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☆ A Senate hearing with top tech CEOs about online child safety had plenty of fireworks
▼ + stars: | 2024-02-01 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In today's big story, we're looking at the grilling tech CEOs got during a contentious Senate hearing, with one notable exception. The big storyTech on trialAnna Moneymaker/Getty ImagesTech CEOs testified in a Senate hearing that turned into the type of fiery debates found on their social-media platforms. Executives for Meta, TikTok, X, Snapchat, and Discord were grilled by US lawmakers during a contentious Senate hearing on online child sexual exploitation. The most shocking moment involved Meta CEO Mark Zuckerberg, BI's Lauren Steussy reports.

Persons: —, we're, Anna Moneymaker, Aaron Mok, Camilo Fonseca, Mark Zuckerberg, BI's Lauren Steussy, GOP Sen, Josh Hawley, Zuckerberg, Shou Zi Chew, Republican Sen, Tom Cotton, Linda Yaccarino, Alex Wong, Chew, X's Yaccarino, BI's Katie Notopoulos, Yaccarino, Katie, It's, there's, Sen, Lindsey Graham, We've, Jerome Powell, Win McNamee, Troy Rohrbaugh, Jamie Dimon, it's, Jeff chiu, Alyssa Powell, Byron Allen, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb Organizations: Business, Service, Tech, Getty Images Tech, Meta, GOP, Republican, Chinese Communist Party, Pew, Big Tech, Federal Reserve, Paramount, Getty, Apple Locations: Washington, Washington ,, New York, London

Morgan Stanley raised its price target on General Motors. 6:56 a.m.: Morgan Stanley calls Bloom Energy a 'secular winner' Morgan Stanley reiterated its overweight rating on Bloom Energy , naming it an underappreciated AI beneficiary. The firm also maintained its $22 price target on shares, which suggests shares surging more than 94% from where they closed on Wednesday. — Hakyung Kim 6:14 a.m.: Morgan Stanley steps to the sidelines on ZoomInfo ZoomInfo Technologies is "unlikely to zoom into a recovery," according to Morgan Stanley. — Hakyung Kim 5:40 a.m.: Morgan Stanley raises GM price target A focus shift back to internal combustion engine vehicles can give General Motors another jolt higher, according to Morgan Stanley.

Persons: Morgan Stanley, Andrew Percoco, — Hakyung Kim, Antonio Reale, Reale, Hakyung Kim, Elizabeth Porter, Porter, Richard Choe, Choe, Jefferies, NYCB, Jon Arfstrom, Arfstrom, Christopher Danely, Danely, Bank of America's Tal Liani, Liani, Samik Chatterjee, Chatterjee, Adam Jonas, Jonas, — Fred Imbert Organizations: CNBC, General Motors, Qualcomm, Citi, Bloom, Bloom Energy, Bank of America, Santander Santander, Santander, ZoomInfo, JPMorgan, T, RBC, New York, Bancorp New, Bancorp New York Community, Bank, NYCB, Citi Citi, chipmaker Qualcomm, Samsung, Bank of America's, GM Locations: Spanish, Spain, Santander, Europe, U.S, Wednesday's, Bancorp New York

☆ GOP senator asks TikTok's CEO over and over if he's Chinese. He's Singaporean.
▼ + stars: | 2024-01-31 | by ( Lauren Steussy | ) www.businessinsider.com time to read: +2 min

During Wednesday's tense congressional testimony over online safety for children, Sen. Tom Cotton repeatedly asked Singaporean TikTok CEO Shou Zi Chew if he's ever been a part of the Chinese Communist Party. An increasingly agitated Chew, who's no stranger to US politicians' prodding, tried repeatedly to shut down the line of questioning by telling the conservative senator that he's Singaporean. "Senator, I'm Singaporean, no," Chew responded. Chew was joined by four other social media companies' CEOs Wednesday for a combative hearing on protecting children online in the Senate Judiciary Committee. Zaveri put it this way:The rhetoric at times seemed to paint the Chinese people with a broad brush and conflated people of Chinese ancestry with the will of the CCP.

Persons: Sen, Tom Cotton, Shou Zi Chew, he's, Chew, Cotton, Jamie MacEwan, MacEwan, Paayal Zaveri, Zaveri, bungled Organizations: Chinese Communist Party, Business, Enders Analysis, Committee, Energy, Commerce, CCP Locations: China, Beijing

☆ Lawmakers rip into tech CEOs at Senate hearing on online child sexual exploitation
▼ + stars: | 2024-01-31 | by ( Aaron Mok | Camilo Fonseca | ) www.businessinsider.com time to read: +5 min

US lawmakers grilled CEOs from tech giants on their platform's online safety practices. Senators appeared to be bullish on whether the tech CEOs support their proposed laws. AdvertisementUS lawmakers grilled tech CEOs about their companies' online safety practices during this week's Senate Judiciary Committee hearing on online child sexual exploitation. During the hearing, which kicked off on Wednesday, US lawmakers were seen interrogating CEOs at tech giants like Meta, TikTok, and X on how they run their platforms and keep them safe. Advertisement"I hope you hear what is being offered to you and are prepared to step up and do better," Butler told the Meta CEO.

Persons: —, Sen, Lindsey Graham, there's, Graham, X's Linda Yaccarino, Snapchat's Evan Spiegel, –, Ted Cruz, Mark Zuckerberg, Zuckerberg, Cruz, – Zuckerberg, Shou Zi Chew, ByteDance, Chew, Cruz didn't, Tom Cotton, Richard Blumenthal, Blumenthal, California Sen, Laphonza Butler, Meta, Butler Organizations: Service, Meta, Chinese Communist Party Locations: China, Connecticut, California

☆ Big Tech CEOs are headed to DC to face the Senate over child safety online
▼ + stars: | 2024-01-31 | by ( Lauren Steussy | ) www.businessinsider.com time to read: +3 min

Congress is set to grill leaders from Meta, X, TikTok, and other tech companies in a hearing Wednesday. The session will cover efforts to protect children from sexual exploitation online. This will be X CEO Linda Yaccarino's first time testifying before Congress. AdvertisementTech leaders are arriving in Washington, DC, voluntarily or not, to answer for their platforms' efforts to protect kids from sexual exploitation. Over the weekend, X announced plans to hire 100 full-time workers for a yet-to-be-opened content moderation hub in Austin aimed at addressing child sexual exploitation on its platform.

Persons: Linda Yaccarino's, —, X —, Elon Musk, Axios, She'll, Mark Zuckerberg, Evan Spiegel, TikTok, Shou Zi Chew, Jason Citron, Meta, We're, X Organizations: Meta, Service, Tech, Elon, Wall, Journal, The New York Times, Times Locations: Washington , DC, Austin

☆ Linda Yaccarino and X got off easy at the Senate hearing
▼ + stars: | 2024-01-31 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +1 min

At the Senate hearing on child exploitation and social media, X CEO Linda Yaccarino wasn't grilled like her peers. Most of the focus was on Meta CEO Mark Zuckerberg and TikTok CEO Shou Zi Chew. Yaccarino said that less than 1% of X users in the US are under the age of 18. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . TikTok CEO Shou Zi Chew also was frequently put in the hot seat, but a big chunk of that was over the app's ties to China, not teen safety.

Persons: Linda Yaccarino, Mark Zuckerberg, Shou Zi Chew, Yaccarino, —, Zuckerberg Organizations: Service Locations: China

☆ Meta, X, TikTok, Snap and Discord face growing appetite in Congress for tighter social media regulation
▼ + stars: | 2024-01-31 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +5 min

(L-R) Shou Zi Chew, CEO of TikTok, Linda Yaccarino, CEO of X, and Mark Zuckerberg, CEO of Meta testify before the Senate Judiciary Committee at the Dirksen Senate Office Building on January 31, 2024 in Washington, DC. Tillis and other lawmakers accused the tech executives of failing to protect children from sexual exploitation on their respective social media platforms. Growing appetite for regulationTo be sure, both Republican and Democratic senators were united in their conviction that social media firms are failing the American public and directly harming young people. Still, it takes time for bills to get passed, and all of these social media firms are still getting slammed for child-safety related issues, which could keep the topic fresh in the minds of politicians. Watch: Meta CEO Mark Zuckerberg apologizes to parents at online child safety Senate hearing.

Persons: Shou Zi Chew, Linda Yaccarino, Mark Zuckerberg, Meta, Alex Wong, Sen, Thom Tillis, Tillis, Josh Hawley, Zuckerberg, Tom Cotton, Chew Organizations: Dirksen, Facebook, Republican, Democratic, Meta, New, Apple, Lawmakers, Chinese Communist Party Locations: Washington , DC, Cambridge, China

☆ Lawmakers to grill CEOs of Meta, TikTok, X and other social media firms at hearing on child safety
▼ + stars: | 2024-01-31 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +4 min

Mark Zuckerberg, Linda Yaccarino, Evan Spiegel and other leading social media executives face a grilling on Wednesday from lawmakers concerned about child exploitation and safety on their services. Lawmakers from both sides of the aisle have blasted the companies for failing to properly address what some have called a "plague of online child sexual exploitation" on social media apps. Wednesday's hearing is focused specifically on issues pertaining to child exploitation and the prevalence of child sexual abuse material on social media. The social media executives are expected to detail their efforts combating child exploitation on their platforms, which include working with law enforcement and tasks like proactively identifying potential predators. Watch: Early Meta platforms investor Brad Gerstner tackles big tech ahead of key earnings week

Persons: Mark Zuckerberg, Linda Yaccarino, Evan Spiegel, —, Shou Zi Chew, Jason Citron, Sen, Dick Durbin, Lindsey Graham, S.C, Citron, Meta, Brad Gerstner Organizations: Meta, U.S, Senate, Intelligence, Capitol, Washington , D.C, TikTok, Spiegel, Google YouTube, Committee, Lawmakers, Electronic Frontier Foundation, American Civil Liberties Union Locations: Washington ,, Washington, . New

☆ FBI shuts down China's 'Volt Typhoon' hackers targeting U.S. infrastructure
▼ + stars: | 2024-01-31 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +3 min

The Justice Department and FBI identified the attacks and shut down aspects of the Volt Typhoon malware, Wray said. Microsoft in May warned that Volt Typhoon hackers had been active since 2021 and were targeting U.S. cyber infrastructure. The hacks have become increasingly sophisticated, Jen Easterly, director of the Cybersecurity and Infrastructure Security Agency, said at the hearing. She explained that Chinese hackers are able to "live within a computer's operating system" in a way that makes them difficult to identify. In July, Chinese hackers also compromised the email accounts of the U.S. ambassador to China and other officials.

Persons: Christopher Wray, Wray, they're, that's, Shou Zi Chew Organizations: FBI, Justice Department, Microsoft, Infrastructure Security Agency, Communist Party, NBC News, British Locations: China, U.S, London, Taiwan

☆ TikTok is about to find out if it can survive without Taylor Swift and Ice Spice
▼ + stars: | 2024-01-31 | by ( Hannah Getahun | Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Universal Music Group said it could not reach a deal with TikTok to license its music. The label says TikTok pays a "fraction of the rate" that other platforms do for licensing. The current contract between UMG and TikTok expires Wednesday, per the letter. 2", Ice Spice's "In Ha Mood," and Taylor Swift's "Cruel Summer" are a part of the label's catalog. "TikTok has been able to reach 'artist-first' agreements with every other label and publisher," TikTok told Business Insider.

Persons: UMG, TikTok, —, Taylor Swift, Drake, Olivia Rodrigo, Beyonce, Doja, Taylor, Shou Zi, Chew Organizations: Universal Music Group, Service, UMG, Business Locations: UMG, TikTok, China

☆ Federal judge blocks Montana's TikTok ban, which would have been the first of its kind
▼ + stars: | 2023-12-01 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +3 min

TikTok Music has launched on Wednesday in Australia, Singapore and Mexico to a small group of users. A federal judge in Montana has blocked a law that would have resulted in a state-wide ban of TikTok starting on Jan. 1, 2024. Before the judge's preliminary ruling, Montana was set to become the first U.S. state to ban the popular video and social media app, which is owned by the China-based tech giant ByteDance. ByteDance sued Montana in May to "prevent the state of Montana from unlawfully banning TikTok," the company said at the time. The lawmakers were concerned that the Chinese Communist Party may be able to access the data of U.S. citizens, and have considered implementing a nation-wide ban on TikTok.

Persons: Donald Molloy, Greg Gianforte, Molloy, General, ByteDance, Shou Zi Chew, TikTok Organizations: Communist Party, Montana, State, Chinese Communist Party, Oracle Locations: Australia, Singapore, Mexico, Montana, TikTok, U.S, China, Texas

☆ Asia’s tech giants lean toward desperate deals
▼ + stars: | 2023-11-30 | by ( Anshuman Daga | ) www.reuters.com time to read: +3 min

TikTok CEO Shou Zi Chew arrives for a dinner, on the eve of the Paris Peace Forum at the Elysee Palace in Paris, France, November 9, 2023. TikTok CEO Shou Zi Chew was feted in Indonesia where it has 125 million monthly active users when he pledged in June to invest billions of dollars in the region. But the global giant failed to anticipate regulatory hurdles in its biggest market for online shopping. TikTok’s viral video app would provide Tokopedia with a powerful new growth avenue for its online shopping and payments business. Yet as tech companies from the People’s Republic to Indonesia pull out all the stops to lift growth amid waning investor support, desperate new alliances are bound to emerge.

Persons: Shou Zi Chew, Gonzalo Fuentes, TikTok, China’s, GoTo, Patrick Walujo, Indonesia’s GoTo, Una Galani, Thomas Shum Organizations: Paris Peace, REUTERS, Rights, Reuters, Companies, Google, Temasek, Bain &, Reuters Graphics Reuters Graphics, Tokopedia, HK, Global Digital, Djarum, Bloomberg, Thomson Locations: Paris, France, Rights SINGAPORE, Southeast Asia, Indonesia, Reuters Graphics Reuters Graphics Jakarta, Tokopedia, Lazada, Singapore, Indonesian, Thailand, People’s Republic, China

☆ X, Snap and Discord CEOs subpoenaed by lawmakers to testify about child sexual exploitation
▼ + stars: | 2023-11-20 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +3 min

Lawmakers said Monday that they have issued subpoenas to the CEOs of X, Snap and Discord to compel the executives to testify on a hearing regarding online child sexual exploitation. Marshals Service to personally serve the subpoenas to Discord and X, which they characterized as "a remarkable departure from typical practice." Hearing from the CEOs of some of the world's largest social media companies will help inform the Committee's efforts to address the crisis of online child sexual exploitation." A Discord spokesperson said that, "Keeping our users safe, especially young people, is central to everything we do at Discord." "We have been actively engaging with the Committee on how we can best contribute to this important industry discussion," the Discord spokesperson said.

Persons: Linda Yaccarino, Vox, Dick Durbin, Lindsey Graham, Durbin, Graham, Wifredo Fernandez, Fernandez, Evan Spiegel, they've, Mark Zuckerberg, TikTok's Shou Zi Chew Organizations: The Ritz, Carlton, Lawmakers, U.S . Marshals Service, Big Tech, Twitter, CNBC, Committee, Meta, X Corp Locations: Laguna, Dana Point , California, Canada

☆ US Marshals serve CEOs of X and Discord with congressional subpoenas ahead of Big Tech child safety hearing
▼ + stars: | 2023-11-20 | by ( Brian Fung | ) edition.cnn.com time to read: +2 min

CNN —Tech CEOs are once again being summoned to Congress to testify about their business practices — and this time, the US Marshals Service is getting involved. On Monday, the Senate Judiciary Committee said it had subpoenaed three top social media executives — X CEO Linda Yaccarino, Snap CEO Evan Spiegel and Discord CEO Jason Citron — for a Dec. 6 hearing on children’s online safety and content moderation. “At our February hearing on protecting children’s safety online, we promised Big Tech that they’d have their chance to explain their failures to protect kids. In a statement, X said it has been cooperating with the committee. “We have been working in good faith to participate in the Judiciary committee’s hearing on child protection online as safety is our top priority at X,” said Wifredo Fernandez, head of US & Canada government affairs at X.

Persons: —, Linda Yaccarino, Evan Spiegel, Jason Citron —, Mark Zuckerberg, Shou Zi Chew, Yaccarino, Citron, ”, Dick Durbin, Lindsey Graham, X, “, Wifredo Fernandez, ” Meta, didn’t Organizations: CNN — Tech, US Marshals Service, Committee, US, Big Tech, Republican, ” Locations: Sens, Canada

WASHINGTON (AP) — A Senate committee has issued bipartisan subpoenas to the CEOs of Discord, Snap and X, demanding that the heads of the three companies testify at a December hearing on protecting children online. Senate Judiciary Committee Chairman Dick Durbin, D-Ill., and South Carolina Sen. Lindsey Graham, the top Republican on the panel, announced Monday that they had issued the subpoenas to Discord CEO Jason Citron, Snap CEO Evan Spiegel and Linda Yaccarino, the CEO of X, formerly known as Twitter, “after repeated refusals to appear” during weeks of negotiations. "Big Tech’s failure to police itself at the expense of our kids cannot go unanswered,” the two senators said in a statement. The committee said that “in a remarkable departure from typical practice," Discord and X refused to accept service of the subpoenas and the panel was forced to enlist the U.S. Durbin and Graham said the committee remains in discussions with both Meta and TikTok and expects their CEOs, Mark Zuckerberg and Shou Zi Chew, to testify voluntarily.

Persons: Dick Durbin, South Carolina Sen, Lindsey Graham, Jason Citron, Evan Spiegel, Linda Yaccarino, “, X, Durbin, Graham, Mark Zuckerberg, Shou Zi Chew, Barbara Ortutay Organizations: WASHINGTON, —, South, Republican, U.S . Marshals Service, Social, Meta, Facebook, Associated Press Locations: South Carolina, Washington, San Francisco

☆ U.S. senators expect Meta, TikTok CEOs to testify at hearing on child sexual exploitation
▼ + stars: | 2023-11-20 | by ( David Shepardson | ) www.reuters.com time to read: +1 min

[1/2] U.S. Sen. Lindsey Graham (R-SC) arrives for a hearing with the U.S. Senate Judiciary Committee on President Joe Biden’s judicial nominees on Capitol Hill in Washington, U.S., January 25, 2023. REUTERS/Leah Millis Acquire Licensing RightsWASHINGTON, Nov 20 (Reuters) - The U.S. Senate Judiciary Committee said it will hold a Dec. 6 hearing on online child sexual exploitation and expects Meta (META.O) CEO Mark Zuckerberg and TikTok CEO Shou Zi Chew will agree to testify voluntarily. The committee also has issued subpoenas to the CEOs of Discord, Snap (SNAP.N), and X, formerly known as Twitter, to compel them to testify. "Big Tech’s failure to police itself at the expense of our kids cannot go unanswered,” said Durbin and Graham in a joint statement. Reporting by David Shepardson, Jasper Ward and Doina Chiacu; Editing by Caitlin Webber and Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Lindsey Graham, Joe Biden’s, Leah Millis, Mark Zuckerberg, Shou Zi Chew, Dick Durbin, Republican Lindsey Graham, ”, Durbin, Graham, X, David Shepardson, Jasper Ward, Doina, Caitlin Webber, Chizu Organizations: . Sen, U.S . Senate, Capitol, REUTERS, Rights, U.S, Senate, Committee, Republican, U.S . Marshals Service, Thomson Locations: Washington , U.S

☆ Mom and pop shops are cutting software spending, creating jitters on Wall Street
▼ + stars: | 2023-11-16 | by ( Jake Piazza | In | ) www.cnbc.com time to read: +9 min

Joe Coffee founders Nick and Brenden Martin Joe CoffeeWall Street is on edge. Over the past two decades, small businesses have accounted for 40% of U.S. gross domestic product, according to the Chamber of Commerce. "If America is really built on the backbone of small business owners, why are they the ones that never catch the break?" In 2021, Joe Coffee, which now has 17 employees, created a full software and payments suite for coffee shops. WATCH: Xero will remain focused on core segments such as small businesses

Persons: PAYC ZI, Nick Martin, Joe Coffee, Martin, Joe Coffee's, aren't, Bill, Nick, Brenden Martin Joe Coffee, John Rettig, Cameron Hyzer, Yamini Rangan, Rangan, Bill didn't, Jake Dollarhide, Martins, Brenden Martin, Nick's, Brenden, Zhang Peng, they'd, Taylor McGinnis, ZoomInfo, we've, Bryan Keane Organizations: Starbucks, CNBC, Bill Holdings, Bureau of Labor Statistics, Joe, Nasdaq, Chamber of Commerce, Longbow Asset Management, Microsoft, Coffee Fest, UBS, Deutsche Bank Locations: Seattle, Paycom, West Richland , Washington, Coffee, Los Angeles

☆ China's richest nepo babies look set to inherit $120 billion
▼ + stars: | 2023-11-15 | by ( Polly Thompson | ) www.businessinsider.com time to read: +2 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. All aged under 40, Chinese heirs from at least 11 families will soon have control of wealth worth an estimated $120 billion, according to the Bloomberg Billionaires Index. AdvertisementNongfu Spring is China's biggest water company. Future Publishing/Getty ImagesThe company, worth just over half a trillion dollars, is China's biggest bottled water producer. These billionaire nepo babies are standing by to reap the benefits of China's an almost uninterrupted wealth boom over the past four decades.

Persons: —, Zhong Shu Zi, Zhong, Gao Haichun, nepo, it's Organizations: Service, Billionaire, Bloomberg, University of California, Future Publishing, Brown University, McKinsey, Global Locations: China, Irvine

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsJAKARTA, Nov 13 (Reuters) - TikTok has been holding talks with Indonesian e-commerce companies about possible partnerships, an Indonesian minister said on Monday, a month after Southeast Asia's largest economy banned online shopping on social media platforms. "Some e-commerce companies in Indonesia have talked to TikTok," he said in an interview, citing what the companies' executives told him. It was a particular blow to TikTok, which was forced to close its e-commerce service TikTok Shop. A TikTok Indonesia spokesperson was not available to comment. Until it stopped operations, TikTok Shop was delivering about 3 million parcels a day in Indonesia, sources have said.

Persons: Dado Ruvic, Teten Masduki, TikTok, Tokopedia, Bukalapak, Blibli, Joko Widodo, Shou Zi Chew, Teten, Indonesia's, SEA's, Stanley Widianto, Ananda Teresia, Edwina Gibbs Organizations: REUTERS, Rights, Indonesian, GoTo's, TikTok, YouTube, Meta, Google, Temasek Holdings, Bain & Co, HK, Lazada, Thomson Locations: Rights JAKARTA, Indonesian, Indonesia, Southeast, Singapore

And tensions between the countries heightened earlier this year when a Chinese surveillance balloon was spotted traveling over sensitive U.S. airspace. The U.S. military shot down the balloon off the Carolina coast after it traversed sensitive military sites across North America. With all of the tensions, the two nations have worked to smooth economic ties. Xi similarly met with Blinken in June when the secretary of state traveled to Beijing for talks with Wang. In January, she had her first face-to-face meeting with former Vice Premier Liu He in Zurich.

Persons: Janet Yellen, Joe Biden, Xi Jinping, Nicholas Szechenyi, ”, Biden, Shou Zi Chew, Wang Yi, Antony Blinken, Jake Sullivan, Xi, Wang, Yellen, Liu, “, Colleen Long, Aamer Madhani Organizations: WASHINGTON, —, Economic Cooperation, Center for Strategic, International Studies, APEC, Chinese Foreign, White, U.S, White House, Blinken, U.S . Treasury Department, China’s Ministry of Finance, Associated Press Locations: San Francisco, Asia, United States, China, U.S, Carolina, North America, Washington, Beijing, Zurich

☆ YouTube, TikTok must detail child protection measures by Nov 30, EU says
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +1 min

[1/2] A 3D printed Youtube and Tik Tok logo are seen placed on keyboard in this illustration taken, September 15, 2020. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsBRUSSELS, Nov 9 (Reuters) - Alphabet's (GOOGL.O) YouTube and TikTok have been given a Nov. 30 deadline by the European Union to reply to an information request on how they protect children from illegal and harmful content, the European Commission said on Thursday. Google and TikTok did not immediately reply to a request for comment. The information request comes days after Breton told TikTok Chief Executive Officer Shou Zi Chew to spare no effort to counter disinformation on its platform, owned by China's ByteDance. "Based on the assessment of the replies, the Commission will assess next steps", the Commission said.

Persons: Dado Ruvic, Thierry Breton, Breton, Shou Zi Chew, China's ByteDance, Sundar Pichai, Tassilo Hummel, David Evans Organizations: REUTERS, Rights, YouTube, European Union, European Commission, Big Tech, Digital Services, Google, Reuters, Wednesday, TikTok, DSA, Thomson Locations: Rights BRUSSELS, Breton

☆ TikTok owner ByteDance offers employees buyback option at higher price to boost confidence
▼ + stars: | 2023-11-08 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

Chinese technology giant ByteDance is offering to buy back stock options from employees at a higher price than earlier this year, in a bid to boost motivation and inject confidence among employees after a challenging year. RSUs or options are an instrument employees can purchase, which convert into actual shares if the company goes public or gets acquired. A ByteDance spokesperson confirmed the plan to CNBC and said the company aims to provide liquidity of its RSUs and options to motivate employees through buyback programs. ByteDance is not public. It is also a way for early employees who may have purchased stock options at a cheaper price to make some return on their investment.

Persons: Shou Zi Chew, ByteDance Organizations: Wednesday, CNBC, ByteDance, TikTok Locations: U.S

☆ X and TikTok are both under fire from the EU over hate speech and Israel-Hamas disinformation
▼ + stars: | 2023-11-08 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

TikTok's CEO and an X executive met with the European Commission's Věra Jourová on Tuesday. She said they both need to "step up" their efforts to counter hate speech. AdvertisementAdvertisementTikTok and X, formerly Twitter, need to "step up" their efforts countering hate speech, a European Commission vice president said. In posts on X, Jourová said the meetings were constructive but pointed out several areas of improvement, adding that X needs to do more to comply with the Digital Services Act. AdvertisementAdvertisementAs well as illegal hate speech, Jourová raised concerns about the platforms hosting pro-Hamas content in the wake of its attacks on Israel in October.

Persons: Jourová, —, Věra Jourová, Shou Zi Chew, Nick Pickles, X's, X, Elon Musk, TikTok Organizations: Service, European Commission, Digital Services, EU, Hamas, Elon Locations: Israel, Gaza, EU, Brussels

Companies TikTok FollowBRUSSELS, Nov 6 (Reuters) - TikTok must "spare no effort" to counter the spread of disinformation on the short video sharing app, EU industry chief Thierry Breton told the company's CEO on Monday, as the European Union steps up its efforts to curb the powers of Big Tech. "My services and I are now investigating whether this is enough to ensure compliance with the DSA (Digital Services Act)," Breton told Reuters in written comments after a video call with TikTok CEO Shou Zi Chew. "Because now more than ever, we must spare no effort to protect our citizens – especially children and teenagers – against illegal content and disinformation," he said. TikTok Public Policy Director Caroline Greer said in a post on social media platform X that the company was pleased that Breton recognised its compliance efforts. The DSA requires large online platforms to do more to tackle illegal and harmful online content on their platforms.

Persons: Thierry Breton, China's ByteDance, Breton, Shou Zi Chew, Caroline Greer, Chew, Vera Jourova, Didier Ryenders, Foo Yun Chee, Sharon Singleton Organizations: Big Tech, DSA, Services, Reuters, Big, EU, Values, Thomson Locations: BRUSSELS, European, Breton, Big Tech, Brussels

Chew will meet Breton on Nov. 6 and Jourova and Reynders on Nov. 7, a TikTok spokesperson said. He will update the commissioners on TikTok's data security regime called Project Clover which started to store European user data locally this year, a TikTok spokesperson said. The company has a data centre in Dublin, Ireland, and is building two more in Ireland and Norway. Breton last month gave TikTok an Oct. 25 deadline to provide information on its crisis response measures. Reporting by Foo Yun Chee; editing by Sudip Kar-Gupta and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Shou Zi Chew, Online Harms, Thierry Breton, Vera Jourova, Didier Reynders, TikTok, Chew, Breton, Foo Yun Chee, Sudip Kar, Gupta, Jason Neely Organizations: Energy, Commerce, Safeguard, Online, Capitol, Breton, Digital Services, Big Tech, Thomson Locations: Washington , U.S, BRUSSELS, EU, Brussels, Israel, Gaza, Reynders, Dublin, Ireland, Norway

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