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News on Medial
TikTok has a rule that strips workers of their stock if they ever bad-mouth the company: report
Business Insider
·
1y ago
Medial
TikTok has a provision in its shareholder agreement that can lead to the forfeiture of shares for current and former employees if they make "critical, adverse, or disparaging" comments about the company. This comes as a bill to sell or shut down TikTok gains traction amid concerns over data security. The company is also facing criticism for urging users to call their representatives to contest the bill, as lawmakers have been flooded with calls. It remains to be seen how this situation will unfold for TikTok and its employees.
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Congress and the White House are talking about a TikTok ban, again. TikTok is taking them seriously.
Business Insider
·
1y ago
Medial
Congress is considering a bill that would either ban TikTok or force its Chinese owners, ByteDance, to sell the company's US operations. This idea, previously pursued by the Trump administration, has resurfaced with bipartisan support. Although there may be no real consequences for politicians who claim they want to ban TikTok, there is a potential backlash from young voters who value the platform. TikTok has responded by informing users of the potential ban and encouraging them to contact their representatives. However, it remains unclear if TikTok truly believes a ban is imminent or if this is simply a precautionary measure.
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Judge hears arguments from TikTok and content creators who are challenging Montana's ban on app
Economic Times
·
1y ago
Medial
TikTok and Montana went to court over a case where the video-sharing app and five Montana content creators sought to block the state's ban on TikTok, scheduled for January 1, 2024. TikTok argued that Montana's ban is unwarranted, based on unproven concerns of data privacy. Content creators claim it infringes on their free speech rights and harms their businesses. U.S. District Judge Donald Molloy is expected to rule on the preliminary injunction request soon. Montana's law aims to fine app stores and TikTok for offering downloads in the state.
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China may sell TikTok US to Musk to avoid potential ban: Report
Inshorts
·
6m ago
Medial
Chinese officials are in preliminary talks about a potential option to sell TikTok's operations in the US to billionaire Elon Musk, Bloomberg reported. The report claimed that the option is being considered if TikTok cannot avoid a controversial ban being proposed by US authorities. The first preference of Chinese officials is that TikTok remain under parent ByteDance, the report added.
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TikTok loses Taylor Swift, Drake, and other major Universal Music artists
The Verge
·
1y ago
Medial
Universal Music Group (UMG) has removed the music catalogs of artists such as Taylor Swift, Drake, and Olivia Rodrigo from TikTok after failing to renew licensing agreements. UMG accused TikTok of pressuring them into a "bad deal" that didn't adequately compensate artists and safeguard against AI-generated music and online safety issues. TikTok responded by expressing disappointment and accusing UMG of prioritizing greed over the interests of their artists and songwriters.
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US states accuse TikTok of harming young users
Economic Times
·
10m ago
Medial
- 14 US states have filed lawsuits against TikTok, accusing the app of addicting young users and violating their privacy. - The lawsuits claim that TikTok intentionally targets children and exploits their curiosity and lack of willpower with features like beauty filters, endless scrolling, and autoplay videos. - The lawsuits argue that TikTok makes money by bombarding young users with ads. - TikTok denies the claims, stating that they have safeguards in place such as age restrictions, screen time limits, and privacy settings for minors. - TikTok is also facing a ban in the US if it remains owned by China-based ByteDance, as the US government alleges that it allows Beijing to collect data and spread propaganda.
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Amazon workers strike at seven US facilities ahead of Christmas rush
Economic Times
·
7m ago
Medial
Workers at several Amazon facilities in the U.S. went on strike to protest against what they perceive as unfair treatment and poor working conditions. The walkout, organized by the Teamsters, is being touted as the largest-ever strike against Amazon. However, with over 800,000 employees across 600 fulfillment centers, the overall impact on the company's operations is expected to be minimal. The workers are demanding that Amazon address their health and safety concerns and engage in negotiations. Amazon claims to provide competitive wages and use automation to minimize repetitive stress.
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Mint Explainer: What US' entrepreneur rule means for Indian startup founders
Livemint
·
1y ago
Medial
The US Department of Homeland Security has revised its International Entrepreneur Rule (IER) to allow non-citizen founders to apply for an authorized stay in the country if they demonstrate significant public benefit through their startups. The rule applies to entrepreneurs living abroad or already within the US, and their startup entities must have been formed in the US in the past five years and show potential for rapid growth and employment opportunities. Indian startup founders may benefit from access to funding opportunities and a diverse consumer base in the US, but challenges include stringent eligibility criteria and exposure to US taxation. The impact on Indian startup founders looking to flip back to India remains uncertain.
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Mysuru layoffs: NITES threatens protest; Infosys says testing norms communicated to trainees
YourStory
·
5m ago
Medial
Infosys faced criticism after laying off over 300 trainees who failed internal tests at its Mysuru campus. The IT workers’ union NITES threatened protests if the government doesn't act against the perceived injustice. Infosys maintains that performance assessments were clearly communicated as part of their training program, which is globally recognized. They provided severance pay and support to affected trainees. NITES insists on accountability and justice, considering the layoffs unfair and threatening protests if ignored.
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US Treasury finalizes new crypto tax reporting rules
Economic Times
·
1y ago
Medial
The U.S. Treasury Department has issued a rule that will require cryptocurrency brokers to report user information on digital asset sales and exchanges to the Internal Revenue Service. The new regulations are aimed at ensuring that crypto users are paying their taxes and are expected to generate $28 billion in revenue over a decade. The rule will be phased in from next year and brings tax requirements for cryptocurrencies in line with existing reporting requirements for other financial instruments. The rule also includes a $10,000 threshold for reporting transactions involving stablecoins.
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US TikTok content creators warn followers to find them on Instagram, YouTube
Economic Times
·
8m ago
Medial
Some American content creators on TikTok are urging their followers to subscribe to their channels on other platforms like Instagram and YouTube, after a federal appeals court ruled that TikTok could be banned in the U.S. if it is not sold to a U.S.-based company by January 19. This comes as concerns grow over TikTok's Chinese owners gathering information about American consumers. Many content creators expressed worries about the potential economic impact on small businesses and the loss of the community they have built on the app. While some remain skeptical, others are preparing for the worst and promoting their presence on alternative platforms.
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