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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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Apple on its own as U.S. stocks make comeback

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U.S. markets have rallied after a disappointing week for investors. But what is Apple doing?

The Dow Jones is up around 548 points, marking a big comeback from its recent 2022 lows.

Overall, it was a broad-based rally, with Apple as an outlier.

The tech giant’s stocks were down about 1.3 per cent after reports the company is ditching plans to increase new iPhone production, as demand falls short of expectations.

The broad-based rally follows the Bank of England announcing it would buy bonds, to stabilise financial markets, a huge reversal in policy implemented by most institutions this year to tackle soaring inflation.

The move caused the pound to become more stable, after it had tumbled to a record low against the U-S dollar earlier in the week.

U-S yields retreated from their highest level in more than a decade – easing concerns that rates were growing too quickly and could damage the economy.

But what does this all mean for the future? It’s hard to say, but this move by the Bank of England could signal a change in policy for central banks around the world.

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We know how the crypto market will recover, but when?

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$2.2 Trillion Institutional Crypto Price Prediction Reveals Bitcoin And Ethereum Could Be Poised For Recovery

The crypto market took a huge hit after the Federal Reserve’s announcement of quantitative easing, but one analyst is predicting that both bitcoin and ethereum could stage a recovery in the near future.

According to a report from investment firm JP Morgan, the two largest cryptocurrencies by market capitalization could see prices rise to $14,000 and $3,900 per coin, respectively.

This would represent a significant rebound from their current levels of around $10,000 and $200.

The report cites the recent influx of institutional investors into the crypto space as a key driver of this price growth.

With more and more big money players getting involved in crypto, JP Morgan predicts that the market could soon see a “new paradigm” of price discovery.

So far, crypto has been largely driven by retail investors, who are often more prone to emotional buying and selling.

With institutional investors coming in, there could be more stability in the market and less volatility.

JP Morgan’s report is just one of many bullish crypto predictions that have come out in recent months.

With more and more mainstream companies and financial institutions taking crypto seriously, it seems that the once-niche market is finally coming into the mainstream.

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Virgin Atlantic ditches gender uniforms

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Virgin is now the most inclusive airline in the skies, thanks to its new gender-neutral uniform policy.

Pilots, cabin crew and ground staff are now free to wear whatever they feel expresses their individuality, whether that be traditional men’s or women’s clothing, or something more unique.

Previously women had to wear a red uniform and men wore burgundy and the airlines says that the change makes it “the most inclusive airline in the skies”.

The move away from gendered uniforms has been applauded by staff, and sets Virgin Atlantic apart as an airline that is championing inclusivity.

Jaime Forsstroem, a member of Virgin cabin crew, said: “The updated gender identity policy is so important to me. As a non-binary person, it allows me to be myself at work and have the choice in what uniform I wear.”

The airline is amending its “trans inclusion policies” which include time off work for medical treatments related to gender transition,.

It is also introducing an option to include pronouns on workers’ name badges.

 

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