TikTok's Chinese owner, ByteDance, signed binding agreements with three major investors to sell just over 80% of the company's U.S. assets to American and global investors to avoid a U.S. government ban, TikTok CEO Shou Zi Chew told employees.
Nike is running out of time to prove its China playbook works. The U.S. sportswear giant’s sixth straight quarterly sales decline in the country - including a 20% drop in footwear - underscores how a market once seen as a growth engine has become its biggest pressure point.
Lured by the promise of richer margins, a wave of Chinese consumer brands is making deeper inroads into American retail to offset sluggish spending at home.