Microsoft in advanced talks to buy TikTok's US business as Trump mulls ban

Donald Trump said he could use emergency economic powers or an executive order to enforce the action

Microsoft is in advanced talks to buy the US operations of TikTok, the popular Chinese-owned video app that has been a source of national security and censorship concerns, according to a person familiar with the discussions who spoke only on condition of anonymity because of the sensitivity to the negotiations.

The potential deal would be a victory for both companies, making Microsoft Corp. a major player in the social media arena and providing relief to TikTok and its parent company, Bytedance Ltd, a target of President Donald Trump's.

Trump said Friday that he would take action as soon as Saturday to ban