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Oracle's role in TikTok's future gets Capitol Hill scrutiny
Economic Times
·
4m ago
Medial
Oracle's potential involvement in TikTok's future is under scrutiny in Washington. With TikTok owned by China's ByteDance, concerns about national security persist. Oracle, already a tech partner for TikTok in the U.S., has met with Capitol Hill aides to discuss compliance with laws demanding TikTok's sale to a non-Chinese owner by April 5. Lawmakers warn against deals that might maintain Chinese influence. The decision ultimately rests with the White House, as the deadline looms.
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TikTok CEO lobbies against US ban, faces skepticism in Congress
Livemint
·
1y ago
Medial
TikTok's CEO, Shou Chew, visited Capitol Hill to convince US senators to reject a bill that would require the app's Chinese parent company, ByteDance, to sell it or face a ban in the US. The House of Representatives is scheduled to vote on the bill, which requires a two-thirds majority, and former President Donald Trump has indicated his opposition to a ban. However, some senators have expressed skepticism about the proposal, highlighting concerns about unintended consequences and potential retaliation against US companies. The issue of TikTok's ownership and data security continues to be debated.
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How TikTok lost the war in Washington
Livemint
·
1y ago
Medial
TikTok's failure to build support on Capitol Hill and misjudgments in navigating U.S.-China relations have ultimately led to the recently passed law requiring a sale or ban of the app in the United States. TikTok's CEO, Shou Zi Chew, missed opportunities early on to engage with lawmakers, instead focusing on negotiations with U.S. security officials that didn't yield favorable results. The app faced mounting opposition and criticism, highlighting concerns about national security and its influence on public opinion. TikTok now faces a legal battle or the need to find a U.S. buyer, with uncertain outcomes in both scenarios.
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US is turning its back on the world with or without Trump
Money Control
·
1y ago
Medial
The current crisis in US foreign policy is not just a concern if Donald Trump is re-elected in November but is already occurring as the US struggles to provide aid to Ukraine. The lack of urgency on Capitol Hill to address the situation is worrying, as Russia continues its attacks and Ukraine suffers from a shortfall in US support. This crisis highlights the deeper issue of political dysfunction in the US and raises doubts about America's global role. It also gives a glimpse into what the world could look like if the US fails to provide positive leadership in international affairs.
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Oracle gains as cloud infrastructure business gets AI boost
Economic Times
·
1y ago
Medial
Oracle's shares surged almost 9% on Wednesday, driven by increasing demand for its low-cost cloud infrastructure services for artificial intelligence applications. If sustained, this surge could add over $28 billion to Oracle's market valuation. The company's cloud infrastructure unit has been growing, offering competitive options to rivals like Google, Microsoft, and Amazon. Oracle has partnered with OpenAI and Google Cloud to extend its cloud infrastructure, further establishing its credibility as an AI platform. However, despite this positive news, Oracle's Q4 results fell short of expectations due to competition in its legacy database and enterprise resource planning software business.
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How TikTok saved its ecommerce business in Indonesia
Economic Times
·
8m ago
Medial
TikTok's ecommerce business in Indonesia faced obstacles when the government prohibited social media platforms from processing online payments. TikTok was forced to halt its ecommerce operations, but found a solution by partnering with local company Tokopedia. The deal allowed TikTok to relaunch its ecommerce feature called TikTok Shop, which operates on Tokopedia's infrastructure. The partnership is significant for TikTok's ambitions in ecommerce, as the app faces scrutiny and potential bans in countries like India and the United States. Southeast Asia, where TikTok has a strong presence, will play an important role in its ecommerce plans.
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Tech, regulations reshaping global banking revolution: Oracle's Sonny Singh
Livemint
·
1y ago
Medial
The article discusses the challenges faced by global banks in adopting new technologies and the role of technology in the digital transformation journey of banks. It also highlights Oracle's offerings in cloud infrastructure and industry-specific applications. The importance of collaboration with regulators for fair practices, innovation, and risk control is emphasized. The top technology priorities for the financial sector in the future include cloud native applications, enhancing regulatory capabilities, cybersecurity, financial crime prevention, and the application of AI.
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US House to vote next week on TikTok crackdown bill
Economic Times
·
1y ago
Medial
The U.S. House of Representatives will fast-track a vote on legislation that would require China's ByteDance to sell TikTok within six months or face a U.S. ban. The Energy and Commerce Committee unanimously approved the measure, marking significant momentum for a U.S. crackdown on the app. TikTok argues that the bill is a ban and suggests it would be challenging to find a suitable buyer in such a short timeframe. The legislation aims to address national security concerns over Chinese ownership of the app. TikTok users have been flooding Capitol Hill with phone calls urging lawmakers not to back the measure.
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Xiaohongshu (RedNote), China's answer to Instagram, hits No. 1 on the App Store as TikTok faces US shutdown | TechCrunch
TechCrunch
·
6m ago
Medial
Xiaohongshu, known as RedNote, surged to the top of the U.S. App Store amid TikTok's potential U.S. ban. Launched in 2013, the Chinese app is likened to Instagram, boasting 300 million monthly users, 79% female. Popular among TikTok creators as an alternative, Xiaohongshu offers Pinterest-like features and social shopping. It's attracted $917 million in funding and plans for an IPO, though its future in the U.S. remains uncertain amidst rising user interest and potential regulatory scrutiny.
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TikTok gets reprieve with Donald Trump order but with twist
Economic Times
·
6m ago
Medial
President Donald Trump signed an executive order delaying the enforcement of a TikTok ban by 75 days, suggesting the U.S. government should own half of TikTok’s U.S. operations. This delay provides time to evaluate the app's future concerning national security concerns. The legality of this order is debated, as prior legislation required TikTok's divestiture. Trump's stance has shifted since 2020, now seeking potential U.S. control to avoid banning the app.
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Donald Trump says Microsoft is in talks to acquire TikTok
Economic Times
·
6m ago
Medial
Microsoft is reportedly in discussions to purchase TikTok, as confirmed by US President Donald Trump. He expressed a desire to witness a competitive bidding war for the popular app. This development comes amid rising scrutiny over TikTok's data privacy and national security implications. The potential acquisition indicates Microsoft's interest in expanding its reach in the social media landscape, while the US government continues to evaluate TikTok's operations concerning user data security.
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