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☆ House committee unanimously supports forcing TikTok divestiture
▼ + stars: | 2024-03-07 | by ( Emily Wilkins | ) www.cnbc.com time to read: +3 min

A bipartisan panel of lawmakers unanimously approved a controversial bill on Thursday that could lead to TikTok being blocked in the U.S. if it doesn't break with Chinese parent ByteDance. The committee voted 50-0 to advance the bill to the full House or Representatives. On the app, they were greeted with a screenshot warning them that Congress was "planning a total ban of TikTok." "Today, it's about our bill and it's about intimidating members considering that bill," said Rep. Mike Gallagher, R-Wi., chair of the Select Committee on the Chinese Communist Party. WATCH: Biden campaign joins TikTok despite ban of app on government phones

Persons: TikTok, Cathy McMorris Rodgers, Mike Johnson, Joe Biden, Lawmakers, Mike Gallagher, Biden Organizations: U.S, Lawmakers, Energy, Commerce Committee, National Security, American Civil Liberties Union, Computer & Communications Industry Association, Center for Democracy & Technology, CNBC, Chinese Communist Party Locations: U.S, ByteDance, China

☆ TikTok: House panel unanimously approves bill that could ban app from US app stores
▼ + stars: | 2024-03-07 | by ( Brian Fung | ) edition.cnn.com time to read: +11 min

If enacted, the bill would give ByteDance 165 days, or a little more than five months, to sell TikTok. The legislation also has the support of the White House and House Speaker Mike Johnson. House lawmakers voted unanimously in the same session Thursday to advance a second bill, one that would limit US companies’ ability to sell Americans’ personal information to foreign adversaries. Speaking to reporters on the Capitol steps Thursday, Gallagher rejected characterizations of the bill as a TikTok ban. A legislative factsheet from the sponsors of the House bill claims the proposal does not censor speech.

Persons: ”, TikTok, Shou Chew, Cathy McMorris Rodgers, Frank Pallone, “, ” Pallone, Shou Zi Chew, Jose Luis Magana, Mike Gallagher, Raja Krishnamoorthi, Mike Johnson, Steve Scalise, Washington Sen, Maria Cantwell, ” Cantwell, Gallagher, “ It’s, Dan Crenshaw, It’s, ” Crenshaw, snoop, ByteDance, Trump, Tom Williams, —, “ We’re, Jenna Leventoff, Stephanie Joyce, ” CNN’s Haley Talbot, Melanie Zanona Organizations: Washington CNN, TikTok, House Energy, Commerce, Apple, Google, “, Washington Republican, New, New Jersey Rep, Capitol, Wisconsin Republican, Illinois Democratic Rep, White, Senate, Democratic, Washington, CNN, Chinese Communist Party, Texas Republican, Oracle, American Civil Liberties Union, ACLU, Computer and Communications Industry Association, Foreign Locations: China, New Jersey, Washington, United States, Beijing, State, Rayburn, Montana

☆ Sweeping EU rules for tech giants take effect today. Here’s what’s changing
▼ + stars: | 2024-03-07 | by ( Brian Fung | ) edition.cnn.com time to read: +11 min

The new EU regulations force sweeping changes on some of the world’s most widely used tech products, including Apple’s app store, Google search and messaging platforms, including Meta’s WhatsApp. Its broad obligations affect six of the world’s largest tech companies: Amazon, Apple, Google, Meta, Microsoft and ByteDance, the parent company of TikTok. While the law could increase demand for tech companies to extend EU-specific features to other markets, few platforms have shown signs they plan to do so. Tech pushes backBut some tech companies have pushed back on the DMA, warning that it could lead to unintended consequences. “The changes the DMA requires will inevitably cause a gap” between EU users’ security and the security Apple users enjoy outside the EU, it added.

Persons: Meta’s, Apple, Bing, Elon Musk’s, “ Fortnite, ”, Agustin Reyna, “, Apple’s, ” Apple, Reyna, ” BEUC, Tim Sweeney, Meta —, Daniel Friedlaender, CCIA, Friedlaender, Olesya Dmitracova Organizations: Washington CNN, Apple, Google, Union citizens, Big Tech, Spotify, Netflix, Digital Markets, Meta, Microsoft, European Commission, EU, YouTube, Epic, Consumer, Tech, Games, CNN, Computer, Communications Industry Association Locations: United States, Europe

☆ Big Tech goes from 'teenager' to 'grown-up' under landmark EU law. Here's what you need to know
▼ + stars: | 2024-03-07 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

Justin Tallis | AFP via Getty ImagesAn EU law that seeks to rein in large digital companies has officially kicked in, spelling big changes for primarily U.S. tech giants. CNBC runs through how the law impacts large U.S. tech companies — as well as consumers in the EU. The EU Digital Markets Act primarily impacts U.S. tech giants — the likes of Alphabet , Amazon , Apple , and Meta . The rules have already sparked big changes for tech giants in how they serve customers in the EU. It's likely more adjustments will come, as competitors to Big Tech firms aren't happy with the proposals put in place so far.

Persons: Justin Tallis, Bill Echikson, Echikson, ByteDance, Apple Organizations: Apple, Facebook, Microsoft, Getty, Digital Markets, European Commission, Center for, CNBC, Big Tech, EU Digital Markets, Meta, Google, Companies, EU, Spotify Locations: EU, U.S, iPhones

☆ U.S. lawmakers push for ByteDance to divest TikTok or face ban
▼ + stars: | 2024-03-06 | by ( ) www.cnbc.com time to read: +3 min

A bipartisan group of U.S. lawmakers introduced legislation on Tuesday to give China's ByteDance about six months to divest popular short video app TikTok or face a U.S. ban, seeking to tackle national security concerns about its Chinese ownership. Sopa Images | Lightrocket | Getty ImagesA bipartisan group of U.S. lawmakers introduced legislation on Tuesday to give China's ByteDance about six months to divest popular short video app TikTok or face a U.S. ban, seeking to tackle national security concerns about its Chinese ownership. The bill is the first significant legislative move in nearly a year toward banning or forcing ByteDance to divest the popular app, after senate legislation to ban it stalled in Congress last year in the face of heavy lobbying by TikTok. The bill would give ByteDance 165 days to divest TikTok, which is used by more than 170 million Americans, or make it unlawful for app stores run by Apple , Google and others to offer TikTok or provide web hosting services to apps controlled by ByteDance. "This bill is an outright ban of TikTok, no matter how much the authors try to disguise it," a company spokesperson said on Tuesday.

Persons: ByteDance, Mike Gallagher, Raja Krishnamoorthi, Gallagher, Biden, TikTok, Cathy McMorris Rodgers Organizations: Representatives, Chinese Communist Party, Apple, Google, National Security, American Civil Liberties Union, Energy, Commerce Locations: U.S, China, United States, TikTok

☆ TikTok faces more heat in Washington, as House members introduce legislation demanding ByteDance divestiture
▼ + stars: | 2024-03-05 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +3 min

The bill says TikTok is controlled by a foreign adversary and poses a threat to U.S. national security. Earlier attempts to ban TikTok in the U.S. appear to have stalled, leaving some states like Montana to try and impose their own bans. The Pew Research Center released a survey in December showing that support for a U.S. government ban on TikTok is declining. The survey showed that 38% of U.S. adults support a TikTok ban as of October compared to 50% in March. WATCH: The Biden campaign joins TikTok, despite ban on app on government phones.

Persons: Mike Gallagher, Raja Krishnamoorthi, Gallagher, ByteDance, Shou Zi Chew, Joe Biden, Donald Trump, TikTok, Biden's, Z Organizations: Lawmakers, TikTok, U.S, Chinese Communist Party, Apple, Google, Pew Research Center, Biden Locations: U.S, TikTok, Washington ,, United States, Montana

☆ Facebook is getting rid of the News tab in the U.S. and Australia
▼ + stars: | 2024-03-01 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +5 min

Meta said Thursday that it would remove a dedicated section for news articles in April that will affect Facebook users in the United States and Australia. "The number of people using Facebook News in Australia and the U.S. has dropped by over 80% last year." Meta's decision to remove the Facebook News tab comes after the company said in September that it would eliminate the news section for Facebook users in the U.K., France and Germany. However, Meta said that it "will not enter into new commercial deals for traditional news content in these countries and will not offer new Facebook products specifically for news publishers in the future." A year ago, Facebook represented about 50% the media outlets' social traffic.

Persons: Meta's Mark Zuckerberg, Zuckerberg, Jay Y, Lee, Meta, it's, Chartbeat, Similarweb, Mother Jones, Monika Bauerlein, Bauerlein, Sam Altman Organizations: Meta, Samsung Electronics, South Korean, Seoul Economic, Facebook, U.S, CNBC, Canadian, Nvidia Locations: South Korea, Seoul, United States, Australia, France, Germany

☆ TikTok is getting a new head of global trust and safety
▼ + stars: | 2024-02-27 | by ( Clare Duffy | ) edition.cnn.com time to read: +2 min

New York CNN —TikTok’s global trust and safety unit is getting a new leader, the company confirmed on Tuesday. Following Keenan’s move, TikTok’s global trust and safety unit will now fall under the leadership of Adam Presser, the company’s Los Angeles-based head of operations. However, TikTok’s trust and safety staff will otherwise remain in place as-is, according to the company. The leadership changes come as TikTok continues to face scrutiny in the United States, Europe and elsewhere over the safety and security of its platform. TikTok plans to invest $2 billion in trust and safety efforts in 2024, Chew said during the hearing.

Persons: Cormac Keenan, Shou Chew, Keenan, Adam Presser, Cormac, ” Chew, Chew, Theo Bertram, Rich Waterworth Organizations: New, New York CNN, CNN Locations: New York, Dublin, Ireland, Los Angeles, Europe, Middle East, Africa, United States

Trader works at the post where Alibaba is traded on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., March 28, 2023. REUTERS/Brendan McDermid Brendan Mcdermid | ReutersChinese e-commerce giant Alibaba is back on track to be a top market player after a period of pressure, co-founder Joe Tsai told CNBC's Emily Tan in an exclusive interview Friday. Questions about Alibaba's future have mounted after a series of internal changes, a scrapped cloud computing IPO and competition for its core e-commerce business. "Where we didn't feel as confident as before, we felt the competitive pressure, but now we're back." watch nowStock Chart Icon Stock chart icon Alibaba

Persons: Brendan McDermid Brendan Mcdermid, Joe Tsai, Emily Tan, Tsai Organizations: New York Stock Exchange, REUTERS, PDD Holdings, ByteDance, Alibaba Locations: New York City, U.S, China, Alibaba

☆ VSCO's CEO explains how the app found a profitable and sustainable business model — and breaks down 3 lessons for new social-media startups
▼ + stars: | 2024-02-22 | by ( Sydney Bradley | ) www.businessinsider.com time to read: +3 min

The app, which offers a slew of editing tools like filters, became a go-to for influencers and everyday social-media users, rivaling Instagram in cool factor if not in size. VSCO's memberships make up a majority of the company's revenue and it turned a profit in late 2022, Wittman told The Information last year. "VSCO boasts a worldwide community of more than 200 million users," Wittman told BI. Wittman told BI that VSCO is "capital efficient" and a spokesperson confirmed the company is profitable by GAAP standards. Here are 3 lessons VSCO's CEO has for startups entering the social-media arena in 2024:

Persons: Eric Wittman, VSCO, " Wittman, Wittman, ByteDance's, VSCO isn't Organizations: DMs

"I'm thinking about marketing myself as a TikTok Shop creator," Jayy told BI in July. Outside its in-house team, TikTok also deputizes official third-party TikTok Shop agency partners to work with creators and merchants on e-commerce strategies. And the company offers advice to all affiliate creators on its website via its TikTok Shop Academy. Someone who is not popular or famous going on TikTok Shop and offering products, or someone who is very popular and famous now getting products?" "I think the shortest path to more volume through TikTok Shop is really that second group."

Persons: D'Amelio, TikTok, Remy Beaumont, it's, Joy Mangano, Beaumont, playbook, Rick Watson, Sharon Jayy, Jayy, Watson Organizations: Business, Shop, Z Media, intel, Training, RMW Commerce Consulting, TikTok Shop, Shop Academy Locations: London, China, Douyin, TikTok's Culver

☆ The EU opens formal probe into TikTok over online protection of children
▼ + stars: | 2024-02-19 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

“The opening of proceedings means that the (European) Commission will investigate TikTok’s functionalities, systems and policies related to certain suspected infringements. It does not prejudge the outcome of the investigation,” a spokesperson for the bloc’s executive arm said in a statement Monday. TikTok’s age verification tools, aimed at preventing children from accessing inappropriate content, “may not be reasonable, proportionate and effective,” the European Commission said in a press release Monday. TikTok has almost 136 million monthly active users in the EU, according to the European Commission. It is the second time in as many months that the commission has launched formal proceedings against a large social media company.

Persons: ”, China’s ByteDance, TikTok, “, X Organizations: London CNN, European Union, Digital Services, Commission, European Commission, CNN, Social, European Commission . Companies

☆ TikTok Is Subject of E.U. Inquiry Over ‘Addictive Design’
▼ + stars: | 2024-02-19 | by ( Liz Alderman | ) www.nytimes.com time to read: +1 min

European Union regulators on Monday opened an investigation into TikTok over potential breaches of online content rules aimed at protecting children, saying the popular social media platform’s “addictive design” risked exposing young people to harmful content. TikTok has been under the scrutiny of E.U. regulators for months. The company was fined roughly $370 million in September for having weak safeguards to protect the personal information of children using the platform. Policymakers in the United States have also been wrestling with how to regulate the platform for harmful content and data privacy — concerns amplified by TikTok’s links to China.

Persons: TikTok Organizations: Digital Services, European Commission Locations: United States, China

The company also has promised to wall off U.S. user data from its parent company through a separate entity run independently from ByteDance and monitored by outside observers. TikTok says new user data is currently being stored on servers maintained by the software company Oracle. The AP-NORC poll shows TikTok users — about 170 million in the U.S., most of whom skew younger — are less likely to be worried about the app sharing American users' data, reflecting a previously felt generational divide. The Biden campaign has said it is using a separate cellphone for TikTok to isolate the app from other communications and was taking additional steps for protection. The poll also found that about 6 in 10 U.S. adults — and 41% of daily TikTok users — are “extremely or very concerned” about the amount of time children and teenagers spend on TikTok.

Persons: Joe Biden’s, TikTok, ”, Dan Ives, Biden, Mark Warner, ” Warner, “, Alex Haurek, Vivek Ramaswamy, influencers, —, it’s, Linley Sanders, ___ Organizations: The Associated Press, NORC Center for Public Affairs Research, U.S, Oracle, Foreign Investment, Commerce Department, Wedbush Securities, European Union, Senate, Virginia Democrat, Republican, Union Locations: U.S, Beijing, Virginia, India, Washington

OpenAI has completed a deal that values the San Francisco artificial intelligence company at $80 billion or more, nearly tripling its valuation in less than 10 months, according to three people with knowledge of the deal. The company would sell existing shares in a so-called tender offer led by the venture firm Thrive Capital, the people said. The deal lets employees cash out their shares in the company, rather than a traditional funding round that would raise money for business operations. The deal is another example of the Silicon Valley deal-making machine pumping money into a handful of companies that specialize in generative A.I. The funding boom kicked off early last year, after OpenAI captured the public’s imagination with the release of the online chatbot ChatGPT.

Persons: OpenAI Organizations: SpaceX Locations: San Francisco

☆ TikTok is pissing everyone off right now. Here's how its brute-force tactics could pay off — or backfire.
▼ + stars: | 2024-02-15 | by ( Dan Whateley | Sydney Bradley | ) www.businessinsider.com time to read: +7 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The move was an about-face for the president, whose administration had spent years calling it a national security risk. AdvertisementIt’s been deep in a public spat over music licensing with one of its most important partners, Universal Music Group. Some users have said it’s ruining the app by promoting shopping over the funny skits and dancing videos that first made TikTok popular. For leaders at ByteDance, who often have the final say over product decisions at TikTok, copying ideas from Douyin to TikTok is part of their playbook.

Persons: —, TikTok, Joe Biden, Biden, Brandon, TikTok isn’t, it's, Taylor Swift, Olivia Rodrigo, UMG, ” TikTok, it’s, TikTok's, ByteDance, It’s, Meghana, Pissing, ” Michael Huppe, Katie Notopoulos, ” Dhar Organizations: Service, White, Business, Universal Music Group, Music, Black, Facebook, Google, Big Tech, ”, YouTube, Shopping Network Locations: TikTok, Washington, Meghana Dhar, China, ByteDance

☆ TikTok offers opportunities, and risk, for Biden as his campaign reaches out to young voters
▼ + stars: | 2024-02-14 | by ( Arit John | Camila Dechalus | ) edition.cnn.com time to read: +9 min

A new source for newsFor the Biden campaign, joining the social media site presents the possibility for modest rewards but also high risks. “The campaign is now on TikTok because frankly that’s where people are,” Biden campaign spokesperson Seth Schuster said in a statement to CNN. Those concerns have kept the White House off the app and may have delayed the Biden campaign’s decision to join. “It’s a meaningful signal that the Biden campaign acknowledges the power that young voters will have in November and prioritizes engagement with us,” said Jack Lobel, the national press secretary for Voters of Tomorrow. “This technique would’ve been successful, in my opinion, if he actually listened to young voters,” said.

Persons: CNN —, Biden, Donald Trump, Joe Biden’s, Brandon, Robert Hur’s, ”, Cate Domino, ” Biden, Pew, Seth Schuster, John Kirby, Jeff Jackson of, Sen, John Fetterman, Republican Mehmet Oz, “ It’s, Annie Wu Henry, – Biden, Harris, –, Michael Tyler, Rob Flaherty, Beau, “, ” Tyler, “ Joe Biden, Jack Lobel, ” Young, Kamala Harris, Ariana Afshar, TikTok, Israel, Claire Simon, Biden …, isn’t, Trump, Kasey O’Brien, Henry Organizations: CNN, TikTok, Public, Alliance for Youth, Democratic, Biden, Trump, Pew Research, “, Republicans, ByteDance, National Security, Pennsylvania Democrat, Republican, MAGA Republicans, Super Bowl Locations: Gaza, Jeff Jackson of North Carolina, Pennsylvania, Israel, California, Rafah, “, you’re

☆ Indonesia's GoTo denies merger talks with ride-hailing rival Grab
▼ + stars: | 2024-02-14 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

Photographer: Dimas Ardian/Bloomberg via Getty ImagesIndonesian tech giant GoTo on Tuesday denied it is in merger discussions with Singapore-based ride-hailing rival Grab . "The company would also like to emphasize that currently, the company is not having any discussion on such matters," said GoTo in a Tuesday filing. "The company would like to emphasize that the company has an increasingly strong fundamentals and financial position," said GoTo. The firm added that it has achieved "positive adjusted EBITDA target in Q4 2023, while exceeding the top end of its full year adjusted EBITDA guidance range." Grab closed 1.2% lower on the Nasdaq on Tuesday amid a broader sell-off in U.S. markets.

Persons: Indonesia's GoTo, Dimas Ardian, GoTo Organizations: ByteDance, Indonesia's, Bloomberg, Getty, Nasdaq Locations: Jakarta, Indonesia, Singapore, U.S

☆ TikTok, Facebook and YouTube sued by New York City for alleged harm to kids' mental health
▼ + stars: | 2024-02-14 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +4 min

The suit alleges that Meta , Snap , ByteDance and Google (whose parent company is Alphabet ) knowingly "designed, developed, produced, operated, promoted, distributed, and marketed their platforms to attract, capture, and addict youth, with minimal parental oversight." They claim that New York's school districts and various health and social services have been severely impacted by children who have suffered negative mental health consequences stemming from their use of popular social media apps. "In collaboration with youth, mental health and parenting experts, we've built services and policies to give young people age-appropriate experiences, and parents robust controls." New York's lawsuit echoes similar allegations made against Meta, Snap, TikTok and Alphabet in litigation filed in 2022 in the Northern District of California. Meanwhile, a coalition of over 40 attorneys general filed a joint federal lawsuit against Meta alleging that its products are addictive and harm mental health.

Persons: Eric Adams, Adams, we've, Meta, it's, Snapchat, Mark Zuckerberg, Shou Zi Chew, Evan Spiegel Organizations: York City, Facebook, YouTube, Google, Meta, Northern District of, Social Locations: York, TikTok, U.S, New York, Los Angeles, California, Northern District, Northern District of California

RICHMOND, Va. (AP) — A GOP legislative effort to prevent Virginia children from using the popular video-sharing app TikTok — an idea backed by Republican Gov. Jay Leftwich of Chesapeake, was left in a House of Delegates committee after concerns were raised about how the ban would be enforced. Leftwich also said he brought the bill out of mental health and data privacy concerns for young people. “But I will not be supporting this bill because I think it’s unfair to single out TikTok,” she said. “We’ve long said bans, like the one proposed in this legislation, are not only the wrong approach, but also raise significant First Amendment concerns," Brown said.

Persons: Glenn Youngkin —, Republican Del, Jay Leftwich, Lawmakers, Youngkin, Leftwich, ”, —, Holly Seibold, Jamal Brown, We’ve, Brown, Macaulay Porter, “ Organizations: —, Republican Gov, Democratic, Republican, Inc, Commonwealth, TikTok Locations: RICHMOND, Va, Virginia, Chesapeake, Fairfax County, Commonwealth

☆ Apple and Microsoft clinch key win as iMessage, Bing exempted from tough EU competition rules
▼ + stars: | 2024-02-13 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

The decision is a win for Apple, whose iMessage service has long faced complaints from Android users due to incompatibilities. The EU's competition restrictions also won't apply to Microsoft's Bing and Edge browsers, as well as the Redmond tech giant's online advertising service, Microsoft Advertising. The Tuesday pronouncement does not mean that Apple and Microsoft themselves won't still be treated as gatekeepers under the EU rules. Late last year, the EU unveiled six designated gatekeeper that would be subject to its rules: Google, Amazon, Apple, Meta, Microsoft, and TikTok owner ByteDance. Apple recently opened up its App Store for third-party developers in Europe, which could threaten the iPhone giant's lucrative fees.

Persons: Microsoft's Bing, Meta's WhatsApp, ByteDance Organizations: European Commission, Apple, Facebook, Users, Redmond, Microsoft, CNBC, EU, EU Digital Markets, Meta Locations: Europe

☆ Wish's deep discount sale to Singapore's Qoo10 ramps up competition for Temu and Shein
▼ + stars: | 2024-02-12 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +3 min

Global online shopping platform Temu is already climbing the ranks in the U.S. Apple Store. The Temu marketing blitz, which blanketed Facebook and Instagram well before Sunday's Super Bowl, is also familiar to anyone who followed Wish. Qoo10 will now be taking on Temu and Shein, which both originated in China and still have strong ties to the world's second-biggest economy. During and shortly after the Super Bowl, Temu ran a handful of "shop like a billionaire" ads and touted $15 million in giveaways. WATCH: Temu sees fewer new users post Super Bowl

Persons: it's, Singapore's Qoo10, Wish, Peter Szulczewski, Szulczewski, China's ByteDance, Temu, Morgan Stanley Organizations: Apple, Super Bowl, Facebook, Los Angeles Lakers, PDD Holdings, Shein Locations: U.S, San Francisco, China

President Joe Biden's reelection campaign launched an official TikTok account Sunday evening. The account is noteworthy because TikTok is currently banned on most U.S. government-issued devices. The TikTok account, with the handle "@bidenhq," debuted Sunday during Lunar New Year celebrations in China and Super Bowl 58 in the U.S. Biden campaign advisors told NBC News the TikTok account is part of an effort to meet voters where they are. The Biden White House has carried on a love-hate relationship with TikTok since Biden took office.

Persons: Joe Biden, John F, Joe Biden's, TikTok, Biden, Shou Zi Chew, Jeffrey Yass, ratcheted Organizations: Kennedy International Airport, Super, China, Harvard Business School, TikTok's, Susquehanna International Group, Billionaire, U.S, NBC, Pew Research, Biden White Locations: New York City, U.S, China

☆ White House says no change to official TikTok policy after Biden campaign joins platform amid security concerns
▼ + stars: | 2024-02-12 | by ( Donald Judd | Michael Williams | ) edition.cnn.com time to read: +4 min

Washington CNN —The White House on Monday said there are no changes regarding the administration’s long-standing security concerns over TikTok after the President Joe Biden made his campaign debut on the platform Sunday night. In a follow-up exchange with Karine Jean-Pierre, the White House press secretary said she was not aware the campaign planned to launch a TikTok account ahead of Sunday. But there are security concerns around the popular video app, which is owned by ByteDance, a Chinese technology company. To date, the US government has provided no specific evidence that the Chinese government has accessed US TikTok user data. Both the Trump and Biden administrations have been somewhat aligned on their national security concerns pertaining to TikTok.

Persons: Joe Biden, John Kirby, ” Kirby, Karine Jean, Pierre, …, ”, Biden, Kelce ”, Travis Kelce, Jason, “, Travis Kelce’s, Taylor Swift, “ Trump, Biden’s, Brandon, Swift, TikTok, it’s, Trump Organizations: Washington CNN, National Security, White House, Kansas City Chiefs, San Francisco 49ers, Chiefs, Philadelphia Eagles, Biden, ByteDance, Texas, Trump, Foreign Investment Locations: Biden’s, Chinese, China, United States

☆ Growing quant giant Qube just added a fundraiser focused on Asian investors
▼ + stars: | 2024-02-12 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +2 min

This story is available exclusively to Business Insider subscribers. Sources familiar with the firm's plans told Business Insider that it hopes Hirazumi will help bring in assets to the firm’s China strategy. The manager has four Asian offices listed on its website, including one in mainland China in Shanghai, plus others in Hong Kong, Singapore, and Mumbai. It helps that performance has been stellar: The manager is already up roughly 10% through January this year, Business Insider previously reported . Another Millennium spin-out, Kurt Baker’s 30th Century Partners, is planning to start trading this year with $3 billion out of Hong Kong, according to a Bloomberg report.

Persons: Noriaki Hirazumi, Qube, Hirazumi, Ray Dalio, Blackstone, Jonathan Xiong, Kurt Baker’s Organizations: Research, Technologies, General Investment, London, Winton Group, Business, Credit Suisse, Public, Tiger, Investment Partners, Century Partners, Bloomberg Locations: Asia, London, Japan, China, Shanghai, Hong Kong, Singapore, Mumbai, Qube, Bridgewater

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