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The News in Brief

Designer Brands Owed Millions After Matchesfashion Collapse

The administrators said the retailer’s 541 known unsecured creditors are owed at least £35.6 ($44.2 million) but are unlikely to collectively receive more than £800,000 ($996,000), or “less than a penny in the pound.”


TikTok to Challenge US Ban

President Biden signed the bill that gives China-based ByteDance 270 days to divest TikTok’s US assets or face a ban.


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