Bloomberg ByteDance Ltd.’s TikTok has slashed about $2 billion off its target for 2022 ad revenue, underscoring fallout of a global downturn that’s hammered fellow internet giants from Google to Meta Platforms Inc. TikTok Chief Executive Officer Shou Zi Chew told a handful of employees that the Chinese-owned app has slashed its ad forecast for 2022 to $10 billion …

  Bloomberg Europe’s inflation crisis is beginning to catch up with the automakers. Stellantis NV said consumers in Europe are slightly dialling back car purchases, joining Germany’s BMW AG in warning the region is on the backfoot due to surging costs for anything from energy to lending. Carmakers long defied economic headwinds thanks to robust demand for their priciest models, …

Bloomberg Hon Hai Precision Industry Co. intends to keep expanding capacity in China despite persistent disruption from some of the world’s harshest Covid control measures. The company known as Foxconn intends to raise capital spending in 2023 and the biggest portion of that expenditure will go toward its already giant production base in China, Chairman Young Liu told analysts. Foxconn, …