China Voices Strong Opposition to Any Forced Sale of TikTok
source link: https://finance.yahoo.com/news/china-voices-strong-opposition-forced-094511550.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.
China Voices Strong Opposition to Any Forced Sale of TikTok
(Bloomberg) -- China would firmly oppose any sale of TikTok forced by Washington, its Ministry of Commerce spokesperson said hours before the app’s leader goes to testify before the US Congress.
Most Read from Bloomberg
Forcing the owner to sell TikTok’s US operations would “seriously undermine the confidence of investors from all countries including China to invest in the US,” Shu Jueting of the Chinese ministry told reporters at a briefing Thursday. TikTok is owned by Beijing-based ByteDance Ltd., which US lawmakers have argued cannot be trusted with the personal data of American users.
Any TikTok sale or spinoff would amount to a technology export and would have to adhere to Chinese law and administrative approvals, Shu added. “The Chinese government will make decisions according to the law.”
TikTok Chief Executive Officer Shou Chew is set to testify before the House Energy and Commerce Committee on Thursday. He’s expected to address a slew of issues including kids’ mental health and allegations that TikTok could be used to spy on Americans or to push Chinese Communist Party propaganda.
At stake is TikTok’s most lucrative market — the app doesn’t operate at home in China, where ByteDance runs sister app Douyin, and it’s banned in India — and indications ahead of the testimony are that the legislators are unlikely to be swayed. Many of the arguments that Chew plans to present are also reiterations of points the company has raised in the past.
READ: TikTok CEO Chew Set to Enter a Washington Fight He Can’t Win
The US has told TikTok’s owners in China to sell up or risk a ban of the popular video-sharing app, Bloomberg has reported, marking a major escalation in the long-running standoff over privacy concerns around Chinese control of its data and algorithm.
- Bloomberg
Tata Group Mulls Injecting $2 Billion Into Super-App Venture
(Bloomberg) -- Tata Group is considering injecting another $2 billion of fresh capital into its super app venture as the salt-to-software conglomerate seeks to bolster its digital business, according to people familiar with the matter.Most Read from BloombergFinally, a Serious Offer to Take Putin Off Russia’s HandsAckman Warns of Accelerated Deposit Outflows After Fed DecisionShort Seller Hindenburg Says ‘Another Big One’ Coming SoonUS Fears a War-Weary World May Embrace China’s Ukraine Peace Bi
4h ago - Bloomberg
China Hawks Dine on Seared Branzino And Lament Threat to US
(Bloomberg) -- Peter Thiel likened US-China ties to a codependent marriage and lamented the rise of TikTok at a dinner for venture capitalists and lawmakers a day before the app’s chief executive testifies on Capitol Hill.Most Read from BloombergFinally, a Serious Offer to Take Putin Off Russia’s HandsAckman Warns of Accelerated Deposit Outflows After Fed DecisionShort Seller Hindenburg Says ‘Another Big One’ Coming SoonUS Fears a War-Weary World May Embrace China’s Ukraine Peace BidBomb Threat
8h ago - Bloomberg
Tencent Soars As Traders Cite Unfounded Talk of Official’s Visit
(Bloomberg) -- Tencent Holdings Ltd. surged more than 8%, the most in about four months, as traders cited unsubstantiated talk that newly installed Premier Li Qiang toured the Chinese social media leader’s headquarters.Most Read from BloombergFinally, a Serious Offer to Take Putin Off Russia’s HandsAckman Warns of Accelerated Deposit Outflows After Fed DecisionShort Seller Hindenburg Says ‘Another Big One’ Coming SoonUS Fears a War-Weary World May Embrace China’s Ukraine Peace BidBomb Threat Cal
4h ago - Reuters
China travel rebound bets turn toward airports, away from airlines
Investors hoping to cash in on a boom in Chinese travel after nearly three years of pandemic lockdowns are shifting into airports, hotels and duty-free operators and away from airlines subject to fluctuating fuel prices and more intense competition. The first wave of bullishness as China began abandoning its zero-COVID policy in December lifted airline stocks and online travel agencies like Trip.com Group Ltd. But with global airlines being slow to add capacity to connect China with the U.S. and Europe and Chinese travellers preferring trips closer to home, a new set of stocks is benefiting.
6h ago - Reuters
Chip plants in China won't be forced to shut if firms receive US funding, says S.Korea
SEOUL (Reuters) -South Korea's trade ministry said on Wednesday that the United States' proposed rules to prevent $52 billion in chip funding from being used by "countries of concern" will not force recipients to shut down their China factories. The U.S. Commerce Department on Tuesday proposed limits for recipients of U.S. chip manufacturing and research funding, including limits on investing in expansion in countries such as China and Russia. The world's largest and second-largest memory-chip makers, Samsung Electronics and SK Hynix, have chip production facilities in China.
1d ago - The Wall Street Journal
Why Bosses Who Praised Remote Work Sour on Productivity From Home
Some companies that touted the virtues of flexible work setups now say it is a liability in a slowing economy.
9h ago - Engadget
TikTok CEO to Congress: ‘ByteDance is not an agent of China’
TikTok CEO Shou Chew is preparing to tell lawmakers that there are many “misconceptions” about the app, and that banning it will damage the United States economy.
19h ago - Yahoo Finance
TikTok hearing live blog: Here's what to expect
TikTok CEO Shou Chew will appear before the House Commerce Committee on March 23 for what is expected to be an explosive hearing about the app's future.
1h ago - Yahoo Finance
A TikTok ban would mean losing more than viral dance videos
A ban on TikTok could have implications for free speech, creators, advertisers, and even politicians.
18h ago - Reuters
GLOBAL MARKETS-Stocks, bond yields fall as Fed, with eye on inflation, signals pause
U.S. stocks fell from near two-week highs on Wednesday after Federal Reserve Chair Jerome Powell re-stated his commitment to curb inflation even as the Fed signaled it might soon pause future interest rate hikes amid recent turmoil in financial markets. As expected by many investors, the Fed raised interest rates by 25 basis points, and omitted from saying in its latest policy statement that "ongoing increase" in rates will likely be appropriate. Markets initially interpreted the omission as a sign that rates might be peaking, and drove Treasury yields to session lows after the Fed's statement was released.
15h ago - Bloomberg
Investors Turn More Bearish on Stocks After Fed, Survey Shows
(Bloomberg) -- Investors are convinced the Federal Reserve will hike again this year and won’t pivot to monetary easing until 2024 — an outlook they see as bearish for stocks.Most Read from BloombergFinally, a Serious Offer to Take Putin Off Russia’s HandsAckman Warns of Accelerated Deposit Outflows After Fed DecisionShort Seller Hindenburg Says ‘Another Big One’ Coming SoonUS Fears a War-Weary World May Embrace China’s Ukraine Peace BidBomb Threat Called In to New York Court Where Trump Hearing
6h ago - Bloomberg
Former Goldman Trader Looks to Sell Bonds on the Blockchain
(Bloomberg) -- A crypto brokerage founder says he has a new way to revolutionize the world of high finance: selling government and corporate bonds to investors online, using digital currency technology to track transactions.Most Read from BloombergFinally, a Serious Offer to Take Putin Off Russia’s HandsBomb Threat Called In to New York Court Where Trump Hearing HeldAckman Warns of Accelerated Deposit Outflows After Fed DecisionA New Chapter of Capitalism Emerges From the Banking CrisisStocks Ro
19h ago - Fox Business
Home Depot founder shares 'brutal' truth about Fed, urges entire board to resign
Home Depot co-founder and billionaire entrepreneur Ken Langone goes on a rampage over the Federal Reserve's "painful" inflation response, and explains why the board should resign.
19h ago - Yahoo Finance
Emerging Social Security proposals may fall short on addressing retirement crisis
The proposals may unintentionally hurt those least prepared for retirement.
15h ago - Bloomberg
Differing Powell and Yellen Messages Were a Lot for the Stock Market to Digest
(Bloomberg) -- Traders are accustomed to a bumpy ride whenever Jerome Powell speaks. But when Powell speaks at the same time Janet Yellen is talking to Congress about the health of the banking sector, the turbulence can get overwhelming.Most Read from BloombergFinally, a Serious Offer to Take Putin Off Russia’s HandsAckman Warns of Accelerated Deposit Outflows After Fed DecisionShort Seller Hindenburg Says ‘Another Big One’ Coming SoonUS Fears a War-Weary World May Embrace China’s Ukraine Peace
13h ago - AP Finance
Russia's security chief blasts West, dangles nuclear threats
A top Russian security official warned Thursday about the rising threat of a nuclear war and blasted a German minister for threatening Russian President Vladimir Putin with arrest, saying that such action would amount to a declaration of war and trigger a Russian strike on Germany. Dmitry Medvedev, the 57-year-old deputy secretary of Russia’s Security Council chaired by Putin, said in video remarks to reporters that Russia's relations with the West have hit an all-time bottom.
37m ago - The Wall Street Journal
Big Oil Eyes New Deals in North Africa Amid Rising Energy Demand
Halliburton and Honeywell are in advanced talks to develop oil fields and refineries in Libya, while Eni is importing more oil and gas from Algeria.
4h ago - Reuters
Yellen says not considering 'blanket insurance' for all U.S. bank deposits
WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen told lawmakers on Wednesday that she has not considered or discussed "blanket insurance" to U.S. banking deposits without approval by Congress as a way to stem turmoil caused by two major bank failures this month. Her comments before a Senate Appropriations subcommittee hearing dashed industry hopes for a quick government guarantee to stem the threat of further bank runs and contributed to a 15.5% fall in the shares of struggling First Republic Bank on Wednesday. Some banking groups have urged the Biden administration and the Federal Deposit Insurance Corp (FDIC) to temporarily guarantee all U.S. bank deposits, a move they say will help quell a crisis of confidence after the failure of Silicon Valley Bank and Signature Bank.
18h ago - Fortune
Bill Ackman blasts Yellen’s rejection of full deposit insurance: A ‘guarantee is needed to stop the bleeding’
Bill Ackman said he would be “would be surprised if deposit outflows don’t accelerate effective immediately.”
4h ago - Fortune
‘Ghost jobs’ are the latest thing workers need to worry about: That role you’re applying for might actually be fake
If you’ve ever applied to a job only to hear back that the company isn’t actually hiring for the listing, you're the victim of a ghost job.
1d ago
Recommend
About Joyk
Aggregate valuable and interesting links.
Joyk means Joy of geeK