US Business

The industrial engineer has turned Steve Jobs’s creation into a corporate colossus, delivering one of the most lucrative business successions in history.

The Trump administration is widening its attack against Chinese internet giants by targeting a social media app, WeChat, that is used daily by ordinary Chinese but by few Americans, further dividing the global internet.

Singapore police brought their first criminal charges against an individual linked to the suspected fraud at Wirecard AG, the one-time German technology star that collapsed at the end of June after admitting more than $2 billion of cash on its balance sheet was fake.

President Trump issued a pair of executive orders imposing new limits on Chinese social-media apps TikTok and WeChat, escalating tensions with Beijing and effectively setting a 45-day deadline for an American company to purchase TikTok’s U.S. operations.

Shares of Tencent Holdings plunged as much as 10%, hours after President Trump signed an executive order that would bar U.S. entities from transacting with the Chinese internet giant.

Chinese companies with shares traded on U.S. stock exchanges would be forced to give up their listings unless they comply with American auditing requirements, under a Trump administration proposal.

T-Mobile US said it vaulted ahead of rival AT&T Inc. in the race for wireless customers to become the country’s second-largest cellphone carrier.

Uber Technologies posted another big loss with little sign of recovery in its core ride-hailing business as the coronavirus pandemic drags on, though stay-at-home orders have fueled company’s food-delivery business.

Adidas said it expects revenue to recover as the sports-gear group’s stores continue to reopen and digital sales thrive after the coronavirus lockdowns pushed the company into a net loss in the second quarter.

Facebook and Twitter removed a video posted by President Trump in which he said children are “almost immune” from Covid-19, a claim that the companies said ran afoul their rules against harmful misinformation about coronavirus.