Former Treasury Secretary Looking to Form Investor Group to Purchase TikTok
Video Credit: Wibbitz Top Stories - Duration: 01:31s - Published
Former Treasury Secretary Looking to Form Investor Group to Purchase TikTok
Former Treasury Secretary , Looking to Form Investor Group , to Purchase TikTok.
NBC reports that former Treasury Secretary
Steven Mnuchin is looking to put together an
investor group to acquire ByteDance's TikTok.
NBC reports that former Treasury Secretary
Steven Mnuchin is looking to put together an
investor group to acquire ByteDance's TikTok.
The news comes as a bipartisan bill works its
way through Congress that threatens to bring an
end to the platform's existence in the United States.
The news comes as a bipartisan bill works its
way through Congress that threatens to bring an
end to the platform's existence in the United States.
On March 13, the House of Representatives passed
the bill, which would force ByteDance to divest
the platform or face a ban on the app in the U.S.
I think the legislation should
pass and I think it should be sold.
It’s a great business and I’m going
to put together a group to buy TikTok, Steven Mnuchin, Former Treasury Secretary, via CNBC’s “Squawk Box”.
This should be owned by
U.S. businesses.
There’s no
way that the Chinese would
ever let a U.S. company own
something like this in China, Steven Mnuchin, Former Treasury Secretary, via CNBC’s “Squawk Box”.
NBC points out that the bill still requires Senate approval
before it heads to President Joe Biden, who has indicated
that he would support the bill if it passes through Congress.
NBC points out that the bill still requires Senate approval
before it heads to President Joe Biden, who has indicated
that he would support the bill if it passes through Congress.
However, TikTok CEO Shou Zi Chew has said
that selling TikTok is not a viable option.
.
According to PitchBook data, , ByteDance was valued at , $220 billion in 2023.
.
Mnuchin has yet to specify the potential valuation
of a deal to acquire the social media platform
or which investors may be interested in the deal.
At the same time, the 'Wall Street Journal' reported that
former Activision Blizzard CEO Bobby Kotick has also
expressed interest in a deal to purchase TikTok.
At the same time, the 'Wall Street Journal' reported that
former Activision Blizzard CEO Bobby Kotick has also
expressed interest in a deal to purchase TikTok
The United States paused a bomb shipment to Israel over fears of an impending full-scale assault on Gaza's Rafah. With concerns over civilian safety, the decision followed Israel's rejection of a Hamas truce offer. Despite ongoing military engagement, the Biden administration seeks to prevent escalation and review future military aid. The delicate balance highlights U.S. efforts to navigate regional stability and humanitarian concerns.
#UnitedStates #Gaza #RafahInvasion #USIsrael #BenjaminNetanyahu #JoeBiden #RafahOffensive #Worldnews #Oneindia #Oneindianews
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President Biden urgently cautioned Prime Minister Netanyahu against launching an offensive in Gaza's southern city of Rafah, fearing it would escalate the conflict and increase Palestinian casualties. Their call highlighted the growing divide between the two leaders amid mounting pressure for a ceasefire. Biden emphasised the need to avoid further despair in the war-torn region. Both leaders face public outcry, with Biden encountering protests on college campuses and Netanyahu under pressure from families of Israeli hostages.
#Israel #Biden #Netanyahu #RafahCrossing #USWarnings #IsraelHamasWar #Tensions #Geopolitics #MiddleEast #Diplomacy
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Join us for a compelling discussion as experts analyze the ongoing battle between the BJP and Congress in Uttar Pradesh. Explore the factors influencing voter sentiment, the effectiveness of campaign strategies, and the potential outcomes of this high-stakes electoral contest. Get insights, predictions, and expert opinions on the political dynamics shaping the fate of Uttar Pradesh.
#LokSabhaElections #Elections2024 #LSElections24 #Elections2024 #LokSabhaElectionPhase3 #UttarPradesh #Oneindia
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Walmart Reverses Course, , Closes Down Its , Walmart Health Division.
NBC reports that Walmart has announced
it will close all 52 of the doctor-staffed
health clinics the company operates.
The announcement comes as
part of the company's decision to
shut down its Walmart Health Initiative.
Clinics that will close down are located in
Arkansas, Florida, Georgia, Illinois and Texas. .
On April 30, the company also said it would
begin winding down its virtual care service.
The decision to end the Walmart Health Initiative
will not reportedly impact Walmart
pharmacies and vision centers.
Walmart said that it will work to direct current patients
to other providers covered by their insurance
networks to ensure they continue to receive care.
NBC reports that the news comes as a swift
reversal of Walmart's plan to expand its number
of doctor-staffed clinics to 70 by the end of 2024.
Through our experience managing
Walmart Health centers and
Walmart Health Virtual Care,
we determined there is
not a sustainable business
model for us to continue, Walmart statement, via NBC.
Other nontraditional health care
providers have also been forced to
reconsider their plans in recent years. .
Last month, Walgreens announced that it would
close 140 of the company's primary care clinics,
along with plans to shut down 20 more.
Credit: Wibbitz Top Stories Duration: 01:30Published
Law Enforcement Hiring , Increased in 2023 , Following Years of Decline.
NBC reports that police departments in the United States
have seen their first increase in ranks, changing course
on a historic exodus of officers in recent years.
According to a recent survey,
2023 saw more officers sworn in
than any of the previous four years. .
At the same time, the survey by the Police Executive
Research Forum (PERF) also found that fewer law
enforcement officers resigned or retired in 2023. .
Law enforcement numbers had been declining following
the COVID pandemic and nationwide protests against
police brutality following the death of George Floyd. .
Law enforcement numbers had been declining following
the COVID pandemic and nationwide protests against
police brutality following the death of George Floyd. .
I just think that the past four
years have been particularly
challenging for American policing.
And our survey shows we’re
finally starting to turn a corner, Chuck Wexler, Executive director of PERF, via NBC.
NBC reports that declining numbers left
many police departments with a shortage of
officers, which resulted in slower response times.
Chuck Wexler, executive director of PERF, warns that many police departments are still struggling to recruit and retain officers.
According to Wexler, law enforcement , "isn't out of the woods yet.".
At least a dozen smaller police departments in
the nation have been forced to disband, leaving those
municipalities reliant upon state or county police forces.
NBC reports that in addition to increased pay and
benefits, many police departments have chosen to
change application requirements to increase hiring
Credit: Wibbitz Top Stories Duration: 01:31Published
Elon Musk , Loses Appeal of , 'Twitter Sitter' Provision .
On April 29, the Supreme Court denied billionaire
Elon Musk's challenge to the terms of a Securities
and Exchange Commission agreement. .
On April 29, the Supreme Court denied billionaire
Elon Musk's challenge to the terms of a Securities
and Exchange Commission agreement. .
NBC reports that the SEC requirement
would require a lawyer to review
the Tesla CEO's social media posts. .
In his appeal, Musk argued that the SEC's requirement,
which has been dubbed the 'Twitter sitter' provision,
unlawfully imposed conditions on his freedom to comment. .
In his appeal, Musk argued that the SEC's requirement,
which has been dubbed the 'Twitter sitter' provision,
unlawfully imposed conditions on his freedom to comment. .
The SEC requirement stems from Musk's tweets in 2018 that
claimed he was taking Tesla private, which shocked the
market and caused shares in the company to surge.
The SEC requirement stems from Musk's tweets in 2018 that
claimed he was taking Tesla private, which shocked the
market and caused shares in the company to surge.
The SEC deemed the tweets
"materially false and misleading,"
and in clear violation of securities laws.
At the time, Musk agreed to settle the issue
with the SEC, which included his signing off
on the so-called "Twitter sitter" provision.
NBC reports that Musk has since said
the restrictions are unconstitutional and that
he was coerced into signing the SEC agreement.
According to court papers, lawyers
representing Musk have accused the SEC
of waging an "ongoing campaign" against Musk.
Musk's legal team claim the provision , "restricts Mr. Musk’s speech even
when truthful and accurate.".
It extends to speech not
covered by the securities laws
and with no relation to the conduct
underlying the SEC’s civil action, Elon Musk legal team, via NBC.
In response, the SEC said in court papers
that Musk waived his right to appeal
when he signed off on the settlement.
Credit: Wibbitz Top Stories Duration: 01:31Published
'Law & Order: Organized Crime' is coming back! But it's moving from NBC to Peacock. Sources tell The Hollywood Reporter that Peacock is putting the finishing touches on a deal that would see the series starring Christopher Meloni move from NBC to the streaming service for a fifth season consisting of 10 episodes. Reps for Peacock, NBC, producers Universal Television and executive producer Dick Wolf declined to comment as a deal has yet to officially close.
Credit: The Hollywood Reporter Duration: 01:17Published
Sabrina Impacciatore of 'The White Lotus' and Domhnall Gleeson from 'Star Wars: The Rise of Skywalker' have been cast in the new take on the beloved NBC Steve Carell-led comedy 'The Office.'
Credit: The Hollywood Reporter Duration: 01:08Published
TikTok is suing the US government over a law that seeks to force the app's Chinese owner ByteDance to sell it within nine months or ban its use in America. Sky News
ByteDance Says , It Won't Sell TikTok.
The United States passed a law on April 24 that requires ByteDance to sell TikTok
in 2025 or be banned across the nation.
The United States passed a law on April 24 that requires ByteDance to sell TikTok
in 2025 or be banned across the nation.
In response to a news article claiming ByteDance was considering selling TikTok
in America without its algorithm.
the Chinese company said,
"Foreign media reports of ByteDance
selling TikTok are not true," BBC reports. .
ByteDance doesn't have
any plans to sell TikTok, ByteDance, via statement.
TikTok has continuously denied claims that its parent company is controlled by the Chinese government.
We are confident and we will keep
fighting for your rights in the courts, Shou Zi Chew, TikTok CEO, via statement.
The facts, and the Constitution,
are on our side... rest assured,
we aren't going anywhere, Shou Zi Chew, TikTok CEO, via statement.
The Chinese government, which has also denied
any ties to ByteDance, said that banning TikTok
would "inevitably come back to bite the U.S.".
BBC reports that 60% of TikTok shares are currently "owned by institutional investors, including major U.S. investment firms.".
20% is owned by ByteDance founder Zhang Yiming, and 20% is owned by global employees.
Out of ByteDance's five board members,
three are American, BBC reports.
Credit: Wibbitz Top Stories Duration: 01:31Published
Senate Passes $95 Billion , Foreign Aid Package.
On April 23, the U.S. Senate voted
79-18 to approve foreign aid for Ukraine,
Israel and Taiwan, 'The Guardian' reports. .
Today the Senate sends a unified
message to the entire world:
America will always defend
democracy in its hour of need, Senate Majority Leader Chuck Schumer, via statement.
Make no mistake, America will deliver
on its promise to act like a leader on the
world stage, to hold the line against
autocratic thugs like Vladimir Putin. , Senate Majority Leader Chuck Schumer, via statement.
The package includes $60.8 billion for Ukraine,
$26.3 billion for Israel and $8.1 billion for Taiwan.
The package includes $60.8 billion for Ukraine,
$26.3 billion for Israel and $8.1 billion for Taiwan.
The package includes $60.8 billion for Ukraine,
$26.3 billion for Israel and $8.1 billion for Taiwan.
A provision to ban TikTok
after the election if ByteDance refuses
to sell the platform is also included.
The legislation will now head to President Biden, who told Ukrainian President Volodymyr Zelensky on
April 23 that he will "move quickly" to provide aid.
Senate Majority Leader Chuck Schumer praised House Speaker Mike Johnson, .
Senate Majority Leader Chuck Schumer praised House Speaker Mike Johnson, .
with whom he worked "hand in hand and shoulder to shoulder to get this bill done.".
A lot of people inside and
outside the Congress wanted this
package to fail. But today those in
Congress who stand on the side of
democracy are winning the day, Senate Majority Leader Chuck Schumer, via statement.
Senate Republican Leader Mitch McConnell also issued a statement.
Today’s action is overdue, but our work
does not end here. Trust in American
resolve is not rebuilt overnight. Expanding
and restocking the arsenal of democracy
doesn’t just happen by magic, Senate Majority Republican Leader Mitch McConnell, via statement
Credit: Wibbitz Top Stories Duration: 01:31Published
Congress Sends Biden a Bill , That Could Ban TikTok.
Included within Congress' $95 billion national security package is a provision that could
lead to TikTok being banned in America.
Included within Congress' $95 billion national security package is a provision that could
lead to TikTok being banned in America.
However, the ban would take place
after the 2024 election, NBC News reports. .
This means that TikTok could still be used by candidates seeking the nation's highest
office who want to reach younger voters.
This means that TikTok could still be used by candidates seeking the nation's highest
office who want to reach younger voters.
The new bill gives TikTok parent company ByteDance nine months to sell the
platform or be banned in the U.S.
A one-time, 90-day extension can
be granted by the president.
Without an extension, the earliest a ban
could be implemented is January 2025.
Some Democrats say that ByteDance would rather sell TikTok than be banned in America.
TikTok ain’t going away. There is
no more capitalistic entity than
an organization controlled by
the Chinese Communist Party.
They’re going to sell it, Sen. Tim Kaine, D-Va., a member of the
Armed Services Committee, via NBC News.
Young people will go on their
TikTok tomorrow and they’ll still
have it. And then the day after
that, they’ll still have it. And the
day after that, they’ll still have it.
If you like it, you’re going to keep it, Sen. Tim Kaine, D-Va., a member of the
Armed Services Committee, via NBC News.
Donald Trump issued a statement seeking to
exploit the development for his own political gain.
Just so everyone knows, especially the
young people, Crooked Joe Biden is
responsible for banning TikTok. He is the one
pushing it to close … Young people, and lots of others, must remember this on November 5th, ELECTION DAY, when they vote!, Donald Trump, via Truth Social
Credit: Wibbitz Top Stories Duration: 01:31Published
Key Federal Reserve Inflation Gauge , Rose 2.8% in March.
According to Commerce Department
data released on April 26.
the personal consumption expenditures
(PCE) price index, not including food or energy, rose 2.8% year-over-year in March. .
That exceeded Dow Jones
estimates of 2.7%, CNBC reports. .
When also accounting for food and energy, the all-items PCE measure rose 2.7%,
which was above the 2.6% estimate.
Inflation reports released this morning
were not as a hot as feared, , George Mateyo, chief investment officer at Key Wealth, via CNBC.
... but investors should not get
overly anchored to the idea that
inflation has been completely
cured and the Fed will be cutting
interest rates in the near-term, George Mateyo, chief investment officer at Key Wealth, via CNBC.
The prospects of rate cuts remain,
but they are not assured, and the
Fed will likely need weakness in
the labor market before they
have the confidence to cut, George Mateyo, chief investment officer at Key Wealth, via CNBC.
Consumers continue to spend despite
higher prices, CNBC reports.
Personal spending increased 0.8% in March, while personal income rose 0.5%.
The personal saving rate dropped to 3.2% as more people are having to dip into their savings to cover the cost of living.
The Fed continues to target 2% inflation, which the core PCE has exceeded for
the last three years, CNBC reports.
Credit: Wibbitz Top Stories Duration: 01:30Published
Netflix Exceeds Earnings Estimates , As Subscribers Increase.
Netflix Exceeds Earnings Estimates , As Subscribers Increase.
Netflix released a Q1 earnings report on April 18, indicating that its number of subscribers jumped 16% year-over-year to reach 269.6 million.
Analysts only expected the streamer to have about 264.2 million subscribers, CNBC reports. .
The company also brought in $9.37 billion in revenue versus analysts' expectations of $9.28 billion. .
However, Netflix said that its membership numbers are no longer the main factor contributing to the company's growth.
As a result, the company will stop providing "quarterly membership numbers or average revenue per user" beginning in 2025, CNBC reports. .
Instead, it will divulge "major subscriber milestones as we cross them.".
Price hikes, terminating password sharing
and offering an ad-supported tier are all tactics that have boosted revenue.
Netflix is also seeking to gain traction within the video game space and recently partnered with TKO Group Holdings to offer WWE on the platform.
We’re in the very early days of
developing our live programming and
I would look at this as an expansion of
the types of content we offer, the way
we expanded to film and unscripted and
animation and most recently games, Ted Sarandos, co-CEO of Netflix, via earnings call.
We believe that these kind of event cultural
moments like the Jake Paul and Mike Tyson
fight are just that kind of television, and we
want to be part of winning over those
moments with our members as well, so that
for me is the excitement part of this, Ted Sarandos, co-CEO of Netflix, via earnings call.
As of the morning of April 18,
Netflix's stock was up 27%
Credit: Wibbitz Top Stories Duration: 01:30Published
Google Fires Employees , for Protesting Israel Contract.
28 Google workers have been fired for protesting
a $1.2 billion contract that the company has with
the Israeli government and military to provide
cloud and AI services, NBC News reports. .
The firings follow an April 16 sit-in at
Google's offices in California, New York and Seattle in which nine workers were arrested.
The group that coordinated the demonstration
is known as No Tech for Apartheid. .
Google issued a statement about the recent firings.
A small number of employee
protesters entered and disrupted
a few of our locations. , Google spokesperson, via statement.
Physically impeding other employees’
work and preventing them from
accessing our facilities is a clear
violation of our policies, and
completely unacceptable behavior. , Google spokesperson, via statement.
We have so far concluded
individual investigations that
resulted in the termination of
employment for 28 employees,
and will continue to investigate
and take action as needed, Google spokesperson, via statement.
No Tech for Apartheid claims that the
workers were fired "indiscriminately.".
This excuse to avoid confronting
us and our concerns directly,
and attempt to justify its illegal,
retaliatory firings, is a lie, No Tech for Apartheid, via statement.
Meanwhile, many of Google's workers have
reportedly quit after experiencing "mental health consequences of working at a company that is using their labor to enable a genocide," No Tech for Apartheid said.
On a personal level, I am opposed
to Google taking any military
contracts — no matter which
government they’re with or what
exactly the contract is about. , Cheyne Anderson, a Google Cloud software engineer based
in Washington who was arrested during a sit-in, to CNBC
Credit: Wibbitz Top Stories Duration: 01:31Published
Amazon Cuts Hundreds , of Cloud Computing Jobs.
An Amazon Web Services (AWS)
spokesperson issued a statement about
the job cuts on April 3, CNBC reports. .
We’ve identified a few targeted areas of
the organization we need to streamline
in order to continue focusing our efforts
on the key strategic areas that we
believe will deliver maximum impact, AWS spokesperson, via statement.
We didn’t make these decisions
lightly, and we’re committed
to supporting the employees
throughout their transition to new
roles in and outside of Amazon, AWS spokesperson, via statement.
Cuts are being made to the store technology division “as a result of a broader strategic shift in the use of some applications in Amazon’s owned as well as in third-party stores,” the spokesperson said.
The layoffs come after Amazon announced that it was ending its Just Walk Out technology in Fresh stores.
The cashierless technology is overseen
by teams within the AWS unit. .
Beginning in 2022, Amazon started
its largest layoffs in history by letting
go of 27,000 roles company-wide. .
So far in 2024, the retail behemoth has cut jobs at Audible, Buy with Prime, Prime Video, MGM Studios and Twitch, CNBC reports. .
This latest round of cuts will
allow U.S. employees to collect pay
and benefits for a minimum of 60 days.
They will also be offered a severance package.
Credit: Wibbitz Top Stories Duration: 01:30Published
UPS to Become US Postal Service’s , Main Air Cargo Provider.
On April 1, United Parcel Service announced
that it will replace FedEx as the primary air
cargo provider for the USPS, CNBC reports. .
On April 1, United Parcel Service announced
that it will replace FedEx as the primary air
cargo provider for the USPS, CNBC reports. .
FedEx is walking away from a
22-year partnership after failing to
secure a better contract with the agency. .
FedEx is walking away from a
22-year partnership after failing to
secure a better contract with the agency. .
In fiscal year 2023, USPS paid FedEx $1.73 billion
for its services, down from the $2.4 billion
FedEx received in fiscal year 2020.
The decrease in payments was partially due
to the postal service using more economical
trucks in place of planes, CNBC reports. .
The parties were unable to reach
agreement on mutually beneficial
terms to extend the contract, FedEx, via securities filing.
Since FedEx will lose nearly $2 billion in annual
business from letting go of the contract, .
hundreds of pilots will likely
lose their jobs, CNBC reports .
Following the announcement, UPS shares
increased 1.4% while FedEx stock dropped 1.6%.
FedEx's current contract is
set to expire on Sept. 29
Credit: Wibbitz Top Stories Duration: 01:30Published
Former U.S. Treasury Secretary Steven Mnuchin is making headlines again, this time with a surprising announcement regarding TikTok. Veuer’s Maria Mercedes Galuppo has the story.
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