The haggling over TikTok is the latest signal of a change in U.S.-China deal-making: rather than buying each other, companies may soon be looking to sell their cross-border holdings. Amid the shock of the coronavirus pandemic and escalating U.S.-China tensions in the first half of this year, the total value of foreign direct investment and venture capital […] Read more
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
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
Chinese state media labeled the U.S. a “rogue country” and dubbed the potential sale of social media firm TikTok to Microsoft as “theft,” adding that Beijing could retaliate if a deal is sealed. Microsoft announced plans on Sunday to acquire TikTok’s business in certain markets — the U.S., Canada, Australia and New Zealand. Commenting on the matter, President […] Read more
TikTok users in the U.S. and Hong Kong are deeply concerned after realizing that political matters may have jeopardized their future on the app. U.S. Secretary of State Mike Pompeo told Fox News on Monday that he is “looking at” banning TikTok and other Chinese social media apps amid rising tensions between Washington and Beijing. Within […] Read more
