Oracle tipped as buyer of TikTok’s U.S. business
Software giant Oracle has been tipped as a possible buyer of TikTok’s business in the U.S. with President Trump throwing his support behind such a deal. The BBC reported: US President Donald Trump has said tech giant Oracle would be “a great company” to take over TikTok’s US operations. It comes after Oracle was reported […]
Apple, Google kick out Fortnite, maker launches legal battle
Apple and Google removed popular game Fortnite from their app stores after Epic Games added a direct payment option, prompting the company to take legal action. Taylor Hatmaker from TechCrunch reported: Epic added a direct payment option to its mobile game early Thursday, prompting Apple to remove Fortnite from the App Store. Now, the Android […]
Sumner Redstone dies at 97
Media mogul Sumner Redstone has dies at the age of 97. Brian Lowry reported the news for CNN: Sumner Redstone, a media titan and billionaire who, as chairman of Viacom and National Amusements, drew headlines both for his deal-making as well as his turbulent personal life, died on Tuesday. He was 97. At his peak, […]
Fake news story sends railroad stock soaring
Shares of Kansas City Southern soared last week after a fake Spanish website reported that it would be bought for a higher price than initially offered, reports Crystal Kim and Heather Perlberg of Bloomberg News. Kim and Perlberg report, “But a dispatch last Thursday from a website called El Negocio said Blackstone and a partner […]
Tesla plans stock split after price soars
Tesla is planning a 1-to-5 stock split after the price of its shares skyrocketed, making it more difficult for retail investors to buy into the company. Claudia Assis reported the news for MarketWatch: Shares of Tesla Inc. surged more than 7% in the extended session Tuesday after the Silicon Valley car maker’s board approved a […]
Judge orders Uber, Lyft to classify drivers as employees
A judge in California told Uber and Lyft to reclassify their drivers from independent contractors to employees. Bobby Allyn reported the news for NPR: A California judge has ordered Uber and Lyft to reclassify their workers from independent contractors to employees with benefits, a ruling that could be consequential for gig economy workers if it […]
FT reporters who broke Wirecard story sign with agency
Dan McCrum and Paul Murphy, the Financial Times journalists who investigated and revealed the Wirecard scandal, have signed with WME, reports Bruce Haring of Deadline Hollywood. Haring reports, “The agency will represent them across film, television, books and podcasts. “Murphy oversaw the five-year investigation into the German fintech company, with McCrum serving as the lead reporter. Through […]
Disney books $5-bln loss in Q2
Disney reported a loss of nearly $5 billion for the second quarter as national lockdowns kept its theme parks closed. Curtis Tate reported the news for USA Today: The Walt Disney Company lost nearly $5 billion April, May and June, while its theme parks were shut down due to the coronavirus pandemic, according to a […]
GM rekindles legal spat with Fiat Chrysler
GM has approached a federal judge with a request to reinstate a case against Fiat Chrysler alleging bribery of GM employees and union members claiming new evidence. Nick Carey and Sanjana Shivdas reported the news for Reuters: General Motors Co on Monday asked a U.S. federal judge to reinstate a racketeering lawsuit against Fiat Chrysler […]
Microsoft in talks to buy TikTok
Microsoft is negotiating the purchase of short video service TikTok despite President Trump’s threat to ban TikTok in the U.S. Clare Duffy reported the news for CNN: Microsoft says it is still discussing a potential purchase of TikTok, days after President Donald Trump said he would ban the popular short-form video app from operating in […]
