TikTok Strives to Settle Privacy Lawsuit as Oracle Deal Nears
Lawyers for TikTok are pushing to settle a lawsuit in Illinois alleging the video-sharing app improperly collects data from its users, many of them underage, as its Chinese parent company closes in on a deal with Oracle.
Oracle Deal With TikTok to Undergo U.S. Security Review
The Treasury Department said it would review an agreement for Oracle and others to revamp TikTok's U.S. operations with the aim of avoiding a ban of the popular video-sharing app because of its Chinese ownership.
Silver Lake-Led Group Invests $650 Million in Klarna
The investment from a group led by private-equity firm Silver Lake represents a bet on a financial-technology company that has benefited from the ramped-up shift to e-commerce, and brings Klarna's valuation above $10 billion.
Facebook Buys REI's New Headquarters as Pandemic Prompts Sale
Purchase of custom-made new headquarters near Seattle is the latest sign that big technology companies are driving commercial real estate markets during the coronavirus pandemic.
Covid-19 Test Maker Examines False-Positive Results in Nursing Homes
Becton Dickinson is looking into multiple reports of false-positive Covid-19 results from its Veritor test machines supplied to nursing homes at the behest of the federal government.
Lilly's Arthritis Drug Helped Covid-19 Patients Recover Faster
Eli Lilly is seeking emergency-use authorization for the arthritis drug Olumiant after a study found it accelerated the recovery of hospitalized Covid-19 patients who were also treated with Gilead's remdesivir.
Fiat Chrysler to Cut Dividend Ahead of Merger With PSA Group
Fiat Chrysler Automobiles and PSA Group changed the terms of their merger to preserve cash as the two car makers shore up their financial positions following the negative effects of the coronavirus pandemic.
Revlon Faces Debt Crunch After Bond Exchange Fails
The cosmetics company has failed to complete a distressed-bond exchange that would have extended a debt maturity and given it more time to get a handle on hundreds of millions in debt due in the coming months.
Berkshire Hathaway's BNSF Railway Names Kathryn Farmer as CEO
Mrs. Farmer is set to become the first woman CEO of a major railway operator in North America after being named as Carl Ice's successor.
Regulators to Reprimand Citigroup for Failing to Improve Risk Systems
The expected rebuke from the Office of the Comptroller of the Currency and the Federal Reserve accelerated planning for Chief Executive Michael Corbat's retirement.
