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Startups Asia

Faraday Founder Files for Bankruptcy in U.S.

By Wayne Ma
· · Source: The Wall Street Journal

The Chinese billionaire who founded electric-vehicle startup Faraday Future has filed for Chapter 11 bankruptcy in the U.S., The Wall Street Journal reported, citing court filings.  Jia Yueting, who also founded Chinese internet TV streaming service LeEco, is seeking protection from creditors owed as much as $3.6 billion, the newspaper said, adding Jia will give up his stake in the holding...

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Exclusive Asia
Is Oracle Biting Off More TikTok Than it Can Chew?
By Alex Heath · Sept. 22, 2020 8:30 PM PDT

New details about a way Oracle envisions managing TikTok user data and rewriting the app, and how TikTok’s technology actually operates, underscore how hard it could be for Oracle to separate the app from its Chinese owner.

At the same time, Oracle has held preliminary discussions with the U.K. government about protecting TikTok’s user data in that country, similar to its plan in ...

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