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Yahoo BusinessSep 20, 2020
Oracle TikTok Deal Wins Trump's Blessing: Deal at a Glance
(Bloomberg) -- Oracle Corp.'s agreement to take a stake in TikTok has won the long-awaited blessing of U.S. President Donald Trump.The proposal, which would give Oracle and other investors minority ownership of a new company called TikTok Global, still needs approval from regulators in China, where TikTok's parent ByteDance Ltd. is based.Trump's praise for the agreement suggests that weeks-long deliberations over the fate of a popular music and video-sharing app are nearing completion. ByteDance began holding discussions with investors in its U.S. operations after the Trump administration threatened to shutter the business, saying that it poses a threat to national security.While some of the terms remain undetermined, here's what's known about the deal, based on public statements and people with knowledge of the matter:What We KnowWho's in and who's outOracle plans to take a 12.5% stake in a round of financing that would precede an IPOTikTok also said that together, Oracle and Walmart Inc. could end up with as much as 20%The new company, called TikTok Global, will raise a pre-IPO round of financing and seek a U.S. IPO in less than 12 monthsA host of other companies made proposals or considered bidding; Microsoft Corp. was rebuffed because it wanted to control all of TikTok in the U.S., a condition that didn't sit well with BeijingWhat the deal looks likeOracle will be TikTok's "trusted technology provider," meaning Oracle will house the entity's data in its U.S. servers -- a boon to a cloud computing busi

Yahoo BusinessSep 20, 2020
U.S. Stock Outperformance Portends More Dark Days for the Dollar
(Bloomberg) -- The dollar's weakest quarter in a decade may get even worse as investors respond to the effects that massive American equity-market gains have had on the composition of their portfolios.The Bloomberg dollar index has plunged close to 5% this quarter and is on track for its biggest slide since 2010 as America's economy shows signs of recovering from its pandemic-induced slump. That more upbeat narrative has helped to underpin a 7% rally in the S&P 500 Index that puts to shame to gains in stocks from Japan to the euro area and Canada -- not to mention losses for U.K. and Australian equities.The U.S. outperformance, though, may prompt global portfolio managers to realign weightings of their holdings in an effort to maintain appropriate risk levels. This process -- often carried out in the days leading up to month-, quarter- or year-end -- usually involves selling an outperforming asset and purchasing those that lag in order to get holdings back to target allocations.In the days ahead, that could lead to investors selling dollars and buying currencies linked to underperforming share markets, such as the British pound and Australian dollar.Moreover, with equity and currency volatility levels holding firm, rebalancing flows may begin to enter the market sooner rather than later as managers adjust holdings ahead of the last day of the quarter.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloo

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Yahoo BusinessSep 19, 2020
Oracle, Walmart Invest in TikTok to Gain Social Media Toehold
(Bloomberg) -- Oracle Corp. and Walmart Inc. plan an minority investment in TikTok Global, giving companies that have little experience in social media a stake in a fast growing music and video-sharing app that became the focal point of a trade standoff between the U.S. and China.Oracle and Walmart together could end up with as much as 20% of the entity, purchased in a round of financing that would precede an initial public offering, the companies said Saturday. Sequoia Capital and General Altantic, current investors in TikTok parent ByteDance Ltd., could also pursue stakes in the fundraising round, a person with knowledge of the matter said. ByteDance will retain majority control.ByteDance commenced a search for investors in TikTok's U.S. operations after Trump proclaimed that TikTok was a threat to U.S. national security, and ordered the app be sold to an American business or shut down by Sept. 20. The president said Saturday that he gave his "blessing" to the "concept" of the deal, even though ByteDance will retain such a large stake.For Oracle, the partnership fits with a plan to become a provider of a broad range of computing services delivered via remote server farms, rivaling leaders Amazon.com Inc., Microsoft Corp. and Alphabet Inc. The strategy, announced with fanfare half a decade ago, had mixed success. As of last year, Oracle had grabbed such a small share of the cloud computing and storage market that research firm Gartner Inc. didn't even tabulate the figure. In 2018 Gartner classified Oracle as

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