The Biden administration has asked two federal appeals courts to dismiss the Justice Department's legal challenges to court rulings that barred a Trump-era effort to ban new downloads of video-sharing app TikTok.
President Joe Biden on Wednesday withdrew a series of Trump-era executive orders that sought to ban new downloads of WeChat and TikTok, and ordered a Commerce Department review of security concerns posed by those apps.
The last year has been a bruising one for many and Burberry’s results for FY21 have illustrated that perfectly, But they also show how it has learned to navigate the pandemic and is bouncing back strongly.
China is preparing a substantial fine for Tencent as part of its sweeping antitrust clampdown on internet giants, but it is likely to be less than the $2.75 billion penalty imposed on Alibaba earlier this month.
Pony Ma, the founder of Tencent Holdings, China's biggest social media and video games company, met with China's antitrust watchdog officials this month to discuss compliance at his group, two people told Reuters.
Hugo Boss on Thursday reported an operating profit for Q4 and said it expects a “gradual business recovery” this year. But the company said the negative implications of the pandemic had a “significant impact” last year.