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Hi there,
Here's what we're watching in business and tech news this week:
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The Trump administration's payroll tax deferral plan will begin this week. US-based corporations can stop withholding payroll taxes starting tomorrow, but employees will still have to pay those taxes by April 2021. The new guidance applies solely to those making less than $104,000 annually.
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A buyer for TikTok’s US operations could be announced as soon as this week. A number of US cos have already jumped in the battle to acquire the app, including Microsoft and Walmart, Oracle, and more. However, China unveiled new tech export curbs on Friday that would restrict specific technologies from being sold overseas, including "personalized content recommendations based on data analysis" — what TikTok is known for — which could complicate the deal.
- Christopher Nolan’s Tenet opens in US theaters on Thursday, representing the first big budget movie release since Covid-19 hit. Disney is forgoing theaters entirely and offering its live action Mulan remake directly on its Disney+ streaming service starting Friday. We map out what the future of entertainment might look like in this report.
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