ByteDance Financial News

14.09 / 18:01

UPS BLOCK Platform ByteDance TikTok social foreign Yellen details tighter scrutiny of investment plans of foreign-owned companies operating in the US

The Biden administration plans to increase scrutiny of the investment plans of foreign-owned companies operating in the United States

12.09 / 19:35

Facebook ByteDance TikTok Instagram Inside social TikTok Shop launches in the U.S. as the company bets big on e-commerce

After months of testing, TikTok is fully launching its e-commerce product in the U.S., in an effort to translate the app’s cultural relevance among young consumers to sales

12.09 / 11:29

CEO Strategy ByteDance Baidu social Alibaba's new CEO Wu promotes AI to top priority

Alibaba Group Holding Ltd. (NYSE:BABA) is placing a strong emphasis on artificial intelligence (AI) and user experience under the leadership of new Chief Executive Officer Eddie Wu.

12.09 / 11:29

Platform ByteDance TikTok country social TikTok launches online shopping in the US

(Reuters) — TikTok has officially rolled out its e-commerce business in the United States after months of testing, according to a blog post on Tuesday, as its Chinese-owner ByteDance looks to capitalize on the popularity of the social media app.

11.09 / 15:13

UPS IPO Progressive CEO ByteDance Huawei The Alibaba Spinoff Trade Loses More Steam

An unexpected twist to Alibaba’s changing of the guard—and a drip feed of other bad news—has undermined the bullish sentiment surrounding the Chinese e-commerce giant earlier this year. And given how China-adverse investors have become, it may be tough to reverse that without an all-clear for the economy more broadly—especially since Alibaba executives may be tempted to slow-walk restructuring plans as long as China’s stock markets remain in the doldrums. Alibaba’s Hong Kong-listed shares fell 3% Monday in the wake of two potentially significant developments: a report from Bloomberg, citing sources, that the firm would put on hold a potential IPO of its Freshippo grocery chain, and a surprise personnel change.

06.09 / 11:59

Digital Amazon Microsoft Platform Apple ByteDance European Commission EU lists Alphabet, Amazon, Meta and three other tech giants as 'gatekeepers' under strict competition rules

The European Commission on Wednesday said it designated six tech giants as «gatekeepers» under its new Digital Markets Act — a strict set of rules that could shake up the business models of large digital platforms.

05.09 / 20:35

UPS ByteDance TikTok TikTok's Irish data center up and running as European privacy project gets under way

TikTok says operations have started at the first of its three European data centers, part of the popular Chinese owned app’s project to ease Western fears about privacy risks

05.09 / 18:11

UPS Provident Digital ByteDance TikTok social TikTok hires Britain's NCC for auditing data security

TikTok has hired British cybersecurity firm NCC to audit its data controls and protections, and provide independent verification, as part of the social media company's data security regime, nicknamed «Project Clover». Several government bodies have banned TikTok from staff phones due to growing concerns about the company, which is owned by Chinese firm ByteDance, and whether China's government could harvest users' data to advance its interests.

29.08 / 05:13

UPS CEO Platform Oracle ByteDance TikTok TikTok's US future still in limbo as commerce secretary visits China

Gina Raimondo's visit to China is putting a spotlight on the future of TikTok in the United States, where criticism of the app and its ties to Beijing reached a fever pitch this year. Despite the intense pressure on the popular short-form video app, which is owned by Chinese technology company ByteDance, efforts to ban or regulate it in Washington have not borne fruit. And even with all that scrutiny, Raimondo is not planning to discuss TikTok while in China, a glaring omission that reflects the impasse at which it has left the Biden administration. The administration has been stymied by how to deal with TikTok even as intelligence officials have warned that it poses a national security threat.

22.08 / 20:33

FIVE Cooper Citizens Platform ByteDance TikTok social Courts Montana asks judge to allow TikTok ban to take effect while legal challenge moves through courts

Montana is asking a federal judge to allow its law banning new downloads of TikTok to take effect while a legal challenge filed by the company and five content creators moves through the courts

18.08 / 00:49

UPS Digital Platform Tencent ByteDance show What China's big earnings say about the consumer

BEIJING — Corporate earnings releases are picking up on a few bright spots for China's consumer in a competitive market where people are less willing to open their wallets.

17.08 / 03:05

Williams Action Software ByteDance TikTok show social Close to half of Americans favor TikTok ban: Reuters-Ipsos poll

China. TikTok, owned by Chinese tech giant ByteDance and used by tens of millions of Americans, has faced calls from U.S. lawmakers for a nationwide ban over concerns about possible Chinese government influence.

17.08 / 02:17

Citi Reuters Platform Mobile Apple ByteDance TikTok New York City bans TikTok on govt devices over security concerns: Report

TikTok’ on government-owned devices due to security concerns, joining a number of US cities in it, according to a report published by the news agency Reuters. In an official statement, the administration of New York City Mayor Eric Adams said, “TikTok posed a security threat to the city's technical networks." The agencies are required to remove the application within 30 days and employees will lose access to the app and its website on city-owned devices and networks. The City has already banned TikTok on state-issued mobile devices, Reuters reported.

16.08 / 23:07

Citi BLOCK Williams Mobile Software ByteDance TikTok New York City bans TikTok on government-owned devices over security concerns

By Kanishka Singh

15.08 / 12:01

Platform Entertainment Tencent ByteDance social Tencent Music's quarterly revenue rises as more Chinese users pay for music

China's Tencent Music Entertainment Group said on Tuesday second-quarter revenue rose 5.5% from a year ago, driven by growth in paying users on its Spotify-like music streaming platform and a recovery in the advertising market. Total revenue of the company, controlled by Chinese tech giant Tencent Holdings Ltd, stood at 7.29 billion yuan ($1.00 billion) in the quarter ended June 30, in line with Wall Street estimates, according to Refinitiv data.

15.08 / 00:35

Target Platform ByteDance TikTok country social Risky China apps need India-style action: FCC Commissioner Brendan Carr

Federal Communications Commission (FCC) Commissioner Brendan Carr told ET. The US and other countries are still grappling with the alleged privacy risks associated with Chinese apps such as TikTok.

12.08 / 01:17

Provident Platform Strategy ByteDance TikTok social TikTok owner bets on Resso & Lark for a Byte of India market

ByteDance is relying on its music streaming app Resso and 'all-in-one' productivity app Lark to forge ahead in the Indian market, three years after its flagship short-video app TikTok and others like Helo and CapCut were banned by the government. Resso, which also operates in Brazil and Indonesia, counts India as its largest market. According to AppMagic, it has been downloaded over 125 million times in the country.

08.08 / 03:05

BLOCK Progressive Platform ByteDance TikTok US tech groups back TikTok in challenge to Montana state ban

tech groups on Monday backed TikTok in its lawsuit seeking to block enforcement of a Montana state ban on use of the short video sharing app before it takes effect on Jan. 1. NetChoice, a national trade association that includes major tech platforms, and Chamber of Progress, a tech-industry coalition, said in a joint court filing that «Montana's effort to cut Montanans off from the global network of TikTok users ignores and undermines the structure, design, and purpose of the internet.» TikTok, which is owned by Chinese tech giant ByteDance, filed a suit in May seeking to block the first-of-its-kind U.S.

04.08 / 20:29

UPS Chase Parke ByteDance TikTok social Influencer Ex-TikTok influencer Mahek Bukhari and her mother Ansreen Bukhari found guilty of murdering 2 men; Here’s what happened

TikTok influencer, Mahek Bukhari, and her mother, Ansreen Bukhari, were found guilty of murdering two men, Saqib Hussain and Mohammed Hashim Ijazuddin, who tragically died in a fireball when their car was deliberately rammed off the road during a late-night chase near Leicester. The verdict was delivered by jurors after over 28 hours of deliberations at the end of a three-month trial at Leicester crown court. Two other defendants, Rekan Karwan and Raees Jamal, were also found guilty of two counts of murder. Natasha Akhtar, Ameer Jamal, and Sanaf Gulammustafa were found guilty of two counts of manslaughter but not guilty of murder. Meanwhile, Mohammed Patel was acquitted of both murder and manslaughter charges.

04.08 / 18:37

UPS IPO ByteDance TikTok country electronic strain China Has Become a Strain on Private-Equity Firms

TikTok owner ByteDance, another highly valued private tech company that counts private-equity funds among its shareholders, shelved its IPO plans. In 2022, the average annual return for China private-equity funds, including venture capital funds, was minus 5.6%, according to estimates from data-analytics firm Burgiss. That was the lowest since the global financial crisis in 2008, although it was better than the global average last year.

03.08 / 17:21

Platform Mobile Tencent ByteDance social Time China proposes to limit children's smartphone time to a maximum of 2 hours a day

China’s internet watchdog has laid out regulations to curb the amount of time children spend on their smartphones, in the latest blow to firms such as Tencent and ByteDance, which run social media platforms and online games

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