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TikTok

Kimberly Redmond | Equities.com |

An ill-conceived plan for Oracle Corp and Walmart Inc to take over popular video app TikTok’s U.S. operations has been shelved indefinitely while the White House conducts a broader review of potential security risks posed by Chinese tech companies, The Wall Street Journal reported.

During a press briefing Wednesday, White House press secretary Jen Psaki said President Joe Biden’s administration has taken no “proactive” steps related to the proposal and that they are evaluating risks to U.S. data, including any involving TikTok.