August 27, 2020, 12:05 PM

Top News

Financial Times:
TikTok CEO Kevin Mayer resigns, sources say after Trump threatened to ban the app; Vanessa Pappas, currently general manager of TikTok, will become interim head  —  Former Disney executive resigns just months after appointment by Chinese video platform  —  Kevin Mayer has quit TikTok …
Alex Sherman / CNBC:
Sources: TikTok likely to announce a sale of US, Canada, Australia, and NZ operations in a deal worth $20B to $30B as soon as next week  —  - TikTok is nearing an agreement to sell its U.S., Canadian, Australian and New Zealand operations in a deal that could be announced as soon as next week, sources say.
Dan Primack / Axios:
Walmart says it is working with Microsoft on the TikTok deal, sources say with the idea of turning TikTok US into an e-commerce app for creators and users  —  Microsoft is working with Walmart on its efforts to buy TikTok's U.S. business from China's ByteDance, Axios has learned from multiple sources close to the process.
Shakeel Hashim / Protocol:
Report: Oracle has taken the lead position to acquire TikTok and is offering $10B in cash, $10B in stock, and 50% of TikTok's annual profit to ByteDance  —  The Wrap reports that Oracle is offering $10 billion in cash, $10 billion in Oracle stock, and an agreement that 50% of TikTok's profit will go to ByteDance.
Russell Brandom / The Verge:
Facebook users reported Kenosha Guard's Page and event to Facebook before the shootings but were told it did not violate its policies; the Pages are now gone  —  Multiple users reported the account for inciting violence, but were told it did not violate platform policy
Dieter Bohn / The Verge:
Amazon announces Halo, a $99.99 fitness band with an app to track emotional tone and create 3D scans for body fat, with a $3.99/month subscription service  —  It makes a 3D model of your body and tracks the emotional tone in your voice  —  Amazon is getting into the health gadget market …
Rafat Ali / Skift:
A few lessons for the events industry from digital turning points in music, video, and news industries, as Zoom transforms events like Napster changed music  —  All types of business events are in danger of their revenue streams of tickets, sponsorships, memberships, and other types of fees being eroded.
Jay Peters / The Verge:
Epic says Fortnite gamers on iOS and macOS will not be able to play the game's next season, arriving Thursday, and will lose cross-play with non-Apple platforms  —  Apple players are losing cross-play  —  Fortnite's next season arrives tomorrow, but if you're on iOS or macOS, you won't be able to play it, Epic announced today.
Sara Fischer / Axios:
Facebook warns publishers that Apple's upcoming privacy changes in iOS 14, which clamp down on ad tracking IDFA usage, will make Audience Network less effective  —  Facebook is warning advertisers that they can expect weaker ad performance from iPhone users once iOS 14 comes out next month …
Counterpoint: Apple's AirPods are expected to sell 82M pairs this year, but their worldwide market share of true wireless earphones will drop from ~50% to 35%  —  - AirPods maker is projected to sell 82 million pairs this year  — Wider market growing even faster, driven by cheaper models
Ari Levy / CNBC:
Salesforce to cut ~1,000 jobs, 1.8% of its workforce, including some Tableau employees, and will give those affected 60 days to find a new role in the company  —  - The cuts amount to about 2% of Salesforce's workforce, but employees affected will have 60 days to find a new position at the company.
Daniel Cooper / Engadget:
Fairphone debuts modular €469 Fairphone 3+ with 40% recycled plastics, launching on September 14; Fairphone 3 users can upgrade camera module for €70  —  Fairphone is a Dutch social enterprise that's trying to improve supply chain and labor conditions in the tech industry.
Don Clark / New York Times:
Sources say problems at Intel are likely to delay the DoE's exascale supercomputer project, which was scheduled to be installed near Chicago in 2021  —  The chip maker was selected for an Energy Department project meant to show American tech independence.  But problems at Intel have thrown a wrench into the effort.
Tweets: @donal888
David McLaughlin / Bloomberg:
Rep. David Cicilline says recommendations from House antitrust inquiry could come as soon as Sept. and a Glass-Steagall-like law for tech might be an option  —  - Cicilline poised to deliver proposals as soon as September  — Inquiry confirmed digital giants abuse power, chairman says

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Earlier Picks

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Tracy Withers / Bloomberg: