TikTok Parent ByteDance in Talks to Raise $2 Billion Before Possible Hong Kong Listing: Report

first_imgIt could result in Beijing-based ByteDance eventually listing some of its biggest assets, such as Douyin, the Chinese version of TikTok, in Hong Kong.ByteDance is currently fighting to avoid US attempts to ban TikTok over national security concerns.Listing ByteDance assets could provide a major boost for Hong Kong’s market, which has been weighed down by the US-China trade war, the coronavirus pandemic and last year’s roiling pro-democracy protests.- Advertisement – Beijing is pushing its tech giants to list on Chinese exchanges.Hong Kong and Shanghai were set this week for the dual listing of Ant, the Alibaba-linked digital payments and finance provider, which would have been a world-record IPO.But it was pulled at the last minute amid an escalating dispute between Ant, whose controlling shareholder is billionaire Alibaba co-founder Jack Ma, and Chinese regulators. – Advertisement – Citing fears of systemic financial risks, Beijing has imposed new restrictions on fast-growing online lending and credit products, like those offered by Ant, in the run-up to the share issue.This was seen as potentially changing the business landscape for Ant, forcing the IPO to be shelved for now.The Trump administration has insisted on the need to ban TikTok, saying it has links to the Chinese government through ByteDance and that user data could be obtained by Beijing. The popular short-video platform has 100 million users in the US.TikTok has repeatedly denied the claim. ByteDance has avoided a ban in the country by setting up TikTok Global, which will run the short-video app’s US operations and be part-owned by Walmart and Oracle.Are iPhone 12 mini, HomePod mini the Perfect Apple Devices for India? We discussed this on Orbital, our weekly technology podcast, which you can subscribe to via Apple Podcasts, Google Podcasts, or RSS, download the episode, or just hit the play button below. ByteDance, the Chinese parent of viral video platform TikTok, is in talks to raise $2 billion (roughly Rs. 14,800 crores) from investors before a possible listing of some of its businesses in Hong Kong, according to a report.The plan could eventually value ByteDance at a massive $180 billion (roughly Rs. 13,31,300 crores), Bloomberg News reported late Thursday, citing people familiar with the talks.- Advertisement – – Advertisement –last_img read more

Women of Troy sweep weekend while Men oust Arizona State

first_imgChants, shouting and the sound of a 20-year-old record breaking could be heard coming from McDonald’s Swim Stadium last weekend as the men and women’s swim and dive teams hosted the Arizona Wildcats and Arizona State Sun Devils in two dual meets.The No. 6 Women of Troy defeated the No. 7 Wildcats on Friday, 190-110, and continued to dominate by defeating Arizona State on Saturday as well, 172-121. Meanwhile, No. 5 Arizona defeated the men’s team on Friday, 190-110, but the No. 14 Trojans came back and conquered Arizona State the next day, 186-107.One of USC’s most memorable moments this weekend came in the form of freshman Vladimir Morozov. The newcomer broke a USC record on Saturday with his 100-yard freestyle time of 42.93 seconds. Erik Ran previously set the record in 1990 with a time of 42.98.“I felt great. I didn’t even think of breaking [the record],” Morozov said. “I thought I was going about half a second slower, but it was great.”Morozov’s record, which was set in the men’s 400-yard freestyle relay on Saturday, was not the only thing that made USC coach Dave Salo proud this weekend.“I think we demonstrated clearly that we have a really strong program and hopefully in March we’ll be able to make it to the top five [at the Pac-10 championships],” Salo said. “We’ve really come a long way in the last three years. We’re now a team that’s probably more respected and I think people expect more out of us.”With the Women of Troy’s sweep this weekend, and the Trojans’ victory against Arizona State, the dual meets proved to be successful ones for USC. There were several factors going against the Trojans, but they didn’t rattle USC swimmers.“We did great and we fought on to the end,” Morozov said. “We got beat by Arizona but they were rested and they were wearing their suits, so that made a lot of difference … [On Friday] in the morning we had a full workout before our meet, so when we are rested and put into fast suits we will do better at everything. “Another foreseen challenge was the fact that the Friday’s dual meet against Arizona took place in the evening, a rare occurrence for the swimmers. The USC teams found the conditions to be advantageous, however, and the Women of Troy even managed to come out with a victory.“I think that we can swim faster later in the day,” junior Katinka Hosszu said. “It’s easier to get really pumped up at night with the lights on and everything.”After this weekend, USC’s swimmers have a while to wait before their next competition. They will compete again at the U.S. National Championships in December, with the NCAA and Pac-10 championships on the horizon after that. With their last meets done for a while, both teams are ready to see what happens next.“I am really excited because we are already swimming at almost our best times now and we are not even rested,” Hosszu said. “I am curious to see how we do when we are rested and have our suits on.”last_img read more

Kevin Hart dubbed Forbes highest paid comedian

first_imgKevin Hart is taking the spotlight as Forbes’ highest paid comedian.Hart made $59 million last year following a stadium tour, a Netflix special and sponsorships from brands including Mountain Dew.This is his second time on the coveted list as the richest stand-up comedian.Back in 2016, Hart dethroned fellow comedian Jerry Seinfeld who had dominated the Forbes list since 2006.Copyright 2019 Sunbeam Television Corp. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.last_img read more