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Microsoft has said that its offer to buy the US operations of hugely popular video-sharing app TikTok has been rejected, paving the way for Oracle to make a last-minute bid. US President Donald Trump gave a 15 September deadline for the Chinese-owned app to sell or shut down. The Trump administration claims TikTok and other […]

Tech giant Apple has become the first US company to be valued at $2tn (£1.5tn) on the stock market. It reached the milestone just two years after becoming the world’s first trillion-dollar company in 2018. Its share price hit $467.77 in mid-morning trading in the US on Wednesday to push it over the $2tn mark. […]

The Japanese giant Toshiba has sold its final stake in the personal computer maker Dynabook. It means the firm no longer has a connection with making PCs or laptops. Sharp bought 80% of Toshiba’s personal computing arm in 2018 for $36m (£27m), and has now bought the remaining shares, Toshiba said in a statement. Toshiba’s […]

TikTok is threatening legal action against the US after Donald Trump ordered firms to stop doing business with the Chinese app within 45 days. The company said it was “shocked” by an executive order from the US President outlining the ban. TikTok said it would “pursue all remedies available” to “ensure the rule of law […]

Donald Trump says the government should get a cut from the sale of TikTok’s US unit if an American firm buys it. The US president said he made a demand for a “substantial portion” of the purchase price in a phone call at the weekend with Microsoft’s boss. He also warned he will ban the […]

Africa’s biggest supermarket chain, South African-owned Shoprite, says it is considering pulling out of Nigeria. It said it was looking at selling all “or a majority stake” of its operations in Africa’s most-populous country. Shoprite is the latest South African retailer to look at leaving Nigeria – clothing firm Mr Price announced its exit in […]

WhatsApp has launched its digital payments service in Brazil as the messaging app capitalises on its popularity in emerging markets. The move comes as parent company Facebook pushes ahead with plans to bring more e-commerce to its platforms. WhatsApp Pay allows users to send money to one another for free or make purchases from small […]

Nearly a million businesses in the UK and around the world can now set up a single online store to sell products, with no fee, on Facebook and Instagram. The initial stage of the Facebook Shops rollout has been brought forward and extended because of Covid-19. The stores will appear on business pages, Instagram profiles […]

Saudi Arabia is tripling its value added tax (VAT) as part of austerity measures to support its coronavirus-hit economy. The government in Riyadh also said it will suspend its cost of living allowance to shore up state finances. The oil-rich nation has seen its income plummet as the impact of the pandemic has forced down […]

The mobile-first streaming service Quibi launched in the US on Monday, despite concerns the coronavirus outbreak might impact its viewership. The company has raised $1.8bn (£1.47bn) for the project intended to rival Netflix and YouTube. Quibi’s shows are 10 minutes or shorter and movies are broken into segments. It has lined up a host of […]


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