Financial Developments - The EU has committed €90 billion to Ukraine, but there is no agreement on utilizing frozen Russian assets for the loan [2] - Oracle's stock has seen a significant decline, losing nearly half its market value since the end of September, but analysts suggest a potential recovery for long-term investors [6] Company-Specific News - TikTok has signed an agreement to divest its U.S. entity to a joint venture controlled by American investors, valued at approximately $14 billion, expected to close in January [4] - The new venture will have a majority-American board and will store U.S. user data locally, with Oracle acting as the "trusted security partner" [5] - Oracle will also be responsible for retraining TikTok's content recommendation algorithm to prevent outside manipulation [5] Market Trends - Marijuana stocks experienced a sell-off following President Trump's rescheduling order [3] - FedEx reported positive earnings, while Nike is facing challenges [9] - The Bank of Japan has raised its benchmark rate to the highest level in 30 years [7]
Oracle Wins Big In New TikTok Deal