Business

China's ByteDance Ltd is seeking a valuation of $60 billion for TikTok as Oracle Corp and Walmart Inc take stakes in the short-video app's business to address U.S. security concerns, Bloomberg News reported on Sunday, citing an unnamed person familiar with the matter.

A U.S. judge early Sunday blocked the Trump administration from requiring Apple Inc and Alphabet Inc's Google to remove Chinese-owned messaging app WeChat for downloads by late Sunday.

Oil prices edged higher on Monday as a tropical storm took aim for the U.S. Gulf of Mexico region halting some production, though price gains were capped by the potential return of oil output in Libya and a continued rise in coronavirus cases.

Global oil refiners reeling from months of lackluster demand and an abundance of inventories are cutting fuel production into the autumn because the recovery in demand from the impact of coronavirus has stalled, according to executives, refinery workers and industry analysts.

Some of the world's biggest companies on Monday backed growing calls for governments to do more to reverse the accelerating destruction of the natural world and support broader efforts to fight climate change.

China, the world's biggest automobile market, rolled out fresh policies to support hydrogen fuel cell vehicles to improve the industry's supply chain and technologies, the finance ministry said on Monday.