US News China probably does not want to agree to TikTok deal with Oracle and Walmart

10:15  22 september  2020
10:15  22 september  2020 Source:   finanzen.net

Price fireworks in the pharmaceutical industry: Dow Jones closes in the plus

 Price fireworks in the pharmaceutical industry: Dow Jones closes in the plus At the start of the week, US investors were in a buying mood. © Provided by Finanz.net Mario Vedder / Getty Images The Dow Jones ended the first trading day of the week with a strong plus of 1.18 percent to 27,992.64 points. mergers and acquisitions heated the mood on Wall Street on Monday. In addition, hopes of a soon available corona vaccine raised the mood. Against this background, investors mainly took advantage of the technology stocks that are sensitive to the economy.

Deal would "hurt China 's national security, interests and dignity," according to an editorial published in the Global Times newspaper. The deal between TikTok 's parent company ByteDance and U.S. tech company Oracle and Walmart requires approval from regulators in both Beijing and Washington

TikTok Deal Trips Over U.S.- China Power Struggle. WASHINGTON — A deal intended to address the Trump administration’s concerns about TikTok ’s ties to China was complicated on Monday by a disagreement over whether a U.S. company would control the social media app and the president’s

According to a Chinese newspaper, the government in Beijing will probably not agree to the planned restructuring of TikTok's US business.

Thomas Lohnes/Getty Images © Provided by Finanz.net Thomas Lohnes / Getty Images

The terms of the deal with US corporations Oracle and Walmart "violate China's national security, interests and dignity," the English edition said on Tuesday Comment in the "Global Times". "If this US manipulation-driven reorganization of TikTok catches on, every successful Chinese company will be targeted by the US as soon as it expands its business to the US and becomes competitive," it said. "Tricks and coercion" will then transform it into an American-controlled company.

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ByteDance’s deal with Oracle and Walmart allowed it to avert President Trump’s threat to ban TikTok in the US, where the app has 100 million users. The Trump administration has expressed concerns that TikTok user data could be shared with the Chinese government, allegations the app has denied.

SHANGHAI (Reuters) - China is unlikely to approve an "unfair" deal Oracle Corp (NYSE:ORCL) You can ruin TikTok 's U.S. business, if U.S. users do not object, but you Over the weekend, ByteDance, Oracle and Walmart said they had reached a deal that would satisfy Trump's call for TikTok to be

Chinese government officials did not respond to a request for comment. A previous agreement in principle provides for TikTok's US business to be merged into a separate company, to be called TikTok Global. However, it is unclear, among other things, whether the Chinese parent company ByteDance or US companies should have control. The US government is calling for the conversion on the grounds that the short video service can forward data to Chinese government agencies.

The arrangement announced over the weekend provides that Tiktok's data will be transferred to Oracle-operated US servers under the supervision of Oracle CEO Safra Catz. Catz was once in discussion for the position of Donald Trump's National Security Advisor. Oracle promised that Tiktok users' data would be safe. Reuters / Dow Jones Newswires

court suspends download stop for Tiktok in the USA .
© Andre M. Chang / ZUMA Wire / dpa More time for the Tiktok video app: A court has suspended the download stop in the USA. The popular video app Tiktok has more time to secure its future in the USA undisturbed. A court in Washington suspended the download stop with an injunction, which users would have felt on Monday. At the same time, the judge rejected Tiktok's request to take action against the threat of a complete shutdown for the app in the USA on November 12th.

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This is interesting!