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Global News Impacting Chinese Tech

WeChat owner’s sales fall as China economy slows

News Snapshot:

[WeChat owner’s sales fall as China economy slows] Chinese tech giant Tencent has cut more than 5,000 staff and shut down parts of its business as it grapples with its first sales fall in its history. Revenue at the firm slipped 3% year-on-year in the April-June period, hit by declines in ad spending and at its online gaming business.…

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