Why investors should care about the fate of TikTok

As the geopolitical conflict between the world's two biggest economies intensifies, the fate of TikTok will send an important signal to businesses trying to figure out the consequences of a less globalized world.

What's happening: Microsoft (MSFT) says it's still discussing a potential purchase of TikTok, days after President Donald Trump said he would ban the popular app from operating in the United States, my CNN Business colleague Clare Duffy reports.

In a blog post Sunday, Microsoft said its CEO Satya Nadella talked with Trump about buying the app, which is owned by Chinese startup ByteDance.

US policymakers have for weeks expressed concerns about the app, with many asserting it could pose a national security risk.

"[Microsoft] is committed to acquiring TikTok subject to a complete security review and providing proper economic benefits to the United States, including the United States Treasury," the company said, adding that it will "move quickly" to talk with ByteDance "in a matter of weeks."

The post suggests that TikTok could avert the ban that Trump threatened late Friday, when he said he could use emergency economic powers or an executive order to block the app from operating in the United States.

They also highlight the increasingly tricky world global companies need to navigate as the relationship between Washington and Beijing deteriorates.

Noel Quinn, CEO of global bank HSBC (HBCYF) said this Monday: "Current tensions between China and the US inevitably create challenging situations for an organization with HSBC's footprint."

7-Eleven owner scores $21 billion gas station deal

Marathon Petroleum (MPC) is selling the Speedway chain of gas stations to the Japanese owner of 7-Eleven for $21 billion — giving the oil company an injection of cash as crude prices remain depressed.

Details, details: The two firms announced the deal late Sunday.

It's one of the biggest acquisitions since the coronavirus pandemic hit earlier this year, my CNN Business colleague Kaori Enjoji reports.

Japanese retail giant Seven & i Holdings — which owns 7-Eleven, supermarket chain Ito-Yokado and the Sogo and Seibu department stores — said the deal is the largest in the company's history.

The Wall Street Journal reports that the two companies had been close to reaching an agreement earlier this year, but talks fell apart due to Covid-19.

Big picture: 7-Eleven will expand its presence in the United States at a time when car travel is expected to increase due to Covid-19.