TikTok’s European revenue soared 477% in 2021 as its userbase grew and the company improved its advertising offering. Revenue hit about $990.5 million for the year ending December 31, 2021, according to a filing with U.K.‘s Companies House, up from $171.6 million a year earlier. The Financial Times earlier reported on the revenue figures. The ByteDance-owned company said the increase was...
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The Electric: Western Auto and Battery Makers’ Big Gamble on Indonesian Nickel
For much of the last century, metals companies have made stainless steel from nickel mined in Russia or the Philippines and smelted at temperatures up to 2,900 degrees. But demand for nickel is outstripping supplies because the metal is a key component in most electric vehicle batteries. So metals producers have turned to a new supplier—Indonesia, which possesses vast reserves of a previously...
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