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OpenAI starts talks with Microsoft about new funding and future IPO 05/12/2025

Markets Rally on US–China 90-Day Tariff Pause as Investors Brace for Protracted Talks 05/12/2025

U.S. Slashes China ‘De Minimis’ Tariff to 54% as Trade Truce Takes Effect 05/13/2025

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Business & Finance

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...

EU Urges Facebook, Google, Twitter And Others To Do More To Combat Fake News

The European Commission has said that there is need for Facebook, Alphabet's Google, Twitter and other tech companies with such platforms to be more proactive and try harder to to be more effective to tackle misinformation and fake news. These companies agreed to a self-regulatory code of...

WTO Leadership Selection Is Critically Dependent On US President Elections

Ambassadors of 164 member countries with the World Trade Organization (WTO) met with senior officials for private ‘confessionals’ to convey who country supported as the head of the global trade regulator which indicated a push by the organization to select a new leader. But according to...

Deutsche Bank subsidiary to pay US over $ 582,000 in fines

Deutsche Bank Trust Company Americas (DBTCA, a subsidiary of the German Deutsche Bank) has agreed to pay a fine of more than $ 582,000 for violating US sanctions imposed on Russia over Crimea. According to the US Treasury Department, this is a series of violations. The investigation established...

Quotes of European oil grades fall below $40 per barrel

For the first time since the end of June, the price of North Sea Brent oil fell below $ 40 per barrel. The commodity market was negatively impacted by the decision of Saudi Arabia to lower oil prices for key clients, as well as by a global decline in risk appetite among investors. If the negative...

Samsung To Close Production At Its Only China TV Factory By November

In its latest plans of shifting out it production facilities from China – the second largest economy of the world, South Korean electronics giant Samsung has now decided to stop production of televisions at the only remaining TV production unit in the country by the end of November, said a...

Japans’ SoftBank To Jointly Operate Oyo Business In Latin America: Reuters

According to the head of Oyo Brazil, Japan’s Softbank Group will get involved in a direct role in the management of its hospitality startup Oyo’s operations in Latin America amid the novel coronaviorus pandemic hit to the travel and tourism industry. For this purpose, a joint venture will be formed...

Capgemini Forecasts Double-Digit 2020 Revenue Growth And A Recovery In Second Half

The diversification of its business has helped the French consulting and IT services provider Capgemini to tide over the economic impact of the novel coronavirus pandemic which helped the company to forecast an expected double-digit revenue growth in 2020 along with forecasting a gradual recovery...