ByteDance says it will downsize fintech business, plans to sell stock broker ops

The ByteDance logo is seen in this illustration taken, Nov. 27, 2019. REUTERS/Dado Ruvic/Illustration

BEIJING, Sept 2 (Reuters) – Beijing-based ByteDance, the owner of TikTok, said on Wednesday that it would shrink its financial services unit and that it planned to sell its stock broking operations amid China’s tightening grip on the financial technology (fintech) sector.

ByteDance operates Songshu Zhengquan, which translates to Squirrel Securities, in Hong Kong, and Haitun Gupiao, or Dolphin Stocks, in mainland China.

China recently has been tightening scrutiny towards the fintech sector, requiring companies to set up financial holding companies if they meet requirements to do so, as Alibaba’s (9988.HK) fintech affiliate Ant Group was forced to do earlier this year, a move that tightens capital requirements.

Sources have said that ByteDance has never prioritised fintech expansion, and that it has focused on sectors including e-commerce and gaming as its new sources of growth.

ByteDance

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Local business confused over SNAP benefit denial

WICHITA, Kan. (KWCH) – The Supplemental Nutrition Assistance Program, or SNAP, provides benefits used to purchase food by those who qualify. After one local business was told they weren’t eligible to accept SNAP from customers, they did some digging and found that a national pizza chain with a very similar business model can…and they want to know why.

For busy folks living in Hillsboro, Kansas, who want a home cooked meal but maybe don’t have the time to do the cooking, there is a place. Mama C’s Take and Bake. A place where “home” cooked meals are prepared but not finished. Customers can pick them up, pop them in the often when they get home and enjoy. Owner, Carla Hamm, says it’s a lot of work and a lot of food, but her customers appreciate the convenience.

“We provide meals we make. On our little sticker labeling system, we have

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US Military Disabled Over 150 Vehicles and Aircraft When It Left Kabul: General

  • The last manned US military aircraft departed the airport in Kabul on Monday.
  • The US disabled over 150 vehicles and aircraft when the military departed, a US general said.
  • The Taliban captured an arsenal of operational US-made weapons when it defeated the Afghan army.

The last manned US military aircraft have departed Hamid Karzai International Airport in Kabul, ending almost two decades of war in Afghanistan, Gen. Kenneth F. McKenzie, the head of US Central Command, said on Monday afternoon.

Asked about military equipment left behind at the airport, McKenzie said that some was brought out. Other systems, he said, were “demilitarized,” meaning US forces purposely broke them to prevent them from being used, CENTCOM clarified for Insider.

The counter rocket, artillery, and mortar systems, which were used to fend off a rocket attack on the airport on Monday, were kept online until the last minute

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Florida restaurant owner posts sign asking Biden supporters to take their business elsewhere

A Florida restaurant owner put a sign outside of her business telling supporters of President Joe Biden not to enter.

Angie Ugarte, the owner of DeBary Diner, posted the sign that criticizes the way Biden handled evacuations in Afghanistan, where a blast last week killed 13 U.S. service members.

‘MILITARY MISSION’ AND EVACUATIONS OVER IN AFGHANISTAN

“If you voted for and continue to support and stand behind the worthless, inept and corrupt administration currently inhabiting the White House that is complicit in the death of our servicemen and women in Afghanistan, please take your business elsewhere,” the sign says. “God bless America and God bless our soldiers.”

“It was the only thing I felt like I could do,” Ugarte said, according to FOX 35 News. “I was just angry. I was just let down. I felt like one of those mothers, or wives, or sisters who were

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How Freelance Developers Can Help Your Midsize Business

According to ICIMS, between 2016 and 2019 only 60% of tech jobs in the U.S. were filled, compared to 12 hires per 10 openings in all other positions. And this gap shows no signs of narrowing – there are currently 1,365,500 software developer vacancies at American businesses, while only 65,000 developers graduate from the college system every year. With independent careers in demand, midsize businesses have a significant opportunity to harness the power of the on-demand workforce. In the realm of digital transformation, where skilled workers are so scarce, flexible talent acquisition models are proving to be the get-out-of-jail-free card for those companies scared of falling behind in the digital arms race.

Covid-19 increased the urgency of digital transformation initiatives for businesses of all sizes. Small and midsize companies, without the budgets to invest in every innovation under the sun, were forced to focus on what mattered most and

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Colorado business licensing vulnerable to fraud

9Wants to Know exposed a scheme to get COVID relief money through 33 bogus businesses. The culprit used the Secretary of State’s website to revive entities on paper.

DENVER — A former white-collar crime investigator told 9NEWS he isn’t surprised COVID-19 relief scams have involved the business licensing system on the Colorado Secretary of State’s website.

“I would say that in Colorado, it’s really, really easy to do. And it’s really easy to do if you tell a lie to a computer. Nobody checks,” said John Henderson who now runs a private investigation firm. 

Henderson worked as an investigator for more than 30 years in the federal government, including in the Department of Homeland Security. He took a look at 9Wants to Know findings related to a COVID-19 relief fraud case published on Wednesday. 

RELATED: 33 non-existent businesses tied to 1 Denver office got millions in COVID-19 relief money

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Local business owners applaud vaccine mandates major employers are enforcing :: WRAL.com

— Major employers like Disney and CVS have recently mandated their workers get vaccinated against coronavirus, while Delta Airlines said it will start charging unvaccinated employees an extra $200 a month for health insurance.

While some major Triangle-area employers have remained silent on the idea of a vaccine mandate for staff, smaller businesses are applauding the move.

“I don’t want people here who haven’t been vaccinated,” said Gus Gusler, the owner of Raleigh restaurant Players’ Retreat. “You can’t work here if you haven’t been vaccinated.”

Players’ Retreat reopened two months ago with the restriction that only vaccinated customers and workers would be allowed inside.

Gusler praised Delta for its decision to charge higher insurance premiums to workers who aren’t vaccinated.

“There was a point where, if you were a smoker, they would raise your insurance rates,” he said. “At this point, I don’t

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Biden Promises Completion of Afghanistan Evacuation After ISIS Attacks

  • President Joe Biden said terror attacks would not deter the US from completing its evacuation mission from Afghanistan.
  • The president promised to rescue Americans and get Afghan allies out of the country in a Thursday speech.
  • “We will not forgive. We will not forget. We will hunt you down and make you pay,” he said to the perpetrators of the attack.

President Joe Biden promised to continue the US evacuation from Afghanistan following a set of ISIS-K attacks near the Kabul airport that killed 12 US service members and at least 60 Afghans on Thursday.

“We will rescue the Americans. We will get our Afghan allies out. And our mission will go on,” Biden said in a sometimes defiant, sometimes somber speech on Thursday evening.

The president said he was aware of the high likelihood of terror attacks targeting the US mission since the outset, which

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Women business owners speak to knowing your worth

BAKERSFIELD, Calif. (KERO) — Women’s Equality Day serves as a reminder to many just how far we have come on the way to equity for all. But for some, it brings up feelings of how far we must go.

“I would think speaking up for ourselves actually I think just standing up for ourselves and what we know how to do,” said Michelle Rainey founder of the Black Business Dollar Initiative.

Rainey said that knowing what you’re worth and asking for your worth is one of the best ways to eliminate the gender pay gap.

According to a recent study by business.org despite the increase in the number of loans for women-owned businesses and initiatives to equalize pay the national gap for yearly earnings between men and women is 18%.

In California that number falls between 12-13% meaning the average female salary is about 50 thousand and the average male

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There’s still ‘billions of dollars in relief’ available for small businesses: SBA administrator

Small businesses in America can still capitalize on the pandemic stimulus program offered by the federal government, U.S. Small Business Administration (SBA) Administrator Isabella Casillas Guzman told Yahoo Finance in a new interview.

“We still have billions of dollars in relief in our COVID idle program,” said Guzman, who began her term under President Joe Biden in March after serving as the Director of the California Office of the Small Business Advocate.

The SBA initiatives — including the $953-billion Paycheck Protection Program (PPP), the Restaurant Revitalization Fund, the Shuttered Venue Operators Grant (SVOG), and Economic Injury Disaster loans — were created to provide crucial funding after the nationwide shutdowns stemming from the coronavirus pandemic, which led to approximately 200,000 businesses permanently shuttering in 2020.

That residual funding may be crucial as the Delta variant surge in various parts of the country dashes hopes that workers will be back in large

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