May 19, 2017 / 9:49 PM / 2 months ago

Business Watch: We Chat apps ambition

2 Min Read

WeChat mascots are displayed inside Tencent office at TIT Creativity Industry Zone in Guangzhou, China May 9, 2017. Picture taken May 9, 2017.Bobby Yip

Hot stories from the last couple of days:Fresh off the press: more turmoil in Brazil where a political scandal involving President Temer is roiling markets.

A testimony released on Friday by the country's Supreme Court alleges that Temer took more than $4 million in bribes from Brazilian meatpacking giant JBS. The plea bargain document also mentions former President Lula, who allegedly has $50 million stashed away in offshore accounts.

WeChat spreads its tentacles

The uber popular Chinese messaging app has hired an additional army of 1,500 developers, mainly twentysomething males, to increase user engagement through new 'mini-programs.' These are practically regular apps like those available on IOS or Android, but less data-intensive. Read more here

Hackers' favorite cryptocurrency

Bitcoin is well-entrenched as the payment method of choice of most cyber criminals, but some emerging virtual currencies are threatening to displace it. Read more here

It's not bad, but it could be better

As the tenth anniversary of the global financial crisis approaches, and despite clear signs of recovery, progress remains halting. The debt crisis engulfing Greece is still very much a worry in Europe, and pay is rising slowly in the United States even with unemployment at its lowest in a decade. Read more here

Full tanks and tankers despite OPEC cuts

With U.S. shale oil production surging, the OPEC deal to cut production isn't panning out as expected. Read more here

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