US Commerce Department announced a one-week delay until Sept. 27 in an order issued Friday that was set to require Apple Inc and Alphabet Inc's Google to remove the TikTok app for download
The deal mandates the creation of a new American company -- incorporated in Texas -- and the prospect of 25,000 new jobs
TikTok parent ByteDance Ltd. and Oracle submitted these details in their proposal to the Trump administration with a goal of averting an outright sale of the app or a shutdown of its US operations
Trump had previously threatened to ban the app unless its US operations were sold to a US company and the US government received a share of the proceeds
The U.S. Treasury submitted a revised term sheet to ByteDance late Wednesday to address national security concerns that was agreed to by the Chinese parent of TikTok
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Trump issued an executive order last month that would ban TikTok in the United States as early as Sept. 20 if ByteDance does not comply with a sale
Trump has ordered ByteDance to divest TikTok amid US concerns that user data could be passed to China's Communist Party government
They feel India will still want a local partner-based strategy in which data centres are placed locally within the country
Microsoft loses out; Chinese media stresses American operations won't be sold to any firm
Oracle Corp confirmed on Monday that it was part of a proposal made by TikTok-parent ByteDance to the US government to become a technology partner for the Chinese firm
Microsoft announced Sunday that its bid to buy TikTok has been rejected
Oracle Corp signaled a recovery in client spending as remote work spurred demand for cloud services as well as traditional licensing business, helping it beat expectations for first-quarter results
Oracle argued that the Defense Department unfairly and unnecessarily tailored the minimum contract requirements for Amazon and Microsoft
Some speculations surrounding the sale of TikTok's US operations may soon come to an end as the short video-sharing platform owned by Chinese unicorn ByteDance has reportedly reached a deal.
It can take up to 30 days to obtain preliminary approval to export the technology
Trump ordered ByteDance last week to divest TikTok's US operations within 90 days
The move would represent a strategic departure for Oracle, which caters mostly to corporate customers and generates the bulk of its sales from cloud offerings and software licensing
The American tech giant said its unique dual cloud region strategy enables customers to get disaster recovery services without having sensitive data leave the country
With RIL's market capitalisation crossing the Rs 11-trillion mark on Friday, its chairman and managing director Mukesh Ambani became the ninth-richest billionaire globally