US Business

With the fate of the video-sharing app being debated at the highest levels in Washington, Beijing and Silicon Valley, interim head Vanessa Pappas is looking to keep things running amid the high-stakes geopolitical drama.

Citigroup’s appointment of Jane Fraser as its next chief executive reflects efforts to elevate women across banking, though many say work remains to transform the industry.

Those who know the chief executive say he’s a thoughtful, kind person whose low-key style helped him get the job. He’s now contending with possible antitrust lawsuits, a recent revenue drop and pressure to take the company in new directions.

Rio Tinto said its chief executive would step down as it battles to contain the fallout from the destruction of two ancient rock shelters in northwestern Australia’s minerals-rich Pilbara region that were culturally significant to a local indigenous group.

EBay founder Pierre Omidyar stepped down from the company’s board as part of a broader overhaul that also has Elliott Management partner Jesse Cohn leaving the board.

The company’s quarterly sales rose 2% as the business software company navigates changing customer spending habits.

Google and Twitter said they are taking additional steps to tamp down misinformation about the U.S. election, as tech platforms scramble to address an expected flood of false claims and misleading posts.

LVMH expanded its rationale for pulling out of its biggest acquisition ever, saying the deal to buy Tiffany was no longer valid because the company had been mismanaged during the pandemic.

ByteDance, the video-sharing app’s Chinese parent company, is in talks with officials over possible arrangements that would avert a full sale of TikTok’s U.S. operations, according to people familiar with the matter.

The luxury-goods giant said it was backing out of its $16.2 billion takeover of Tiffany, in a sign of how trade tensions and the coronavirus pandemic have taken the air out of the highflying luxury industry.