Oracle’s stock surged Monday after reports that China-based ByteDance has chosen it to be TikTok’s U.S. technology partner. A person familiar with the discussionsthat ByteDance picked the Oracle to be the U.S. partner of the popular social video app. Oracle also will take a significant stake in the business, the person said. Earlier Sunday, Microsoft said ByteDance had […] Read more
The U.K. and Japan on Friday agreed in principle to a trade deal, in a move that sees the U.K. strike its first major agreement post-Brexit. The announcement, which the U.K. hailed as a “historic moment,” comes as Britain struggles to secure an agreement with its closest trading partners in the European Union. Britain’s trade department […] Read more
Huawei launched the second version of its own operating system on Thursday and it will be run on its smartphones for the first time next year as an alternative to Google’s Android. Last year, Huawei took the wraps off HarmonyOS, its own cross-device operating system. It came after the company was put on the U.S. Entity List, a blacklist […] Read more
Disney is facing backlash after the final credits for its latest film “Mulan” thanked government entities in Xinjiang, the province where Muslims have faced human rights abuses. The film had already generated controversy after its lead actress, Liu Yifei, recently expressed support for police crackdowns in Hong Kong, spurring talks of boycotts on social media. That […] Read more
Lebanon’s central bank governor told http://beirutblogpost.com/ this week that he wants to help the country in its time of distress — and he won’t resign. “You cannot resign … in an environment of a crisis, because it would look like going away from the task you have to perform,” Riad Salameh said. “I don’t want to […] Read more
China’s foreign ministry said on Monday it was still “processing” visa extension applications for several foreign correspondents affiliated with American media amid reports that more foreign journalists in China have been caught in the ongoing spat between Beijing and Washington. Hua Chunying, head of the Ministry of Foreign Affairs’ press department, tweeted in the afternoon […] Read more
Chinese developers are facing the biggest liquidity test in more than four years, exacerbating challenges brought on by stringent funding restrictions and a prolonged profitability drop. Cash reserves of the nation’s 50 largest-listed homebuilders were just enough to cover short-term debt as at June 30, the least since 2016 when China began deleveraging its economy, […] Read more
Amid Tesla’s record rise that has seen shares soar to new highs, the company said Tuesday that it will sell up to $5 billion in stock. The additional shares will be sold “from time to time” and “at-the-market” prices, a filing with the Securities and Exchange Commission said. Banks will sell shares based on directives from Tesla. […] Read more
Walmart and Microsoft might seem like an unlikely partnership to acquire TikTok’s U.S. assets, but until very recently the retailer had other plans. Before teaming up with Microsoft in recent days, Walmart was part of a consortium put together by SoftBank Chief Operating Officer Marcelo Claure, which also included Google parent company Alphabet, according to people familiar with the matter. SoftBank’s Claure […] Read more
Facebook CEO Mark Zuckerberg warned President Donald Trump at a White House dinner last October that Chinese tech firms posed a direct threat to the U.S. business, according to a report from The Wall Street Journal that cites people claiming to be familiar with the matter. He is said to have argued that clamping down on these […] Read more
