Oracle holds preliminary talks with ByteDance; enters race to buy TikTok : Bulletin: Business Today
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Oracle holds preliminary talks with ByteDance; enters race to buy TikTok

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BusinessToday.In | August 18, 2020

India's power generation surges for first time in 5 months in early August
India's electricity generation in the first 15 days of August rose for the first time since early March, provisional government data showed, as the country opened up industries and lifted restrictions to control the spread of coronavirus. Power generation rose 2.6% in the first 15 days of August compared with the same period of last year, data from federal grid operator POSOCO showed, compared with a 1.8% fall in July.
Hiring picks up; job seekers look beyond their industry in post-COVID era
The latest 'Labour Market Update' by LinkedIn on the hiring trends based on its economic graph shows that between April and June, hiring in the country increased by 35 per cent. While the overall hiring activity is still down 15 per cent year-on-year as of end-June, the slow recovery is coming on the back of bottom hit in April when the hiring  declined by 50 per cent  year-on-year.  
Biocon CMD Kiran Mazumdar Shaw tests positive for coronavirus
Kiran Mazumdar Shaw, chairperson and managing director of Biocon, announced in a tweet that she has tested positive for COVID-19. Taking to the social media platform, the billionaire entrepreneur said that she has developed mild symptoms.
Oracle holds preliminary talks with ByteDance; enters race to buy TikTok
Oracle Corp has held preliminary talks with TikTok's Chinese owner, ByteDance, and was seriously considering buying the app's operations in the United States, Canada, Australia and New Zealand, the Financial Times newspaper reported. Twitter Inc had approached ByteDance to express interest in acquiring the U.S. operations of TikTok, while Microsoft Corp was still the favorite to clinch a deal in the race.
India travel demand high, says Lufthansa as air bubble flights to Germany resume
The Lufthansa Group on Monday expressed confidence that air travel demand to and from India remains high despite the COVID-19 lockdown disruption, as it welcomed the bilateral air bubble agreement which allowed Germany's largest airline to resume flights from India last week.
Tea production to hit multi-year low in 2020 due to lockdown, floods
Tea production in India is expected to fall to multi-year low in the current year. Production is likely to fall by 37 per cent to 878 thousand tonnes on account of the coronavirus-induced nationwide lockdown and the torrential rains in the northern part of the country, highlights a Centre for Monitoring report.
Citigroup makes 'million dollar payment error' from cosmetics giant Revlon's account
Citigroup is trying to recover almost $900 million (or roughly Rs 6,800 crore)  it mistakenly paid to cosmetic firm Revlon's lenders. Citigroup reportedly called it a "clerical error". The payment error took place after UMB Financial sued Revlon on behalf of certain dissenting lenders, including Brigade Capital Management and HPS investment partners, over its restructuring tactics.

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