Page 12 - Tiktok

US Treasury seeks more review authority over deals with foreign firms

U.S. Treasury wants to enhance the power of a little-known, secretive government committee to review deals made between U.S. firms and foreign investors. This comes as high-profile deals involving foreign investment in the U.S. like Chinese firm ByteDance's ownership of popular social media app TikTok and Japanese firm Nippon Steel's bid to purchase Pittsburgh-based U.S. Steel Corp. receive increased scrutiny by lawmakers and even President Joe Biden. A new proposed rulemaking would strengthen powers for the interagency Committee on Foreign Investment in the United States known as CFIUS which is tasked with investigating corporate deals for national security concerns and holds power to force the company to divest ownership or change major parts of the firm. The rulemaking if finalized would expand the committee's subpoena authority, allow the committee to request more information from parties to a proposed sale and expand circumstances when fines can be imposed and their size

From overcapacity to TikTok, here are issues covered in Yellen's China trip

US Treasury Secretary Janet Yellen and her team are leaving China and returning to Washington after trying to tackle the major questions of the day between the countries. Here's a look at what she tried to accomplish, what was achieved, and where things stand for the world's two largest economies: UNFAIR TRADE PRACTICES Yellen said she wanted to go into the U.S.-China talks to address a major Biden administration complaint that Beijing's economic model and trade practices put American companies and workers at an unfair competitive disadvantage by producing highly subsidized solar products, electric vehicles and lithium-ion batteries at a loss, dominating the global market. Chinese government subsidies and other policy support have encouraged solar panel and EV makers in China to invest in factories, building far more production capacity than the domestic market can absorb. She calls this overcapacity. Throughout the week of meetings, she talked about the risks that come from one ..

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Chinese TikTok sellers complain of strict rules on selling in US mkt

TikTok, used by about 170 mn Americans, has been seeking to strike the right balance between pursuing rapid growth and managing regulatory risks

US TikTok creators warn of economic hit if app banned, call it vital space

Alex Pearlman shut the door on dreams of a standup comedy career almost a decade ago, pivoting from the stage to an office cubicle where he worked a customer service job. Then he started posting random jokes and commentary about pop culture and politics on TikTok. Just over 2.5 million followers later, he quit his nine-to-five and recently booked his first nationwide tour. Pearlman is among the many TikTok creators across the U.S. outraged over a bipartisan bill passed by the House of Representatives on Wednesday that would lead to a nationwide ban of the popular video app if its China-based owner, ByteDance, doesn't sell its stake. The bill still needs to go through the Senate, where its prospects are unclear. Content creators say a ban would hurt countless people and businesses that rely on TikTok for a significant portion of their income, while also arguing TikTok has become an unrivaled platform for dialogue and community. Pearlman, who lives outside Philadelphia, said TikTok h

Facing possible ban from US govt, TikTok turns to its creators to fight it

Many of the creators have met with lawmakers and posted videos about their opposition to the bill with the hashtag #KeepTikTok, often with the irreverent humour the app is known for

US' proposed ban on TikTok 'not fair', says China's foreign ministry

legislators have raised fears that TikTok's US user data could be passed on to China's government

US lawmakers cite India as they vote on bill to regulate TikTok ownership

US lawmakers on Wednesday cited the bold move by India to ban TikTok four years ago as they voted in support of legislation about the Chinese app. In a major bipartisan move, the House of Representatives passed by 352 to 65 votes the Protecting Americans From Foreign Adversary Controlled Applications Act co-authored by Indian American Congressman Raja Krishnamoorthi, a Democrat, and Congressman Mike Gallaghe from the Republican party. The bill, which seeks to control the ownership of foreign apps like TikTok in the US, now heads to the Senate for it to be sent to the White House for the President to sign it into law. Several lawmakers referred to the decision taken by India in 2020 to ban the app. In 2020, India banned 59 Chinese-created apps, including TikTok, emphasising their priority to defend India's national security, said the office of Congressman Greg Murphy in a statement. Lack of transparency from TikTok executives and their unwillingness to protect user privacy and ...

US passes bill that would lead to TikTok ban if Chinese owner doesn't sell

The House on Wednesday passed a bill that would lead to a nationwide ban of the popular video app TikTok if its China-based owner doesn't sell, as lawmakers acted on concerns that the company's current ownership structure is a national security threat. The bill, passed by a vote of 352-65, now goes to the Senate, where its prospects are unclear. TikTok, which has more than 150 million American users, is a wholly owned subsidiary of Chinese technology firm ByteDance Ltd. The lawmakers contend that ByteDance is beholden to the Chinese government, which could demand access to the data of TikTok's consumers in the US any time it wants. The worry stems from a set of Chinese national security laws that compel organisations to assist with intelligence gathering. We have given TikTok a clear choice, said Rep. Cathy McMorris Rodgers, R-Wash. Separate from your parent company ByteDance, which is beholden to the CCP (the Chinese Communist Party), and remain operational in the United States, o

US House to vote on bill that decides ByteDance-owned TikTok's fate in US

Tiktok CEO Shou Zi Chew will visit Capitol Hill on Wednesday on a previously scheduled trip to talk to senators, a source briefed on the matter said

TikTok ban will help Facebook, even if it's national security threat: Trump

Former President Donald Trump said Monday that he still believes TikTok poses a national security risk but is opposed to banning the hugely popular app because doing so would help its rival, Facebook, which he continues to lambast over his 2020 election loss. Trump, in a call-in interview with CNBC's Squawk Box, was asked about his comments last week that seemed to voice opposition to a bill being advanced by Congress that would effectively ban TikTok and other ByteDance apps from the Apple and Google app stores as well as US web hosting services. Frankly, there are a lot of people on TikTok that love it. There are a lot of young kids on TikTok who will go crazy without it, Trump told the hosts. There's a lot of good and there's a lot of bad with TikTok. But the thing I don't like is that without TikTok you're going to make Facebook bigger, and I consider Facebook to be an enemy of the people, along with a lot of the media. When I look at it, I'm not looking to make Facebook double

As Big Tech scrambles to meet EU regulations, investigations seen as likely

The Digital Markets Act (DMA) is one of the most comprehensive regulatory actions to rein in so-called "Big Tech" and is expected to reshape the global technology industry after decades of unfettered

Lawmakers seek to force ByteDance to divest TikTok or face ban in US

"Applications like TikTok that are controlled by foreign adversaries pose an unacceptable risk to U.S. national security," the lawmakers said in a fact sheet

US cannot be the last nation to ban Chinese app TikTok, says Nikki Haley

Describing Chinese-owned app TikTok as dangerous, Republican presidential aspirant Nikki Haley has said that when countries like India and Nepal have banned this social media platform, the US cannot be the last nation to do the same. What everybody needs to know is China is controlling all of that, Haley, the Indian-American former US Ambassador to the UN, said during a Fox News town hall. If you want to know how it affects you, just imagine by having that app on your phone, China can now see your finances, they can now see who your contacts are. They can see what you click on, why you click on it and how it affects you. They can impact what you see. And they can impact what you hear. That is the dangerous part of TikTok, Haley, 52, said on Sunday. And India has banned it. You had Nepal just banned it because it was causing social disruption. America can't be the last country to ban TikTok. Let's end it now and stop it so it doesn't hurt our children any further, Haley said in ...

TikTok ramps up fight against fake news, covert influence ahead of EU polls

The company worked with news checkers to produce educational videos about the electoral process and misinformation via the election centres during national elections in previous years

Biden's campaign joins TikTok amid national security concerns with app

President Joe Biden's 2024 campaign is now on TikTok, even though he has expressed national security concerns over the platform and banned it on federal devices. Biden isn't expected to personally join the platform, aides said, nor the others in his administration. The account will be run entirely by the campaign team in an effort to reach voters in an ever-fragmented American population, particularly as younger voters gravitate away from traditional platforms. The inaugural post featured the president being quizzed on the Super Bowl and included a reference to the latest political conspiracy theory centering on music superstar Taylor Swift. Both the FBI and the Federal Communications Commission have warned that TikTok owner ByteDance could share user data such as browsing history, location and biometric identifiers with China's authoritarian government. Biden in 2022 banned the use of TikTok by the federal government's nearly 4 million employees on devices owned by its agencies,

TikTok, Meta attack at European Union's content moderation laws in court

ByteDance Ltd.'s TikTok took the European Commission to court on Feb. 6 and Meta filed its challenge a day earlier, filings show

Protecting creator economy will be foundational: YouTube CEO Neal Mohan

YouTubeTV subscriptions over eight million; paid over $70 billion to creators, artists over three years

A 23-year-old US man buys foldable home from Amazon, watch video here

A US man bought a foldable home from Amazon costing $26,000. Jeffrey Bryant shared a video which is viral on TikTok and was also shared on Twitter

Best yet to come: Zuckerberg recaps Facebook journey on its 20th birthday

Facebook was co-founded by Mark Zuckerberg, entrepreneurs Dustin Moskovitz and Eduardo Saverin and launched on February 4, 2004