Skip to main content

TikTok's US fate reportedly rests on a brawl between two senior White House advisers

* The confused messages from the Trump administration about the fate of ByteDance-owned TikTok may stem from a disagreement between two senior White House advisers. * According to The Washington Post, trade adviser Peter Navarro pushed for an outright ban of TikTok, while Treasury Secretary Steve Mnuchin wanted a sale. * The pair ended up in a "shouting match" in front of President Donald Trump in the Oval Office in late July, according to the report. * President Trump has told TikTok, whose parent company is Chinese, that it must sell its US business to an American tech firm or investors, or face a ban from mid-September. * Visit Business Insider's homepage for more stories. Donald Trump's top advisers reportedly can't agree on what should happen to TikTok, whose fate in the US currently hangs in the balance. According to a Washington Post report, citing anonymous witnesses, Treasury Secretary Steven Mnuchin and trade adviser Peter Navarro had a "shouting match" in front of President Trump in the Oval Office in late July over the short video app's future. Navarro reportedly pushed for a full ban on TikTok, which is owned by Chinese startup ByteDance, and accused Mnuchin of being too gentle on China. Mnuchin wanted TikTok's business to be sold to Microsoft or another US bidder — he has already held talks with Microsoft, the report said. This "knockdown" brawl may partially explain some of the confused messages from the Trump administration on TikTok over the last month. The administration signaled in July that it might ban the app. However, news emerged at the beginning of August that Microsoft might buy parts of TikTok's business, sealing the app off from its Chinese owners. On the same day, Trump said that he would ban TikTok altogether. Microsoft then said it had held talks with Trump and would continue discussions with TikTok. Trump upped the pressure again, issuing an executive order on August 7 that banned US individuals or companies from doing business with TikTok's parent firm ByteDance. The order takes effect on September 20, effectively giving ByteDance a deadline to negotiate with Microsoft or other bidders. It isn't clear that Microsoft will successfully acquire TikTok's business. Other bidders reportedly interested include existing ByteDance backer Sequoia Capital and Twitter. TikTok, meanwhile, has threatened to sue the US over the executive order, saying the Trump administration had directly interfered with negotiations between private businesses. Join the conversation about this story » NOW WATCH: Why YETI coolers are so expensive
https://bit.ly/3ijvUnM

Popular posts from this blog

A full breakdown of what channels you get with every Sling TV package, plus all the add-ons

  * Sling is one of the most affordable cord-cutting services on the market, offering two packages —  Orange and Blue — with 30+ channels starting at $30 a month or combined for $45 a month. * Orange offers the Disney Channel and ESPN, while Blue offers a slate of Fox channels, NBC, Bravo, and Discovery. Both Orange and Blue offer CNN, TBS, Food Network, and BBC America. * You can also add on multi-channel packages, like Sports Extras, Kids Extras, or News Extras, starting at $5 a month. Premium add-ons, like Showtime, Starz, and Epix, are also available for an additional monthly charge.  * If you're new to Sling TV, you can receive a free 14-day trial for a limited time. * Here's a complete breakdown of the channels offered on each Sling package.    If you're hoping to get the most bang for your buck once you cut the cord with your cable subscription, Sling is one of the most affordable live streaming services on the market.  The service has two packages with ...

Here's an exclusive look at the pitch deck London fintech Lanistar used to raise $19 million at a $190 million valuation

* London-based fintech startup Lanistar has raised a £15 million ($19 million) funding round from Milaya Capital.  * Founded in 2019, Lanistar is building a personal financial management platform that will launch later in 2020.  * "We're expecting a huge amount of growth upon our launch and have already seen strong interest among our sign ups," Gurhan Kiziloz, founder and CEO of Lanistar, told Business Insider. * Visit Business Insider's homepage for more stories.  The coronavirus lockdown in the UK has brought the importance of managing money into sharp relief. A recent study from Money.com shows that 71% of UK households have saved cash during lockdown, and, with uncertainty about jobs and the economy looming, money management is now front of mind for many. Lanistar, a banking platform with a focus on personal finance, is one company offering tools for consumers to better manage their money. It has just raised a £15 million ($19 million) funding round from Mil...

Why an early exec quit unicorn food delivery startup Deliveroo to launch a food business in the middle of a pandemic

* A former Deliveroo exec has launched a market food hall startup in the middle of COVID-19. * Dan Warne was managing director of the unicorn startup until 2019, but has now launched Sessions Market as a community food hall concept to rejuvenate UK towns after the pandemic. * Warne says he hopes to bring his experience from Deliveroo, particularly about customer behavior, to the analogue world of food halls. * The first venue, Shelter Hall on Brighton seafront, launches July 4. * Visit Business Insider's homepage for more stories. On Saturday, the UK's bars, restaurants, and cinemas will fling their doors open to customers for the first time since a strict lockdown commenced in late March. Given continued public health concerns around the coronavirus pandemic, it might be unwise to open a new food business right now. But Dan Warne, a former high-level executive at British unicorn startup Deliveroo, has launched Sessions Market, a series of community-orientated food hal...