All articles tagged with #us operations
Under President Trump, US military activity surged globally with strikes in Somalia, Iraq, Yemen, Iran, the Caribbean, Syria, Nigeria, and Venezuela, aiming to combat terrorism, Iran's nuclear program, drug cartels, and protect US interests, framing these actions as part of a strategy of 'peace through strength.'
TikTok's US operations are set to be spun out into a new US-based organization, TikTok USDS Joint Venture LLC, with investments from Oracle, Silver Lake, and MGX, and is expected to be finalized by January 22, 2026, after years of controversy and delays.
ByteDance will retain ownership of TikTok's U.S. operations but will transfer control of user data, content, and algorithms to a new joint venture, while ByteDance continues to oversee revenue-generating activities like e-commerce and advertising, amid ongoing negotiations and regulatory scrutiny.
The White House confirmed that TikTok's US operations will be transferred to a US-based joint venture, with Oracle overseeing the app's algorithm to address national security concerns, as part of a deal involving American investors and ByteDance retaining a minority stake.
Foxconn announced it will sell its Lordstown manufacturing facility for $88 million but will continue to occupy and operate the plant, aiming to enhance operational flexibility and future growth, with plans to reinvest proceeds into its U.S. business segments.
Kaspersky is closing its U.S. operations after the Commerce Department banned its software, citing national security risks due to the company's Russian connections. The decision impacts fewer than 50 employees and follows a thorough investigation by the U.S. government. Kaspersky denies being a security threat and argues the ban is based on geopolitical concerns rather than verified risks.
The Body Shop is closing its U.S. stores and filing for Chapter 7 bankruptcy, with plans to liquidate assets to pay off creditors. The U.K.-based beauty chain had also filed for restructuring in the U.K. and Canada, with some stores in those countries remaining open. The company, which was acquired by L'Oréal in 2006 and then a private equity group in December, faced financial challenges and a difficult retail environment before collapsing in February.
BMW has begun construction on a new high-voltage EV battery facility in Woodruff, South Carolina, as part of its plan to enable US EV production and establish South Carolina as a hub for battery and vehicle manufacturing. The facility, which will cover over one million square feet and operate on 100% green electricity, will create over 300 new jobs. BMW aims to produce its sixth-generation batteries for its all-electric X models at the Spartanburg plant, about 20 miles away. The company plans to produce at least six fully-electric models in Spartanburg by 2030.
Fanatics has agreed to acquire the US operations of PointsBet for about $150 million in cash, marking the sports giant's first major leap into US sports betting. Fanatics will gain access to at least 15 states with the deal and expects to have access to the majority of states where PointsBet operates by the start of the NFL season. PointsBet is expected to hold a shareholder vote on the deal in late June.