Regulation n 24 months

Share to Twitter Share to Linkedin Topline The Chinese government will oppose a possible plan by the U.S. to force a sale of TikTok, according to a statement Thursday, amid threats by federal regulators—and testimony by CEO Shou Zi Chew—to ban the social media app in the United States over national security and data privacy concerns. Key Facts Shu Jueting, a spokesperson for China’s Commerce Ministry, said Thursday that “China will firmly oppose” a forced sale of TikTok, noting a sale “would seriously damage” investors and investor confidence in the U.S. Though Jueting said China will oppose a forced sale, she did not clarify how the Chinese government would respond. Regulators from the Committee on Foreign Investment in the U.S. (CFIUS) previously said they would ban the app in the United States if its China-based owners did not sell their stake in the company. In a statement sent to Forbes, TikTok said that “divestment doesn’t … [Read more...] about China Opposes Forced TikTok Sale By U.S. Regulators

Share to Twitter Share to Linkedin Topline Amid growing global concern over the social media platform, TikTok CEO Shou Zi Chew will testify before the House Energy and Commerce Committee Thursday, where U.S. lawmakers are expected to question Chew over safety concerns for minors and preventing U.S. user data from foreign access. Key Facts In Chew’s first appearance before Congress, he’s expected to discuss the company’s privacy and data security practices, as well as the company’s relationship with the Chinese government, which has come under increased scrutiny in recent months. Prepared Remarks Chair Rodgers, Ranking Member Pallone, and Members of the Committee: Thank you for the opportunity to appear before you today to talk about TikTok and our mission to inspire creativity and bring joy to more than 1 billion people worldwide. I look forward to discussing what makes TikTok so special to the diverse audiences it serves, as well as our … [Read more...] about TikTok CEO Shou Zi Chew’s Prepared Comments Before Congress

Share to Twitter Share to Linkedin When you unshackle 1.4 billion consumers who have been penned up at home for three years, it’s reasonable to expect some fireworks. For the residents of Mainland China, life under “zero COVID” policies was a dreary round of rolling travel restrictions and lockdowns – as if the United States was permanently stuck on a skipping record of the Spring of 2020. While most of the population was able to find a way to get back to work eventually, the everyday routines of travel, dining out, and visiting friends and family were severely curtailed. Wallets stayed snapped shut. Since China executed its “COVID pivot” in late December 2022, economists have been scrutinizing the data to see if the country will be able to achieve its goal of 5% growth in 2023. If achieved, China will serve as an engine to help developed economies avoid tipping into recession. This is particularly relevant in the new era of higher interest rates, … [Read more...] about Why China’s COVID Comeback Is Still In The Early Innings, With Upside Ahead

LONDON  – Nearly half of emerging market investors are bullish on prospects for developing markets in the second quarter, a survey by HSBC showed on Thursday, thanks to rising optimism following the reopening of the Chinese economy. Some two thirds of the respondents expected emerging equities to outperform those of the developed economies in the next three months, the survey of 138 investors from 133 institutions, conducted between Jan. 24 and March 6, found. More than two thirds of the respondents expected emerging currencies to beat those of developed markets in the same period. Those surveyed represent $547 billion in assets under management. “Asia has seen the largest improvement in sentiment, largely reflecting the expectations of a strong rebound of Chinese economic activity,” said Murat Ulgen, Global Head of Emerging Markets Research at HSBC. The MSCI emerging market equity index has risen 2 percent since the start of the year, though those gains come in the wake of a … [Read more...] about Emerging market investors turn increasingly bullish for Q2, HSBC survey shows

Share to Twitter Share to Linkedin Topline A trio of American technology giants could tack on some $431 billion in market value if the U.S. bans TikTok, according to Bernstein analysis published Thursday, as the issues posed by the wildly popular Chinese-owned social media app take center stage in Washington. Key Facts Alphabet, Meta, and Snap, each of which operate short-form video platforms rivaling TikTok, would all be in line for major stock jumps if the U.S. moves forward with a TikTok shutdown, according to a note to clients Thursday from Bernstein analysts led by Mark Shmulik. Shares of YouTube Shorts parent Alphabet could jump as much as 20% should TikTok users need to flock to a replacement for their social media fix, shares of Instagram Reels parent Meta could be in line for as much as a 30% gain and shares of Snapchat Spotlight parent Snap could surge as much as 50%, according to Bernstein forecasts, using price-to-earnings multiple … [Read more...] about Banning TikTok Would Boost Alphabet, Meta And Snap—Here’s How Much Their Stocks Could Jump

Share to Twitter Share to Linkedin XRP prices have taken a tumble lately, losing value after climbing to their highest in over four months. The digital token, which serves as the native asset of the Ripple platform, fell to as little as $0.4094 this afternoon, according to CoinDesk data. At this point, the cryptocurrency was down more than 17% from the recent high of $0.4933 it reached close to 5 p.m. EST last night, additional CoinDesk figures reveal. Before reaching that value, its loftiest since November, the digital currency enjoyed an impressive rally, climbing more than 20% in under 24 hours. When explaining these recent declines, analysts pointed to a handful of variables, including profit taking and regulatory uncertainty, as well as the market’s response to the ongoing lawsuit involving Ripple, some of its key executives, and the U.S. Securities and Exchange Commission. This legal activity has generated significant visibility, as … [Read more...] about XRP Prices Fall Over 15% After Reaching Highest Since November

Share to Twitter Share to Linkedin CMO, Digital Commerce at Ascential , working closely with global brands and their customers to create their perfect digital partnerships. Brick-and-mortar stores used to be key for the retail industry. Storefronts with carefully displayed products would entice customers to come in and shop. But today, a large percentage of commerce happens through the digital space. These sales are expected to grow by 8.9% globally this year. Retailers reluctant to embrace this digital movement are missing out on potential sales. Digital transformation is essential for retailers to fully take advantage of shifting consumer behaviors. By developing a strong digital strategy that embraces content creation and is fluid enough to change with consumer preferences, retailers can reach new customers and stay competitive in the new commerce landscape. Future-Proofing Your Business Doing business in the digital landscape allows … [Read more...] about Digital Transformation Can’t Wait

U.S. President Joe Biden, left, speaks at the opening of the inaugural Summit for Democracy from the White House in Washington on Dec. 9, 2021. Korean President Yoon Suk Yeol will co-host the second Summit for Democracy next Wednesday. [AP/YONHAP] Korean President Yoon Suk Yeol will lead a plenary session on economic growth and shared prosperity as a co-host of U.S. President Joe Biden's second Summit for Democracy next week, said the presidential office Thursday. The two-day virtual summit will be held on March 29 and 30 and is expected to bring together some 120 global leaders invited by Biden. "It is meaningful that South Korea is taking the lead in tackling the global issue of a retreat in democracy through the co-hosting the second Summit for Democracy," National Security Adviser Kim Sung-han told reporters in Seoul. Kim added that the summit with be an opportunity to "demonstrate domestically and internationally how President Yoon is concretely implementing his vision of … [Read more...] about Yoon to lead session at Biden’s Summit for Democracy

President Joe Biden’s approval rating plummets towards the lowest point of his presidency on Thursday, according to a new poll. The president’s approval sank to 38% this month, nearly reaching the lowest point he has received in office where he received a 36% rating in July 2022, an AP/NORC poll found. Biden ‘s March approval has dropped from a 45% rating since February and 41% in January. “Neutral towards approval,” Andrew Dwyer, one of the respondents, told The Associated Press. “I don’t think he’s the best at representing my position and issues. But I know being president involves compromises.” Republicans overwhelmingly disapprove of the president at 96%, while the majority of Democrats approve at 76%. Only 21% of Americans believe the country is heading in the right direction, down 7 percentage points from February, a decline of both Democrats and Republicans since last month. Biden’s approval rating at 38%. — GraphicW (@GraphicW5) March 23, 2023 The … [Read more...] about Biden’s Approval Rating Sinks Towards Lowest Point Of His Presidency: POLL

Share to Twitter Share to Linkedin Topline India banned TikTok in June 2020 citing national security concerns after a military clash with China, opening the door for Instagram to dominate and some TikTok duplicates to suddenly emerge as major players in the vacated market. Key Facts Shortly after India banned TikTok, Instagram saw a surge of downloads, propelling it to become the country’s most popular social media app by 2021, up from No. 6 in 2019, and to surpass TikTok in global downloads by the fourth quarter of 2021. Key to Instagram’s success in India was Reels, its algorithm-based, endlessly scrolling vertical video feed that closely resembles TikTok’s For You Page and other TikTok copycats like YouTube Shorts and Snapchat Spotlight. Both Instagram and YouTube bet on Shorts and Reels as potential TikTok alternatives: They tested these features in India after the country banned TikTok before launching them worldwide. … [Read more...] about Here’s What Happened When This Massive Country Banned TikTok