Bloomberg Business

TikTok’s E-Commerce Ambitions Stall as Global Backlash Grows

Teten Masduki couldn’t stop talking about TikTok. In a July meeting with his team, the Indonesian minister broke from the official agenda every five to 10 minutes to complain about how the Chinese-owned social media platform was squeezing local players.

Volkswagen Fixes IT Outage Affecting Global Production

Volkswagen AG has fixed an IT outage that ground production at VW brand plants to a halt Wednesday, with the carmaker’s global network of plants currently in the process of resuming operations.

Bank of China Sees Yuan Emerging as Global Financing Currency

Global issuers are increasingly keen to sell yuan bonds to take advantage of the low rates, setting up the currency to be a potential financing vehicle, according to the top underwriter of such notes outside of China.

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