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WASHINGTON (Reuters) - The U.S Commerce Department said on Sunday it would “vigorously defend” an executive order that seeks to bar transactions with Chinese-owned short video-sharing app TikTok after a federal judge halted the action.

U.S. District Judge Wendy Beetlestone on Friday blocked the Commerce Department order set to take effect on Nov. 12 that would have effectively barred ByteDance-owned TikTok from operating in the United States.

The Commerce Department said on Sunday it would “comply with the injunction ... but intends to vigorously defend the (executive order) and the Secretary’s implementation efforts from legal challenges.”


AP News | Equities.com |

A federal judge on Sunday postponed a Trump administration order that would have banned the popular video sharing app TikTok from U.S. smartphone app stores around midnight.

A more comprehensive ban remains scheduled for November, about a week after the presidential election. The judge, Carl Nichols of the U.S District Court for the District of Columbia, did not agree to postpone the later ban.

The ruling followed an emergency hearing Sunday morning in which lawyers for TikTok argued that the administration’s app-store ban would infringe on First Amendment rights and do irreparable harm to the business.


Reuters | Equities.com |

China's ByteDance Ltd is seeking a valuation of $60 billion for TikTok as Oracle Corp and Walmart Inc take stakes in the short-video app's business to address U.S. security concerns, Bloomberg News reported on Sunday, citing an unnamed person familiar with the matter.

Oracle will take a 12.5% stake in TikTok Global and store all its U.S. user data in its cloud to comply with U.S. national security requirements, the companies said on Saturday. ...


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TikTok says it’s working to remove videos of a man apparently taking his own life and banning users who keep trying to spread the clips on the popular social media platform.

It’s the latest example of the ongoing struggle by big tech companies to police their platforms for harmful content amid increasing pressure from regulators.

The video was originally live-streamed on Facebook before being circulated on other platforms includ...


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China’s new rules around tech exports mean ByteDance’s sale of TikTok’s U.S. operations could need Beijing’s approval, a Chinese trade expert told state media, a requirement that would complicate the forced and politically charged divestment.ByteDance has been ordered by President Donald Trump to divest short video app TikTok in the United States amid security concerns over the personal data it handles.

Microsoft Corp and Oracle Corp are among th...


Reuters | Equities.com |

TikTok said on Saturday it plans to file a lawsuit on Monday against President Donald Trump’s executive order prohibiting transactions with the popular short video app and its Chinese parent ByteDance, confirming an earlier Reuters report.

Reuters exclusively reported on Friday that TikTok would challenge Trump’s executive order as early as Monday.

TikTok said it had tried to engage with the U.S administration for nearly a year, but faced “a lack of due p...


Equities Staff | Equities.com |

In a statement posted to its website today, TikTok said it was "shocked" by Trump's executive order issued Thursday to ban all transactions between TikTok's parent, ByteDance, and US citizens for national security reasons.

The order, which takes effect on Sept. 20, 2020, increases pressure on ByteDance to sell TikTok to a US company.

TikTok's data collection and sharing practices are standard in the industry, on par with companies like Apple, Google and Facebook, but Trump's order...


Reuters | Equities.com |

U.S. President Donald Trump said Monday the U.S. government should get a “substantial portion” of the sales price of the U.S. operations of TikTok and warned he will ban the service in the United States on September 15 without a sale.

The turnaround came after Trump Friday he said he was planning to ban the Chinese-owned video app’s U.S. operations as soon as Saturday after dismissing a possible sale to Microsoft.

Reuters reported last week that some investors are valuing TikTok at about $50 billion, citing people familiar with the matter.


Reuters | Equities.com |

President Donald Trump has agreed to give China’s ByteDance 45 days to negotiate a sale of popular short-video app TikTok to Microsoft Corp, two people familiar with the matter said on Sunday.

U.S. officials have said TikTok under its Chinese parent poses a national risk because of the personal data it handles. Trump said on Friday he was planning to ban TikTok in the United States after dismissing the idea of a sale to Microsoft.


Reuters | Equities.com |

SHANGHAI/SEOUL (Reuters) - Some K-pop stars’ accounts have been blocked from view on TikTok’s China version Douyin, Reuters’ checks showed on Friday, days after South Korea’s media regulator slapped fines on the short-video app for data privacy noncompliance.

The reasons for the blocks were unknown, but the move also comes after remarks by U.S. Secretary of State Mike Pompeo that the United States is “certainly looking at” banning Chinese social media apps, including TikTo...