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.
Late on Saturday, Peter Navarro, director of the White House's office of trade and manufacturing policy, told Fox News that Trump would be taking action on TikTok on Sunday or Monday. "We are here for the long run. Continue to share your voice here and let's stand for TikTok," TikTok U.S. general manager Vanessa Pappas said in a video published on the app on Saturday.
ByteDance has been considering a range of options for TikTok amid U.S. pressure to relinquish control of the app, which allows users to create short videos with special effects and has become wildly popular with U.S. teenagers. Earlier this year, Chinese gaming company Beijing Kunlun Tech Co Ltd sold Grindr LLC, a popular gay dating app it bought in 2016, for US$620 million after being ordered by CFIUS to divest.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Exclusive: ByteDance offers to forgo stake in TikTok to clinch US deal - sourcesChina'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 ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
TikTok faces US breakup from Chinese parent as Microsoft circles: sourcesThe White House is preparing to force Chinese internet giant ByteDance to shed the U.S. operations of TikTok, as potential buyers, including ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Exclusive: TikTok owner ByteDance considers listing China business in Hong Kong or Shanghai - sourcesChinese tech giant ByteDance is considering listing its domestic business in Hong Kong or Shanghai, people familiar with the matter told Reuters, ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Trump says will ban TikTok amid pressure on Chinese owner to sell[NEW YORK] President Donald Trump said on Friday he would sign an executive order as soon as Saturday to ban TikTok in the United States, ratcheting up the pressure on the popular short-video app's Chinese owner to sell it. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Trump says will ban TikTok amid pressure on Chinese owner to sellPresident Donald Trump said on Friday he would sign an executive order as soon as Saturday to ban TikTok in the United States, ratcheting up the ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Trump says will ban TikTok amid pressure on Chinese owner to sellPresident Donald Trump said on Friday he would sign an executive order as soon as Saturday to ban TikTok in the United States, ratcheting up the pressure on the popular short-video app's Chinese owner to sell it. The move would be the culmination of U.S. national security concerns over the safety
Source: YahooSG - 🏆 3. / 71 Read more »