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ByteDance earnings to double

Mining Weekly

ByteDanc e, the Chinese company behind the smashhit video app TikTok, saw its earnings double last year.

An internal memo released to staff showed that the firm's total revenue jumped by 111% to $34.3bn (£24.7bn) for 2020.

The figures underscore TikTok's continued global popularity.

It comes as ByteDance and several other Chinese technology giants have come under increasing pressure from governments around the world.

ByteDance also saw its annual gross profit rise by 93% to $19bn, while it recorded a net loss of $45bn for the same period.

The net loss was attributed to a one-off accounting adjustment and not related to the company's operations.—

SALDANHA BAY, South Africa – A floating gas-turbine generator meant to alleviate South Africa’s crippling power cuts has run into objections by oyster farmers and small-scale fishermen, who fear the environmental damage will destroy their livelihoods.

The seafood sellers fear the 415 megawatt ship — to be moored for two decades at Saldanha Bay, 140km north of Cape Town — will pump hot water into the bay and make endless noise, spoiling farmed oysters and scaring off fish as Africa's most industrialised country scrambles to fix electricity problems.

Responding to complaints by the Green Connection environmental justice group, the South African government on June 11 suspended an environmental authorisation application for operator Karpowership in Saldanha Bay. It cited the Green Connection's allegation that Karpowership failed to conduct specialist studies on underwater engine noise. — Reuters

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2021-06-20T07:00:00.0000000Z

2021-06-20T07:00:00.0000000Z

https://digital.alphamedia.co.zw/article/281689732770694

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