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US Lawmakers Push For TikTok Divestment Amid Privacy And Security Concerns

US Lawmakers Push For TikTok Divestment Amid Privacy And Security Concerns

US lawmakers are pushing for the divestment of TikTok from its Chinese parent company, ByteDance. Republican Mike Gallagher believes investors could benefit from a forced sale, while President Biden supports a bill to address TikTok but prefers ByteDance to relinquish control rather than an outright

Chris Dannen profile image
by Chris Dannen

US lawmakers are pushing for the divestment of TikTok from its Chinese parent company, ByteDance. Republican Mike Gallagher believes investors could benefit from a forced sale, while President Biden supports a bill to address TikTok but prefers ByteDance to relinquish control rather than an outright ban. Former Treasury Secretary Steven Mnuchin has expressed interest in acquiring the app.

In China, Baoding University has installed surveillance cameras in a calligraphy classroom, sparking a debate on privacy and student stress. The university claims the cameras are for digital media teaching and exam monitoring, but some students feel it creates a "digital prison," adding to the pressure they already face.

Uber has agreed to pay A$271.8 million to settle a lawsuit filed by Australian taxi operators and drivers who claimed lost income due to Uber's market entry. The settlement aims to resolve legacy issues, with Uber having previously contributed to state-level taxi compensation schemes in an effort to improve relations with the industry.

Apple will pay $490 million to settle a class action lawsuit led by Norfolk County Council, which alleged that CEO Tim Cook defrauded shareholders by concealing lower iPhone demand in China. The preliminary settlement should prevent the case from going to trial later this year, as originally planned.

The US move to restrict access to genomic databases could affect Hong Kong scientists' ability to publish research in major scientific journals. However, academics believe collaboration can continue by working around the rules and expanding data sources through partnerships with mainland China and Macau, ensuring their work remains relevant and impactful.

Despite a government ban, China's cryptocurrency investors made significant gains of about US$1 billion in 2023, ranking fourth globally. Hong Kong investors realized gains of US$250 million, as the city aims to become a major hub for virtual assets with support from Beijing, potentially opening up new opportunities for investors and businesses in the region.

Chris Dannen profile image
by Chris Dannen

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