TikTok's owner ByteDance has signed a deal creating a U.S.-focused joint venture majority-owned by American and global investors, allowing the app to avoid a U.S. ban while ByteDance retains a minority stake. The BBC reports: Half of the joint venture will be owned by a group of investors including Oracle, Silver Lake and the Emirati investment firm MGX, according to a memo sent by chief executive Shou Zi Chew. The deal, which is set to close on January 22, would end years of efforts by Washington to force ByteDance to sell its US operations over national security concerns. It is in-line with a deal unveiled in September, when US President Donald Trump delayed the enforcement of a law that would ban the app unless it was sold. TikTok said in the memo that the deal would enable "over 170 million Americans to continue discovering a world of endless possibilities as part of a vital global community." Under the agreement, ByteDance will retain 19.9% of the business, while Oracle, Silver Lake and Abu Dhabi-based MGX will hold 15% each. Another 30.1% will be held by affiliates of existing ByteDance investors, according to the memo.

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alternative_right writes: Grocery delivery service Instacart will refund $60 million to settle FTC claims that it misled customers with false advertising and unlawfully enrolled them in paid subscriptions. Instacart partners with over 1,800 retailers to provide online shopping, delivery, and pickup services from nearly 100,000 stores across North America. Its platform serves millions of customers and is also used by roughly 600,000 independent shoppers across thousands of cities in Canada and the United States. In a complaint filed on Thursday, the FTC claimed Instacart engaged in multiple deceptive tactics that raised costs for customers, including failing to provide advertised refunds and falsely advertising "free delivery" while still charging mandatory service fees that added up to 15% to order costs. The FTC said Instacart also advertised a "100% satisfaction guarantee," but typically offered only small credits toward future orders rather than full refunds to customers experiencing problems with deliveries or service. The company allegedly hid refund options from "self-service" menus, leading customers to believe credits were their only option.

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iRobot, the Bedford, Massachusetts-based company that brought the Roomba vacuum cleaner into American homes over its 35-year history, filed for bankruptcy on Sunday and will be acquired by Picea, its Chinese contract manufacturer that also produces competing household devices. The Wall Street Journal's editorial board placed blame for the company's demise on the Federal Trade Commission under Chair Lina Khan, which opposed Amazon's $1.7 billion bid to acquire iRobot. That deal collapsed in January 2024 amid regulatory pressure from both the FTC and European antitrust authorities. Senator Elizabeth Warren and other progressives had urged Khan to block the acquisition, arguing in a September 2022 letter that Amazon is "'almost universally recognized' as the leader in warehouse and fulfillment robotics space" and that the deal "would open up a new market to Amazon's abuses." After the deal fell through, iRobot cut 31% of its workforce and moved "non-core engineering functions to lower-cost regions." The company had shifted production to Vietnam to reduce its exposure to China but was hit by tariffs under Trump's Liberation Day trade measures -- initially 46%, later reduced to 20%. iRobot said the trade uncertainty made it difficult to operate.

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Tony Isaac shares a report from CNN: President Donald Trump's social media and crypto company is making a huge bet on a far different industry -- nuclear fusion, a potentially lucrative albeit commercially unproven energy technology that could help power a suddenly electricity-starved economy. Trump Media and Technology Group Thursday announced a surprise merger with TAE Technologies, in an all-stock deal valued at more than $6 billion that would create one of the first publicly traded fusion companies. News of the deal shares of Trump Media (DJT) 35% higher in early trading Thursday. After the deal closes, shareholders of Trump Media and TAE would own about 50% of the combined entity. The combined companies plan to begin construction as soon as next year of the world's first fusion reaction that could produce electricity on utility scale, rather than just in laboratory settings. The combination with TMTG could give TAE political clout. But it could also make it more politically controversial, particularly if it looks to receive any kind of federal government support, such as grants, low-interest loans or permitting approvals. It could also give TAE access to capital that it needs. Under terms of the deal, TMTG would provide $300 million in cash for TAE's plans. But that is likely a fraction of the cash available from some of TAE's current investors, such as Google parent company Alphabet, as well as its bevy of private equity investors. But that $300 million is only a fraction of the money that TAE needs, or expects to be able to access, once it has become a public company with this deal. Staying a private company, even with deep pocketed investors, is no longer sufficient TAE CEO Michl Binderbauer told CNN Thursday. "It's a multi-billion dollar undertaking," said Binderbauer. "The velocity you can get the capital is differentiating. If I raise $2 billion over five years I can't built the plant sufficiently fast." He said the company has raised about $1.3 billion over the course of its 25-year history.

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