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Sources: Microsoft working with Walmart on TikTok deal

Aug. 27, 2020 03:24PM EST
 Dan Ackermann

Microsoft is working on its efforts to buy TikTok's U.S. business from China's ByteDance, Axios has learned from multiple sources close to the process.

Behind the scenes: The idea would be to helpturn TikTok U.S. into more of an e-commerce app for creators and users, much like what current parent company ByteDance does with a similar app in China.

  • It's possible that Walmart also has had discussions with Oracle, which also continues to negotiate with ByteDance.
  • SoftBank Group is not involved in the Microsoft/Walmart effort, although the firm has made inquiries to ByteDance, per sources.

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Russian ransomware group's dark web sites mysteriously go down

Dark web sites tied to the Russian-based cyber gang REvil were not operating on Tuesday, just two weeks after the group launched a large-scale ransomware campaign that affected more than 1,500 companies around the world, according to CNBC.

Why it matters: It's unclear whether the sites — which REvil uses to facilitate its ransom negotiations — are down because of a technical problem, a law enforcement operation, or some other explanation. The group's public spokesperson has also been silent on message boards since last week, according to Politico.

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Warren Buffett hasn't made an "elephant" megadeal since before the pandemic

Warren Buffett doesn't have much use for unicorns, instead building his Berkshire Hathaway empire by hunting for the sort of asset-heavy megadeals that he calls "elephants."

Driving the news: Berkshire hasn't fired a shot from its elephant gun in quite some time. Not even last spring, when many thought it would become the bailout partner of first resort, much like the role it played in 2008.

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