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Team Biden Reportedly Warns TikTok Ban Unless Chinese Owners Divest Stake — Meta, Snap Shares Shoot Up
Wednesday, March 15, 2023 - 8:40pm | 576President Joe Biden's administration reportedly demanded that TikTok’s Chinese owners divest their stake in the popular application, failing which it would face a ban in the United States. What Happened: The Committee on Foreign Investment in the U.S., or Cfius,...
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UAE Spymaster Reportedly Buys Stake In TikTok At $220B Valuation Amid Possible US Ban
Wednesday, March 15, 2023 - 3:26am | 323ByteDance Ltd, the Chinese parent of TikTok, was valued at $220 billion in a private-market investment by a company controlled by United Arab Emirates spymaster Sheikh Tahnoon bin Zayed Al Nahyan. What Happened: Sheikh Tahnoon acquired a stake, valued in excess of $100 million, from existing...
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If TikTok Is Banned, Readers Overwhelmingly Say They'll Flock To One Specific App
Thursday, March 9, 2023 - 3:23pm | 678A Benzinga survey shows where U.S. TikTok users might shift their time and attention if the app, which is owned by Beijing-based ByteDance, is banned. Users were asked, “If TikTok is banned, which platform will you use more?” The results were: Instagram: 38.3% Twitter: 26.3%...
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Alibaba Restructures Local Consumer Business To Combat Meituan And Douyin Rivalry
Wednesday, February 22, 2023 - 8:11am | 422Alibaba Group Holding Limited (NYSE: BABA) consolidated certain operations in its local consumer services segment to cope with increased competition. Alibaba looked to merge its Koubei restaurant review feature into the Amap app, which provides a mobile digital map, navigation, real-time...
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Xi Jinping's Government Gearing Up To Buy 'Golden Shares' In Local Units Of Alibaba, Tencent: FT
Friday, January 13, 2023 - 12:32am | 501China is reportedly acting to take “golden shares” in local units of Alibaba Group Holding Ltd (NYSE: BABA) and Tencent Holdings Ltd (OTC: TCEHY) as part of the government’s efforts to have a greater role in overseeing the country’s large...
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5 Billionaires In The Top 25 You Didn't Know About
Wednesday, January 11, 2023 - 10:28am | 862The bear market in 2022 was a rough patch for billionaires around the world. Or at least, for their balance sheets. Last year’s annual ranking of the planet’s richest people by Forbes, featured 87 fewer people than in 2021, with the group losing a collective $400 billion on the heels of...
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China Taps Alibaba, Tencent To Beat US Sanctions
Wednesday, November 30, 2022 - 8:43am | 622China has enrolled tech giants Alibaba Group Holding Limited (NYSE: BABA) and Tencent Holding Ltd (OTC: TCEHY) to aid its efforts in designing semiconductor chips to reduce its dependence on Softbank Group Corp (OTC: SFTBF) (OTC: SFTBY)-owned Arm. Arm,...
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Alibaba Ditched Its Popular Singles Day Influencers For Corporate Entrepreneurs
Monday, October 24, 2022 - 9:19am | 448Alibaba Group Holding Limited (NYSE: BABA) kicked off its Singles Day extravaganza for the first time in years without its two mega sales stars, casting doubt over China's biggest shopping event and the performance of the brands, Reuters reported. Alibaba's extravaganza, built up...
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TikTok Parent Reportedly Seeking To Expand Music Service In Direct Challenge To Spotify, Apple
Thursday, October 13, 2022 - 2:18am | 443TikTok parent ByteDance Ltd reportedly wants to boost its music-streaming business and up the ante against industry heavyweights such as Spotify Technology S.A. (NYSE: SPOT). What Happened: ByteDance has started approaching music labels for its Resso...
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Great News For Alibaba And Peers As HSBC Finds The Sector Promising
Thursday, September 29, 2022 - 6:02am | 516HSBC Holdings, plc (NYSE: HSBC) found the outlook of some Chinese industries, from the internet to property, has turned brighter as it had priced in much of the bad news. HSBC identified four sectors in China that look promising, Bloomberg reports. The sectors included internet...
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TikTok Negotiates With US To Alleviate Their Security Concerns; Oracle Could Play An Important Role Here
Monday, September 26, 2022 - 9:53am | 625The U.S. preliminarily agreed to resolve national security concerns posed by the Chinese-owned video app TikTok just weeks before November's midterm elections. The two sides struggled over a deal allowing TikTok to change its data security and governance without requiring its owner, the...
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YouTube Does A TikTok: Shorts Creators Will Now Get Share Of Ad Revenue
Wednesday, September 21, 2022 - 1:22am | 483Alphabet Inc’s (NASDAQ: GOOGL) (NASDAQ: GOOG) video streaming platform YouTube announced “new ways” for its Shorts creators to make money on Tuesday. What Happened: The Sundar Pichai-led company said in a blog post that beginning early 2023, Shorts-...
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TikTok's Answer To BeReal Launches In Multiple Countries After US Debut
Tuesday, September 20, 2022 - 4:49am | 414TikTok’s answer to BeReal has reportedly begun to appear as a standalone app in several countries. What Happened: TikTok Now was launched in some regions outside the United States on Sept. 18, reported TechCrunch, citing data from digital and mobile intelligence...
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Will TikTok Get Banned In The US? Over 60% Of Benzinga's Twitter Followers Say This
Monday, September 19, 2022 - 1:41pm | 733Leading social platform TikTok has become one of the most downloaded and used apps around the world with growing interest in the U.S. Facing security concerns with links to China, the app faces a potential ban in the U.S. Here’s what Benzinga followers think could happen. What Happened: Owned...
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Snapchat, Facebook And TikTok Are Being Sued: Here's Why It's Different This Time
Saturday, August 20, 2022 - 1:40pm | 671Three popular social media networks are being sued over claims of creating mental health problems. Here are the key details. What Happened: Lawsuits have been filed by the Social Media Victims Law Center against Snap Inc (NYSE: SNAP) owned Snapchat, Meta Platforms Inc (NASDAQ: META) owned Facebook...