China

Microsoft CEO sees TikTok as ‘prize’ as race tightens with Oracle

Sources familiar with TikTok’s Chinese parent ByteDance tell FOX Business that while “Microsoft stepped in as a standalone, now it’s not. There’s an honest competition now. [TikTok] bolsters Microsoft’s cloud business but the same could be said for Oracle."

US-China trade talks boost global stocks

Global stocks rose Tuesday as investors cheered trade talks among senior U.S. and Chinese officials following weeks of escalating tensions between the world’s two largest economies.

Apple partner Foxconn mulls new factories for Mexico, not China

Reuters reporting exclusively that Taiwan-based electronics manufacturers Foxconn and Pegatron are among companies eyeing new factories in Mexico, people with direct knowledge of the matter said, as the U.S.-China trade war and coronavirus pandemic prompt firms to reexamine global supply chains.

US WeChat users sue Trump over order banning messaging app

Trump on Aug. 6 ordered sweeping but vague bans on transactions with the Chinese owners of WeChat and another popular consumer app, TikTok, saying they are a threat to U.S. national security, foreign policy and the economy.