

Bill to Ban TikTok in US Reflects Growing Concerns in Congress
source link: https://finance.yahoo.com/news/bill-ban-tiktok-us-reflects-160428666.html
Go to the source link to view the article. You can view the picture content, updated content and better typesetting reading experience. If the link is broken, please click the button below to view the snapshot at that time.

Bill to Ban TikTok in US Reflects Growing Concerns in Congress
(Bloomberg) -- A group of lawmakers has revived legislation to ban TikTok in the US as doubts grow about the viability of an effort to keep data it collects from falling into the hands of the Chinese government.
Most Read from Bloomberg
Senators Marco Rubio, a Florida Republican, and Angus King, an independent from Maine who caucuses with the Democrats, have introduced legislation that would block the popular video-sharing platform because it is controlled by China and there are fears the Beijing government could compel it to share data on US users.
The fate of the legislation — similar to a measure that failed in the last Congress — is unclear as it’s likely to draw opposition from the powerful tech lobby and pits lawmakers against millions of mostly young users of the platform. But the proposal reflects an emerging consensus on Capitol Hill that something must be done as questions mount about whether efforts to wall off US data from people in China can succeed.
TikTok’s Chief Executive Officer Shou Zi Chew is slated to appear before the House Energy and Commerce Committee on March 23 and is expected to address questions about how the company handles user data, among other concerns.
The Biden administration, through the Committee on Foreign Investment in the US, has been working on an arrangement that would store US data on servers hosted by Oracle Corp. Lawmakers and experts have raised questions about whether that setup would successfully keep the data from leaking to China. Under Chinese law, companies can be compelled to share data with the government.
TikTok Inc. Chief Operating Officer Vanessa Pappas during a Senate hearing in September that the company has strict controls over access to data and where it’s stored, and that the company wouldn’t give that data to the Chinese government.
- Bloomberg
Investor ValueAct Takes Spotify Stake to Back Cost Cuts at the Music Streaming Leader
(Bloomberg) -- Investment firm ValueAct Capital Management has built a position in Spotify Technology SA, in a move that supports the music-streaming company’s strategy led by Chief Executive Officer Daniel Ek to tighten its spending and become more efficient.Most Read from BloombergObject Shot Down Over Canada in Escalating Aerial DramaBlackRock, Pimco Push Back Against Bets Inflation Cooling FastUS Downs Unknown Object Over Alaska as China Tension GrowsUS Recovery of Object Downed Over Alaska
2d ago - Reuters
ECB must keep raising rate despite public sacrifice, Vujcic says
The European Central Bank needs to keep raising rates beyond March and must hold them at high levels for a while even as inflation falls and this "sacrifice" becomes more difficult to explain to the public, the ECB’s newest policymaker said. Having raised rates by 3 percentage points since July, policymakers have started to ponder when and where the fastest tightening cycle in ECB history will end, especially since inflation is now retreating quickly from record highs. But Croatian central bank Governor Boris Vujcic, whose nation joined the euro on Jan. 1, says stubborn underlying inflation means it is premature to predict the end of rate hikes and the cut priced in by markets for the turn of the year is not even worth discussing.
2d ago - The Telegraph
Adani: Narendra Modi’s key ally threatening India’s economy
After sweeping to victory in the 2014 general election, Indian prime minister Narendra Modi hopped on a private jet from his home state of Gujarat to the capital New Delhi.
1d ago - Bloomberg
Investors Brace for Risk Inflation Dooms Bonds to Bear Market
(Bloomberg) -- Investors are bracing for key inflation data next week that could worsen the bond-market rout. Most Read from BloombergObject Shot Down Over Canada in Escalating Aerial DramaBlackRock, Pimco Push Back Against Bets Inflation Cooling FastUS Downs Unknown Object Over Alaska as China Tension GrowsUS Recovery of Object Downed Over Alaska Faces Arctic ConditionsClock Is Ticking Louder on a Stock Rally the Pros Never Believed InJanuary consumer prices are seen accelerating for the first
14h ago - USA TODAY
IRS tells 21 states how to handle last year's special payments
Taxpayers in 21 states faced confusion on how to handle money they received in special state refunds or payments in 2022. The IRS finally has answers.
21h ago - The Wall Street Journal
U.S. List of China Balloon Suppliers Hints at New Age in Surveillance
Company profiles point to high-tech parts while military links fuel Washington’s concerns of a spy threat.
10h ago - The Telegraph
Sunak’s tax blunders prove it – Liz Truss was right all along
The return of Liz Truss to the political fray has inevitably sparked a barrage of derision and outrage. The former prime minister has been widely criticised for her 4,000-word essay in last weekend's Telegraph, followed by an hour-long interview on Spectator TV.
5h ago - The Fiscal Times
McConnell Slams Scott as Republicans Feud Over Social Security
President Joe Biden has spent much of this week blasting a proposal from Republican Sen. Rick Scott of Florida to have all federal programs, including Social Security and Medicare, sunset in five years, a change that would require Congress to reauthorize any programs it wants to keep. On Thursday, Senate Minority Leader Mitch McConnell (R-KY) piled on with his own criticism of the Scott plan, which he had rejected early last year. Asked in an interview with Kentucky radio host Terry Meiners if B
1d ago - Quartz
Companies involved in the making of the Chinese spy balloon could face sanctions
Whoever helped make China’s spy balloon is in big trouble with the US.
2d ago - The Telegraph
Energy industry faces ‘death by a thousand cuts’, warns major power supplier to Britain
Britain’s energy industry risks “death by a thousand cuts” as tax raids, red tape and a constant "flip-flopping" on policy deter investment, the head of one of Britain's biggest power producers has warned.
19h ago - MarketWatch
Russia unleashes fresh assault on across Ukraine with missiles, drones
The Kremlin's forces focused their bombardments on Ukraine's industrial east, especially the Luhansk and Donetsk provinces that make up the industrial Donbas region where fighting has recently been most intense, the Ukrainian military said.
2d ago - The Fiscal Times
Biden Prepares Largest Defense Budget in History
The Biden administration is reportedly close to settling on a topline figure for defense spending in its 2024 budget proposal, scheduled for release on March 9. The chief financial officer at the Department of Defense said the spending request for 2024 is expected to be larger than the $858 billion enacted in the 2023 fiscal year, making it the largest in history in nominal terms. The total for 2023 includes $817 billion for the Pentagon, with the remainder going toward defense programs in other
1d ago - CoinDesk
China Targets Blockchain Breakthroughs With Beijing Research Center: Report
The center will focus on blockchain use related to the economy and individuals' livelihoods in an attempt to make the technology central to the country's digital infrastructure.
2d ago - The Wall Street Journal
Disney Special Tax-District Bill Is Approved by Florida Senate
Florida Gov. Ron DeSantis is expected to sign the measure, which would take governance of the land housing Walt Disney World Resort from the company and hand it to the state.
2d ago - MarketWatch
Have you been stockpiling COVID test kits that are now expired? Some might still be good to use
Biden is ending the U.S. COVID emergency declaration, which means Americans may no longer get free tests. Here's how to know if your home tests are still good.
19h ago - MarketWatch
2-year Treasury yield posts biggest weekly rise since November
2-, 10- and 30-year Treasury yields post their biggest weekly gains in over a month after data showed U.S. consumer sentiment improving.
2d ago - The Wall Street Journal
Crypto Firms’ In-House Tokens Are Coming Under More Scrutiny
FTX used its own token, FTT, to fuel its growth before it filed for bankruptcy, according to regulators.
21h ago - MoneyWise
‘Unfair to taxpayers’: The IRS leaves millions waiting for answers before they can file — here’s what you need to know before you wade into the ‘mess’
A last-minute probe causes chaos for taxpayers.
21h ago - LA Times
IRS says it won't tax California's Middle Class Tax Refund
In guidance late Friday afternoon, the IRS said California's Middle Class Tax Refund and similar payments in other states would not be subject to federal taxes.
2d ago - Bloomberg
Ukraine Latest: Russia Strikes After Zelenskiy’s Europe Aid Call
(Bloomberg) -- Russia launched its biggest barrage of missile attacks so far this year against Ukraine after President Volodymyr Zelenskiy completed a visit to European capitals, where he sought more weapons to fend off Vladimir Putin’s invasion. Most Read from BloombergObject Shot Down Over Canada in Escalating Aerial DramaBlackRock, Pimco Push Back Against Bets Inflation Cooling FastUS Downs Unknown Object Over Alaska as China Tension GrowsUS Recovery of Object Downed Over Alaska Faces Arctic
1d ago
Recommend
-
7
Key Bitcoin options ‘fear’ indicator reflects traders’ regulatory concerns – HodlalertKey Bitcoin options ‘fear’ indicator reflects traders’ regulatory concerns...
-
9
November 5, 2021
-
7
December 20, 2022 ...
-
11
Posted inNews Feed US Congress set to ban TikTok use on government devices by
-
3
TikTok CEO will speak with Congress in March about US national security concerns
-
6
February 28, 2023 ...
-
8
New TikTok ban is poised to advance in CongressKey Points
-
6
-
6
The US government, worried about China's manipulation, seeks to manipulate TikTok to do what it wants. Nicole Farley
-
9
Montana lawmakers pass bill to ban TikTokKey Points
About Joyk
Aggregate valuable and interesting links.
Joyk means Joy of geeK