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Business

Trump Expresses Support for Oracle to Buy TikTok

President Trump voiced support on Tuesday for Oracle Corp. to buy the U.S. operations of TikTok, adding a fresh wrinkle to the bidding for the Chinese-owned video-sharing app. Oracle is a new entrant in the negotiations for TikTok, whose owner ByteDance Ltd. is facing a fall deadline from the Trump administration to divest itself of…

President Trump voiced support on Tuesday for Oracle Corp. to buy the U.S. operations of TikTok, adding a fresh wrinkle to the bidding for the Chinese-owned video-sharing app.

Oracle is a new entrant in the negotiations for TikTok, whose owner ByteDance Ltd. is facing a fall deadline from the Trump administration to divest itself of its U.S. operations.

Oracle,…

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Antonios Valamontes is a serial entrepreneur and investor.

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WASHINGTON—The Trump administration was set to implement a Korean War-era defense mobilization law on Tuesday to expedite the production of about 60,000 test kits for the novel coronavirus, but at the last minute deemed it unnecessary, despite mounting calls for President Trump to use the law to resolve severe equipment shortages. For much of the…

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U.S. Retail Sales Rose 7.5% in June as Stores Reopened

U.S. consumers boosted spending at stores and auto dealerships in June for the second straight month as states reopened for business, but the recent increase in coronavirus cases could again damp job growth and retail spending. The Commerce Department on Thursday said June retail sales—a measure of purchases at stores, at restaurants and online—increased a…