Oracle shifted $30bn from Bermuda-based subsidiary to Irish firm ahead of TikTok deal
US tech firm transferred money last year as it prepared to take over Chinese-owned social network TikTok
Oracle, the US tech firm, shifted tens of billions of dollars from a Bermuda-based subsidiary into its main Irish holding company in 2020 as it plotted to take over TikTok, the social network.
Last September, Oracle was selected as the bidder for the US operations of TikTok. ByteDance, the Chinese-based owner of TikTok, was pressured into a sale deal after the Trump administration said the company’s US business had to be sold. Last month, the Biden...
Subscribe from just €1 for the first month!
With any subscription you will have access to
Unlimited multi-device access to our iPad, iPhone and Android Apps
Unlimited access to our eReader library
Exclusive daily insight and opinion seven days a week
Create alerts to never miss a subject that matters to you
Get access to exclusive offers for subscribers on gifts and experiences
Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine
Companies have adopted shorter-term planning since pandemic, survey finds
Where previously businesses would have planned their investments five to ten years ahead, many are now only looking at the next three years, Accenture says
Irish Gold Bullion boss fails to block wind-up of company after death threat claims
Nicholas Wickham claimed he could not attend wind-up petition hearing due to threats and sought to delay the case so he could raise funds to pay debts
Ian Guider: G7 edict is a chance for Ireland to change course and develop some global champions of our own
The upcoming changes to global taxation of multinationals pose a huge challenge to this country – but also present us with an opportunity to reduce our reliance on foreign behemoths
Staycity expands in France and Germany in post pandemic push
The Irish aparthotel operator opened properties in Heidelberg and Bordeaux, and plans to add ten more locations this year and next