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China

Reuters | Equities.com |

China's ByteDance Ltd is seeking a valuation of $60 billion for TikTok as Oracle Corp and Walmart Inc take stakes in the short-video app's business to address U.S. security concerns, Bloomberg News reported on Sunday, citing an unnamed person familiar with the matter.

Oracle will take a 12.5% stake in TikTok Global and store all its U.S. user data in its cloud to comply with U.S. national security requirements, the companies said on Saturday. ...


AP News | Equities.com |

The U.S. will ban the downloads of the Chinese apps TikTok and WeChat on Sunday, with a total ban on the use of the latter, citing national security and data privacy concerns.

A total ban on the use of TikTok will follow on Nov. 12, but Commerce Secretary Wilbur Ross said early Friday on Fox Business Network that access to that app may be possible if certain safeguards are put into place.

“At the President’s direction, we have ...


Reuters | Equities.com |

Nvidia Corp will buy UK-based chip designer Arm from Japan’s SoftBank Group Corp for as much as $40 billion, the companies said on Monday, in a deal set to reshape the global semiconductor landscape.

The sale puts a vital supplier to Apple Inc and others across the industry under the control of a single player and will face potential pushback from regulators and rivals to Nvidia, the biggest U.S. chip company by market capitalisation.

For Softbank, the sale marks an early exit from Arm, just four years after the technology group’s $32 billion acquisition. Chief Executive Masayoshi Son has lionised the potential of Arm but is slashing his stakes in major assets to raise cash.


Reuters | Equities.com |

ByteDance abandoned the sale of TikTok in the United States on Sunday in pursuit of a partnership with Oracle Corp that it hopes will spare it a U.S. ban while appeasing China's government, people familiar with the matter told Reuters.

The Beijing-based company had been in talks to divest TikTok's U.S. business to either Oracle or a consortium led by Microsoft Corp after U.S. President Donald Trump ordered the sale last month an...


Reuters | Equities.com |

IBM Corp said on Friday the U.S. Commerce Department should adopt new controls to limit the export of facial recognition systems to repressive regimes that can be used to commit human rights violations.

The company said in a statement the United States should institute new export limits on “the type of facial recognition system most likely to be used in mass surveillance systems, racial profiling or other human rights violations.”

In July, the Co...