Elon Musk Shares Bold Vision for AI, Robots, and Space at Davos 
Tesla Plans FSD Subscription Price Hikes as Autonomous Capabilities Advance 
U.S. Lawmakers Demand Scrutiny of TikTok-ByteDance Deal Amid National Security Concerns 
Walmart to Cut PhonePe Stake in IPO as Tiger Global and Microsoft Exit 
CN Energy Group Inc. Stock Slides After Nasdaq Delisting Notice Over Bid Price Rule 
Valero Makes First Venezuelan Crude Purchase Under New U.S.-Caracas Deal 
Winter Storm Triggers Widespread Flight Cancellations Across U.S. as Airlines Urge Travelers to Rebook 
ByteDance Finalizes Majority U.S.-Owned TikTok Joint Venture to Avert American Ban 
Apple Stock Jumps as Company Prepares Major Siri AI Chatbot Upgrade 
Baidu Shares Surge After Official Launch of Advanced Ernie 5.0 AI Model 
Intel Stock Slides Despite Earnings Beat as Weak Q1 Outlook Raises Concerns 
FAA Says It Is Not Blocking Boeing 737 MAX 7 and MAX 10 Certification 
SEC Drops Gemini Enforcement Case After Full Repayment to Earn Investors 
Microsoft Restores Microsoft 365 Services After Widespread Outage 
NTSB Opens Investigation Into Waymo Robotaxis After School Bus Safety Violations in Texas 
Apple China Holiday Sale Offers Discounts Up to 1,000 Yuan on Popular Devices 
Toyota Recalls 162,000 Tundra Vehicles in U.S. Over Multimedia Display Issue 
TikTok is being sold to American companies Walmart and Oracle, but the deal was put on hold by Joe Biden’s administration. It was reported that the POTUS stopped the sale to review security concerns.
Acquisition of TikTok by American firms to be reviewed
The move seems to show that President Biden is backing Donald Trump in his suspicions that some Chinese tech companies pose a serious security threat in the country. As per The Wall Street Journal, sources who are familiar with the matter revealed that the TikTok deal weakened after the video-sharing service company’s owner ByteDance Ltd. continues to file legal disputes to prove that the service is not a threat to the nation’s security.
Also, there is an ongoing talk between ByteDance and the national security officials. The discussions are mainly about data security and methods on how to prevent the Chinese government from accessing the information that TikTok collects on American users.
“We plan to develop a comprehensive approach to securing U.S. data that addresses the full range of threats we face,” Emily Horne, spokesperson for the National Security Council, said in a statement. “This includes the risk posed by Chinese apps and other software that operate in the U.S. In the coming months, we expect to review specific cases in light of a comprehensive understanding of the risks we face.”
Then again, it is uncertain how the issues with TikTok and its sale to Oracle and Walmart will be solved. It is up to the Biden administration if this deal could still materialize in the future.
Biden’s action on the TikTok sale
Former US president, Donald Trump, issued an executive order that banned Chinese companies from operating in the country. As a result, many tech companies, including Huawei and others, were pulled out.
The ex-POTUS also forced the sale of TikTok to American groups Oracle Corp and Walmart Inc. since the change in ownership will allow it to run. But as mentioned, Biden wants this transaction to be reviewed first before proceeding.
During a press briefing on Feb. 10 at the White House, Press Secretary Jen Psaki told reporters the government hadn’t taken any new actions on the TikTok sale yet. “It’s not accurate to suggest that there is a new proactive step by the Biden White House,” CNBC News quoted her as saying. “There is a rigorous CFIUS process that is ongoing.”
