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Wal-Mart invests in China e-commerce retailer 360buy.com

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US chain Wal-Mart has invested in Chinese e-commerce consumer electronics seller 360buy.com, as the world’s largest retailer steps up its presence in China, a report said Tuesday.

Wal-Mart has teamed up with another five investors to inject 500 million dollars into 360buy, whose rivals include Taobao, the dominant online marketplace owned by Alibaba, the Financial Times said, without citing sources.

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A spokeswoman for 360buy declined to comment when contacted by AFP and no one at Wal-Mart’s Beijing office was immediately available to comment.

The US chain has nearly 200 outlets in China, according to its website.

Wal-Mart last month launched a no-frills store format in China targeting low-income and rural consumers, the Financial Times said.

It opened a “compact hypermarket” in the eastern province of Jiangxi that is expected to be the first of a series of stores using a bare-bones model developed in Latin America.

The retailer’s third-quarter sales in China soared 15.2 percent from a year earlier. Global sales in 14 countries outside the United States rose 9.3 percent in the same period, while US sales rose 1.4 percent.

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Wal-Mart is the latest foreign retailer seeking to tap the fast-growing e-commerce market in China.

Internet sales in the country, the world’s biggest web market with more than 420 million users, soared 60 percent year on year in the first half of 2010 to 2.25 trillion yuan (340 billion dollars), state media said in August.

Underlining the growing appeal of the country’s Internet market, sportswear giant Adidas has opened a flagship online store on Taobao. Clothing retailer Gap has opened an e-store along with its first outlets in the country.

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Trump appointee has a Twitter meltdown after public reporting on her far-right beliefs

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A bigoted Trump appointee at the famed U.S. Agency for International Development (USAID) has just quit but not before announcing she is teaming up with infamous conspiracy theorists Jacob Wohl and Jack Burkman at a Thursday press conference, where she will discuss her "Christian beliefs."

Merritt Corrigan, who once complained the U.S. is in the clutches of a “homo-empire” that pushes a “tyrannical LGBT agenda,” according to Pro-Publica, made several announcements via her now unlocked but mostly-all deleted Twitter account.

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MSNBC’s ‘demotion’ of ‘feckless’ Chuck Todd celebrated: ‘Hurray! More Nicolle, less Chuck’

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MSNBC host Chuck Todd was moved to an earlier timeslot where his show, "Meet the Press Daily," will likely earn lower ratings. Meanwhile, Nicolle Wallace seems to have been promoted to a two-hour timeslot leading into primetime.

Wallace, who has extensive experience in Washington, previously served in George W. Bush's White House until abandoning the GOP as the era of Trump came to power.

Todd has made several missteps where he's been unwilling to press GOP leaders who lie openly and obviously on camera.

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George Conway blasts ‘blundering cheat’ Trump in new op-ed: ‘His name should live in infamy’

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Prominent conservative attorney George T. Conway III has written yet another Washington Post op-ed blasting President Donald Trump.

"If there’s one thing we know about President Trump, it’s that he lies and he cheats. Endlessly," Conway wrote. "And shamelessly. But still, mostly, incompetently."

"So it should have come as no surprise that Trump finally went where no U.S. president had ever gone before. In a tweet last week, he actually suggested that the country 'Delay the Election.' That trial balloon was a brazen effort to see if he can defraud his way into four more years in the White House," he explained. "And why not try? After all, Trump has managed to swindle his way through life, on matters large and small, essential and trivial."

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