Category نیویورک پست اقتصاد

Trump won’t approve TikTok deal if ByteDance keeps control

President Trump said he will not approve a deal to keep TikTok running in the US if its Chinese parent company remains in control of the popular video-sharing app.

Trump on Monday said he wanted Walmart and Oracle to have “total control” of TikTok in the US after Bejing-based ByteDance claimed it would still own the app under its proposed partnership with the two American companies.

“They [ByteDance] will have nothing to do with it and if they do we just won’t make the deal,” Trump said in a Monday interview with Fox News.

Trump on Saturday said he had given his “blessing” to a deal that would see software firm Oracle and retail giant Walmart take a 20 percent stake in TikTok Global, a new US-based company set up to run the app in the states.

The two companies said American...

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ByteDance says it will keep control of TikTok under deal with Oracle

Chinese tech giant ByteDance said Monday that it would retain control of TikTok under its deal to keep the popular video-sharing app alive in the US.

The Beijing-based firm made the claim in a statement addressing “rumors” that TikTok would become an American-owned company — as ByteDance’s US partners, Oracle and Walmart, said when they announced the deal Saturday.

ByteDance said TikTok Global, a new US-based company set up to run the app in the states, was its “100 [percent] owned subsidiary.” Its ownership will drop to 80 percent after a “small round” of financing before the new company goes public, according to the statement posted on WeChat, a Chinese social media platform.

Walmart and Oracle, however, have said TikTok Global would be “majority owned by American inves...

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NBCU ends Roku dispute over Peacock app after threatening to pull channels

NBCUniversal has reached a deal with Roku over its refusal to carry the media giant’s new Peacock video app on its platform.

“We are pleased Roku recognizes the value in making NBCUniversal’s incredible family of apps and programming, including Peacock, available to all of their users across the country,” an NBCUniveral spokesperson said. “Roku’s incredible reach will not only help us ensure Peacock is available to our fans wherever they consume video but continue to expand NBCUniversal’s unrivaled digital presence across platforms.”

The deal comes a day after NBCU threatened to pull more than 11 of its channels from Roku by Saturday morning, if it did not carry its new service.

Up until Friday, NBC’s Peacock — which includes programming from its NBC network and NBC News,...

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Playboy is eyeing a return to the stock market, sources say

Months after killing its iconic nudie magazine, Playboy Enterprises is eyeing a return to the stock market, The Post has learned.

The company founded by Hugh Hefner 66 years ago has been talking to so-called blank-check companies about an investment to fund its push into sexual wellness products, spirits and cannabis, sources told The Post.

The talks, which Reuters first reported on Friday, could pave the way for Playboy return to sell stock to the public again — nine years after it went private in a $207 million deal led by Hefner and private equity firm Rizvi Traverse Management. Blank-check companies, also known as special acquisition vehicles or SPACs, go public to raise money to buy companies that then take over that ticker symbol, subverting the traditional IPO process.

Among the...

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NBCUniversal quietly looking to replace TV exec amid toxic workplace probe

NBCUniversal is quietly looking to replace top reality-TV exec who was accused of cultivating a toxic workplace in a bombshell report in late July, The Post has learned.

The takedown penned by The Hollywood Reporter called out NBC Entertainment chairman Paul Telegdy and his right hand, Meredith Ahr, for bullying employees and talent.

Telegdy, who was the focus of the July 31 report, was ousted days later, and the company has since launched a probe into the workplace culture. Ahr remains at the company and is “fulfilling her role as normal,” an insider said. 

Since Telegdy’s exit, NBCU promoted longtime exec Frances Berwick to lead the entertainment business amid a broader reorganization at NBCU, which has been financially crushed by the coronavirus pandemic...

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Sen. Blumenthal demands AT&T drop push for ad-subsidized cell plans

US Senator Richard Blumenthal on Friday called on AT&T to stop pursuing plans to offer cellphone plans partially subsidized by advertising that he said would undermine consumer privacy.

“Consumers expect that their phone and broadband providers are not spying on their phone calls and web browsing or using their private data for commercial gain,” Blumenthal, a Democrat, wrote in a letter to AT&T Chief Executive John Stankey.

The request follows a Reuters interview with Stankey this week in which he discussed a plan to discount cellphone bills as early as a year from now.

“I believe there’s a segment of our customer base where given a choice, they would take some load of advertising for a $5 or $10 reduction in their mobile bill,” Stankey said in the interview.

While Stankey said...

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Justice Department indicts 6 with conspiracy to pay bribes to Amazon employees

Six alleged fraudsters have been indicted by a grand jury in Washington state over a scheme to bribe Amazon employees in hopes of a competitive business edge, the Justice Department announced Friday.

The defendants planned to pay over $100,000 in exchange for an unfair advantage on the Amazon marketplace, where third-party merchants sell goods, officials said.

Since 2017, the individuals allegedly resorted to bribery and fraud to reinstate products and accounts that Amazon had suspended or blocked from its marketplace.

The accused allegedly paid at least ten Amazon employees and contractors to attack competitors and boost their products — raking in more than $100 million of competitive benefits, according to prosecutors

“The ultimate victim from this criminal conduct is the buying publ...

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Retailers anxious about socially distant Black Friday rush

Summer is barely over and US retailers are already fretting over the upcoming holiday shopping season amid fears that not even the coronavirus can keep Americans away from their favorite post-Thanksgiving pastime.

The industry is bracing for a 30 percent jump in brick-and-mortar traffic between Thanksgiving and Christmas. And while that would normally be a good thing, stores this year aren’t equipped to handle too many shoppers at once due to social-distancing requirements.

“We are hearing a lot of worry about the holidays,” said Gabriella Santaniello, president of A Line Partners, a retail research firm.

“How are we going to manage a rush of people” is the primary concern, she said.

Pandora, a popular shopping destination for charms and trinkets, is among the retailers concern...

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Fine dining restaurant Caviar Russe is expanding

Michelin-starred restaurant Caviar Russe is doubling down on its commitment to luxury cuisine — and to limping Madison Avenue.

Its second-floor dining room at 538 Madison, near East 55th Street, will soon be joined by a ground-floor caviar bar and retail shop. The 2,000-square-foot venue, previously home to a ski boutique, will open in October or November depending on construction, said managing director Ilya Panchernikov. The exterior will sport a new look and be rebranded as the Caviar Russe Building.

He made the deal directly with long-time landlord Metropole Realty Advisors. Terms were not available.
“We did take the space pre-COVID,” Panchernikov conceded before expressing confidence in the city’s future and the loyalty of his long-time clientele.

“New York is a little sleepy...

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Fine dining restaurant Caviar Russe undergoing makeover

Michelin-starred restaurant Caviar Russe is doubling down on its commitment to luxury cuisine — and to limping Madison Avenue.

Its second-floor dining room at 538 Madison, near East 55th Street, will soon be joined by a ground-floor caviar bar and retail shop. The 2,000-square-foot venue, previously home to a ski boutique, will open in October or November depending on construction, said managing director Ilya Panchernikov. The exterior will sport a new look and be rebranded as the Caviar Russe Building.

He made the deal directly with long-time landlord Metropole Realty Advisors. Terms were not available.
“We did take the space pre-COVID,” Panchernikov conceded before expressing confidence in the city’s future and the loyalty of his long-time clientele.

“New York is a little sleepy...

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