Seeking Alpha’s roundup of statements, announcements, and remarks that could impact markets, sectors, or individual stocks.
- China’s ByteDance (BDNCE) will likely get half of the profits generated by TikTok’s U.S. operations after it sells a majority stake to American investors, according to Bloomberg, citing people close to the deal.
Under the divestment deal, ByteDance will receive a licensing fee entitling it to all revenue generated by making its algorithm available to TikTok’s U.S. operations. ByteDance will also receive a share of the unit’s profits in proportion to its equity stake, Bloomberg added.
Oracle (ORCL) is expected to hold a significant stake in TikTok’s U.S. operations, along with Silver Lake, Abu Dhabi-based MGX, and several other American investors.
- Accenture (NYSE:ACN) plans to lay off employees who aren’t considered good candidates for AI reskilling.
“Our No. 1 strategy is upskilling, given the skills we need, and we’ve had a lot of experience in upskilling, we’re trying to, in a very compressed timeline, where we don’t have a viable path for skilling, sort of exiting people so we can get more of the skills in we need,” Accenture CEO Julie Sweet said in a call on Thursday, according to CNBC.
Sweet said the company has increased the number of AI and data professionals it employs to 77,000 from 40,000 in 2023. The company has also reskilled about 550,000 workers in the fundamentals of generative AI.
- President Trump said his administration plans to slap a 100% tariff on certain pharmaceuticals produced by companies that haven’t constructed or begun construction on a U.S. manufacturing facility.
“Starting October 1st, 2025, we will be imposing a 100% Tariff on any branded or patented Pharmaceutical Product, unless a Company IS BUILDING their Pharmaceutical Manufacturing Plant in America. ‘IS BUILDING’ will be defined as, ‘breaking ground’ and/or ‘under construction.’ There will, therefore, be no Tariff on these Pharmaceutical Products if construction has started,” Trump said in a post on Truth Social on Tuesday evening.