As TikTok embarks on its new chapter under American ownership, the financial terms of that transition have placed a $10 billion payment to the US government at the center of the story. Investors Oracle, UAE's MGX, and Silver Lake completed the acquisition of TikTok's US operations from ByteDance in January, making an initial Treasury payment of $2.5 billion. Further installments are scheduled until the...
The Strait of Hormuz remained closed on Saturday as Iran showed no signs of reopening the vital waterway despite intense US and Israeli military pressure now stretching into a third week. The closure of the strait — through which roughly one-fifth of the world's oil and gas normally passes — had driven energy prices toward $120 per barrel and threatened to push them higher...
