Daily Archive: August 3, 2020

ByteDance says preliminary talks with a tech firm over TikTok have started: staff letter By Reuters

© Reuters. People walk past the Bytedance headquarters building in Beijing

BEIJING/SHANGHAI (Reuters) – TikTok owner ByteDance said on Monday that the company had initiated preliminary talks with a tech company to help it continue offering the short video app in the United States, a source said citing an internal company letter.

President Donald Trump only agreed to allow Microsoft Corp (O:) to negotiate the acquisition of popular short-video app TikTok if it could secure a deal in 45 days, three people familiar with the matter said on Sunday.

The move represents an about-face for Trump and prompted the U.S. tech giant to declare its interest in the blockbuster social media deal that could further inflame U.S.-China relations.

ByteDance did not immediately respond to requests for comment on the letter.

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Not wasting a crisis: How Ireland’s Ryanair is using the pandemic to power an audacious growth plan

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Reeling from COVID-19, Europe’s airlines are unveiling a survival strategy centered on shrinking their schedules in the years to come. They are canceling aircraft orders, shrinking schedules, and are beginning to exit airport gates from London to Rome in an industry-wide rush to downsize.

But Ryanair, the region’s ultra-low-fare rebel, views the crisis as a matchless opening for the strongest player. The Irish carrier is using the crisis to snatch business from the weak (its assessment of a broad swath of the competition). Ryanair plans to prosper from its rivals’ retrenchment by pushing the throttle to the max––bolstering its fleet with new 737 MAXSs, grabbing those idle takeoff and landing slots, and most of all, driving the industry’s lowest costs down a big notch.

That’s that flight … Read More