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TikTok executive falls short on China questions

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TikTok’s Chief Operating Officer has faced questions over whether or not the company hands data to China

Vanessa Pappas has become the first TikTok executive to answer questions from lawmakers about the company’s alleged ties to Beijing.

Pappas was facing members of the Senate Homeland Security and Governmental Affairs Committee.

U.S. officials asked whether TikTok shares data with the Chinese Government. But Pappas was unable to confirm whether the company shares data, and if it can cut off its information-sharing.

“ByteDance is founded in China, but we do not have an official headquarters as a global company,” she said.

TikTok is owned by ByteDance, which is based in China.

The popular video-sharing platform has faced a series of probes by U.S. authorities, including by former President Donald Trump who placed an executive order to limit unspecified “transactions” with the Chinese owners of the app.

“I’m concerned that you’re not able to answer the question, except to say that you will not make the commitment to cutting off this data to China,” Senator Rob Portman said during the hearing.

“We also have very strict access controls around the type of data that they can access and where that data is stored, which is here in the United States. And we’ve also said under no circumstances would we give that data to China.”

VANESSA PAPPAS, TIKTKOK CHIEF OPERATING OFFICER

The executive maintained the Chinese Government “in no way, shape or form—period” has control over TikTok’s corporate policies.

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Warner Brothers & Discovery considers splitting up to boost stock value

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Warner Bros Discovery is considering a strategic breakup to enhance its stock performance, according to a Financial Times report.

The potential move aims to unlock value by separating its media assets from its reality TV and lifestyle businesses.

This decision follows pressure from investors to improve stock performance, amidst challenges in the media industry #featured #trending

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Investors worldwide grow increasingly optimistic about Trump winning the election

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Investors are increasingly optimistic about Donald Trump’s potential re-election, prompting a resurgence in the so-called ‘Trump trade’.

Market participants are closely monitoring Trump’s political strategies and public sentiment, influencing their investment decisions.

Kyle Rodda from Captial.com joins to discuss all the latest.

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Netflix expands use of ads despite slow subscriber growth

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Netflix is intensifying its efforts to introduce an ad-supported tier amidst a plateau in subscriber growth.

The streaming giant hopes to attract new users and boost revenue by offering a cheaper alternative that includes advertisements.

This move marks a significant shift from its traditional ad-free model, reflecting Netflix’s response to competitive pressures and evolving consumer preferences.

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