Finance

U.S. appeals choose’s ruling that blocked U.S. ban on TikTok downloads

u-s-appeals-chooses-ruling-that-blocked-u-s-ban-on-tiktok-downloads

© Reuters. FILE PHOTO: TikTok’s logo is displayed on the smartphone while standing on the U.S. flag in this illustration

WASHINGTON (Reuters) – The U.S. government said in a court filing on Thursday it was appealing a judge’s ruling that prevented it from prohibiting new downloads of the Chinese-owned short video-sharing app TikTok.

The Justice Department said it appealed the order to the U.S. Court of Appeals for the D.C. Circuit.

In late September, a U.S. judge temporarily blocked a Trump administration order that was set to bar Apple Inc (O:) and Alphabet Inc’s Google (O:) from offering new TikTok downloads.

China’s ByteDance, which owns TikTok, has been under pressure to sell the popular app. The White House contends that TikTok poses national security concerns as personal data collected on 100 million Americans who use the app could be obtained by China’s government. Any deal will also still need to be reviewed by the U.S. government’s Committee on Foreign Investment in the United States (CFIUS).

Negotiations are under way for Walmart Inc (N:) and Oracle Corp (N:) to take stakes in a new company, TikTok Global, that would oversee U.S. operations.

But key terms of the deal – including who will have majority ownership – are in dispute. ByteDance has also said any deal will need to be approved by China. Beijing has revised its list of technologies subject to export bans in a way that gives it a say over any TikTok deal.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

0 Comments
Share

Steven Gregory