Story of the Week TikTok forms U.S. joint venture, names a CEO TikTok said Thursday that it formed a joint venture that will keep the video-sharing app operating in the United States. The short-form video company said that Adam Presser will be the CEO of TikTok USDS Joint Venture, while TikTok CEO Shou Chew will […]

Story of the Week Saks Global files for bankruptcy, shakes up leadership after a year of struggles On January 14th, Saks Global filed for Chapter 11 in the U.S. Bankruptcy Court for the Southern District of Texas. The move comes after a year of financial struggles following a $2.7 billion deal to merge Saks Fifth […]

Story of the Week Report: Anta makes offer to buy stake in Puma Anta Sports Products has “offered to buy 29%” of Puma from the Pinault family, according to sources cited by Wu & Crowley of Reuters. Anta “made the offer a few weeks ago” and sources noted the company has “secured financing for the […]

Story of the Week U.S. economy grows by 4.3% in third quarter, much more than expected, delayed report shows The U.S. economy grew at a much faster-than-expected pace in the third quarter, boosted by strong consumer spending, according to a delayed report released on Dec 23. U.S. gross domestic product, a sum of all goods […]

Story of the Week The art market’s $13.2 billion comeback A $31.4 million bar cart shaped like a hippopotamus. A $30.2 million Fabergé egg. A $12 million solid-gold Maurizio Cattelan toilet. And that $236.4 million Gustav Klimt portrait. After a two-year slump, art sales surged across nearly every category at the world’s chief auction houses […]