Money

TikTok executive falls short on China questions

Published

2 years ago

September 16, 2022

ticker NEWS

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.

Leaders

Elon Musk is projected to become the world’s first trillionaire

Published

8 hours ago

September 9, 2024

ticker NEWS

Elon Musk, the visionary entrepreneur behind Tesla and SpaceX, is projected to achieve an unprecedented financial milestone by becoming the world’s first trillionaire by 2027.

Currently the richest person alive, Musk holds a staggering net worth of $251 billion, with Tesla playing a major role in his fortune.

At this rate, experts predict his wealth could skyrocket, reaching the trillion-dollar milestone in just three years.

Tesla itself is growing at a remarkable pace, with a market value nearing $670 billion. #featured #trending

Money

Treasury Secretary believes the U.S. are on track for a “safe landing”

Published

11 hours ago

September 9, 2024

ticker NEWS

Treasury Secretary Janet Yellen pointed to a “soft landing” for the economy, with unemployment slightly down despite slower job creation.

In a recent interview on Bloomberg, Yellen stated that “For the US, the kinds of metrics that we would monitor that would summarise risks — whether it’s asset valuations or a good degree of leverage — things look good, I don’t see red lights flashing”. #featured #trending

Leaders

Trump promises to slap unprecedented tariffs on foreign allies

Published

13 hours ago

September 9, 2024

ticker NEWS

Former President Donald Trump has promised to slap unprecedented Tariffs on foreign allies, including the European Union, if he wins the 2024 presidential election.

Trump pledged to reduce the corporate tax rate from 21% to 15% for companies that make their products in the U.S.

While he had already said he wanted to cut the corporate tax rate to 15%, he had not previously tied that lower rate to keeping manufacturing inside the country. #featured #trending