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Fintech Focus For September 22, 2020
Monday, September 21, 2020 - 7:33pm | 1543Quote Of The Day: A friend is one soul abiding in two bodies. - Aristotle Fintech Movers: Federally chartered banks can hold reserve funds for stablecoin issuers, according to new guidance from the U.S. Office of the Comptroller of the Currency. - Block Binance creates exclusive Innovation Zone....
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ByteDance Denies Most Of Trump's Claims On TikTok Deal With Oracle, Walmart
Monday, September 21, 2020 - 4:58am | 368ByteDance is shooting down the U.S. optimism surrounding the TikTok deal with Walmart Inc (NYSE: WMT), and Oracle Corporation (NYSE: ORCL). What Happened: Neither U.S. company will not gain ownership rights for TikTok’s video recommendation algorithms or the technology that powers...
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Trump Said TikTok Deal Would Create $5B Patriotic Education Fund. ByteDance Says It Has No Clue
Sunday, September 20, 2020 - 11:16pm | 362President Donald Trump suggested Saturday that the TikTok deal he gave his "blessing" to involved a $5 billion education fund for the United States, but ByteDance claims it didn't hear of this until media reports emerged. What Happened: “They are going to pay $5bn into a...
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Why Trump's TikTok Ban Could Be 'Fort Sumter Moment' In Cold Tech War Between US, China
Friday, September 18, 2020 - 11:03am | 826The drama over the fate of popular Chinese-owned social media platform TikTok is ongoing Friday, with the U.S. Commerce Department announcing that it will ban U.S. business transactions on TikTok starting Sunday. What Happened? Chinese-owned TikTok and WeChat will seemingly no longer be able...
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TikTok Parent Proposes US IPO Post-Oracle Deal To Gratify Trump
Thursday, September 17, 2020 - 10:45pm | 363ByteDance plans to take TikTok public in the United States after it forms a partnership with Oracle Inc (NYSE: ORCL), the Financial Times reported Wednesday. What Happened: The Chinese parent of TikTok made a commitment to list the short-form video app's shares in the U.S. as a part of its...
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Fintech Focus For September 18, 2020
Thursday, September 17, 2020 - 9:57pm | 2110Good morning! If you're new to the Fintech Focus, you can subscribe here! Quote Of The Day: You can do everything right and still fail. - Will Eastman Fintech Movers: Banking giant UBS is skeptical that Bitcoin is a safe-haven asset, according to a report issued on September 9 by its Swiss...
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Confusion Over ByteDance, TikTok Ownership Pattern Said To Be Latest Sticking Point In Oracle Deal
Thursday, September 17, 2020 - 12:22am | 389Trump Administration wants investors from the United States to hold a majority stake in ByteDance-owned short-form video app TikTok, the Wall Street Journal reported Wednesday. What Happened: The Beijing-based company is partnering with Oracle Corporation (NYSE: ORCL) to form a new U.S.-based firm...
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TikTok To Operate As A US Company Worldwide, With ByteDance As Majority Stakeholder: FT
Wednesday, September 16, 2020 - 2:06am | 430ByteDance-owned short-form video app TikTok will operate as a standalone company based in the United States encompassing its entire global operations, where Oracle Corporation (NYSE: ORCL) would hold a minority stake, the Financial Times reported Tuesday. What Happened: Oracle will also have a...
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'Partnership Better Than Acquisition': Analysts React To Oracle-TikTok Deal
Monday, September 14, 2020 - 11:31am | 629Oracle Corporation (NYSE: ORCL) shares were up 5% on Monday after the company confirmed a deal with TikTok parent company ByteDance to become the company’s “trusted technology provider.” The new deal between TikTok and Oracle comes after Microsoft Corporation (NASDAQ: MSFT) said...
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TikTok Parent Plots Southeast Asia Expansion, As Setbacks Continue In US
Friday, September 11, 2020 - 4:52am | 396After filing a lawsuit against President Donald Trump's administration, Chinese technology company ByteDance is planning to expand its operations in Singapore. Over the next three years, the company might invest billions and hire thousands of employees in the region, Reuters...
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TikTok Parent In Talks With US To Retain Part Ownership Of Video App: WSJ
Wednesday, September 9, 2020 - 9:40pm | 426China’s ByteDance Ltd, the parent company of TikTok, is in talks with the United States government with the aim of retaining part ownership of the short-form video app, the Wall Street Journal reported Wednesday. What Happened: Discussions revolve around multiple options, including a sale or...
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How TikTok's Value Per User Compares To Facebook And Other Social Media Platforms
Monday, August 31, 2020 - 8:44pm | 644Breakout social media platform TikTok is in the middle of a bidding war after President Donald Trump said he is banning U.S. transactions on TikTok starting on Sept. 20 unless Chinese parent company ByteDance finds an American buyer for the company by that date. A TikTok sale is reportedly...
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The Latest From TikTok's Sale Process: Triller Bid, Chinese Commentary
Monday, August 31, 2020 - 1:11pm | 508TikTok owner ByteDance insists it hasn't received a bid offer from smaller rival Triller, but Triller insists it has "confirmation" of a submitted offer, Chairman Bobby Sarnevesht said on CNBC's "Squawk Box Asia." Bid Offer Went 'Pretty High Up': ByteDance...
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TikTok Denies Smaller Rival Triller Made $20B Buyout Offer
Monday, August 31, 2020 - 4:01am | 501ByteDance-owned video-sharing app TikTok maintains that it never received a buyout offer from rival Triller and London-based Centricus Asset Management, as claimed by the latter two, according to CNBC. What Happened: “We can confirm that we are not and will not be in talks with them....
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New Chinese Tech Regulations Complicate The TikTok Deal
Sunday, August 30, 2020 - 11:54am | 408What Happened: Chinese authorities have imposed new regulations on technology exports which could complicate matters for the TikTok deal, The Wall Street Journal reported on Saturday. As per the latest directives from the Chinese authorities, computing and data-processing technologies, voice...