NYC Nurses Strike Shuts Down 10 Private Hospitals as 15,000 Demand Safer Staffing and Benefits 
Saks Global Files for Bankruptcy Protection Amid Mounting Luxury Retail Pressures 
Taiwan Issues Arrest Warrant for OnePlus CEO Over Alleged Illegal Recruitment Activities 
Viking Therapeutics Sees Growing Strategic Interest in $150 Billion Weight-Loss Drug Market 
U.S. Lawmakers Raise Alarm Over Trump Approval of Nvidia AI Chip Sales to China 
Boeing Reaches Tentative Settlement With Canadian Victim’s Family in 737 MAX Crash Lawsuits 
Chevron Set to Expand Venezuela Operations as U.S. Signals Shift on Oil Sanctions 
Lynas CEO Amanda Lacaze to Retire After 12 Years as Rare Earths Demand Grows 
Alphabet Stock Poised for Growth as Bank of America Sees Strong AI Momentum Into 2026 
U.S. Government Invests $1 Billion in L3Harris Rocket Motor Business to Secure Missile Supply Chain 
China Considers New Rules to Limit Purchases of Foreign AI Chips Amid Growing Demand 
Amazon Reviews Supplier Costs as U.S.–China Tariffs Ease 
BlackRock to Cut Around 250 Jobs as CEO Larry Fink Pushes Strategic Shift 
Rio Tinto and BHP Agree to Explore Major Iron Ore Collaboration in Pilbara 
Zhipu AI Launches GLM-Image Model Trained on Huawei Chips, Boosting China’s AI Self-Reliance Drive 
SK Hynix to Invest $13 Billion in Advanced Chip Packaging Plant as AI Memory Demand Surges 
Tesla, EEOC Move Toward Mediation in Racial Harassment Lawsuit 
TikTok is investing $1.5 billion to buy a controlling stake in GoTo's shop in Indonesia. If the deal is successfully pushed through, TikTok Shop will be able to reopen in the Indonesian market.
TikTok's latest investment is the e-commerce division of PT GoTo Gojek Tokopedia, the largest tech firm in the country, which would create a tie-up that is expected to last long-term. The companies confirmed the deal on Monday, Dec. 11.
Impending Reopening of TikTok Shop
The stake acquisition deal comes several months after the Indonesian regulator ordered a ban on online shopping on all social media platforms. The officials explained that it had implemented the ban as a way of protecting smaller local merchants while safeguarding users' data at the same time.
As a result, TikTok was forced to shut down its TikTok Shop e-commerce service in the country. According to Reuters, ByteDance's TikTok unit agreed to pay $1.5 billion for a joint venture with the GoTo Group. This will allow the Chinese short-form video hosting service to resume its e-commerce business in Indonesia.
TikTok will also comply with all regulations to avoid any issues in the future that may lead to another shutdown as it reopens its TikTok shop. "The strategic partnership will commence with a pilot period carried out in close consultation with and supervision by the relevant regulators," TikTok and GoTo said in a joint statement.
Resolution to Protect Smaller Merchants
As TikTok and GoTo joined forces for e-commerce business in Indonesia, they said they would also help the smaller sellers by promoting Indonesian products on their respective platforms. They said that this plan will help local small and medium-sized businesses develop their production and sales strategies, according to BBC News.
Meanwhile, based on the agreement, TikTok will purchase 75.01% of GoTo's PT Tokopedia. It will also invest in TikTok Shop's Indonesian business when it merges with Tokopedia.
