TikTok Plasters DC With Ads Before Skeptical Lawmakers Confront CEO
source link: https://finance.yahoo.com/news/tiktok-plasters-dc-ads-skeptical-171808158.html
Go to the source link to view the article. You can view the picture content, updated content and better typesetting reading experience. If the link is broken, please click the button below to view the snapshot at that time.
TikTok Plasters DC With Ads Before Skeptical Lawmakers Confront CEO
(Bloomberg) -- TikTok is intensifying its public-relations blitz days before its chief executive officer testifies on Capitol Hill this week, but congressional aides say there’s little he can say that will convince lawmakers the app can be insulated from Chinese influence.
Most Read from Bloomberg
The company bought ads in the Washington Metro system, at Union Station and in the Washington Post, and sponsored Politico’s Playbook newsletter as well as Axios’s tech-focused Login newsletter.
A four-page color ad in the New York Times on Monday included a QR code linking to TikTok’s US Data Security website, which features a cartoon video explaining how the company that operates the popular short-video app has invested $1.5 billion in security.
“Safety. Privacy Control. Your priority. Our commitment,” proclaimed one advertisement at Union Station. “We’re protecting your personal data and the integrity of the platform, while still allowing you to have the global TikTok experience you know and love,” says another.
The ad campaign was rolled out before CEO Shou Chew’s appearance before the House Energy and Commerce Committee on Thursday. Committee staff who briefed reporters before the hearing said lawmakers don’t believe the platform’s $1.5 billion investment in data security can protect the app ,owned by Beijing-based ByteDance Ltd., from Chinese influence.
The aides, who spoke to reporters on condition of anonymity before the testimony, picked apart elements of the plan, known as Project Texas, dismissing the proposal to house US data in domestic Oracle Corp. servers and allow auditing of TikTok’s recommendation algorithm.
- Reuters
Samsung wins jury trial in 'S10' trademark lawsuit
Samsung Electronics Co Ltd convinced a Los Angeles federal jury on Friday that its Galaxy S10 phones do not violate the trademark rights of a talent-management agency that also uses the "S10" name. The jury found that S10 Entertainment & Media LLC had not shown that Samsung's popular smartphones were likely to cause consumer confusion and drown out its brand in the marketplace, according to a court document published Monday. Representatives for Samsung and S10 did not immediately respond to requests for comment Monday.
40m ago - Reuters
US firm says Mexican authorities illegally seized its port terminal
U.S. construction materials company Vulcan Materials said on Monday Mexican security forces illegally took possession last week of its port terminal in southern Mexico, amid an extended lawsuit over its nearby limestone mining activities. The incident, which reportedly took place last Tuesday night at the U.S. firm's Sac Tun quarry about 7 miles (10 km) from the popular tourist resort of Playa del Carmen. It follows a 5-year fight with the Mexican government over Vulcan's concessions punctuated by sharp criticism from the country's president last year.
1h ago - Forkast News
Crypto data provider Kaiko to move Asia HQ to Hong Kong from Singapore: Bloomberg
Paris-based Kaiko will move its Asian headquarters to Hong Kong as it sees growing crypto-related opportunities in the city.
17h ago - Bloomberg
First Republic Dives 47% to Record Low on Downgrade, Bank Talks
(Bloomberg) -- First Republic Bank’s shares tumbled 47% to an all-time low after S&P Global lowered its credit rating for the second time in a week and as executives from major banks discussed fresh efforts to stabilize the lender.Most Read from BloombergUBS to Buy Credit Suisse in $3.3 Billion Deal to End CrisisCredit Suisse’s $17 Billion of Risky Bonds Are Now WorthlessThe One Big Winner and Many Losers of UBS’s Credit Suisse RescueMorgan Stanley Strategist Says Bank Stress Signals Bear Market
49m ago - Bloomberg
The 11 Days of Turmoil That Brought Down Four Banks And Left a Fifth Teetering
(Bloomberg) -- The speed with which four banks collapsed — and one continues to struggle — has left investors reeling. While the failures came in the span of just 11 days, the scenarios that brought them down were each unique.Most Read from BloombergUBS to Buy Credit Suisse in $3.3 Billion Deal to End CrisisCredit Suisse’s $17 Billion of Risky Bonds Are Now WorthlessThe One Big Winner and Many Losers of UBS’s Credit Suisse RescueMorgan Stanley Strategist Says Bank Stress Signals Bear Market EndS
5h ago - South China Morning Post
Xi Jinping calls for 'severe punishment' after Chinese killed in mine attack in Central African Republic
President Xi Jinping has called for "severe punishment" for those behind an attack on a gold mine in the Central African Republic that left nine Chinese nationals dead and two others injured on Sunday, China's foreign ministry said. In a statement on Monday, the foreign ministry said it had dispatched a team to the Chimbolo mine run by the Gold Coast Group, a Chinese company, following Xi's "important directive" that also called for the wounded to be rescued and treated. "Our ambassador ... has
14h ago - Investor's Business Daily
DWAC Stock Under The Microscope As Donald Trump Expects Arrest Tuesday
A Manhattan grand jury is expected to indict Donald Trump. How will DWAC, the special acquisition looking to take Truth Social public, respond?
3h ago - Decrypt Media
Florida Governor Ron DeSantis Introduces State Legislation Banning CBDCs
DeSantis said CBDCs are all about “surveilling” and “controlling” the populace.
3h ago - MoneyWise
Feeling cold and cash-strapped on the first day of spring? These 4 hot states won't tax your pension income at all — no matter how old you are or how much money you've got
You earned that money, might as well hold onto it.
12h ago - Bloomberg
Warren Says She Favors Increasing FDIC’s Deposit Insurance Cap
(Bloomberg) -- Senator Elizabeth Warren is calling for more US deposits to be covered by federal insurance and demanding government probes into whether lax regulation fueled this month’s collapse of Silicon Valley Bank and Signature Bank. Most Read from BloombergUBS to Buy Credit Suisse in $3.3 Billion Deal to End CrisisCredit Suisse’s $17 Billion of Risky Bonds Are Now WorthlessWarren Buffett in Contact With Biden Team on Banking CrisisCredit Suisse Said to Push Back Against UBS’s $1 Billion Of
1d ago - Reuters
The canary is alive and chirping a year into Fed's rate hiking cycle
Utah homebuilder Ivory Homes still has a pipeline of several hundred houses under construction, but CEO Clark Ivory isn't pulling permits for any more at this point, and in a year of retrenchment for the single-family home industry, he has laid off just under 10% of his workers. But don't look for that to be reflected in overall U.S. construction employment or spending data, a canary that is very much still breathing inside what would usually be the toxifying air of rising U.S. interest rates. While housing starts are falling, "there is still a fair amount of completion happening," Ivory said, adding that contractors can move on to other jobs once finished with his company's projects.
4h ago - Reuters
UPDATE 1-White House urges China's Xi to press Putin on Ukraine
The White House urged Chinese President Xi Jinping on Monday to use his visit to Moscow this week to tell Russian President Vladimir Putin to respect Ukraine's sovereignty and end Russia's war against Ukraine. John Kirby, the White House national security spokesperson, told reporters the United States is concerned that Xi, currently on a trip to Moscow, will reiterate calls for a ceasefire that would leave Russian forces inside Ukrainian sovereign territory.
4h ago - Reuters
Baidu's Ernie writes poems but says it has insufficient information on Xi, tests show
Baidu's Ernie bot can within seconds generate pictures of flowers and write Tang dynasty-style poems but will decline questions about Chinese President Xi Jinping by saying it has not yet learnt how to answer them, Reuters tests showed. The Chinese search engine giant last week unveiled China's closest rival to OpenAI's chatbot ChatGPT and from Thursday allowed users to apply for access to it. Some analysts and users soon began posting positive reviews of their experiences with Ernie bot, and side-by-side comparisons with ChatGPT, that drove Baidu's share price higher.
13h ago - Yahoo Finance
Fed decision, banking fallout, and Credit Suisse: What to know this week
The Federal Reserve's latest policy decision will come Wednesday afternoon as investors have endured what have been two of the most turbulent weeks for the financial sector since the 2008 crisis.
1d ago - The Telegraph
Can the British military really stand up to China?
In sunny San Diego last Monday, Anthony Albanese, Rishi Sunak and Joe Biden shook hands on the Australia-UK-US (Aukus) deal.
2d ago - MoneyWise
Saudi Arabia says it's 'open' to the idea of trading in currencies besides the US dollar — does this spell doom for the greenback? 3 reasons not to worry
Can't get rid of U.S. that easily.
1d ago - Yahoo Finance
The Fed now faces same destination — with a more treacherous path
After an incredibly volatile couple of days, stocks ended higher last week, with the S&P 500 rising 1.4%. The index is now up 2.0% year to date, up 9.5% from its October 12 closing low of 3,577.03, and down 18.3% from its January 3, 2022 closing high of 4,796.56.
7h ago - The Wall Street Journal
Macron’s Government Survives No Confidence Vote in National Assembly
The French president fended off an effort to halt his contentious pension revamp and topple his administration.
3h ago - The Wall Street Journal
SVB Collapse Shows Smaller Banks Can Pose Risk in Numbers
WASHINGTON—For 15 years, regulators and legislators have assumed the biggest risks to the financial system came from a handful of “too big to fail” banks. This month’s failure of Silicon Valley Bank and Signature Bank—and last week’s bank-led rescue of a third lender, First Republic Bank —suggests that focus on size may have blinded officials to the threat posed by smaller lenders, observers and former regulators say. Since the 2008 crisis, the Federal Reserve saved its most significant tests for the largest global banks.
6h ago - Quartz
Protests against government policies are roiling all four corners of Africa
Countries in the four cardinal points of Africa witnessed much tumult today (March 20).
9h ago - Reuters
VW's Skoda would cut 3,000 jobs if 'Euro 7' implemented in current form
Czech carmaker Skoda would have to cut 3,000 jobs and axe some models if the European Union's "Euro 7" emissions scheme is implemented in its current form, a Skoda board member warned in a TV debate on Sunday. Daimler Trucks chief Martin Daum for instance said on March 10 it would cost the industry "billions". "If (Euro 7) is approved in this shape, it would mean for Skoda Auto to close one plant, because we would stop producing the smaller models - Fabia, Scala, Kamiq - that means 3,000 jobs (would be) hit at least," Martin Jahn, a board member of Skoda, which is part of Volkswagen, said in a televised debate.
1d ago - MarketWatch
Putin makes surprise trip to Russian-occupied Mariupol following war-crimes charges
Russian President Vladimir Putin visited the occupied port city of Mariupol, his first trip to Ukrainian territory that Moscow illegally annexed in September and a show of defiance after the International Criminal Court issued a warrant for his arrest on war crimes charges.
1d ago - CoinDesk
It’s ‘Critical’ Crypto Innovation Stays in U.S., Former White House Adviser Says
If crypto and financial developments move overseas, it could be a threat to U.S. national security, Carole House, co-author of President Biden’s executive order on crypto, said.
5h ago - MarketWatch
Fighting climate change will take ‘everything, everywhere, all at once,’ say U.N. scientists
U.N. climate update says 'everything, everywhere, all at once' approach should include slashing carbon pollution from coal, oil and gas by two-thirds by 2035.
6h ago - Reuters
Uber, Lyft trade group questions Biden's labor nominee's gig workers stance
Rideshare and delivery companies want the Biden administration's nominee for the Department of Labor to clarify her position on an incoming worker-classification rule that could expand workers' rights, a trade group representing the companies said on Monday. The Department of Labor in October proposed a rule that would make it more difficult for companies to treat workers as independent contractors, which would shake up ride-hailing, delivery and other industries that rely on gig workers. The Flex Association, which represents companies such as Uber and Lyft, sent a letter to Biden on Monday asking that his nominee to lead the U.S. Department of Labor, Julie Su, explain how she would implement the proposed rule in a "manner that protects independent work."
9h ago - The Wall Street Journal
Russia Launches Push for Eastern City as It Struggles to Regain Military Initiative
Moscow is seeking to surround Avdiivka, but is facing heavy losses and running out of reserves, Ukraine’s military says.
1h ago - The Wall Street Journal
First Republic Bank Looms Large for U.S. Regulators After Credit Suisse Sale
Treasury Secretary Janet Yellen and Fed Chair Jerome Powell are seeking to reassure investors to halt a slide in financial stocks.
1d ago - Reuters
Did SVB break the Fed? Officials mull risks of more rate increases
At an early January meeting of the Virginia Bankers Association, executives were already nervous that Federal Reserve interest rate increases were making it hard to compete for deposits. "Everywhere I go in the industry people are feeling that kind of pressure," the featured speaker of the day, Richmond Fed President Thomas Barkin, said in response to a question from the audience. The influence of Fed rate hikes "is going to hit...That is how it is designed."
13h ago - The Wall Street Journal
Vladimir Putin Harshly Criticizes West as Xi Jinping Strikes Softer Tone
The leaders wrote that relations between Russia and China are approaching new heights ahead of President Xi Jinping’s visit to Moscow.
22h ago - MarketWatch
Manhattan D.A. says rhetoric won’t intimidate his office, as Trump charges loom
Manhattan District Attorney Alvin Bragg is standing firm against Donald Trump’s increasingly hostile rhetoric, telling his staff that the office won’t be intimidated or deterred as it nears a decision on charging the former president.
1d ago - Reuters
US Senator Warren criticizes Fed, calls for probe into SVB failure
WASHINGTON (Reuters) -U.S. Senator Elizabeth Warren on Sunday called for an independent probe into the recent failures of Silicon Valley Bank and Signature Bank and took specific aim at the head of the Federal Reserve Bank of San Francisco responsible for oversight of SVB.
2d ago - CBS MoneyWatch
Biden issues first veto, rejecting GOP-led bill to reverse investing rule
The resolution would have nixed a Labor Department rule over how retirement plan managers pick investments.
5h ago - Decrypt Media
Venezuela's Crypto Regulator, Targeted with $5M Bounty, Removed and Arrested
Joselit Ramirez is out, Anabel Pereira Fernandez is in, as SUNACRIP is restructured by decree of President Nicolas Maduro.
1d ago - The Wall Street Journal
Economy Week Ahead: U.S. Interest Rates and Housing Market in Focus
The Federal Reserve deliberates on monetary policy as it confronts high inflation and financial instability.
2d ago - Reuters
UPDATE 1-US authorizes another $350 million in military aid to Ukraine
The United States is authorizing another $350 million in military aid for Ukraine, U.S. Secretary of State Antony Blinken said on Monday, as Kyiv builds up its arsenal for an anticipated counter-offensive against Russian forces. "This military assistance package includes more ammunition for U.S.-provided HIMARS and howitzers that Ukraine is using to defend itself, as well as ammunition for Bradley Infantry Fighting Vehicles, HARM missiles, anti-tank weapons, riverine boats, and other equipment," Blinken said in a statement.
6h ago - Reuters
TikTok hits 150 million U.S. monthly users, up from 100 million in 2020
WASHINGTON (Reuters) -TikTok said on Monday the short-video sharing app now has 150 million monthly active users in the United States, up from 100 million it said it had in 2020. The Chinese-owned app confirmed the figure ahead of TikTok CEO Shou Zi Chew's testimony set for Thursday before the House Energy and Commerce Committee. On Friday, six more U.S. senators backed bipartisan legislation to give President Joe Biden new powers to ban TikTok on national security grounds.
3h ago - The Wall Street Journal
China’s Xi Jinping Meets With Putin in Moscow as Beijing Casts Itself as Peacemaker
Chinese leader Xi Jinping’s visit to Russia this week is aimed in part at positioning Beijing as a potential mediator between Moscow and Kyiv—but with both sides gearing up for spring combat operations, neither is ready to talk about peace.
4h ago - CoinDesk
EU’s MiCA Crypto Law Debate Scheduled for April 18
A final vote on the bloc’s Markets in Crypto Assets Regulation, which brings in a new licensing regime, is due April 19.
12h ago - AP Finance
UK aims to send migrants to Rwanda in months if courts agree
Britain’s government said Sunday that it could start deporting asylum-seekers to Rwanda in the next few months — but only if U.K. courts rule that the controversial policy is legal. The Home Office said it was aiming to start flights “before the summer,” as Home Secretary Suella Braverman visited the east African country to reinforce the Conservative government’s commitment to the plan. In the Rwandan capital, Kigali, she met with President Paul Kagame and Foreign Minister Vincent Biruta, visited accommodation intended to house deportees from the U.K. and laid a brick at another housing development for migrants.
1d ago - The Wall Street Journal
IMF Approves $3 Billion Bailout for Sri Lanka
Colombo has been in talks to receive financial assistance from the International Monetary Fund since last spring.
4h ago
Recommend
About Joyk
Aggregate valuable and interesting links.
Joyk means Joy of geeK