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

Trump’s Orders Ban U.S. Transactions With TikTok, WeChat

The Trump administration released two executive orders late last week barring transactions with WeChat and TikTok “by any person or involving any property subject to the jurisdiction of the United States.” The orders go into effect in 45 days, essentially creating a deadline for Microsoft to complete its deal to acquire the Chinese app TikTok by September 15. As he has in the past, President Donald Trump accused Tencent’s WeChat and ByteDance’s TikTok of funneling U.S. consumers’ data to the Chinese Communist Party. Continue reading Trump’s Orders Ban U.S. Transactions With TikTok, WeChat

Pentagon Nixes Commerce Dept. Efforts to Rein in Huawei

The Pentagon has overruled the U.S. Commerce Department’s efforts to make it more difficult for U.S. companies to sell to Huawei Technologies from their overseas facilities. According to sources, the Defense Department and the U.S. Treasury Department also objected to the Commerce Department’s move. The Pentagon’s main concern is that if U.S. companies lose a significant source of revenue, they will be unable to fund research and development sufficiently enough to “maintain a technological edge.” Continue reading Pentagon Nixes Commerce Dept. Efforts to Rein in Huawei

At G20 Meeting, Europeans Push Enactment of a Digital Tax

At a meeting in Argentina of G20 finance ministers and central bankers, the Europeans pushed to advance global rules to tax the digital economy, contrary to the point of view of the U.S. delegation. The group’s final communiqué reiterated the body’s commitment to “address the impacts of the shift to a digital economy on the international tax system by 2020,” but gave no further details. Earlier this year, the European Commission proposed rules to make digital companies such as Amazon, Facebook and Google pay more taxes. Continue reading At G20 Meeting, Europeans Push Enactment of a Digital Tax