SoftBank Group reported a net profit of more than $21 billion for the three months through September, as the Japanese company sold some of its shares in China’s Alibaba to offset hefty losses from its Vision Fund investment business. SoftBank said the gains from its Alibaba share sale amounted to 5.37 trillion yen ($38 billion). Those gains more than cancelled out Vision Fund’s investment...
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Data Show TikTok Shop Relies on Indonesia, Where Business Is Threatened
TikTok just cannot escape government scrutiny. Even as the hugely popular ByteDance-owned app expands in the U.S. despite a persistent threat of a ban, the Indonesian government has decided on a new regulation to ban online shopping on social media. That would hobble TikTok’s fast-growing shopping service in Indonesia, which is the single biggest market for TikTok Shop, as the service is...
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