News Snapshot:
TAIPEI (Reuters) - Taobao Taiwan shut its e-commerce site on Thursday after the government ordered the firm to re-register as China-backed or leave the island, part of a drive to increase scrutiny over Chinese firms amid rising tensions between Taipei and Beijing. British-registered Claddagh Venture Investment, which runs Taobao Taiwan, said it had shut the e-commerce site due to "multiple uncertainties in the market". It did not elaborate. Claddagh said it will shut its Taiwan operation by end-2020, adding it will help merchants deliver existing orders to buyers. "After cautious deliberations ... the company has made a painful decision to...
