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Trump ex-Treasury chief seeks TikTok buyout bid as China seethes
Economic Times
·
1y ago
Medial
Former US Treasury Secretary, Steve Mnuchin, has announced plans to lead a buyout bid for TikTok once a bill forcing the sale of the Chinese-owned social media app passes. The US House of Representatives has already approved the bill, which would require TikTok to divest from its parent company or face a nationwide ban. Mnuchin stated that TikTok should be owned by US businesses, as he believes the Chinese government would not allow a similar scenario in China. Beijing, however, criticized the bill and vowed to protect its rights and interests.
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Related News
JD Vance has a TikTok problem. Can he find a solution?
Economic Times
·
5m ago
Medial
Vice President JD Vance is exploring Frank McCourt's bid to buy TikTok as part of efforts, initiated by former President Donald Trump, to relocate TikTok ownership to a non-Chinese entity due to security concerns. Although TikTok remains popular in the U.S. with around 170 million users, challenges persist, such as gaining approval from TikTok's Chinese owner, ByteDance. Potential bids for TikTok are underway, but Vance's involvement could enhance negotiation credibility.
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US Supreme Court to hear TikTok ban case
Economic Times
·
7m ago
Medial
The US Supreme Court is set to hear TikTok’s appeal against a US law requiring its Chinese owner, ByteDance, to sell the app or face a ban. The law, signed by President Biden, alleges TikTok enables Beijing's data collection, which both China and ByteDance deny. TikTok argues the law violates its First Amendment rights. The potential ban may affect US-China relations, especially as President-elect Trump emerges as an unexpected ally of TikTok.
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Trump says China could get tariff relief if it approves TikTok deal
Economic Times
·
4m ago
Medial
President Donald Trump indicated he might consider tariff relief for China if it approves a sale agreement for TikTok, owned by ByteDance. Speaking aboard Air Force One, Trump highlighted the potential use of tariffs as a negotiation tool, suggesting China might exchange TikTok's approval for tariff concessions. TikTok faces an April 5 deadline to find a non-Chinese buyer to avoid a U.S. ban. Discussions involved multiple investors, and Trump's administration is close to a deal.
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OnlyFans founder, crypto foundation submit late-stage bid to buy TikTok
Economic Times
·
4m ago
Medial
OnlyFans founder Tima Stokely and the Hbar Foundation, managing the Hedera cryptocurrency network, have submitted a bid to acquire TikTok from ByteDance. Their company, Zoop, aims to create a platform rewarding creators directly. This bid aligns with US efforts to address national security concerns over TikTok’s Chinese ownership. The outcome hinges on approval from President Trump, with April 5 as a key deadline, amid concerns over freedom of speech and foreign influence.
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Ex-TikTok executive says she was fired because she 'lacked the docility and meekness' required of women at the company
Business Insider
·
1y ago
Medial
Katie Ellen Puris, a former managing director at TikTok, is suing the company and its China-based owner, ByteDance, for discrimination and retaliation. Puris alleges that she was unlawfully terminated because she "lacked the docility and meekness" that the corporate executives deemed necessary for female employees. She also reported mistreatment, including sexual harassment, to the company, but claims that no appropriate action was taken. The lawsuit seeks unspecified damages and a trial by jury.
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"Something needs to change": Elon Musk questions X's ban in China after TikTok ban reversal
Economic Times
·
6m ago
Medial
Tesla CEO Elon Musk praised President-elect Trump’s decision not to ban TikTok, citing freedom of speech. He noted the imbalance that TikTok operates in the US while X is banned in China, calling for change. Despite a potential benefit to X, Musk opposed TikTok's US ban. Trump agreed to approve TikTok if the US owns 50% to save American jobs. The Chinese app thanked Trump for restoring US access, attributing positive outcomes to the "Trump Effect."
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Trump says he 'most likely' will give TikTok 90-day extension to avoid US ban
Economic Times
·
6m ago
Medial
President-elect Donald Trump is considering giving TikTok a 90-day extension to avoid a U.S. ban, allowing more time for its Chinese parent company to sell its U.S. operations. The law banning the app takes effect Sunday, but Trump might announce an extension Monday. The Biden administration has left the decision to Trump, whose inauguration is a day after the ban. TikTok seeks assurance against enforcement, while Apple, Google, and Oracle remain silent on their plans.
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Trump Signals Willingness to Delay TikTok Ban Deadline Amid US-China Tariff Dispute
OutlookIndia
·
2m ago
Medial
US President Donald Trump is considering extending the deadline for ByteDance to divest TikTok’s US assets, amid US-China tariff disputes. Trump postponed a TikTok ban twice, valuing its connection with young voters, and expressed interest in protecting the app. A potential US-based deal is hindered by China's non-approval, relating to reciprocal tariffs. TikTok denies allegations of security threats or manipulation, asserting its independence from any governmental influence, including China.
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Perplexity AI submits bid to merge with TikTok
TechCrunch
·
6m ago
Medial
Perplexity AI has submitted a bid to merge with TikTok US amid potential bans in the US, suggesting a new entity with TikTok US and new equity partners. ByteDance investors could retain their equity. The potential law could force ByteDance to sell or face a ban by January 19. President Trump may grant a 90-day extension, but TikTok might face shutdown without Biden administration assurances. ByteDance insists it won't sell TikTok despite multiple buyer interests.
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TikTok hires ex-Trump administration lawyer ahead of Supreme Court appeal
Economic Times
·
8m ago
Medial
TikTok and its Chinese parent company, ByteDance, have enlisted the help of former US solicitor general Noel Francisco in their battle against a potential ban on the popular video-sharing platform in the United States. Francisco, who served under President Donald Trump, will represent TikTok alongside his partner at the law firm Jones Day. The ban is due to be enforced unless ByteDance divests itself of TikTok by January 19, 2025, over concerns about national security and data privacy. TikTok has denied any ties to the Chinese government.
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