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Yahoo BusinessAug 03, 2020
Microsoft Tries To Salvage Deal To Buy TikTok, Appease Trump
(Bloomberg) -- In a bid to salvage a deal for the U.S. operations of TikTok, Microsoft Corp. Chief Executive Officer Satya Nadella spoke with President Donald Trump by phone about how to secure the administration's blessing to buy the wildly popular, but besieged, music video app.Microsoft in a blog post Sunday confirmed talks to buy TikTok's operations in the U.S., as well as in Canada, Australia and New Zealand, and said it's aiming to complete the deal no later than Sept. 15.The software giant's public statement follows closed-door discussions with TikTok and Trump, who floated plans for an outright ban of the app on national security grounds and publicly lambasted the idea of a deal late Friday night. The companies now have 45 days to hash out a plan acceptable to all parties, a deadline insisted on by the White House, according to people familiar with the matter. The two companies have not yet worked out key details for a deal, including price, according to people familiar with the matter.TikTok had become a flash point among rising U.S.-China tensions in recent months as U.S. politicians raised concerns that parent company Bytedance Ltd. could be compelled to hand over American users' data to Beijing or use the app to influence the 165 million Americans, and more than 2 billion users globally, who have downloaded it. The app also drew ire from the U.S. president after anti-Trump activists used the platform to disrupt campaign activities.In its blog post, Microsoft pledged to add more security

Yahoo BusinessAug 03, 2020
Earnings, Microsoft set to boost Wall Street as investors await stimulus
Microsoft rose 2.7% before the bell as it said it would push ahead with talks to acquire the U.S. operations of Chinese-owned TikTok after President Donald Trump reversed course on a planned ban of the short-video app. Drug distributor McKesson Corp gained 4.6% after raising its full-year earnings forecast, while Tyson Foods Inc rose 0.9% on topping quarterly profit estimates.

Yahoo BusinessAug 03, 2020
Chinese Tech Stocks Soar as U.S. Measures Spur Support Hopes
(Bloomberg) -- Mainland-listed technology shares surged on Monday, driven by expectations of support from Beijing in response to U.S. moves on Chinese-owned software companies.A gauge for Shanghai's Star board of tech startups closed 7.3% higher, a record gain and a fresh closing high. Shenzhen's ChiNext Index rose 2.6%.The gains come amid signs that the U.S. will announce measures against Chinese-owned software deemed to pose national-security risks. President Donald Trump last week said he planned to ban TikTok, the popular music-video app owned by ByteDance Ltd., one of China's biggest tech companies.Comments by U.S. Secretary of State Michael Pompeo suggest a possible widening of U.S. measures beyond the popular app. Microsoft Corp. was said to be exploring an acquisition of TikTok's operations in the U.S."Investors hold the belief that whatever sector the U.S. bans, China will step up support in that area to push for greater development at home," said Zhang Gang, a strategist with Central China Securities Co. "Following the threat of the TikTok ban, there are growing expectations that more supportive policies could be rolled out to boost the technology sector, and that's lifting the related shares."Monday's gains followed a call last week by Chinese President Xi Jinping for a greater push on reforms to stimulate domestic demand. While in the short term leaders have expressed satisfaction that growth is recovering, China faces a host of shorter-term economic problems including the confrontation with the U.S

Yahoo BusinessAug 02, 2020
Microsoft Confirms Talks to Buy TikTok's U.S. Operation
Aug.02 -- Kiersten Todt, managing director at the Cyber Readiness Institute and a former Obama administration official, discusses the prospects for music video app TikTok, which is owned by one of China's largest tech companies, ByteDance Ltd. Microsoft Corp. Chief Executive Officer Satya Nadella spoke with President Donald Trump on Sunday to salvage the company's effort to buy TikTok's operations in the U.S. and several other countries. Todt speaks on "Bloomberg Markets: China Open."

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