News Snapshot:
Go to Article WeChat and TikTok will likely feel the brunt of more regulation after U.S. President Donald Trump signed off on two executive orders banning transactions with the Chinese-backed apps. On Aug. 6, the president signed the two orders barring U.S. citizens and entities (government and businesses) from conducting commercial transactions with the parent companies of both apps, ByteDance and Tencent Holdings. The bans will take effect 45 days from Aug. 6 and has already sent the share price of WeChat’s parent company Tencent on a downward trend . Tencent is a major Shenzhen-based digital conglomerate with extensive ownership...
