CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Kroger Set to Name Former Walmart Executive Greg Foran as Next CEO 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
Washington Post Publisher Will Lewis Steps Down After Layoffs 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Hims & Hers Halts Compounded Semaglutide Pill After FDA Warning 
Trump Backs Nexstar–Tegna Merger Amid Shifting U.S. Media Landscape 
DBS Expects Slight Dip in 2026 Net Profit After Q4 Earnings Miss on Lower Interest Margins 
Indian Refiners Scale Back Russian Oil Imports as U.S.-India Trade Deal Advances 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
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.”
