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☆ TikTok Bill’s Progress Slows in the Senate
▼ + stars: | 2024-03-15 | by ( David Mccabe | Sapna Maheshwari | ) www.nytimes.com time to read: +1 min

After a bill that would force TikTok’s Chinese parent company to sell the app or face a nationwide ban sailed through the House at breakneck speed this week, its progress has slowed in the Senate. Senators — some of whom have their own versions of bills targeting TikTok — will need to be convinced. And the process of taking the House bill and potentially rewriting it to suit the Senate could be time consuming. The legislation mandates that TikTok’s parent company, ByteDance, sell its stake in the app within six months or face a ban. He said that there could be adjustments made to the bill but that there was bipartisan support to wrest the app from Chinese ownership.

Persons: Chuck Schumer, —, TikTok, Richard Blumenthal Organizations: Democratic Locations: New York, Connecticut

☆ Pence says he ‘cannot in good conscience’ endorse Trump
▼ + stars: | 2024-03-15 | by ( Veronica Stracqualursi | ) edition.cnn.com time to read: +2 min

CNN —Former Vice President Mike Pence on Friday said he “cannot in good conscience” endorse presumptive GOP nominee Donald Trump, a stunning repudiation of his former running mate and the president he served with. That’s why I cannot in good conscience endorse Donald Trump in this campaign,” Pence said on Fox News. “During my presidential campaign, I made it clear there were profound differences between me and President Trump on a range of issues. In his own presidential campaign last year, Pence warned Republicans of the “siren song of populism” from Trump and his imitators. Pence and his group, Advancing American Freedom, recently announced that they’re devoting $20 million to push conservative policies.

Persons: Mike Pence, Donald Trump, “ Donald Trump, ” Pence, Pence, Trump, I’ve, ByteDance’s, “, Joe Biden, Trump’s, ” Organizations: CNN, Fox News, Republican, GOP, Trump, Pence Locations: China, Trump

☆ What China Is Saying About the TikTok Furor in Washington
▼ + stars: | 2024-03-15 | by ( Meaghan Tobin | Siyi Zhao | ) www.nytimes.com time to read: +1 min

This is not the first time that China has seen a frenzy over TikTok consume Washington. In 2020, former President Donald J. Trump issued an executive order that would have forced TikTok’s Chinese owners to sell the popular app. Now, U.S. lawmakers are again attempting to force ByteDance, TikTok’s Chinese owner, to give up control of the app. Instead, officials in Beijing have blasted the bill but largely reiterated common criticisms of U.S. policy as unfair to China. Mr. Trump, the expected Republican presidential nominee, has said he opposes the bill despite his 2020 executive order against TikTok.

Persons: Donald J, Trump, ByteDance Organizations: TikTok Locations: China, Washington, Beijing, Montana, U.S, United States

☆ India banned TikTok overnight but 200 million people learned to live without it
▼ + stars: | 2024-03-14 | by ( Diksha Madhok | ) edition.cnn.com time to read: +5 min

On Wednesday, the US House of Representatives passed a bill that could lead to a nationwide TikTok ban. While the Chinese-owned app is not disappearing from Americans’ phones anytime soon, many of its 170 million users in the country are deeply rattled. “[Former] US Secretary of State Mike Pompeo had welcomed the ban, saying it ‘will boost India’s sovereignty.’”While India’s abrupt decision shocked the country’s 200 million TikTok users, in the four years since, many have found other suitable alternatives. Within a week of the ban, Meta-owned Instagram cashed in by launching its TikTok copycat, Instagram Reels, in India. According to Ray, Indian content creators swiftly moved all the old content they had shot for TikTok to Instagram Reels and YouTube Shorts.

Persons: TikTok, ”, Nikhil Pahwa, Mike Pompeo, TikTokkers, Saptarshi Ray, Instagram, Moj, Ray, Clyde Fernandes, Vivan Sharan, ” Sharan, “ Organizations: New, New Delhi CNN, India, Google, YouTube, Oxford, Advisory Locations: New Delhi, United States, India, China, Delhi, American, Bengaluru, Opraahfx, Beijing

☆ Opinion: The dangers in leaving TikTok at Beijing’s disposal
▼ + stars: | 2024-03-14 | by ( Opinion Frida Ghitis | ) edition.cnn.com time to read: +8 min

CNN —For many of the 170 million TikTok users in the United States, Wednesday’s vote in the House of Representatives to effectively ban the social media platform is worrisome. That’s just one reason why it’s laughable to hear China’s foreign ministry claim that the TikTok bill would disrupt market operations and undermine investor confidence. Most of the world’s most popular social media apps, incidentally, are banned in China unless they — or their user data — are locally based and thus easily overseen by the government. She has had multiple meetings with legislators and has spoken with Trump about protecting TikTok, according to the Washington Post. The government needs to develop oversight rules for all social media.

Persons: Frida Ghitis, Donald Trump, TikTok, Shou Chew, “, Jack Ma —, Xiao Jianhua, National Intelligence Avril Haines, Trump, ” Trump, ”, Jeff Yass, Kellyanne Conway, Meta’s Mark Zuckerberg Organizations: CNN, Washington Post, Politics, ByteDance, Frida Ghitis CNN, Pew Research, Facebook, Oracle, National Intelligence, Rutgers University, Air Force One, Microsoft, Trump, Citizens United Locations: United States, Washington, Russia, TikTok, Beijing, That’s, China, Israel, Tibet, Hong Kong, USSR

☆ 10 things to watch in the stock market Thursday, including inflation, Nvidia, Broadcom, Microsoft
▼ + stars: | 2024-03-14 | by ( Zev Fima | ) www.cnbc.com time to read: +4 min

Morgan Stanley analysts say, "Within internet coverage group, the survey results were most bullish for OW (overweight) META . Evercore ISI raises its Netflix price target to $640 per share from $600, reiterating its buy-equivalent rating. The analysts say the turnaround at IBM continues, citing "a defensive portfolio, attractive dividend yield, and underappreciated AI capabilities." Goldman Sachs research analysts upgrade shares of Citigroup to buy from neutral with a $68-per-share price target. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Steven Mnuchin, ByteDance, Mnuchin, Morgan Stanley, Bernstein, Mizuho, Arvind Krishna, Goldman Sachs, Wells, Dick's, Jim Cramer's, Jim Cramer, Jim Organizations: PPI, CPI, CNBC, U.S, Community Bancorp, Facebook, Nvidia, Broadcom, Citi, Micron, Microsoft, Security, Disney, Amazon, Bank of America, IBM, Citigroup, Dick's, Goods, Jim Cramer's Charitable Locations: New, Japan

☆ China is unlikely to approve ByteDance's divestiture of TikTok, analyst says
▼ + stars: | 2024-03-14 | 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 EmailChina is unlikely to approve ByteDance's divestiture of TikTok, analyst saysThe Chinese government is likely to reject a "forced" divestiture of TikTok, said Paul Triolo, senior vice president for China and technology policy lead at Albright Stonebridge Group.

Persons: Paul Triolo Organizations: Albright, Group Locations: China

☆ Come on, everyone, let's buy TikTok!
▼ + stars: | 2024-03-14 | by ( Henry Blodget | ) www.businessinsider.com time to read: +5 min

So, in the wake of the (notably bi-partisan) House bill, some Americans are already volunteering to buy TikTok — such as former Treasury Secretary Steven Mnuchin. These investors would include private equity funds, hedge funds, pension funds, sovereign wealth funds, mutual funds, and, of course, banks. That's what Steven Mnuchin and everyone else who wants to buy TikTok are planning to do. That's why Mnuchin made his announcement on CNBC this morning — to let every investor on the planet who might give him money to buy TikTok know that he's raising money to buy TikTok. ("Wait — he's putting together a group to buy TikTok and he hasn't called us yet?

Persons: —, Let's, Steven Mnuchin, Mnuchin, Goldman Sachs, there's, Elon Musk, ByteDance, Steven Mnuchin's, hasn't Organizations: Service, Twitter, CNBC Locations: America, China, American, Banks

☆ Former Treasury Secretary Steven Mnuchin is interested in buying TikTok
▼ + stars: | 2024-03-14 | by ( Elisabeth Buchwald | Matt Egan | ) edition.cnn.com time to read: +3 min

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

☆ CNBC Daily Open: U.S. consumer spending data looms
▼ + stars: | 2024-03-14 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Asia stocks mixedAsia markets were mixed Thursday as investors assessed Japan's spring wage negotiations. "If you have a position that does not cost you ever to lose an employee, it's not a position," Karp said in an interview on CNBC. [PRO] China stocks worth the riskChinese stocks are a "risk worth taking," said Jason Hsu, chairman and chief investment officer of Rayliant Global Advisors.

Persons: Topix, Israel, Alex Karp, it's, Karp, Jason Hsu Organizations: CNBC, Nikkei, Bank of Japan, Nasdaq, Dow, Ford Motor, General Motors, Mercedes, Benz, House, U.S . House, Rayliant Global Advisors Locations: Asia, Israel, China

☆ TikTok Turns to Creators to Fight Possible Ban
▼ + stars: | 2024-03-14 | by ( Sapna Maheshwari | Yiwen Lu | ) www.nytimes.com time to read: 1 min

Facing a possible ban in the United States, TikTok has scrambled to deploy perhaps its most powerful weapon: its creators. The hugely popular video service began recruiting dozens of creators at the end of last week, asking them to travel to Washington to fight a bill being debated in Congress. Under the proposal, TikTok’s Chinese owner, ByteDance, would need to sell the app or it would be blocked in the United States. Many of the creators have met with lawmakers and posted videos about their opposition to the bill with the hashtag #KeepTikTok, often with the irreverent humor the app is known for. “So old white people boomers we call Congress-people are trying to ban TikTok, and I’m not having it,” Giovanna González, a TikTok creator better known as @TheFirstGenMentor, posted in a video on Tuesday, with the U.S. Capitol visible in the distance behind her.

Persons: TikTok, I’m, ” Giovanna González Organizations: U.S, Capitol Locations: United States, Washington

☆ Italy fines TikTok $11 million for failing to protect minors
▼ + stars: | 2024-03-14 | by ( Maisie Linford | ) edition.cnn.com time to read: +1 min

London CNN —Italy’s competition authority has fined TikTok €10 million ($11 million) for failing to control the spread of content that it said threatened the safety of minors and other vulnerable people. The antitrust agency, AGCM, said Thursday that TikTok, which is owned by China’s ByteDance, had failed to take into account the specific vulnerabilities of adolescents using its platform, such as a tendency toward copying group behaviors. The trend involved TikTok users pinching their own cheeks to leave a lasting bruise, Reuters reported last month. A TikTok spokesperson told CNN that it disagreed with the AGCM’s decision. “We long ago restricted visibility of this content to (under-18s).”This is a developing story and will be updated.

Persons: London CNN —, TikTok, China’s ByteDance, Angelica Chiara Yazbeck Organizations: London CNN, Reuters, CNN

☆ House passes TikTok ban: Could the bill pass in Senate?
▼ + stars: | 2024-03-14 | 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 EmailHouse passes TikTok ban: Could the bill pass in Senate? Sapna Maheshwari, The New York Times business reporter, joins 'Squawk Box' to discuss the passage of a House bill requiring China tech giant ByteDance to divest TikTok, how likely the bill will pass in the Senate, the impact of a potential ban, and more.

Persons: Sapna Organizations: Email, The New York Times, TikTok, Senate Locations: The, China

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

☆ The U.S. wants ByteDance to sell TikTok. China is almost certainly going to refuse
▼ + stars: | 2024-03-14 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +4 min

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

WASHINGTON (AP) — If some U.S. lawmakers have their way, the United States and China could end up with something in common: TikTok might not be available in either country. But while U.S. lawmakers associate TikTok with China, the company, headquartered outside China, has strategically kept its distance from its homeland. Since its inception, the TikTok platform has been intended for non-Chinese markets and is unavailable in mainland China. Some have insisted they be called “global companies” instead of “Chinese companies.”But for TikTok, this may not be enough. “America’s foremost adversary has no business controlling a dominant media platform in the United States.

Persons: TikTok, Joe Biden, Zhiqun Zhu, ” Zhu, Alex Capri, Hinrich, ” Capri, Capri, Zhang Yiming, Mike Gallagher, ”, Gallagher, “, Sen, Tom Cotton, Shou Zi Chew, beholden, Chew, Nancy Pelosi, ” Chew, Thomas Zhang, Zhang, It's, Donald Trump, Trump Organizations: WASHINGTON, Bucknell University, “, National University of Singapore, Hinrich Foundation, Chinese Communist Party, CCP, Communist, Wired, Republicans Locations: United States, China, Beijing, Hong Kong, U.S, Washington, there's, Chinese, Chew

☆ Big Appeal, and Big Question Marks, in Possible TikTok Sale
▼ + stars: | 2024-03-14 | by ( Lauren Hirsch | David Mccabe | ) www.nytimes.com time to read: +1 min

TikTok is one of the most popular and largest social media apps around the globe — with great brand recognition and loyal users. That’s the conundrum facing TikTok as Washington lawmakers push a bill that would force the app’s Chinese parent company, ByteDance, to sell it or face having it banned in the United States. The bill passed the House on Wednesday but could face an uphill climb in the Senate. Rumors are already swirling on Wall Street about who could be interested in buying TikTok. The U.S. president, according to the bill passed by the House, would have to affirm that a deal cut the app off from ByteDance.

Persons: Steven Mnuchin, Mr, Mnuchin Organizations: CNBC, U.S Locations: Washington, United States, U.S, ByteDance

☆ If the US bans TikTok, China will be getting a taste of its own medicine
▼ + stars: | 2024-03-14 | by ( Laura He | ) edition.cnn.com time to read: +7 min

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

☆ Jim Cramer is 'very concerned' about this overbought stock market. Here's what investors should do
▼ + stars: | 2024-03-14 | by ( Morgan Chittum | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Investors should not buy at these levels because the stock market is overbought, Jim Cramer said. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

Persons: Jim Cramer, Jim, ByteDance, TikTok, Steven Mnuchin, Jim Cramer's Organizations: CNBC, Federal Reserve, Facebook, Microsoft, Security, Palo Alto Networks, Palo Alto Locations: U.S

☆ Premarket stocks: This investor predicted the dot-com bust. He thinks AI is a bubble that will ‘deflate’
▼ + stars: | 2024-03-14 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

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

☆ Who will buy TikTok from ByteDance?
▼ + stars: | 2024-03-14 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

At $100 billion, there are few companies that could afford to buy TikTok outright. Citing people familiar with the matter, the Journal wrote that Kotick “floated the idea of partnering to buy TikTok to a table of people that included OpenAI CEO Sam Altman.”CNN couldn’t independently confirm the report. Its one go at the social media scene, the buggy and short-lived Ping, was one of Apple’s biggest flops. And any tech executive or private equity investor thinking of buying TikTok would need to be prepared to enter the social media quagmire. A key question in assessing the value of a TikTok deal is whether China would allow ByteDance to export its algorithm — the secret sauce that keeps TikTok users glued to their phones.

Persons: CNN Business ’, There’s, Joe Biden’s, who’d, Dan Ives, ” Ives, Who’s, ”, Gene Kimmelman, OpenAi, Bobby Kotick, Activision Blizzard, “, Sam Altman, ” CNN couldn’t, Altman didn’t, doesn’t, quagmire, They’d, Mark Zuckerberg, Shou Chew, It’s, Trump, —, Brian Fung Organizations: CNN Business, New York CNN, Senate, Microsoft, Department, Google, ” Meta, Facebook, Street Journal, Activision, ” CNN, Kotick, Apple, Oracle, Walmart, Communist Party, ByteDance Locations: New York, United States, Beijing, Europe, China

☆ CNBC Daily Open: U.S. retail sales in sharp focus
▼ + stars: | 2024-03-14 | by ( Sumathi Bala | ) www.cnbc.com time to read: +1 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Stocks end mixedWall Street ended mixed Wednesday, dragged down by tech stocks as investors await key updates on retail sales and producer prices. "If you have a position that does not cost you ever to lose an employee, it's not a position," Karp said in an interview on CNBC. [PRO] China stocks worth the riskChinese stocks are a "risk worth taking," said Jason Hsu, chairman and chief investment officer of Rayliant Global Advisors.

Persons: Israel, Alex Karp, it's, Karp, Jason Hsu Organizations: CNBC, Nasdaq, Dow, House, U.S . House, Ford Motor, General Motors, Mercedes, Benz, Rayliant Global Advisors Locations: Israel, China

☆ The best position for ByteDance is to cut its loses and sell to the U.S., policy advisor says
▼ + stars: | 2024-03-14 | 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 EmailThe best position for ByteDance is to cut its loses and sell to the U.S., policy advisor saysMichael Sexton, senior policy advisor for cyber and A.I. at Third Way, discusses the latest battle between the U.S. and Tik Tok to transfer ownership of the ByteDance-owned app.

Persons: Michael Sexton, Tok Organizations: U.S Locations: U.S

☆ Elon Musk would be the best owner for TikTok. There's just one problem.
▼ + stars: | 2024-03-14 | by ( Peter Kafka | ) www.businessinsider.com time to read: +6 min

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

☆ The House Vote to Force Tik Tok’s Sale Is a Mistake - The New York Times
▼ + stars: | 2024-03-14 | by ( Julia Angwin | ) www.nytimes.com time to read: +1 min

But there is an issue on which both sides agree: We need more privacy and TikTok should not be banned. And only 31 percent of Americans favor a nationwide ban on TikTok, according to a February Associated Press-NORC opinion poll. Despite public sentiment, the U.S. House passed legislation on Wednesday by an overwhelming majority that could force TikTok to divest from control by its Chinese parent company or be banned. TikTok’s parent company, ByteDance, is based in China, and American lawmakers say they are pursuing a ban in the name of protecting U.S. data from the Chinese government. But lawmakers are not pursuing comprehensive federal privacy legislation that would protect Americans’ data across all the apps they use.

Persons: TikTok Organizations: Pew Research, Associated Press, U.S . House Locations: China

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