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Read previewDigital regulators in Europe are clamping down on a new feature by TikTok that rewards users for consuming videos and interacting with creators, citing addiction concerns among children. The European Commission said on Monday that it had opened formal proceedings against TikTok Lite, a spinoff version of the TikTok app that uses less mobile data and launched in Spain and France in March. Users can earn such points on the Lite app by watching videos for up to 85 minutes daily. "We suspect TikTok 'Lite' could be as toxic and addictive as cigarettes 'light,'" said Thierry Breton, commissioner for the internal market in the EU. "The TikTok Lite rewards hub is not available to under 18s, and there is a daily limit on video watch tasks," the spokesperson said.
Persons: , TikTok, Thierry Breton, Tiktok, TikTok didn't, Breton, it's Organizations: Service, European, Business, AFP, Digital Services Locations: Europe, Spain, France, EU
Federal Trade Commission Chair Lina Khan testifies before a House Judiciary Committee hearing on Oversight of the Federal Trade Commission, on Capitol Hill in Washington, D.C., July 13, 2023. The Federal Trade Commission on Tuesday voted 3-2 for a nationwide ban against noncompete agreements, which companies use to prevent employees from taking jobs with competitors in the same industry. The FTC estimates that 30 million American workers, or roughly 18%, are currently subject to a noncompete. The FTC initially proposed the noncompete ban in January 2023. Meanwhile, business trade groups claim that noncompetes help preserve intellectual property and company secrets.
Persons: Lina Khan, Joe Biden, Joe Biden's, Biden Organizations: Federal Trade, Federal Trade Commission, Capitol, Washington , D.C, Federal, U.S . Chamber of Commerce, Workers, FTC, Department, DOJ Locations: Washington ,, U.S
Just after 2 p.m. last Wednesday, Nemat Shafik, the president of Columbia University, stepped out of an office building on Capitol Hill and into an idling black SUV. She had just endured an intense grilling by a congressional committee investigating antisemitism on elite college campuses. For a university trying to reassure Congress that it was getting its campus under control, the timing could scarcely have been worse. The secretive deliberations that followed over 24 frantic hours have sent Columbia into a crisis over free speech and safety unlike any the campus has seen since 1968. The events also set off a chain reaction rattling campuses across the country, just as one of the most trying academic years in memory neared its end.
Persons: Nemat Shafik, Shafik Organizations: Columbia University, Palestinian Locations: Columbia
CNN —Former New York Rep. George Santos, who was expelled from the House and is facing federal charges, announced Tuesday that he is withdrawing his bid for Congress in New York’s 1st District. The future holds countless possibilities and I am ready willing and able to step up to the plate and go fight for my country at anytime,” Santos said. The announcement comes roughly a month after Santos said he was leaving the Republican Party and would make his congressional comeback bid as an independent. The former congressman became the sixth lawmaker ever to be expelled from the House in December 2023. It’s only goodbye for now, I’ll be back,” Santos said.
Persons: George Santos, Santos, Nick LaLota, , , ” LaLota, ” Santos, MAGA, ” “, It’s, I’ll Organizations: CNN, Former New York Rep, New York’s, Congressional District, GOP, Dems, Republican Party, Trump, Capitol Locations: New York’s, Long
How the Senate Voted on Foreign Aid to Ukraine, Israel and TaiwanThe Senate on Tuesday passed the long-stalled $95.3 billion package of aid to Ukraine, Israel and Taiwan, along with legislation that could lead to a ban on TikTok, clearing the measure and sending it to President Biden for his signature. Total Bar chart of total votes Yes 0 0 0 0 Votes needed No 0 0 0 0 Note: Three senators did not vote. The measure includes $60.8 billion for Ukraine; $26.4 billion for Israel and humanitarian aid for civilians in conflict zones, including Gaza; and $8.1 billion for the Indo-Pacific region. It took Mr. Johnson two additional months to figure out a way to steer around his right flank and do so. The TikTok provision was included as part of an effort to sweeten the deal for conservatives.
Persons: Biden, Mike Johnson, Donald J, Trump, Johnson Organizations: Foreign Aid, Senate, Dem, Capitol, Republicans, Lawmakers Locations: Ukraine, Israel, Taiwan, Gaza, Iran, United States, Beijing
Leon Cooperman, a billionaire Columbia donor, weighed in on the crisis on the university's campus. Unlike the megadonor Robert Kraft, Cooperman said he's not pulling his donations. AdvertisementThe Wall Street titan Leon Cooperman is the latest billionaire to weigh in on student protests over Israel's war in Gaza. But unlike the megadonor Robert Kraft, Cooperman said he'd continue to give to Columbia even as he trashed student demonstrators. Kraft said he'd continue to support the school's Kraft Center for Jewish Student Life, which is named after him.
Persons: Leon Cooperman, Robert Kraft, Cooperman, he's, , he'd, Israel, Turkey —, Nemat, Shafik, Peace —, Goldman Sachs, Kraft, megadonors, Marc Rowan, Lauder, Ronald Lauder, Les Wexner, Claudine Gay, Liz Magill Organizations: Service, CNBC, Columbia University, Columbia, Hamas, Capitol, — Columbia, Apartheid, Columbia Students, Justice, Jewish, Peace, New York City Police Department, Barnard College, Columbia Business School, Hunter College, Kraft, Patriots, school's Kraft Center for Jewish, Cooperman, Yale, New York University, Harvard, University of Pennsylvania Locations: Columbia, Gaza, Cooperman, Bronx, Israel, United States, Cyprus, Jordan, Turkey, Palestine
CNN —The Senate will take up the House-passed $95 billion foreign aid package this week, as the legislation nears its final congressional action after both sides of Capitol Hill have struggled for months to send aid to Ukraine, Israel and Taiwan. The legislation ties together four bills that the House voted on separately in a rare Saturday session, providing nearly $61 billion in aid for Ukraine, over $26 billion for Israel and more than $8 billion for the Indo-Pacific. Aid for Ukraine and Israel has been stalled after House and Senate Republicans demanded action on border security first, leading to months of negotiations in the Senate on a border package tied to foreign aid. “The Senate now stands ready to take the next step,” Senate Majority Leader Chuck Schumer declared Saturday afternoon. Senators were supposed to be in recess this week, marking the Passover holiday, but they elected to return and wrap up work on the foreign aid package instead.
Persons: Joe Biden, Mike Johnson, Johnson, Donald Trump, , Chuck Schumer Organizations: CNN, Capitol, Republicans, Senate, New, New York Democrat, Senators Locations: Ukraine, Israel, Taiwan, American, New York, America
Finally, President Biden had good news to share with President Volodymyr Zelensky of Ukraine. For a grateful Mr. Zelensky, the timing was propitious. A Russian missile attack, he told Mr. Biden, had just destroyed the television tower in Kharkiv. The House passage of a landmark $95 billion foreign aid package gives Mr. Biden much-needed momentum at a time when his credibility and American leadership have been questioned on the world stage. “This was a historic win for President Biden and for America’s global leadership,” Senator Chris Van Hollen, Democrat of Maryland, said in an interview.
Persons: Biden, Volodymyr Zelensky, Zelensky, , Mr, Chris Van Hollen Organizations: Ukraine, Capitol Locations: Ukraine, Wilmington, Del, States, Russian, Kharkiv, Israel, Taiwan, Maryland
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailContaining the Middle East crisis: Inside Iran and Israel's attacksMichael O’Hanlon, Brookings Institution senior fellow, joins 'Squawk Box' to discuss the latest developments in the Middle East, efforts by the Biden administration to contain the Middle East crisis, what's next in the Israel-Hamas war, impact of the $95 billion foreign aid package on Capitol Hill, and more.
Persons: Michael O’Hanlon, Biden, what's Organizations: Brookings Institution, Capitol Locations: Iran, Israel
What to know about the TikTok ban bill the House passed
  + stars: | 2024-04-20 | by ( Brian Fung | ) edition.cnn.com   time to read: +6 min
CNN —House lawmakers have once again passed legislation that could lead to a nationwide TikTok ban, renewing a massive threat to the company’s US operations. In March, House lawmakers approved a bill that would give TikTok roughly six months to sell. Another factor that’s shaking things up is how House Republicans inserted the TikTok bill into a much larger foreign aid package. Biden endorsed the prior version of the TikTok bill, which suggests he may quickly sign any foreign aid package that includes similar language targeting TikTok. In addition to complying with the legislation, TikTok could challenge it in court and has made no secret that it might do so.
Persons: TikTok, Joe Biden, there’s, who’ve, Washington Democratic Sen, Maria Cantwell, Paul Gallant, Cowen, Gallant, Joe Biden’s, Biden, , Shou Chew, , Nadine Farid Johnson, ByteDance Organizations: CNN —, White, Washington Democratic, Republicans, House, Senate, Inc, Columbia University, , TikTok Locations: United States, Ukraine, Israel, China
Democrats build financial edge in battle for the House
  + stars: | 2024-04-19 | by ( David Wright | ) edition.cnn.com   time to read: +4 min
Meanwhile, a pair of super PACs aligned with the House leadership of both parties also announced their most recent quarterly fundraising totals this week, showing Democrats with another advantage. House Majority PAC, the Democratic super PAC, said that, along with its affiliated organization, House Majority Forward, it had raised $37 million in the quarter for Democrats’ House effort. Adding to the pressure, House Republicans are still dealing with the fallout from leadership fights as they seek to defend their razor-thin majority. Meanwhile, a conservative dark money group, American Prosperity Alliance, launched new ads this week targeting three House Republicans who had voted to oust McCarthy, slamming their voting records. House Majority PAC, the lead Democratic super PAC, announced earlier this month plans to spend $186 million on advertising campaigns targeting a series of key battleground races.
Persons: outraising, outraised, Mike Johnson, Kevin McCarthy, Johnson, McCarthy, – Johnson, Marjorie Taylor Greene, Greene Organizations: CNN, US, Representatives, GOP, Democrats ’, Democratic Congressional, Committee, Republican, National Republican Congressional Committee, PAC, Democratic, Congressional, Fund, American Action Network, Republicans, House Republicans, Capitol, Capitol Hill . Rep, Marjorie Taylor Greene of, American Prosperity Alliance Locations: California, New York, Capitol Hill, Marjorie Taylor Greene of Georgia, Ukraine, Israel
Time running out for TikTok? How a ban could impact tech
  + stars: | 2024-04-19 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTime running out for TikTok? How a ban could impact techAneesh Chopra, CareJourney president and former White House Chief Technology Officer, joins 'Squawk Box' to discuss the state of the TikTok bill on Capitol Hill, the impact of a possible TikTok ban or forced divestment if the legislation is passed, and more.
Persons: Aneesh Chopra Organizations: White House Chief Technology, Capitol
TikTok more than doubled its ad spend to over $4.5 million in a campaign to combat a potential U.S. ban as Congress looks to fast-track legislation to push parent company ByteDance to divest the social media app. TikTok has spent over $2.5 million on television ads alone since March, according to data from AdImpact. The popular social media company has spent almost $900,000 on digital advertisements, according to the data. The data from AdImpact in late March showed TikTok initially purchased $2.1 million in advertising. TikTok's boosted ad spend could act as a last stand as the new bill appears to have key support in the Senate.
Persons: Giovanna Gonzalez, TikTok, Joe Biden Organizations: U.S, Capitol, Foreign Locations: Chicago, Washington , U.S, AdImpact, Ukraine, Israel, TikTok
"Child care is core to enabling women to work," she said. She explained that if she stayed in her career, her entire post-tax pay would have gone to child care, and all of the child care providers in her area were waitlisted. I didn't really go through this, so how many people are really thinking child care is an issue? "If you want a strong economy, women have to participate and in order for that to happen, we need strong child care," she said. Raimondo noted that half of Americans live in a "child care desert," with not enough services available at a cost that is affordable.
Persons: Gina Raimondo, Joe Biden, Raimondo, , CNBC's Sara Eisen, Jessica Chang, Chang, CNBC's Julia Boorstin, We've, it's Organizations: Semiconductors, America, White, Capitol, U.S, Samsung, CNBC's, Changemakers, U.S . Army, CNBC Changemakers, Boston Consulting Group, U.S . Chamber of Commerce, Commerce Department Locations: WASHINGTON, DC, Washington ,, Rhode, U.S, Texas, Korean, New York City, Korea
CNN —CIA Director Bill Burns on Thursday warned that unless US sends more military support, Ukraine could “lose” the war against Russia by the end of the year. His comments mark one of the starkest warnings to date from the Biden administration on the stakes in Ukraine as Congress debates whether to approve a long-delayed aid package to Kyiv. In an effort to satisfy divided factions of the GOP, some of whom support and some of whom oppose aid for Ukraine, he has split the legislation into separate bills and the Ukraine aid portion is expected to come up for a vote on Saturday night. That would still be deemed “a loss.”Burns detailed the dire need for basic ammunition that Ukraine faces on the battlefield. He recounted two battalions — 2,000-plus man units — that had “15 artillery rounds per day” and “a grand total of 42 mortar rounds,” respectively.
Persons: Bill Burns, , Biden, Burns, , George W, ” Burns, , Putin, Mike Johnson Organizations: CNN, CIA, US, Senate Intelligence Committee, — “, Bush, Israel, GOP, Ukraine Locations: Ukraine, Russia, Kyiv, — “ Ukraine, Israel, Moscow, Crimea, Ukrainian, Russian
In 2009, long before Jeff Yass became a Republican megadonor, his firm, Susquehanna International Group, invested in a Chinese real estate start-up that boasted a sophisticated search algorithm. Behind the scenes, employees of a Chinese subsidiary of Mr. Yass’s firm were so deeply involved, records show, that they conceived the idea for the company and handpicked its chief executive. They said in one email that he was not the company’s “real founder.”As a real estate venture, 99Fang ultimately fizzled. They say that 99Fang’s chief executive — and the search technology — resurfaced at another Susquehanna venture: ByteDance. ByteDance, the owner of TikTok, is now one of the world’s most highly valued start-ups, worth $225 billion, according to CB Insights, a firm that tracks venture capital.
Persons: Jeff Yass, Republican megadonor, 99Fang, Yass’s, , Zhang Yiming Organizations: Republican, Susquehanna International Group, Mr, Susquehanna Locations: ByteDance
The House voted Friday in a bipartisan manner to advance a key foreign aid package, a significant step in sending aid to Ukraine and Israel and setting up a final vote as soon as Saturday. The move is likely to further inflame conservatives who are against additional aid to Ukraine and have threatened Johnson’s job over the issue. The committee activity capped off another contentious day on Capitol Hill as the renewed push to send foreign aid to Ukraine has divided House Republicans. Three bills in the foreign aid package would provide aid for Ukraine, Israel and the Indo-Pacific region, with the latter intended to help deter Chinese aggression in the area. The three assistance bills are similar to the foreign aid legislation that passed the Senate in February.
Persons: Mike Johnson’s, Johnson, Thomas Massie, Marjorie Taylor, Greene, Republicans – Massie, Ralph Norman of, Chip Roy, Texas –, , , CNN’s Haley Talbot, Katie Lobosco, Tami Luhby, Brian Fung Organizations: Democratic, GOP, Republicans, CNN, Caucus Locations: Ukraine, Israel, Ralph Norman of South Carolina, Texas, Iran
The president of Columbia said the university had suspended 15 students. She promised that one visiting professor “will never work at Columbia again.”And when she was grilled over whether she would remove another professor from his leadership position, she appeared to make a decision right there on Capitol Hill: “I think I would, yes.”The president, Nemat Shafik, disclosed the disciplinary details, which are usually confidential, as part of an all-out effort on Wednesday to persuade a House committee investigating Columbia that she was taking serious action to combat a wave of antisemitism following the Israel-Hamas war. In nearly four hours of testimony before the Republican-led Committee on Education and the Workforce, Dr. Shafik conceded that Columbia had initially been overwhelmed by an outbreak of campus protests. But she said its leaders now agreed that some had used antisemitic language and that certain contested phrases — like “from the river to the sea” — might warrant discipline.
Persons: , Nemat Shafik, Shafik Organizations: Columbia, Republican, Education, Workforce Locations: Israel
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSen. Blumenthal on Boeing whistleblower testimony: Company is really at a moment of reckoningSenate Homeland Security Permanent Subcommittee on Investigations Chairman Sen. Richard Blumenthal (D-Conn.) joins 'Squawk Box' to preview the testimony of a Boeing whistleblower on Capitol Hill today, Boeing's quality control issues, FAA's oversight lapses, and more.
Persons: Email Sen, Blumenthal, Sen, Richard Blumenthal Organizations: Email, Boeing, Senate Homeland Security, Capitol
Boeing 's safety and quality were under fire again in two Senate hearings on Wednesday as the manufacturer faces mounting scrutiny after a midair door blowout and near catastrophe on one of its planes in January. A Boeing engineer-turned-whistleblower testified before a Senate panel, reiterating his allegations that the planemaker cut corners to move wide-body planes through the production line, despite flaws. "I believe that Boeing can do better and that the public's trust in Boeing can be restored," he said in prepared remarks to the Senate Homeland Security committee ahead of the hearing "Examining Boeing's Broken Safety Culture: Firsthand Accounts." New plane deliveries from Boeing have slowed as the Federal Aviation Administration ramps up its scrutiny on the company's production lines. A separate hearing, before the Senate Commerce Committee on Wednesday, addressed Boeing's safety culture after a report issued earlier this year from an expert panel ordered by Congress found a "disconnect" between Boeing's senior management and other members of the organization on safety culture.
Persons: Richard Blumenthal, Sam Salehpour, shim, Scott Kirby, CNBC's, Dave Calhoun Organizations: Boeing, Senate Homeland Security, Governmental, Investigations, Senate Homeland, United Airlines, Max, Alaska Airlines, Federal Aviation Administration, Senate, Congress Locations: Washington ,
If there was any doubt before, Federal Reserve Chair Jerome Powell has pretty much cemented the likelihood that there won't be interest rate reductions anytime soon. Now, Wall Street is wondering if the central bank will cut at all this year. "My sense is they need two, probably three consecutive months of inflation numbers that are consistent with that 2% target. Market pricing for rate cuts has been highly volatile in recent weeks as Wall Street has chased fluctuating Fed rhetoric. As for a second rate cut, there was a tilt toward one in December, but that remains an open question.
Persons: Jerome Powell, Powell, there's, They've, Mark Zandi, Zandi Organizations: Financial, Moody's, Fed Locations: Washington , U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBoeing makes safe aircraft, and the data supports it: Gabelli's Tony BancroftTony Bancroft, portfolio manager at Gabelli Funds, joins 'Power Lunch' to discuss the Boeing whistleblower on Capitol Hill and how it may impact the airline industry.
Persons: Tony Bancroft Tony Bancroft Organizations: Boeing, Gabelli, Capitol
Homeland Security Secretary Alejandro Mayorkas testifies before the House Homeland Security Committee about the Biden Administration's FY2025 budget request in the Cannon House Office Building on Capitol Hill on April 16, 2024 in Washington, DC. Senators voted to dismiss both articles of impeachment and end the trial, with Democrats arguing that the articles were unconstitutional. Still, Republicans similarly moved to dismiss former President Donald Trump's second impeachment trial in 2021, weeks after the Jan. 6, 2021, attack on the Capitol. Johnson had said he would send them to the Senate last week, but he punted again after Senate Republicans said they wanted more time to prepare. The impeachment trial is the third in five years.
Persons: Alejandro Mayorkas, Joe Biden, impeaching Mayorkas, Mike Johnson, Mayorkas, Schumer, Chuck Schumer, William McFarland, Kevin F, Mark Green, Marjorie Taylor Greene, Michael McCaul, Clay Higgins, Ben Cline, Andy Biggs, Michael Guest, Laurel Lee, Harriet Hageman, Andrew Garbarino, Pfluger, Democratic Sen, Patty Murray, Murray, Missouri Sen, Eric Schmitt, Mitch McConnell, McConnell, Donald Trump's, McConnell —, Trump, Johnson, he's, I'm, Joe Biden's, Donald Trump Organizations: Homeland, House Homeland Security, Biden, Cannon, Republicans, House Republicans, Democrats, , Republican, of Homeland, Democratic, National Archives, Capitol, Senate, Democrat, Tennessee Rep, Congress Locations: Washington , DC, Mexico, U.S, WASHINGTON, Texas, Washington, Missouri, Ky, New York, New York City, Ukraine, Mayorkas
Washington DC CNN —Boeing’s already battered reputation took another hit at two Senate committee hearings Wednesday on Capitol Hill, with witnesses questioning how the company builds airplanes and the safety of those planes. Boeing did not have any witnesses at either hearing Wednesday, but at a briefing earlier this week it defended the standards used to build planes. Boeing recently said it has searched for records but believes its employees did not document the work. Bill Clark/CQ Roll Call/SipaHe said that since the hearing was announced, his committee has heard from other whistleblowers inside of Boeing. “What I don’t want this committee to do is to scare the you-know-what out of the American public,” he said.
Persons: Washington DC CNN — Boeing’s, Sam Salehpour, he’s, , Salehpour, , don’t, , Ed Pierson, Max, Democratic Sen, Richard Blumenthal, Bill Clark, ” Blumenthal, Republican Sen, Ron Johnson Organizations: Washington DC CNN, Capitol, Boeing, The Foundation for Aviation Safety, National Transportation Safety, Alaska Airlines, Alaska Air, Democratic, Richard Blumenthal of Connecticut, Senate Homeland Security, Governmental, Republican Locations: Richard Blumenthal of, Dirksen, nonunion South Carolina, Alaska, Wisconsin
Columbia University President Minouche Shafik tried to avoid the firestorm of controversy that pushed out two of the three university presidents who testified on Capitol Hill in December. While the other university presidents provided lawyerly answers that went viral, Shafik and her three Columbia colleagues all unequivocally stated that such calls would violate the code of conduct at Columbia. For instance, the Columbia president was asked by Rep. Lisa McClain whether mobs shouting “from the river to the sea” or “long live the intifada” qualify as antisemitic comments. Some people don’t.”Only after David Schizer, the co-chair of Columbia’s task force on antisemitism, indicated it would qualify as antisemitism did Shafik agree. Davidai called Shafik a “coward” in a fiery speech last year criticizing the university president for failing to quiet “pro-terror” voices at the school.
Persons: Minouche Shafik, Shafik, Shafik waffled, Lisa McClain, McClain, , David Schizer, ” Shafik, Joseph Massad, Tim Walberg, Massad, Mohamed Abdou, Shai Davidai, Davidai, , Abdou, Eden Yadegar, CNN’s Elisabeth Buchwald Organizations: New, New York CNN, Ivy League, Columbia University, Harvard, Massachusetts Institute of Technology, University of Pennsylvania, Columbia, , CNN, Columbia Business School Locations: New York, Columbia
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