China's new rules around tech exports mean ByteDance's sale of TikTok's US operations could need Beijing's approval, a Chinese trade expert told state media, a requirement that would complicate the forced and politically charged divestment.
Oracle's long-running legal challenge to how the Pentagon set up its $10 billion JEDI cloud computing contract has been rejected by a US appeals court.
TikTok's prospective buyers are discussing four ways to structure an acquisition from its Chinese owner ByteDance, which include buying the app's U.S. operations without key software, after Beijing stalled a deal which could be worth $30 billion, sources said.
Deal talks for TikTok’s U.S. operations have been complicated by the key question of whether the app’s core algorithms can be included as part of a deal, according to people familiar with the matter.
Oracle has held preliminary talks with TikTok's Chinese owner, ByteDance, and was seriously considering buying the app's operations in the United States, Canada, Australia and New Zealand, the Financial Times newspaper reported on Monday.
Buffett sold 84% of his stake in Goldman Sachs, a longtime holding.
Zoom and Oracle did not disclose the size of the deal, but said traffic for millions of meeting participants is being handled by Oracle's cloud service and about 7 million gigabytes of Zoom data per day is flowing through Oracle servers.