BYTEDANCE TIKTOK
EU charges TikTok over harmful algorithmic 'rabbit hole' effects
EU tech regulators charged social media platform TikTok on Friday with breaching the bloc's online content rules due to the so-called "rabbit hole" effect of its recommender system, which attracts users' attention to a constant stream of
Google, Meta, TikTok sue to block California youth social media law
The law, known as Assembly Bill 1709, prohibits such platforms from offering underage children "psychologically exploitative features" that could lead to compulsive use, such as providing personal recommendations and sending videos through autoplay features. It also requires the deletion of children's accounts with those features.
ByteDance founder Zhang Yiming reclaims top spot in China's rich list, thanks to his firm's AI push
The rankings released by The Hurun Research Institute on Tuesday reflected that the country's high-tech sectors were rising but others like consumer and real estate were under pressure.
Meta bans TikTok ads on its platforms in US
Meta has implemented an immediate ban on advertisements from ByteDance across its platforms in multiple countries. This decision affects various locations including the US, Canada, and Japan. The ban also targets related third-party advertisements referencing TikTok and other ByteDance services. In response to this rivalry, Meta asserts that it will continue competing on quality and user experience. TikTok has yet to publicly comment on Meta's advertising ban and actions.
TikTok agrees to teen limits in US settlement following Meta
A trial had been set to begin Monday in the southern US state over claims by Alabama that TikTok misled parents about tools meant to shield children from harmful content.
‘Daily time limits, filter controls, and account privacy’: TikTok agrees to ‘platform-level changes’ for teens, settles lawsuit with Alabama for $100 million days before trial
TikTok has agreed to pay Alabama $100 million following claims about its harmful impact on youth mental health. The settlement involves implementing safety features for teens to reduce negative effects from the platform. These features will include limiting daily usage and banning cosmetic filters for young users. Additionally, Alabama may receive further funds if other states reach similar arrangements.
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First US trial against TikTok to test claims platform fueled teen mental health crisis
An Alabama jury will hear the state's claims that TikTok and its Chinese parent company ByteDance made the platform addictive to young users and misled consumers about its safety, in the first case against the company to reach trial in the sweeping litigation
TikTok founder Zhang Yiming overtakes Gautam Adani as Asia’s richest
ByteDance founder Zhang Yiming now leads Asia's wealthiest individuals. His fortune has surpassed Gautam Adani's due to the booming artificial intelligence sector. Zhang's wealth has significantly increased, driven by ByteDance's AI ventures and TikTok's global reach. This rise highlights the growing influence of AI-driven companies over traditional industries. China's continued investment in artificial intelligence fuels this ongoing technological competition.
SoftBank shares slide 13% after AI chiefs sound alarm on safety
The company plans a ¥1 trillion ($6.5 billion) retail bond issue and a $10 billion loan linked to OpenAI shares as it finances deals such as the acquisitions of ABB Robotics and DigitalBridge. SoftBank’s also floated plans to build data centers around the world.
Portuguese group D3 sues Meta, TikTok and YouTube over addictive design
A spokesperson for Alphabet's Google, owner of YouTube, said providing people with "a safer, healthier experience has always been core to our work" and pointed to tools such as "take a break" and bedtime reminders designed to help users manage viewing habits.
China's AI chipmakers raise prices as high-bandwidth memory shortage bites
Huawei has lifted the indicated price of its Ascend 950DT accelerator card, which integrates an AI processor with memory and other components, to above 250,000 yuan ($37,255), two people said.
ByteDance secures $29.6 billion loan in AI push, sources say
ByteDance secured a massive $29.6 billion loan from nearly thirty banks. Chinese banks provided over sixty percent of this significant loan facility. The funds will primarily support ByteDance's ambitious overseas artificial intelligence expansion plans. This unsecured loan reflects strong lender confidence in the company's creditworthiness. The financing is the second-largest in Asia this year, highlighting sector enthusiasm.
Brazil fines TikTok $30 million in 'powerful signal' over child safety
Brazil's data protection agency on Tuesday fined TikTok nearly $30 million for failing to implement child safety measures in what it said was a "powerful signal" to social media companies. He said the fine of 153.7 million reais ($29.9 million) was a "powerful signal to other platforms regarding how seriously the ANPD takes this work" and that the agency hoped they "get the message".
Brazil fines TikTok owner ByteDance for unlawful processing of teenagers' data
ANPD said that the local unit of China's ByteDance had processed personal data of teenagers aged 13 to 18 without a valid legal basis. The regulator estimated that, during the period under review, TikTok may have processed the data of at least 8 million children, reflecting what it described as shortcomings in the platform's age-verification system.
TikTok agrees to $400 million US children's privacy settlement
The Justice Department sued TikTok and ByteDance in 2024 for allegedly failing to protect children's privacy, and illegally collecting their information.
ByteDance signs AI copyright pact with Hollywood trade group
The deal, which covers ByteDance's Seedance video and Seedream image-generation models, follows a cease-and-desist letter the MPA sent in February over these tools.
If TikTok Is Banned in the U.S., What Comes Next? The App May Vanish from Stores, But Will Users Still Have Access?
TikTok, the popular social media app, is facing a potential ban in the United States due to national security concerns. The U.S. government fears that the Chinese-owned platform could be used to collect data on American users.
After proposing Canada's merger with US, now Shark Tank's Kevin O'Leary is set to buy TikTok’s American business, seeks Donald Trump's help
Kevin O'Leary is currently making headlines for deciding on buying up the American business of popular social media app TikTok. This app by Bytedance is set for a ban in the US, and will be allowed to operate only if it sells of the American share of business to another buyer.
TikTok parent ByteDance's valuation hits $300 billion amid US ban uncertainty: report
ByteDance investors have viewed President-elect Donald Trump's return to the White House as an overall positive for TikTok's hopes in the US, as per the report.
ByteDance prefers TikTok shutdown in US if legal options fail: report
ByteDance considers shutting down TikTok over U.S. ban legislation, unlikely to sell due to crucial algorithms. China opposes forced sale. Mnuchin shows interest. ByteDance's secret: the TikTok algorithm.
Tik Tok ban in US: When will the video sharing app stop working for you?
The TikTok ban bill has been proposed amid concerns that ByteDance, the parent company of TikTok, could potentially grant the Chinese government access to the personal data of millions of Americans.
TikTok divestment bill would give government stronger legal position: US DOJ
The Justice Department gave a classified briefing to members of the House Energy and Commerce Committee on Thursday before the panel voted 50-0 on a bill to give ByteDance six months to divest short video app TikTok or face a US ban.
Five reasons why the US wants to ban TikTok
Members of Congress in March complained that the Chinese government has a "golden share" in ByteDance, giving it power over TikTok.
Timeline: ByteDance founder who put TikTok on global map to quit as CEO
Zhang, 38, turned ByteDance into a social media powerhouse which has also had many brushes with global regulators
How a marked-up term sheet and messy rollout threw TikTok deal into disarray
What appeared as a coup clinched by Mnuchin, a former Goldman Sachs Group Inc investment banker, did not hold. ByteDance would subsequently announce a deal under which TikTok would remain its subsidiary, contradicting Oracle and Walmart, which said the majority owners would be Americans.
China's ByteDance says TikTok will be its subsidiary under deal with Donald Trump
Trump signed an executive order on Aug. 14 giving ByteDance 90 days to sell TikTok, amid concerns that the personal data of as many as 100 million Americans that use the app could be passed on to China's Communist Party government. On Saturday, he said he supported a deal in principle that would allow TikTok to continue to operate in the United States.
ByteDance says proposal for TikTok partnership will need both Chinese and U.S. approval
The proposal, submitted to the Trump administration over the weekend, envisages Oracle becoming a "trusted" technology partner and making TikTok Global a U.S.-headquartered company. A person with knowledge of the matter told Reuters that ByteDance is to hold majority ownership of TikTok.
Trump says Oracle close to TikTok deal as ByteDance aims for majority ownership
President Donald Trump said on Tuesday he had heard Oracle Corp was very close to a deal over ByteDance's TikTok, even as sources said the Chinese company was seeking to keep majority ownership of the popular short video app.
How ByteDance's CEO Yiming Zhang balked at selling TikTok's U.S. business
China's opposition to a forced sale of TikTok, as well as concerns by major ByteDance backers such as Sequoia and General Atlantic over the financial hit of selling the popular short-video app in the United States for less than what it is worth, led Zhang to opt for the sale of only a stake to Oracle, rather than an outright divestment, the sources said.
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