Headline Roundup • August 1st, 2020
TikTok To Cut Ties with Chinese Parent Company After Trump Says He'll Ban TikTok in the U.S.
Summary from the AllSides News Team
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Associated Press
President Donald Trump says he will take action as soon as Saturday to ban Chinese-owned video app TikTok from the United States.
Trump made the announcement to reporters Friday on Air Force One as he returned from Florida.
“As far as TikTok is concerned, we’re banning them from the United States,” Trump said.
U.S. lawmakers have raised intelligence and privacy concerns about the company’s ownership. The company has denied allegations that it shares user data with the Chinese government.
The move comes as Trump has ratcheted up tensions with China...
Microsoft Corp. MSFT, +0.54% shares rose slightly Friday after multiple media reports that it is in talks to buy TikTok because President Donald Trump is set to order the dance app’s Chinese owner, ByteDance, to divest its ownership of TikTok’s U.S. operations.
Shares of Microsoft climbed about $2 after the news was first reported by Bloomberg, but closed up $1.11, or 0.5%, at $205.01 as the Wall Street Journal and others followed with similar reports, citing sources familiar with the negotiations.
Wedbush Securities said in a note to clients Friday...
NEW YORK/WASHINGTON — China's ByteDance has agreed to divest the U.S. operations of TikTok completely in a bid to save a deal with the White House, after President Donald Trump said on Friday he had decided to ban the popular short-video app, two people familiar with the matter said on Saturday.
U.S. officials have said TikTok under its Chinese parent poses a national risk because of the personal data it handles. ByteDance's concession will test whether Trump's threat to ban TikTok is a negotiating tactic, or whether he is intent...
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