BUSINESS/FINANCE NEWS
Setup News Ticker
   BUSINESS/FINANCE NEWS
Searching for 'Billion Deal'. (Return)

Yahoo BusinessSep 20, 2020
ByteDance Asserts Control of TikTok and Contests $5 Billion Fee
(Bloomberg) -- ByteDance Ltd. emphasized it will remain in control of a hived-off TikTok Global business, appearing to contradict President Donald Trump's statements about how the new entity will be directed by Americans and pay an unusual $5 billion fee to the U.S. government.The world's most valuable startup sought to play down speculation it's giving up control of valuable Chinese technology and assets after striking a deal with Oracle Corp. and Walmart Inc. to create TikTok Global. ByteDance will retain full control of its prized social media algorithms and allow Oracle only limited access to view source code for "safety" purposes, the company said in a statement posted to its domestic news service Toutiao Monday.Walmart Chief Executive Officer Doug McMillon will join TikTok's board. But ByteDance founder Zhang Yiming and the Chinese company's current directors -- which include Sequoia China's Neil Shen and General Atlantic's William Ford -- will reprise their roles. The statement made no mention of Oracle getting a seat, even though ByteDance said Larry Ellison's company is slated to own 12.5% after a round of funding before TikTok Global goes public within a year. Walmart and Oracle have said American citizens will take up four of the five board seats for TikTok Global.In a blog post entitled "clarifying groundless rumors about TikTok," ByteDance contested Trump's assertions his government will get $5 billion as part of the deal. It said that figure was just an estimate of the amount

USA Today MoneySep 20, 2020
President Trump says $5 Billion from TikTok, Oracle, Walmart deal will go toward education
Trump wants to create an education initiative that teaches children America's "real history."       
TRENDING TAGS
TrumpSupreme Court Biden TikTok deal
TikTokdeal Trump Billion China Oracle
dealTikTok Trump Billion China wants
ChinaTikTok deal pork reserves running
coronavirusCNN cases CDC Bill Gates
BanTrump judge WeChat blocks banks
pandemictravel Key Words Bill Gates
Emmywinners Wins list Creek live
SupremeCourt Trump York Times Ginsburg
EmmysWin winners live TV Creek

NEWS SOURCES
Top News (Business News)
Accounting Today
AdWeek News
Banking Business Review
Barron's This Week Magazine
Barron's Up and Down Wall Street Daily
Brad Ideas
Chicago Tribune Business News
CNBC Business
CNBC Economy
CNBC Finance
CNN/Money
CNN/Money Real Estate News
Dismal.com: Analysis
Dismal.com: Indicators
Enterprise Application News
Entrepreneur.com
Forbes Headlines
Forbes Social Media News
FT.com - China, Economy & Trade
FT.com - Financial Markets
FT.com - Hedge Funds
FT.com - Telecoms
FT.com - US
Google Business News
Google Market News
HBS Working Knowledge
Inc.com
INSEAD Knowledge
International Tax Review
Kiplinger
Knowledge@Wharton
L.S. Starrett News
MarketWatch
MarketWatch Breaking News
MarketWatch MarketPulse
McKinsey Quarterly
MSNBC.com: Business
Nielsen Trends
NonProfit Times
NPR Topics: Business
NYTimes Business
OpinionJournal.com
Private Equity Breaking News
Reuters Business
Reuters Company News
Reuters Money
SEC.gov Updates: News Digest
SHRM HR News
Tax Policy News
The Economist International News
The Motley Fool
USA Today Money
Wall Street Journal US Business
Wall Street Transcript
Washington Post Business
WSJ Asia
WSJ Europe
WSJ MoneyBeat
WSJ Opinion
WSJ US News
WSJ World Markets
Yahoo Business
  • CEOExpress
  • 1 Boston Place | Suite 2600
    Boston MA 02108
  • 617 482 1200
    617 299 8649 (fax)
  • Contact
  • As an Amazon Associate
    CEOExpress earns from
    qualifying purchases.

©1999-2020 CEOExpress Company LLC