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ByteDance unit establishes venture with Chinese state media firm

A unit of ByteDance, the owner of video-sharing platform TikTok, has established a joint venture with a Chinese state media group to work on software development, artificial intelligence and blockchain technology, official registration documents showed. ByteDance, which is one of China's fastest-growing startups, has formed a series of partnerships with state media organisations in order to feed its leading news aggregator platform, Jinri Toutiao.

California governor to decide on PG&E bankruptcy plan

California Governor Gavin Newsom was expected to decide late on Friday whether a bankruptcy reorganization plan submitted by PG&E Corp, the state's largest investor-owned utility company, complies with a recently enacted state wildfire law.

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