Daily Management Review
Business & Finance

Downloading Of TikTok And WeChat To Be Banned In US Starting Sunday

Starting this Sunday, Americans will no longer be able to down load the Chinese short video sharing app TikTok and the Chinese messaging app WeChat.    According to an order issued by the United States Commerce Department on Friday, no one in the country will be allowed to download the...

Uptick In Bank Mergers In Europe Signaled By Caixabank’s $5 Bln Deal For Bankia

Signals of an uptick in mergers among Europe’s banks even as they struggle from the impact of the novel coronavirus pandemic re available with the agreement of Bankia being acquired by Caixabank for 4.3 billion euros ($5.1 billion) in an all-share deal which will result in the creation of the...

Thomas Cook reopens as online service

Travel company Thomas Cook, which went bankrupt last year, resumed operations as an online travel service. The service started working on Wednesday, and now tourists can book tours to destinations that are not subject to any prohibitions or restrictions in the UK in the face of a pandemic,...

Kraft Heinz sets to cut costs by $ 2B in five years

Kraft Heinz, one of the world's largest food manufacturers, plans to cut costs by $ 2 billion over the next five years, CEO Miguel Patricio told The Wall Street Journal. The funds saved will be used to stimulate sales of some brands. Marketing spending in general will increase by 30%. "In the...

Cancer Drugmaker Immunomedics To Bee Acquired By Gilead For $21 Billion

The portfolio of the drugs and treatments for cancer of Gilead Sciences Inc will be boosted by the decision of the company to acquire biopharmaceutical firm Immunomedics Inc in a deal that is worth $21 billion. The deal would give Gilead direct access to a promising drug. This was announced by the...

Criticism In Chip Industry Against Arm’s Acquisition By Nvidia

There is likely to be strong opposition from the rivals of Nvidia in the chip industry to the $40 billion acquisition of Arm Ltd from SoftBank Group Corp by Nvidia Corp, said analysts.   According to reports, within hours of the deal's announcement, there were voices of opposition to the...

YouTube launches competitor to TikTok

YouTube platform is launching its service for creating short videos up to 15 seconds long - YouTube Shorts, the company said. “We are pleased to announce the creation of YouTube Shorts, a new service for short videos directly on the YouTube platform...”, the company said in a release. The company...

WSJ names Oracle Corp. as American buyer of TikTok

American corporation Oracle Corp. won a tender to buy TikTok's US operations, The Wall Street Journal reported, citing a knowledgeable source. Oracle will be announced as TikTok's “trusted technology partner” in the US, according to the source. In this case, the final transaction will be formalized...

China Prefers Closure Of TikTok In US Rather Than A Forced Sale: Reuters

Chinese authorities and politicians are willing to see the short video sharing app TikTok to shut down in the United States rather than se the app’s US operations being sold to an American company by the apps Chinese owner ByteDance, reported Reuters quoting sources with knowledge of the matter....

Bankrupt retailer J.C. Penney will be bought by landlords

The two largest owners of shopping malls in the United States, Simon Property Group Inc. and Brookfield Property Partners LP, agreed to purchase the American department store chain J.C. Penney Co., which filed for bankruptcy, for $ 800 million. This was reported by the press service of the...
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