TikTok-Oracle Deal Rests on Data Security, Ownership Details

In its deal with Oracle, ByteDance is angling for majority ownership of TikTok. “Conceptually, I can tell you I don’t like that,” responded President Donald Trump, who is still in favor of U.S. majority ownership of the app’s operations. Although Trump admitted he hadn’t been briefed on the specifics of the deal, Senate Republicans and others are concerned that it falls short of the original goal. A source stated that Treasury Secretary Steven Mnuchin aims to ensure that U.S. ownership is “well over 50 percent.” Meanwhile, the Commerce Department, at President Trump’s direction, announced this morning that TikTok and WeChat will be banned from app stores in the U.S. beginning on Sunday. Continue reading TikTok-Oracle Deal Rests on Data Security, Ownership Details

Nvidia Acquisition of SoftBank’s Arm Brings Rewards, Risks

Nvidia agreed to pay $40 billion — $21.5 billion in stock, $12 billion in cash — for SoftBank’s Arm division, a chip designer based in the United Kingdom. Nvidia will pay $2 billion on signing, and SoftBank will also receive $5 billion in cash or stock should Arm’s performance meet specific standards. Arm employees will receive $1.5 billion in Nvidia stock. This will be the biggest semiconductor industry deal since SoftBank paid $31.4+ billion to purchase Arm in 2016. The deal will also increase competition between Nvidia and Intel. Continue reading Nvidia Acquisition of SoftBank’s Arm Brings Rewards, Risks

More Details on Oracle’s Bid to Be TikTok’s Trusted Partner

Although Microsoft and Walmart’s joint bid was considered the leader to become the “trusted partner” of the U.S. operations of ByteDance’s social video app TikTok, cloud and platform services company Oracle has come out on top. The structure of the Oracle deal is still unknown, but one source said it will not be an “outright sale.” The White House and the Committee on Foreign Investment in the United States (CFIUS) still have to approve the proposal. President Trump stated he would ban TikTok if it isn’t sold by September 20. TikTok has about 100 million monthly users in the U.S. Continue reading More Details on Oracle’s Bid to Be TikTok’s Trusted Partner

Oracle-TikTok Deal Is Under Review by Federal Government

In an effort to avoid a ban in the U.S., popular social video platform TikTok aims to partner with cloud services company Oracle. TikTok parent ByteDance proposed a deal in which Oracle would serve as tech provider in the U.S., although details have not been revealed regarding any potential changes to TikTok’s ownership structure. ByteDance submitted the proposal to the U.S. Treasury Department and Secretary Steve Mnuchin announced plans to review it this week with a particular emphasis on security issues. If approved, the deal could make Oracle a major advertising player that is more relevant to younger audiences. Continue reading Oracle-TikTok Deal Is Under Review by Federal Government

Huawei to Sell Phones with Its Own OS and App Ecosystem

Next year, Huawei Technologies will begin to sell phones running its own operating system, HarmonyOS, and app ecosystem. After the Trump administration limited the Chinese company’s access to U.S.-originated components and chips built with U.S. technology, Huawei was cut off from all Google software. Nonetheless, in Q2, its phones were top sellers, beating out Samsung and Apple, mainly due to strong domestic sales. The beta version of its new phones will be available to app developers by the end of 2020. Continue reading Huawei to Sell Phones with Its Own OS and App Ecosystem

TikTok and U.S. Reportedly in Talks on Possible Partnership

According to sources, ByteDance and the U.S. government are discussing avoiding a full sale of TikTok’s U.S. operations. Although President Trump issued an executive order for ByteDance to do so by a November 12 deadline, the Chinese government restricted the export of AI technology, making the sale more difficult. One possibility is that TikTok will partner with a U.S. company that would help secure its data. Sensor Tower reported that, again, TikTok was the most downloaded non-gaming app globally in August 2020. Continue reading TikTok and U.S. Reportedly in Talks on Possible Partnership

China Presents Global Security Initiative to Counter U.S. Plan

Chinese foreign minister Wang Yi debuted an initiative to create standards for global data security, one month after the U.S. introduced the “Clean Network” program to protect data from “malign actors, such as the Chinese Communist Party.” U.S.-China relations have been deteriorating over trade issues and U.S. claims that Chinese technology threatens U.S. national security. Wang stated that “a certain country” is “bent on unilateral acts” and that “such blatant acts of bullying must be opposed and rejected.” Continue reading China Presents Global Security Initiative to Counter U.S. Plan

Samsung and Verizon Close Major Deal for 5G Network Gear

Samsung Electronics inked a $6.65 billion contract for 5G gear with Verizon Communications. With the agreement, which lasts until the end of 2025, Samsung will provide Verizon with network equipment, installation and maintenance, a boost to the South Korean company’s efforts to become a major 5G supplier. According to Dell’Oro Group, Samsung supplies 13 percent of the total 5G network market sales. Meanwhile, T-Mobile, which has launched a 600MHz 5G network, debuted 2.5GHz mid-band 5G towers in almost 90 locations. Continue reading Samsung and Verizon Close Major Deal for 5G Network Gear

Release of ‘Tenet’ Could Be a Bellwether for Movie Exhibitors

Major Hollywood movies are finally being released in movie theaters, with “The New Mutants,” which had a $70+ million budget, and director Christopher Nolan’s “Tenet,” a $200 million thriller. But it’s still unclear how many people in the U.S. feel safe enough to go inside. Abroad, “Tenet” raked in $53 million on its opening day weekend from 41 global markets, a source of optimism for Warner Bros. (the film opens in the U.S. and China this week). Pirates have been foiled, meanwhile, fooled into downloading fake torrents of the blockbuster. Continue reading Release of ‘Tenet’ Could Be a Bellwether for Movie Exhibitors

Some States Say Amazon Is Liable for Third-Party Products

When Angela Bolger’s laptop caught fire due to a replacement battery she bought on Amazon, she suffered third-degree burns and filed a lawsuit against the popular e-commerce site. Amazon responded by providing a refund for the battery. Until recently, Amazon has successfully fought off such liability suits. The stakes are high since almost 60 percent of all physical goods on its site now come from third-party sellers. The courts have traditionally sided with Amazon, but recent cases from a few states are changing that trend. Continue reading Some States Say Amazon Is Liable for Third-Party Products

ByteDance Considers Two Competing Offers for TikTok U.S.

ByteDance is expected to soon make a deal to sell TikTok’s U.S. operations to one of two groups of suitors: Microsoft, now teamed up with Walmart, or Oracle, potentially supported by a coalition of investors. According to sources, discussions are still “fluid.” Walmart entering the fray has changed the calculus; its background in digital sales could push TikTok to evolve to a platform with e-commerce integration. A sale to Oracle, however, might focus more on TikTok’s data to buttress its own advertising, cloud and data businesses. Continue reading ByteDance Considers Two Competing Offers for TikTok U.S.

New TikTok Chief Executive Departs Over U.S.-China Battle

TikTok chief executive Kevin Mayer quit the company only months after assuming the role. The company’s general manager Vanessa Pappas will become the interim chief. Sources stated that Mayer, formerly of Disney, decided to leave TikTok after President Trump issued a ban on the popular social platform unless its Chinese parent company ByteDance sold its assets to a U.S. company within 90 days. Mayer’s resignation letter stated that he had reflected on “what the corporate structural changes will require, and what it means for the global role I signed up for.” Continue reading New TikTok Chief Executive Departs Over U.S.-China Battle

White House to Invest $1+ Billion in AI, Quantum Computing

The White House is planning a $1+ billion, five-year investment to fund 12 new research facilities on artificial intelligence, 5G, quantum information sciences and other emerging technologies. Federal agencies such as the National Science Foundation and the U.S. Department of Agriculture will collaborate with private partners including major tech companies such as International Business Machines, Microsoft and others. The Trump administration proposes to spend 30 percent more on these technologies in the 2021 nondefense budget. Continue reading White House to Invest $1+ Billion in AI, Quantum Computing

Electronics Manufacturers Consider Building Plants in Mexico

As the U.S.-China trade war heats up, Taiwan-based electronics manufacturers including Foxconn and Pegatron are considering opening new factories in Mexico, South America’s second largest economy. Sources said Foxconn would manufacture Apple iPhones in Mexico but will make a final decision later this year. Apple would not comment. Pegatron is “in early discussions with lenders” for a Mexico facility to assemble semiconductors and other electronic components. This “near-shoring” would move supply chains away from China. Continue reading Electronics Manufacturers Consider Building Plants in Mexico

TikTok Takes a Stand, Stating Intent to Sue Trump Over Ban

Next week, TikTok plans to file a suit against the Trump Administration over its executive order to block the app, claiming that it has been “unfairly and incorrectly treated as a security threat.” TikTok spokesperson Josh Gartner noted that, “for nearly a year we have sought to engage in good faith to provide a constructive solution … what we encountered instead was a lack of due process.” TikTok is also trying to encourage its 1,500 U.S.-based employees, while putting aside plans to hire 10,000 more and open new offices. Continue reading TikTok Takes a Stand, Stating Intent to Sue Trump Over Ban

Page 1 of 3912345678910...2030...»