Pdd (NASDAQ: PDD), a rising star in China's e-commerce industry -- and better known as Pinduoduo -- has come from nowhere to become a leading rival to Alibaba Group and JD.com in that market. Launched in 2015, Pinduoduo is already the second-largest e-commerce platform in China, behind only Alibaba. From the start, instead of focusing on search-based e-commerce -- the conventional method used by giants like Amazon and Alibaba -- the company focused on social e-commerce. Read More...
Venezuelan oil gets more US buyers as Chevron steps up loadings
Chevron Corp has stepped up sales of Venezuelan crude oil to rival U.S. refiners, adding PBF Energy Inc and Marathon Petroleum Corp to its list of customers for the crude, vessel tracking and loading schedules showed. U.S. Gulf Coast refiners, which historically processed Venezuelan oil, have shown a renewed appetite for the heavy sour crude grade after Chevron late last year received authorization from the U.S. Treasury Department to expand its operations in Venezuela and resume oil shipments to the U.S. after a four-year pause. Chevron, the last big U.S. oil producer still operating in U.S.-sanctioned Venezuela, has increased exports of the crude since January.