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China's ByteDance will get 1 of 7 board seats for TikTok's US operations, official says - The Economic Times

Economic Times

Economic Times · 25d ago

China's ByteDance will get 1 of 7 board seats for TikTok's US operations, official says - The Economic Times

The U.S.-China TikTok agreement allows ByteDance to select one of seven board members for the company’s U.S. operations, with the remaining seats held by Americans. The deal, which aims to prevent a TikTok ban and satisfy U.S. law requirements, involves American investors owning TikTok’s U.S. assets and storing user data on American infrastructure. The agreement, yet to be finalized, focuses on data privacy and divestiture amid ongoing U.S.-China trade tensions.

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Americans will get six of seven board seats for TikTok's US operations, says White House - The Economic Times

Economic Times

Economic Times · 25d ago

Americans will get six of seven board seats for TikTok's US operations, says White House - The Economic Times

The agreement on TikTok's future in the U.S. includes appointing Americans to six out of seven board seats for its U.S. operations, with ByteDance naming one member. All American user data will be stored on Oracle's U.S. cloud infrastructure. President Trump aims to finalize the deal, which prevents a shutdown if TikTok's U.S. assets aren't sold by 2025. ByteDance will retain less than 20% of the joint venture controlling U.S. operations.

ByteDance to set up US company as part of TikTok restructuring, LatePost reports - The Economic Times

Economic Times

Economic Times · 20d ago

ByteDance to set up US company as part of TikTok restructuring, LatePost reports - The Economic Times

ByteDance is reportedly establishing a new U.S. company to manage TikTok's American operations. According to LatePost, the new entity will oversee e-commerce, branding, and connections with ByteDance's global operations. As of now, ByteDance has not issued any official statement or response regarding this development.

Trump will sign the TikTok deal on Thursday, source says - The Economic Times

Economic Times

Economic Times · 22d ago

Trump will sign the TikTok deal on Thursday, source says - The Economic Times

Earlier this week, the White House said Trump will declare that a deal to divest TikTok's U.S. operations from its Chinese owner ByteDance will meet requirements set out in a 2024 law, and investors will include Oracle, and private equity firm Silver Lake.

Irish data regulator opens new inquiry into TikTok over data stored in China - The Economic Times

Economic Times

Economic Times · 3m ago

Irish data regulator opens new inquiry into TikTok over data stored in China - The Economic Times

Ireland's Data Protection Commission has launched a new investigation into TikTok regarding the storage of European users' data on servers in China. This follows TikTok's previous fine of 530 million euros in May for transferring European data to China. The inquiry focuses on data storage practices by TikTok, which is registered in Ireland as its EU headquarters. Owned by China's ByteDance, TikTok faces scrutiny over its handling of user information.

Trump says TikTok sale deal to come before April 5 deadline

Economic Times

Economic Times · 6m ago

Trump says TikTok sale deal to come before April 5 deadline

Former President Donald Trump announced that a deal for TikTok's sale by its Chinese parent company, ByteDance, would be finalized before the April 5 deadline. The U.S. demands a non-Chinese buyer due to national security concerns. Blackstone is considering joining existing investors to bid for TikTok's U.S. operations. Despite China's involvement, the White House has been instrumental in the negotiations. The deal is crucial due to potential data influence operations against the U.S. by China.

TikTok ban not lifted: Officials - The Economic Times

Economic Times

Economic Times · 1m ago

TikTok ban not lifted: Officials - The Economic Times

India has not lifted its ban on TikTok, despite recent changes on the app's website. Government officials confirmed that TikTok's content remains inaccessible. The app, owned by ByteDance, was banned in 2020 alongside other Chinese applications due to security concerns. India was one of TikTok's largest markets before the ban. Current geopolitical shifts include a warming in India-China relations and tensions with the US. Prime Minister Modi is scheduled to visit China for an upcoming summit.

Democratic senator proposes new safeguards to keep TikTok online - The Economic Times

Economic Times

Economic Times · 2m ago

Democratic senator proposes new safeguards to keep TikTok online - The Economic Times

Democratic Senator Ed Markey has proposed new national security measures to keep TikTok operational in the U.S. without ByteDance being forced to divest its U.S. operations, contravening a Congress directive. Previously, President Trump ordered the Justice Department not to enforce this requirement. Markey's plan suggests enhancing transparency and limiting foreign data access to secure TikTok's presence. This comes amidst ongoing debates over TikTok's future and Trump's extension of divestment deadlines.

Trump says US will start talks with China on TikTok deal this week - The Economic Times

Economic Times

Economic Times · 3m ago

Trump says US will start talks with China on TikTok deal this week - The Economic Times

U.S. President Donald Trump announced plans to start talks with China regarding a potential TikTok deal. He mentioned discussions would likely begin on Monday or Tuesday, potentially involving President Xi or his representatives. The U.S. had extended the deadline for ByteDance, TikTok's parent company, to divest its U.S. assets. A previous deal to establish a new U.S.-based entity was stalled after China objected, necessitating new negotiations. Trump expressed cautious optimism about reaching an agreement.

Brazil to begin construction on TikTok data center in six months, minister says - The Economic Times

Economic Times

Economic Times · 5d ago

Brazil to begin construction on TikTok data center in six months, minister says - The Economic Times

Construction on a TikTok data center in Brazil is set to begin in six months in the northeastern state of Ceara, aiming to bring in approximately 50 billion reais ($9.11 billion) in investment, as confirmed by Mines and Energy Minister Alexandre Silveira. The facility is a joint initiative by TikTok's parent company ByteDance and wind farm developer Casa dos Ventos, planned for the Pecem port complex, leveraging Brazil’s renewable energy and tax incentives.

How Trump's TikTok negotiations were upended by China and tariffs

Economic Times

Economic Times · 6m ago

How Trump's TikTok negotiations were upended by China and tariffs

The Trump administration's plan to restructure TikTok and address national security concerns was disrupted by heightened trade tensions between the U.S. and China. ByteDance, TikTok's owner, had proposed a structure granting 50% ownership to new American investors, complying with U.S. regulations. However, China's opposition, influenced by recent U.S. tariffs, halted progress. The situation illustrates TikTok's precarious position amid geopolitical disputes over trade and technology, raising uncertainty about reaching a resolution.

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