders across its markets in the period, supported by strong sales in Germany where it completed the acquisition of the local arm of the world’s biggest online food delivery firm, Delivery Hero, in April. Most players, excluding Britain’s Just Eat, are yet to produce profits as they spend heavily on marketing and acquisitions. …read more […]

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NBA fans in China seek refund from Tencent as streaming suspended

Some Chinese National Basketball Association (NBA) fans have asked for streaming subscription refunds from exclusive service provider Tencent amid a deepening free speech row, a move that could cause the tech giant financial pain. Tencent Holdings renewed its exclusive digital partnership with the NBA in July, securing rights to stream U.S. games in China, a market with an estimated 500 million fans. Tencent halted broadcasting games involving the Rockets over the weekend and later said it would stop broadcasting the entire preseason after NBA commissioner Adam Silver voiced his support for Morey’s “freedom of political expression” on Tuesday. …read more […]

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Sensex, Nifty flat as investors eye second-quarter results; Yes Bank, Titan drop

Indian shares were largely unchanged on Wednesday, as global equities took a beating after U.S.-China standoff broadened and as investors kept a cautious stance ahead of September-quarter corporate results. Broader Asian peers fell the most in a week as the United States and China’s broadening dispute over trade and foreign policy showed little sign of coming to an end, weighing on global economic growth. The negotiations, which have been the global markets’ most important catalyst for months, have weighed on investor sentiment. …read more […]