OpenAI Reportedly Eyes Late-2026 IPO Amid Rising Competition and Massive Funding Needs 
Bob Iger Plans Early Exit as Disney Board Prepares CEO Succession Vote 
American Airlines Plans Return to Venezuela Flights After U.S. Lifts Ban 
Chinalco and Rio Tinto Acquire Controlling Stake in Brazil’s CBA for $903 Million 
Climate Adaptation at Home: How Irrigreen Makes Conservation Effortless 
Apple Earnings Beat Expectations as iPhone Sales Surge to Four-Year High 
Panama Supreme Court Voids CK Hutchison Port Concessions, Raising Geopolitical and Trade Concerns 
Boeing Secures New Labor Contract With Former Spirit AeroSystems Employees 
Elon Musk’s SpaceX Explores Merger Options With Tesla or xAI, Reports Say 
Toyota Retains Global Auto Sales Crown in 2025 With Record 11.3 Million Vehicles Sold 
Trump Threatens Aircraft Tariffs as U.S.-Canada Jet Certification Dispute Escalates 
Panama Supreme Court Voids Hong Kong Firm’s Panama Canal Port Contracts Over Constitutional Violations 
Saks Global to End Saks on Amazon Partnership Amid Bankruptcy Restructuring 
Apple Faces Margin Pressure as Memory Chip Prices Surge Amid AI Boom 
Apple Forecasts Strong Revenue Growth as iPhone Demand Surges in China and India 
TikTok is being sold to American companies Walmart and Oracle, but the deal was put on hold by Joe Biden’s administration. It was reported that the POTUS stopped the sale to review security concerns.
Acquisition of TikTok by American firms to be reviewed
The move seems to show that President Biden is backing Donald Trump in his suspicions that some Chinese tech companies pose a serious security threat in the country. As per The Wall Street Journal, sources who are familiar with the matter revealed that the TikTok deal weakened after the video-sharing service company’s owner ByteDance Ltd. continues to file legal disputes to prove that the service is not a threat to the nation’s security.
Also, there is an ongoing talk between ByteDance and the national security officials. The discussions are mainly about data security and methods on how to prevent the Chinese government from accessing the information that TikTok collects on American users.
“We plan to develop a comprehensive approach to securing U.S. data that addresses the full range of threats we face,” Emily Horne, spokesperson for the National Security Council, said in a statement. “This includes the risk posed by Chinese apps and other software that operate in the U.S. In the coming months, we expect to review specific cases in light of a comprehensive understanding of the risks we face.”
Then again, it is uncertain how the issues with TikTok and its sale to Oracle and Walmart will be solved. It is up to the Biden administration if this deal could still materialize in the future.
Biden’s action on the TikTok sale
Former US president, Donald Trump, issued an executive order that banned Chinese companies from operating in the country. As a result, many tech companies, including Huawei and others, were pulled out.
The ex-POTUS also forced the sale of TikTok to American groups Oracle Corp and Walmart Inc. since the change in ownership will allow it to run. But as mentioned, Biden wants this transaction to be reviewed first before proceeding.
During a press briefing on Feb. 10 at the White House, Press Secretary Jen Psaki told reporters the government hadn’t taken any new actions on the TikTok sale yet. “It’s not accurate to suggest that there is a new proactive step by the Biden White House,” CNBC News quoted her as saying. “There is a rigorous CFIUS process that is ongoing.”
