TikTok

“We’ll either close up TikTok in this country for security reasons, or it will be sold,” Trump told reporters Thursday.

ByteDance Ltd. will dole out the bonus this month to reward employees at a time of unprecedented economic and social upheaval, the company said in an internal memo seen by Bloomberg News.

AI interface technologies such as speech and text recognition, and those that analyze data to make personalized content recommendations, were added to a revised list of export-control products published on the Ministry of Commerce’s website late Friday.

Less than two days after Microsoft Corp. and Oracle Corp. submitted rival bids to China’s ByteDance Ltd. to acquire TikTok’s US business, a dark-horse possible third bidder emerged as the two software makers waited for a response to their offers.

Walmart’s shares jumped as much as 3.6% to US$135.47 ($185.03) in New York following news of the joint pursuit of TikTok, the biggest intraday gain since July 7.

An internal ByteDance 2019 presentation reviewed by Reuters showed that last year TikTok had 43.5 million monthly active users in Indonesia, Vietnam, Thailand, and Malaysia, with the majority female, the biggest online consumers in the region.

Quoteworthy: "Sometimes the marketing moves faster than the process." –— Nereides Antonio Giamundo de Bourbon

He will be replaced by US General Manager Vanessa Pappas on an interim basis, TikTok said in a statement.

TikTok plans to file a lawsuit against the Trump administration on Monday to challenge its executive order banning transactions with the video app in the US, the company said.

TikTok is very addictive — particularly for teens — but whether Microsoft or any other buyer can build on that remains to be seen.