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But American apps have long been barred in China. “The TikTok bill appears likely to become law and China’s displeasure seems ironic, if not hypocritical, given its stance toward American social apps,” said Brock Silvers, managing director at Kaiyuan Capital. The Chinese government has said it strongly opposes a forced sale of TikTok, and it has the legal ability to do so. A man walks past the headquarters of ByteDance, the parent company of TikTok, in Beijing. “While China has completely banned [these] American apps, TikTok enjoys all the benefits of America’s free and open legal and political systems,” he said.
Persons: Hong Kong CNN — TikTok, ByteDance doesn’t, Wang Wenbin, , Brock Silvers, Wang, Joe Biden, TikTok, CNN Beijing’s, Trump, Greg Baker, , Winston Ma, Silvers, Alex Capri, Craig Singleton, “ We’ve, ” Capri Organizations: Hong Kong CNN, US, Foreign Ministry, Google, Kaiyuan, Chinese Commerce Ministry, ByteDance, Trump, CNN, Commerce Ministry, Getty, New York University School of Law, Foundation, National University of Singapore Business School, Foundation for Defense of Democracies, Weibo, Twitter, Facebook Locations: China, Hong Kong, United States, Beijing, TikTok, ByteDance, AFP, Washington, Washington , DC
At one point, Elon Musk might have seemed like a great candidate to buy TikTok. Turns out my boss Henry Blodget is suggesting we all band together to rustle up the money to buy TikTok. You might recall Elon Musk from 2022. And that Elon Musk would be a great candidate to buy the US operations of TikTok. The sales pitch would be simple: Elon Musk.
Persons: Elon, , Steven Mnuchin, doesn't, Bobby Kotick, Sam Altman, Henry Blodget, Henry, didn't, Joe Biden, ByteDance, that's, Steve Mnuchin, — Elon, Elon Musk, Guy Who, Esther Crawford, Musk, he's Organizations: Service, Activision, Street, Yahoo, Twitter, Elon Locations: TikTok, ByteDance
Former Treasury Secretary Steven Mnuchin is building an investor group to acquire ByteDance's TikTok, as a bipartisan piece of legislation winding its way through Congress threatens its continued existence in the U.S. "It's a great business and I'm going to put together a group to buy TikTok." There's no way that the Chinese would ever let a U.S. company own something like this in China," Mnuchin said. Last week, Mnuchin's Liberty Strategic Capital was a lead investor in a $1 billion capital raise to stabilize New York Community Bancorp. That administration also took an antagonistic stance toward TikTok, which ultimately resulted in ByteDance striking a data partnership with Oracle .
Persons: Steven Mnuchin, ByteDance's, ByteDance, Mnuchin, CNBC's, Masa, Joe Biden, Peter Thiel, Vinod Khosla, Keith Rabois, TikTok, Shou Zi Chew, Wang Wenbin, Bobby Kotick, Donald Trump, Trump Organizations: U.S, Liberty Strategic Capital, Vision Fund, Senate, Lawmakers, China Foreign Ministry, Financial Times, Street, Activision, Community Bancorp, Oracle Locations: Liberty, ByteDance, U.S, China, TikTok, New
New York (CNN) — Is the artificial intelligence boom on Wall Street a bubble primed to burst or the real deal? That’s the question investors have wrestled with since the Magnificent Seven tech stocks began turbocharging a powerful market rally last year. “A new bubble within a bubble like this, even one limited to a handful of stocks, is totally unprecedented,” he wrote in a Monday blog post. “The long-run prospects for the broad US stock market here look as poor as almost any other time in history,” he wrote. Still, the notorious market bear sees some areas of opportunity in the stock market.
Persons: , Jeremy Grantham, , Grantham, Granthan, , Hanna Ziady, Abu, Adnoc, NewMed Energy’s, Gan, Marc Stewart, Wayne Chang, ByteDance, ” Wang Wenbin, Wang Organizations: CNN Business, Bell, CNN, ” Tech, Monster, Nvidia, Boston, Federal Reserve, ChatGPT, BP, UAE, United Arab Emirates, NewMed Energy, Energy, Starbucks, McDonald’s, KFC, CNN Wednesday Locations: New York, Grantham, Israel, Gaza, Tel Aviv, China, America, American, Beijing
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Hours after the US House of Representatives voted in favor of the bill by a wide margin, 352 to 65, Shou responded with a video on TikTok urging users to "make your voices heard." The rallying cry follows an earlier TikTok action that prompted users to input their ZIP code in order to identify and contact their representatives in Congress. Share them with your friends, share them with your family, share them with your senators. Over the past week, X users have responded in droves with their all-time favorite clips after @destroynectar asked, "What video is the reason they shouldn't ban TikTok?"
Persons: , Shou Chew, Shou, TikTok's, Joe Biden, @destroynectar, ITYNCTnThf, Steven Mnuchin — Organizations: Service, Business, Big Tech
New York CNN —Former Treasury Secretary Steven Mnuchin said Thursday he’s assembling a team of investors to make a bid to buy TikTok. “It’s a great business and I’m going to put together a group to buy TikTok,” Mnuchin told CNBC Thursday morning. Even though TikTok is likely unprofitable, “it’s worth a lot of money,” he added. Mnuchin, though, said he’s looking to find a solution where the Chinese government will allow TikTok to be sold without a technology transfer. Even if that happens, any kind of TikTok ban would likely be fought in courts.
Persons: Steven Mnuchin, “ It’s, ” Mnuchin, TikTok, Mnuchin, , , TikTok didn’t, Dan Ives, ” Ives, Donald Trump’s, Trump, Marjorie Taylor Greene, Nancy Mace, didn’t, Thursday’s, Joe Biden, Ives Organizations: New, New York CNN, Former, CNBC, Wedbush Securities, CNN, Liberty Strategic Capital, Facebook, Meta, Community Bank, Senate, Microsoft, Oracle Locations: New York, China, Montana
Sen. Bernie Sanders and Senate Democrats cited advances in artificial intelligence and automation Thursday as they argued for a new bill that would mandate a 32-hour federal workweek. "The sad reality is Americans now work more hours than the people of any other wealthy nation," the Vermont independent later said. The bill introduced by the committee chair Sanders and Sen. Laphonza Butler, D-Calif., would gradually reduce the standard workweek from 40 hours to 32 hours over four years. Sanders and Democrats at Thursday's hearing said that reducing the workweek would allow people to spend more time with family and on hobbies. "This would be napalm upon the fire of inflation," said Sen. Bill Cassidy of Louisiana, and the ranking Republican on the Health, Education, Labor and Pensions Committee.
Persons: Bernie Sanders, Sen, Bill Cassidy, Sanders, Laphonza Butler, Mark Takano, Jamie Dimon, Bill Gates, Chris Murphy, Conn, Bill Cassidy of, Mike Braun, Juliet Schor, Schor, Jon Leland, Leland, Liberty Vittert, Vitter, Vittert, St . Louis, Cassidy, They're Organizations: Health, Education, Labor, Pensions, Employers, Representatives, JPMorgan, Microsoft, Republican, Boston College, Washington University Locations: Dirksen, Washington , DC, Vermont, D, Bill Cassidy of Louisiana, Indiana, St .
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. While Biden seems set to do just that — he said earlier in March that he'd sign the legislation — the move could easily backfire on his already-struggling 2024 reelection campaign. Lindsay DodgsonMembers of Congress reportedly said before the vote that TikTok's push backfired, making them more likely to vote in favor of it. Related storiesWhile Biden's been on board with the proposed TikTok bill for weeks, it's increasingly seeming like a political miscalculation with the November presidential election approaching. The closer the anti-TikTok bill gets to passing, the more easily he'll be able to convince young voters that Biden's behind the app shuttering, not him.
Persons: , Joe Biden, Biden, Lindsay Dodgson, Biden's, it's, Donald Trump, Trump, Jeff Yass, gunning, Taylor Organizations: Service, Business, Republican, Biden, New York Times, Trump, White Locations: Yass
Visitors are visiting TikTok's stand at the Appliance & Electronics World Expo (AWE) in Shanghai, China, on April 27, 2023. CostFoto | Nurphoto | Getty ImagesThe U.S. could be about to force ByteDance, the Chinese tech giant that owns TikTok, to divest its U.S. business or effectively ban the app. But a sale looks unlikely — not least because China is expected to block it. Last year, the U.S. Committee on Foreign Investment in the United States (CFIUS) told ByteDance to divest TikTok or face a ban. TikTok algorithm at the centerWhat complicates a sale further is TikTok's algorithm.
Persons: ByteDance, Paul Triolo, Albright Stonebridge, CNBC's, Wang Wenbin, Shu Jueting, CFIUS, China's Shu, Triolo, Richard Windsor Organizations: Appliance, Electronics, Nurphoto, Senate, Washington, Lawmakers, Chinese Communist Party, TikTok's, China's Ministry of Foreign Affairs, NBC, U.S ., Foreign Investment, China's Ministry of Commerce, Radio Free Mobile, TikTok Locations: Shanghai, China, United States, TikTok, U.S, ByteDance, TikTok USA, USA
CNN —Sam George, the driving force behind Ghana’s harsh anti-LGBTQ legislation, portrays himself as a guardian of gay Ghanaians. Making inequality legalWhatever its origins, the bill’s passage is terrible news for LGBTQ Ghanaians. “The sentiment and emotion we are expressing right now is sadness,” said Alex Kofi Donkor, the founder of LGBT+ Rights in Ghana, an advocacy group. On one side, you have politicians like George and a broadly conservative citizenry that will publicly goad the president to act. For Ghana’s president, navigating this intricate political landscape looks set to be a daunting – and unenviable – task.
Persons: Sam George, , , It’s, ” George, George, Alex Kofi Donkor, Nana Akufo, it’s, Ghana’s Organizations: CNN, Rights, Ghana’s Ministry, Finance, Bank Financing, Monetary Fund, Bank, US State Department, Ministry of Finance Locations: Accra, Ghana, United States, Uganda, Ghanaian, “ Ghana, State
CNN —Vice President Kamala Harris went to a Planned Parenthood clinic in Minnesota on Thursday, the first time a sitting US president or vice president is believed to visit an abortion provider. The visit was a part of Harris’ efforts to highlight an issue the campaign believes will galvanize moderate voters in November. The vice president traveled to Minnesota for the sixth stop of her “Fight for Reproductive Freedoms” tour. The issue has been top of mind for the vice president, dating back to 2021, when she held a reproductive rights roundtable. The vice president has drawn on testimonials to underscore the impacts of the overturning of Roe v. Wade.
Persons: Kamala Harris, Harris, , ” Harris, she’s, Tim Walz, Biden, Joe Biden, Roe, Wade, It’s Organizations: CNN, Freedoms, Union, Minnesota’s Democratic, Biden Locations: Minnesota, Wisconsin, California , Georgia, Michigan, Arizona, president’s State, Gaza, United States
The bill would prohibit TikTok from US app stores unless the social media platform is quickly spun off from ByteDance. Some TikTok users posted videos ahead of Wednesday’s vote showing them calling their representatives and threatening to vote for alternate candidates if they voted to pass the bill. “This process was secret and the bill was jammed through for one reason: it’s a ban,” a TikTok spokesperson said in a statement following the Wednesday House vote. That may be even more true after Biden’s likely opponent in November, former President Donald Trump, said he opposed a TikTok ban, a reversal from his stance as president. App stores that violate the legislation could be fined based on the number of users of a banned app.
Persons: , Princess, Wales, TikTokkers, ByteDance, Chuck Schumer, , , Dick Durbin, Joe Biden, ” Durbin, Donald Trump, TikTok, Dan Ives Organizations: New, New York CNN, Foreign, House Energy, Commerce, Senate, Apple, Google Locations: New York, ByteDance, It’s, Montana, United States
Hong Kong/Beijing CNN —China has described a potential TikTok ban as “an act of bullying” that would backfire on America. Cybersecurity experts say that the national security concerns surrounding TikTok remain a hypothetical — albeit troubling — scenario. US officials have not publicly presented evidence that the Chinese government has accessed the user data of US TikTok users, an outcome that lawmakers say their bill is intended to prevent. In recent comments to reporters, Wisconsin Republican Rep. Mike Gallagher, who chairs a House select committee on China, rejected characterizations of the bill as a TikTok ban. “It puts the choice squarely in the hands of TikTok to sever their relationship with the Chinese Communist Party.
Persons: ByteDance, ” Wang Wenbin, Wang, , Mike Gallagher, “ It’s, TikTok, , Tiktok Organizations: Beijing CNN, CNN Wednesday, Senate, Wisconsin Republican, Chinese Communist Party, Weibo Locations: Hong Kong, Beijing, China, America, American, tatters
TikTok faces a crucial voteThe House is set to vote on Wednesday on a bill that would ostensibly present ByteDance, the Chinese owner of TikTok, with an ultimatum: sell TikTok’s U.S. operations, or have the app barred. But there’s a fight brewing over whether it’s actually possible for ByteDance to sell TikTok — or if the bill is effectively a ban disguised as a call for divestment. Does the bill allow for a sale? The proposal forbids any deal that allows TikTok’s U.S. and foreign operations to cooperate on a content recommendation algorithm or share data. While TikTok says it already walls off the data of U.S. users from its parent company, it’s not clear the company could operate without any foreign support.
Persons: it’s, ” TikTok, TikTok Organizations: TikTok’s U.S Locations: U.S, United States
What Happens Next With TikTok?
  + stars: | 2024-03-13 | by ( David Mccabe | ) www.nytimes.com   time to read: +1 min
What happens next with TikTok? Next, the bill is heading to a skeptical Senate, after which President Biden would need to sign it into law. What happens next in the legislative process? The bill needs to be approved by the Senate, which could also make changes to the text of the legislation. For example, because the bill’s text explicitly names TikTok and ByteDance, some are worried it could violate a part of the Constitution that bars Congress from targeting specific entities with legislation.
Persons: Biden, Chuck Schumer, hasn’t Organizations: Senate, Democratic Locations: New York
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSen. Ted Cruz: My objective is to eliminate the Chinese government's control and power over TikTokSen. Ted Cruz (R-Texas) joins 'Squawk Box' to discuss his thoughts on the TikTok ban bill in the House, whether the bill can garner enough support in the Senate, TikTok's ties to the Chinese government, what concerns him the most about the social media app, and more.
Persons: Email Sen, Ted Cruz, TikTok Sen, TikTok's Organizations: Email, Senate Locations: Texas
"Fixed income returns, by contrast, come almost entirely from coupon payments, which can be taxable at the highest rates." You may also want to think about where you're holding these fixed income assets. The fourth step to save on taxes: Consider whether a buyback ETF or a dividend ETF is right for you. Woodard recently highlighted the iShares Core Dividend ETF (DIVB) and the Invesco BuyBack Achievers ETF (PKW) as buyback plays. He also noted that true income investors may want to go with dividend funds, including Schwab US Dividend Equity ETF (SCHD) and Vanguard High Dividend Yield ETF (VYM) .
Persons: It's, Jared Woodard, Woodard, buybacks, they're, DIVB, PKW, SCHD, VYM, Morningstar Organizations: Bank of America, Taxpayers, Schwab, Equity, Vanguard, & ' $
The House overwhelmingly passed a bill on Wednesday that could lead to TikTok being banned. 50 Democrats and 15 Republicans voted against it. AdvertisementThe House of Representatives overwhelmingly passed a bill on Wednesday that could lead to TikTok being banned in the United States. The "Protecting Americans from Foreign Adversary Controlled Applications Act" easily cleared the chamber by a lopsided 352-65 vote, with 50 Democrats and 15 Republicans voting against the bill. @RepMTG on TikTok bill: "I rise today as the only member of Congress that has ever been banned by social media...Twitter banned me..
Persons: Jasmine Crockett, , ByteDance, Abigail Spanberger, Raja Krishnamoorthi, weren't, Alexandria Ocasio, Mark Pocan, Maxwell Frost of Florida, Frost, Krishnamoorthi, Donald Trump, backhandedly, Marjorie Taylor Greene, Mark Zuckerberg, Joe Biden's, Andy Biggs, Arizona Dan Bishop of, Carolina Warren Davidson of Ohio John Duarte, California Matt Gaetz, Florida Marjorie Taylor Greene, Georgia Clay Higgins, Nancy Mace, Carolina Thomas Massie, Tom McClintock, California Alex Mooney, West Virginia Barry Moore, Alabama Scott Perry, David Schweikert, Arizona Greg Steube Organizations: Democratic, Service, Foreign, Energy, Commerce, Facebook, Republican, Twitter Locations: United States, Texas, Virginia, Beijing, Illinois, Alexandria, Cortez, Wisconsin, Georgia, Carolina, California, Florida, West, Arizona
The House is expected to vote Wednesday on a bill that could lead to a nationwide ban against TikTok, a major challenge to one of the world’s most popular social media apps. Lawmakers on both sides of the aisle who support the bill have argued that it is not a ban. In recent comments to reporters, Wisconsin Republican Rep. Mike Gallagher, who chairs a House select committee on China, rejected characterizations of the bill as a TikTok ban. “This legislation has a predetermined outcome: a total ban of TikTok in the United States,” the company wrote in a post on X. Senate Majority Leader Chuck Schumer on Tuesday would not commit to holding a vote on the House’s TikTok bill, underscoring the uncertainty over what will happen if the House passes the bill as expected.
Persons: Donald Trump, equivocated, TikTok, It’s, Joe Biden, Trump, Mark Zuckerberg, ” Trump, , Mike Gallagher, “ It’s, , Shou Chew, Chuck Schumer, CNN’s Kate Sullivan, Morgan Rimmer, Lauren Fox Organizations: TikTok, ByteDance, Apple, Google, House Energy, Commerce Committee, Facebook, CNBC, Lawmakers, Wisconsin Republican, Chinese Communist Party Locations: China, Beijing, Washington, United States
A bipartisan bill to expand the child tax credit and reinstate a set of business tax breaks has stalled in the Senate after winning overwhelming approval in the House, as Republicans balk at legislation they regard as too generous to low-income families. The delay of the $78 billion tax package has imperiled the measure’s chances and reflects the challenges of passing any major legislation in an election year. Enacting a new tax law would give President Biden and Democrats an achievement to campaign on, something that Republicans may prefer to avoid. The package, which would be in effect through 2025, would expand the child tax credit and restore a set of tax breaks related to business research costs, capital expenses and interest. It would also include a boost to a tax credit encouraging the development of low-income housing, tax relief for disaster victims and tax breaks for Taiwanese workers and companies operating in the United States.
Persons: balk, Biden Organizations: Republican, Senate Locations: United States
China on Wednesday condemned U.S. lawmakers’ push to force the Chinese parent company of TikTok to sell the popular short video platform. Lawmakers say that Beijing could use TikTok to spread Chinese Communist Party messages or gain access to sensitive data about TikTok’s American users. Beijing rejected concerns that the app was a danger to the United States. China has opposed previous efforts in the United States to force ByteDance to give up TikTok. The fervor over the House bill is the latest episode in a yearslong saga over the app’s future in the United States.
Persons: TikTok, , Wang Wenbin, ByteDance Organizations: Wednesday, U.S, Communist Party Locations: China, Washington, Beijing, United States, U.S
Back in New York, Rosalind said she was active with her friends, playing tennis and pickleball at a local club. To attempt to find other social connections, Rosalind said she's taken up playing bridge, participating in a book club, and attending local plays. While moving to a new place can be an isolating experience for anyone, loneliness tends to hit older adults especially hard. Advertisement"The most important thing in life is family and then friends," Rosalind said. 'It's not an easy road'After spending over 80 years in New York, Rosalind said she's still getting used to the quieter life in Florida.
Persons: Rosalind, Rosalind —, , she's, She's, Vivek Murthy, there's, they're, Maria Maki, Democratic Sen, Chris Murphy, Bob Casey, Murphy, Rosalind isn't Organizations: Service, Democratic Locations: New York, Florida, York, Minnesota
The House approved a bill Wednesday that calls for China tech giant ByteDance to divest TikTok or the popular social video app will effectively be banned in the U.S. The measure passed with a resounding 352-65 vote and with one member voting present. Two days later, House members on the Energy and Commerce Committee voted unanimously to approve the bill, which refers to TikTok as a threat to national security because it is controlled by a foreign adversary. The bill now heads to the Senate where it faces an uncertain future as senators appear divided about the legislation, and other federal and state-led efforts to ban TikTok have stalled. "This process was secret and the bill was jammed through for one reason: it's a ban," a TikTok spokesperson said after the vote was passed.
Persons: Mike Gallagher, Raja Krishnamoorthi, Joe Biden, Karine Jean, Pierre, Jean Organizations: U.S, Foreign, Chinese Communist Party, Energy, Commerce, White Locations: China, TikTok
As House lawmakers prepare to vote on the bill Wednesday, TikTok is encouraging users to call their representatives with a full-screen notification about the legislation. Okamoto’s TikTok account features videos on women’s health, sex education and the occasional glimpse into her personal life. Her sisters are TikTok creators in their own right, one of whom is using her income from TikTok to pay her own way through college, Okamoto said. It’s so tired,” said Grey Prnce, who together with her spouse, Grayson France, co-manages the TikTok account @officiallyverygay. Thus was born @Got2GoNYC, a TikTok account that aims to map all the publicly accessible toilets in the city.
Persons: Washington CNN — TikTok, TikTok, Shou Chew, Nadya Okamoto, Okamoto, She’s, , ” Okamoto, it’s Chew, , Grey Prnce, Grayson France, Teddy Siegel, Siegel, ducking, @Got2GoNYC, ” Siegel, it’s, Prnce Organizations: Washington CNN, Target, CNN, Chinese Community Party Locations: China, Beijing, United States, New York City, Utah, Salt Lake City
A new bill would make Chinese-owned ByteDance sell TikTok to a US company or face a nationwide ban. Those who want the app banned argue that TikTok may be forced into giving over user data to the Chinese government. The whole TikTok ban is clearly a tactic to control the narrative." AdvertisementA ban would be "devastating" for her, she said, because years of her work would be "deleted forever." A TikTok spokesperson told Business Insider the legislation has a "predetermined outcome," which is a total ban of TikTok in the US.
Persons: , TikTok, Shira, aren't, She's, Ben Stanley, hasn't, Tahrea Sherman, Sherman, Catalina Goanta, Goldman Sachs, Goanta Organizations: Service, Energy, Commerce, Google, Utrecht University Locations: Congress, TikTok, Netherlands, Statista
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