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Paul Milgrom and Robert B. Wilson, have had their ideas applied to sales of everything from aircraft landing slots to fishing quotas. Their theories are even evolving to encompass renewable energy markets.

7-Eleven buys Marathon Petroleum's Speedway gas stations to expand in the U.S. Microsoft tries to save TikTok deal. Google invests in home security company ADT. More deal news from GTCR and Motorola.

The deal will widen the potential reach for Google’s own smart-home devices, led by its Nest offering.

Microsoft confirmed talks to buy TikTok’s operations in the U.S., as well as in Canada, Australia and New Zealand, and said it’s aiming to complete the deal no later than Sept. 15.

The company has been discussing the investment in Jio Platforms Ltd., the digital arm of Ambani’s Reliance Industries. The Indian tycoon wants to transform his energy conglomerate into a homegrown technology behemoth akin to China’s Alibaba Group.