Trump Signs Pair Of Late Night Executive Orders Banning Communications With TikTok, WeChat Parent Companies

Both orders specifically bar “any transaction by any person, or with respect to any property, subject to the jurisdiction of the United States,” with ByteDance and Tencent Holdings, the respective parent companies for TikTok and WeChat, and any of their subsidiaries for the next 45 days. The orders further direct Secretary of State Mike Pompeo […]

SoftBank’s Uber investment may run foul of CCI

“Any such investment typically happens to ensure that their investments don’t keep bleeding,” Nilesh Sangoi, chief executive at Meru Cabs, told ET. “They will obviously try and buy peace. My guess is that they will orchestrate alignment, country by country, of competing businesses,” he said.

Brazilian food processor JBS offers 5,200 new jobs in modernization push, pandemic response

Most of the new positions will be “to modernize the lines and assist in production,” the company said in a statement on Friday. A minority of the new hires are in response to the COVID-19 pandemic, which forced JBS and rivals to remove high-risk workers like pregnant women to protect them during the health crisis.

ArcelorMittal aims to complete negotiations swiftly with Essar CoC

Essar Steel, global giant ArcelorMittal aims to complete the “negotiations as swiftly as possible” with the debt-laden firm’s creditors committee.The Lakshmi N Mittal-owned company, which is the world’s largest steel maker, has been locked in a murky legal battle with other bidders, especially Russian VTB Bank-promoted NuMetal to take over Essar Steel, under the insolvency […]

Essar Steel shareholder seeks ArcelorMittal’s disqualification over ties with loan defaulting firms

Essar Steel Tuesday moved NCLAT seeking rejection of ArcelorMittal’s Rs 42,000 crore bid to acquire the bankrupt steelmaker, alleging that its promoter Lakshmi Mittal hid his association with loan defaulting firms run by his brothers.Seeking ArcelorMittal be declared ineligible to bid for Essar Steel, the petition cited Section 29A of the Insolvency and Bankruptcy Code […]

VIETNAM’S BUSINESS NEWS HEADLINES AUGUST 8

These investment promotion events will be based on Resolution No.50-NQ/TW on orientations to perfect institutions and policies and to improve the quality and effectiveness of foreign investment cooperation until 2030. Accordingly, Vietnam will focus on attracting investment in sectors where EU investors have an advantage or a particular strength, including manufacturing and processing, renewable energy, […]

Windows, Gates and a firewall: Microsoft’s delicate castle in China

The ubiquitous Windows operating system is used in the vast majority of computers in China — despite Beijing promising in recent years to develop its own operating system. The company’s success has a downside, however, as its software is widely pirated.

Virgin Australia plans to shed staff under new US owners

Virgin’s administrator Deloitte’s has entered into a binding agreement to sell the airline to the Boston-based investment firm Bain Capital. The deal will go within weeks for final approval to a meeting of Virgin creditors who are owed 7 billion Australian dollars ($5 billion).

Trump’s WeChat ban could touch everything from Spotify to League of Legends

Tencent is one of the largest tech companies in the world, and it’s spent the last few years buying stakes in video game studios, music companies, and social media apps. It’s bigger than ByteDance, and with significant ownership stakes in Snap, Blizzard, Spotify, and others, it’s far more embedded in the global tech industry. Yesterday’s […]