Selasa, 22 September 2020

'Work from home': Johnson starts to shut down Britain again as COVID-19 spreads - CNA

LONDON: British Prime Minister Boris Johnson will tell people on Tuesday (Sep 22) to work from home and will impose new curbs on pubs, bars and restaurants in a bid to tackle the swiftly accelerating second wave of the coronavirus outbreak.

In an address to parliament at 11.30am GMT (7.30pm, Singapore time) and then to the nation at 7pm GMT (3am, Singapore time), Johnson will stop some way short of a full national lockdown of the sort he imposed in March.

"We know this won’t be easy, but we must take further action to control the resurgence in cases of the virus and protect the NHS," Johnson will say, according to excerpts of his remarks distributed by his Downing Street office.

The measures come after senior medics warned on Monday that Britain faced an exponentially growing death rate within weeks unless urgent action was taken.

"We will spare no effort in developing vaccines, treatments, new forms of mass testing, but unless we palpably make progress we should assume that the restrictions I have announced will remain in place for perhaps six months," he told parliament.

READ: UK to outline early pub closing as COVID-19 alert level raised

New COVID-19 cases are rising by at least 6,000 a day in Britain, according to week-old data, hospital admissions are doubling every eight days, and the testing system is buckling.

The new curbs will restrict the hospitality sector to table service only, by law.

Just weeks after urging people to start returning to work, Johnson will advise them to work from home if they can. He will also order all pubs, bars, restaurants and other hospitality sites across England to start closing at 10pm from Thursday.

"One of the things we are going to emphasise is that if it is possible for people to work from home, we are going to encourage them to do so," Michael Gove, the minister for the cabinet office, told Sky News.

"There is going to be a shift in emphasis."

While millions across England, Scotland, Wales and Northern Ireland are already under some form of restriction, Johnson is not expected to announce a fully fledged lockdown of the kind seen in March.

READ: Scotland's Sturgeon says tougher COVID-19 restrictions on the way

LOCKDOWN?

Britain will face an exponentially growing death rate from COVID-19 unless the government moves urgently, Chris Whitty, the government's chief medical officer, and Patrick Vallance, its chief scientific adviser, said.

The United Kingdom already has the biggest official COVID-19 death toll in Europe - and the fifth largest in the world - while it is borrowing record amounts in an attempt to pump emergency money through the damaged economy.

Gove, one of Johnson's most senior ministers, said there were many roles that could not be performed at home, in areas from manufacturing and construction to retail.

"We need to balance, obviously, the need to ensure that people can continue to work, and indeed – critically - continue to go to school and benefit from education, against taking steps to try to reduce the virus, which is why if we can limit, or appropriately restrain, social contact, that is what we are trying to do," he said.

READ: Britain is at COVID-19 tipping point, health minister says

Gove also said that schools should remain open, and employers that need their staff on premises should do so with COVID-19 safety measures in place.

"We're trying to strike a balance. We're trying to say that schools, of course, should remain open. We want workplaces where people have to be in the factory or in the shop in order to do their job to remain open in a COVID-secure way," he said in an interview with the BBC.

"The second shutdown begins", read the front-page headline of the Daily Telegraph while the Daily Mail said: "UK slammed into reverse".

Shares in Britain's listed pubs and restaurant groups fell sharply on Monday in anticipation of the move. While there is no consistent policy nationwide, the move will advance closing time by at least an hour for most areas.

London Mayor Sadiq Khan said he had agreed with local council leaders and public health experts on new COVID-19 restrictions to be put to central government, in an attempt to stem the outbreak in the capital.

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2020-09-22 11:26:34Z
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'We're confident': Russia to share legal risks of COVID-19 vaccine - CNA

MOSCOW: Russia is so confident in its COVID-19 vaccine that it will shoulder some of the legal liability should anything go wrong, rather than requiring buyers to take on the full risk, the head of the state fund bankrolling the project told Reuters.

The decision leaves the vaccine's state-backed developers open to potentially costly compensation claims should there be any unexpected side-effects. It is something many vaccine-makers have sought to avoid, by asking for full indemnity - complete protection from liability claims - from nations they sell to.

The approach is different from many places in the world. In the United States, for example, liability for COVID-19 vaccines has been shifted fully to the US government. This shields the developers because widespread inoculation against the disease is considered a benefit to society.

With the global vaccine race hotting up, and dozens of candidates being tested on humans, backers of Russia's 'Sputnik-V' shot see liability as a key battleground as they aim to capture market share.

READ: On a fast track like never before - The COVID-19 vaccine effort and 5 vital questions 

"Russia is so confident in its vaccine that it has not asked for full indemnity and this is a major differentiating factor versus any Western vaccine," said Kirill Dmitriev, head of the Russian Direct Investment Fund (RDIF), the state sovereign wealth fund that is backing the vaccine.

"All of them are asking for full indemnity of legal risks."

Dmitriev did not say whether buyers of the Russian vaccine would be asked to take on partial liability, and did not give details about indemnity clauses. His representatives said he had nothing more to add.

However, the health secretary of the Brazilian state of Bahia, which plans to buy 50 million doses of Russia's vaccine, told Reuters the legal risks would be carried by Russian entities.

READ: Widespread COVID-19 vaccinations not expected until mid-2021: WHO

Vaccine developers around the world are compressing years of development into months, raising the possibility of unexpected consequences and making the issue of compensation claims a key point in supply deal negotiations.

For example, British drugmaker AstraZeneca, which has developed a vaccine with Oxford University, has been granted full protection from any future liability claims by many countries with which it has signed supply deals, a senior executive told Reuters in July.

Dmitriev's comments came after some scientists expressed concerns about the safety and efficacy of Sputnik-V, which the Russian government approved for use before completing large-scale human trials.

READ: Commentary: The turning point in global fight against COVID-19 is approaching

BRAZILIAN BUYERS

Sputnik-V was developed by Moscow's Gamaleya Institute, a state research body. The RDIF, which is marketing the vaccine abroad, will shoulder some of the legal risks in supply contracts along with pharmaceutical firms in the fund's portfolio which are producing the shot.

"We are confident in the long-term consequences," Dmitriev said. "We are putting our money where our mouth is by not asking for full indemnity in partnerships we create in different countries."

Thus far, RDIF has announced deals to supply just over 200 million doses, half to Latin America and half to India. The fund says it has orders for as much as 1 billion doses.

Fábio Vilas-Boas, health secretary of Brazil's Bahia state, which is placing the 50-million-dose order, told Reuters the legal risks would be carried by the Russian pharmaceutical firms producing and supplying the vaccine.

"In the case of any adverse event, nothing will stop people who feel they have been harmed from filing a class action against any of the pharmaceutical companies," said Fábio Vilas-Boas, who negotiated the testing and letter of intent with RDIF.

Neither Bahia nor Paraná, a Brazilian state which plans to conduct trials of Sputnik-V on 10,000 volunteers, have actually signed contracts for supply of the vaccine, according to Bahia's Vilas-Boas and the Paraná state governor's chief of staff, Guto Silva, who also negotiated with the Russian side.

Thus far, deals have been formalised only in memoranda of understanding, as contracts are awaiting the vaccine's approval by Brazil's health regulators.

READ: Vaccine confidence volatile, vulnerable to misinformation, global study finds

INSURANCE FOR VOLUNTEERS

Russia has staked its scientific reputation on the results after approving the vaccine for domestic use before mass testing had even begun, becoming the first country to licence a COVID-19 vaccine.

Late-stage trials, known as Phase Three, are currently ongoing in Russia, with at least 40,000 volunteers taking part. Initial results are expected in October or November.

Volunteers in its Phase Three trial are unpaid, but their insurance is covered, including a payout of 2 million roubles (US$26,430) in case of death, one volunteer told Reuters.

RDIF also expects to run trials of the vaccine abroad, with plans already in place with Indian pharmaceutical firm Dr Reddy's and with Brazil's Paraná state, both pending regulatory approval.

READ: Commentary: Vaccine politics could hamper a COVID-19 recovery

Many people involved in the Sputnik-V's development, including Dmitriev, have tried the jab on themselves in a bid to convince the world of the safety of a Russian-made vaccine.

Dmitriev said he was not concerned about the risk of compensation claims against RDIF.

"We know it will not happen. Because the vaccine has been studied for decades," he said.

"We know we will not have ... billions and billions of liabilities because we have a proven platform and they don't," he said. "Simple."

BOOKMARK THIS: Our comprehensive coverage of the coronavirus outbreak and its developments

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2020-09-22 10:09:18Z
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'Work from home': Johnson starts to shut down Britain again as COVID-19 spreads - CNA

LONDON: British Prime Minister Boris Johnson will tell people on Tuesday (Sep 22) to work from home and will impose new curbs on pubs, bars and restaurants in a bid to tackle the swiftly accelerating second wave of the coronavirus outbreak.

In an address to parliament at 11.30am GMT (7.30pm, Singapore time) and then to the nation at 7pm GMT (3am, Singapore time), Johnson will stop some way short of a full national lockdown of the sort he imposed in March.

"We know this won’t be easy, but we must take further action to control the resurgence in cases of the virus and protect the NHS," Johnson will say, according to excerpts of his remarks distributed by his Downing Street office.

The measures come after senior medics warned on Monday that Britain faced an exponentially growing death rate within weeks unless urgent action was taken.

READ: UK to outline early pub closing as COVID-19 alert level raised

New COVID-19 cases are rising by at least 6,000 a day in Britain, according to week-old data, hospital admissions are doubling every eight days, and the testing system is buckling.

The new curbs will restrict the hospitality sector to table service only, by law.

Just weeks after urging people to start returning to work, Johnson will advise them to work from home if they can. He will also order all pubs, bars, restaurants and other hospitality sites across England to start closing at 10pm from Thursday.

"One of the things we are going to emphasise is that if it is possible for people to work from home, we are going to encourage them to do so," Michael Gove, the minister for the cabinet office, told Sky News.

"There is going to be a shift in emphasis."

While millions across England, Scotland, Wales and Northern Ireland are already under some form of restriction, Johnson is not expected to announce a fully fledged lockdown of the kind seen in March.

READ: Scotland's Sturgeon says tougher COVID-19 restrictions on the way

LOCKDOWN?

Britain will face an exponentially growing death rate from COVID-19 unless the government moves urgently, Chris Whitty, the government's chief medical officer, and Patrick Vallance, its chief scientific adviser, said.

The United Kingdom already has the biggest official COVID-19 death toll in Europe - and the fifth largest in the world - while it is borrowing record amounts in an attempt to pump emergency money through the damaged economy.

Gove, one of Johnson's most senior ministers, said there were many roles that could not be performed at home, in areas from manufacturing and construction to retail.

"We need to balance, obviously, the need to ensure that people can continue to work, and indeed – critically - continue to go to school and benefit from education, against taking steps to try to reduce the virus, which is why if we can limit, or appropriately restrain, social contact, that is what we are trying to do," he said.

READ: Britain is at COVID-19 tipping point, health minister says

Gove also said that schools should remain open, and employers that need their staff on premises should do so with COVID-19 safety measures in place.

"We're trying to strike a balance. We're trying to say that schools, of course, should remain open. We want workplaces where people have to be in the factory or in the shop in order to do their job to remain open in a COVID-secure way," he said in an interview with the BBC.

"The second shutdown begins", read the front-page headline of the Daily Telegraph while the Daily Mail said: "UK slammed into reverse".

Shares in Britain's listed pubs and restaurant groups fell sharply on Monday in anticipation of the move. While there is no consistent policy nationwide, the move will advance closing time by at least an hour for most areas.

London Mayor Sadiq Khan said he had agreed with local council leaders and public health experts on new COVID-19 restrictions to be put to central government, in an attempt to stem the outbreak in the capital.

BOOKMARK THIS: Our comprehensive coverage of the coronavirus outbreak and its developments

Download our app or subscribe to our Telegram channel for the latest updates on the coronavirus outbreak: https://cna.asia/telegram

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2020-09-22 07:26:28Z
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Senin, 21 September 2020

Beijing unlikely to approve ByteDance's TikTok deal with Oracle: Report - CNA

SHANGHAI: A deal China's ByteDance has struck with Oracle and Walmart over the future of its video-streaming app TikTok is unlikely to receive Chinese government approval, state-backed newspaper Global Times said in an editorial.

ByteDance has said it will create a US subsidiary, TikTok Global, that will be part-owned by Oracle and Walmart - which in turn said TikTok Global's board would comprise mainly Americans - to pacify the administration of US President Donald Trump which had planned to ban TikTok on security grounds.

"It is clear that these articles (terms) extensively show Washington's bullying style and hooligan logic. They hurt China's national security, interests and dignity," said the English version of the editorial published late on Monday and which was also carried in the newspaper's Chinese edition.

The unidentified author objected to a requirement that four of the five board seats of TikTok Global be occupied by Americans and only one reserved for a Chinese national, as well as the inclusion of a US-approved "national security director".

READ: ByteDance, Oracle at loggerheads over terms of TikTok agreement

It also denounced a requirement that ByteDance reveal TikTok's source code to Oracle as part of the latter's stake purchase, as well as the separate management of TikTok from Chinese equivalent Douyin.

"As TikTok and Douyin should have the same source code, this means the US can get to know the operations of Douyin," the editorial continued.

"If the reorganization of TikTok under US manipulation becomes a model, it means once any successful Chinese company expands its business to the US and becomes competitive, it will be targeted by the US and turned into a US-controlled company via trickery and coercion, which eventually serves only US interests," the author wrote.

The Global Times is a tabloid published by the People's Daily, the official newspaper of China's ruling Communist Party, but does not speak on behalf of the party and government unlike its parent publication.

Over the weekend, ByteDance and Oracle announced they had reached a deal that would satisfy Trump's call for TikTok to be sold to an American buyer or face shutdown in the United States.

READ: Trump to 'cut off' TikTok if deal cannot be saved

However, both sides have framed the deal differently in public statements.

ByteDance has said TikTok Global will be its subsidiary of which it will own 80 per cent.

Oracle has said ByteDance's ownership would be distributed to ByteDance's investors, many of which are US-based and that the Beijing-based firm itself would have no stake in TikTok Global.

The deal requires approval from regulators in both Beijing and Washington.

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2020-09-22 02:08:40Z
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Beijing says support for Taiwan independence 'doomed to fail' - CNA

BEIJING: China ramped up its rhetoric over Taiwan on Monday (Sep 21), describing any support for its independence as "doomed to fail", and threatened retaliation against US diplomatic visits to the island.

Taiwan has been ruled separately from China since the end of a civil war in 1949, but Beijing considers the island part of its territory awaiting reunification.

The island is a flashpoint with Washington, which promises military support to the elected government and has sent two envoys to Taipei in as many months.

At a press briefing Monday, the foreign ministry said that the envoys' visits were a "political provocation" and threatened retaliation.

"China will take appropriate countermeasures, including targeting relevant individuals," said foreign ministry spokesman Wang Wenbin, without elaborating.

He warned that the US actions will "further damage the cooperation" between the US and China.

Wang added that any support for Taiwan's independence is a "dead end ... doomed to fail".

Washington switched diplomatic recognition to Beijing in 1979.

Beijing rejects any recognition of Taiwan and has mounted a decades-long policy of marginalising the democratic island.

Washington's increased outreach to Taiwan under President Donald Trump is among a catalogue of sore points with Beijing as the countries clash over issues including trade, security and the coronavirus pandemic.

The US Undersecretary of State for economic growth, energy and the environment Keith Krach wrapped up a trip to Taiwan at the weekend, following on the heels of a trip by US health chief Alex Azar in August.

READ: Taiwan military says it has right to counter attack amid China threats

Last Friday, Taiwan scrambled fighter jets as the Chinese military conducted exercises near the Taiwan Strait during Krach's visit.

US Secretary of State Mike Pompeo accused China of "military blustering".

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2020-09-21 10:48:08Z
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HSBC shares sink to 25-year low in HK, StanChart sags over dirty money scandal - CNA

HONG KONG: HSBC and Standard Chartered's Hong Kong shares dropped on Monday (Sep 21) after media reports that they and other banks, including Barclays and Deutsche Bank, moved large sums of allegedly illicit funds over nearly two decades despite red flags about the origins of the money.

BuzzFeed and other media reports were based on leaked suspicious activity reports (SARs) filed by banks and other financial firms with the US Department of Treasury's Financial Crimes Enforcement Network (FinCen).

The revelations underscore challenges for regulatory and financial institutions trying to stop the flow of dirty money despite billions of dollars of investments and penalties imposed on banks in the past decade.

HSBC shares in Hong Kong tanked 5.33 per cent to close at HK$29.30 - a level not seen since mid-1995.

StanChart plunged 6.18 per cent to close at HK$34.90. The Hang Seng Index was down 2.06 per cent.

READ: FinCEN documents reportedly show banks moved illicit funds

London-headquartered HSBC and StanChart, among other global banks, have paid billions of dollars in fines in recent years for violating US sanctions on Iran and anti-money laundering rules.

The media reports come at a tough time for the two UK lenders, both of which make the bulk of their profits in Asia, and are reeling from the impact of the COVID-19 pandemic, US-China tensions and political uncertainty in Hong Kong.

Bharath Vellore, APAC managing director at Accuity, a financial crime and sanctions lists screening software provider, said the leaked files, if true, demonstrated the need for banks to enhance their due diligence on their customers.

"It also strengthens the recent regulatory focus on the banks to identify sources of funds and beneficial owners of their customers," he added.

More than 2,100 SARs, which are in themselves not necessarily proof of wrongdoing, were obtained by BuzzFeed News and shared with the International Consortium of Investigative Journalists (ICIJ) and other media organisations.

The files contained information about more than US$2 trillion worth of transactions between 1999 and 2017, which were flagged by internal compliance departments of financial institutions as suspicious.

The ICIJ reported the leaked documents were a tiny fraction of the reports filed with FinCEN. HSBC and StanChart were among the five banks that appeared most often in the documents, the ICIJ reported.

READ: Hong Kong financial firms step up compliance hiring amid US sanctions, security law

COMBATING FINANCIAL CRIME

The SARs showed that banks often moved funds for companies that were registered in offshore havens, such as the British Virgin Islands, and did not know the ultimate owner of the account, the report said.

Staff at major banks often used Google searches to learn who was behind large transactions, it said.

In some cases the banks kept moving illicit funds even after US officials warned them they could face criminal prosecutions if they continued to do business with criminals or corrupt regimes, it said.

Global banks in the recent years have boosted investments on technology and staff to deal with tighter anti-money laundering and sanctions regulatory requirements across the world.

Thousands of clients were booted out of bank accounts in major wealth hubs including Hong Kong and Singapore after a money laundering scandal in Malaysia, the "Panama Papers" expose, and a global push for tax transparency.

READ: US 'dismayed' by HSBC's reported actions over Hong Kong accounts

In a statement to Reuters on Sunday, HSBC said "all of the information provided by the ICIJ is historical". The bank said that as of 2012 it had embarked on a "multi-year journey to overhaul its ability to combat financial crime".

StanChart said in a statement it took its "responsibility to fight financial crime extremely seriously and have invested substantially in our compliance programmes".

Barclays said it believes it has complied with "all its legal and regulatory obligations, including in relation to US sanctions."

The most number of SARS in the cache related to Deutsche Bank. In a statement on Sunday, Deutsche Bank said the ICIJ had "reported on a number of historic issues".

"We have devoted significant resources to strengthening our controls and we are very focused on meeting our responsibilities and obligations," a spokesperson for the bank said.

FinCen said in a statement on its website on Sep 1 that it was aware that various media outlets intended to publish a series of articles based on unlawfully disclosed SARs, as well as other documents.

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2020-09-21 08:26:15Z
52781074177459

Minggu, 20 September 2020

China's ByteDance gets Trump nod to avoid TikTok shutdown - CNA

WASHINGTON/NEW YORK: US President Donald Trump said on Saturday (Sep 19) he supported a deal in principle that would allow TikTok to continue to operate in the United States, even as it appeared to conflict with his earlier order for China's ByteDance to divest the video app.

ByteDance was racing to avoid a crackdown on TikTok after the US Commerce Department said on Friday it would block new downloads and updates to the app come Sunday. US officials had expressed concern that the personal data of as many as 100 million Americans that use the app were being passed on to China's Communist Party government.

Trump signed an executive order on Aug 14 giving ByteDance 90 days to sell TikTok. The deal announced on Saturday, however, is structured as a partnership rather than a divestment.

TikTok will be owned by a new company called TikTok Global and will be headquartered in the United States, possibly in Texas, Trump said. Oracle Corp will take a 12.5 per cent stake in TikTok Global and store all its US user data on its cloud to comply with US national security requirements, the companies said. 

Retail giant Walmart said it would take a 7.5 per cent stake in TikTok Global. The implied valuation for TikTok Global as a result of these investments could not be learned.

While Oracle and Walmart said that TikTok Global will be majority-owned by US investors, this is the case only if one takes into account ByteDance's investor base, according to a source familiar with the matter who requested anonymity to discuss the deal's structure. This is because ByteDance will own 80 per cent of TikTok Global, the source said.

READ: China's ByteDance seeks US$60b TikTok valuation in US deal: Report

Given that US investors currently own about 40 per cent of ByteDance, the White House will count that towards how much of TikTok Global is owned by US parties, the source added. As a result, Oracle, Walmart, and ByteDance's US investors will own, directly or indirectly, about 53 per cent of TikTok Global, a second source said.

Beijing-based ByteDance did not immediately respond to a request for comment. Walmart and Oracle also did not offer more information on TikTok Global's ownership structure.

It was not immediately clear what spurred the White House to compromise on its push for an outright sale of TikTok. However, the deal comes with pledges that cater to Trump's 'America First' policy agenda. It also averts alienating TikTok's young users ahead of the Nov 3 US election.

ByteDance agreed to create 25,000 new US jobs at TikTok, up from a little over 1,000 now. Trump, who had previously called on companies such as Oracle and Walmart to pay the United States a "fee" to participate in the TikTok deal, said there would also be a US$5 billion US education fund as part of the deal.

"I said, you know, do me a favour, could you put up US$5 billion into a fund for education so we can educate people as to the real history of our country, not the fake history," Trump told a rally of supporters in Fayetteville, North Carolina on Saturday.

ByteDance said in a social media post on Sunday that it was not aware it was setting up a US$5 billion education fund in the United States.

Oracle and Walmart described the agreement differently. They said that together with ByteDance top investors General Atlantic, Sequoia and Coatue they would create an educational initiative to deliver an artificial-intelligence driven online video curriculum for children, from basic reading and math to science, history and computer engineering.

US President Donald Trump
US President Donald Trump talks to reporters as he departs for campaign travel to Minnesota from the South Lawn at the White House in Washington, on Sep 18, 2020. (Photo: REUTERS/Kevin Lamarque)

The companies did not say how much they would spend on the education initiative. However, they said TikTok Global would pay more than US$5 billion in new taxes to the US Treasury.

While ByteDance will get to keep TikTok's source code under the deal, Oracle will get to inspect it. Oracle CEO Safra Catz said her company was "100 per cent confident in our ability to deliver a highly secure environment to TikTok and ensure data privacy to TikTok's American users, and users throughout the world".

Catz served on Trump's transition team in 2016, while Oracle's co-founder and chairman Larry Ellison is one of the few top technology executives to openly support the US president.

READ: US judge halts Commerce Department order to remove WeChat from app stores

ByteDance also had to give up some of its control of TikTok. Reuters reported on Thursday that TikTok Global would have a majority of American directors, a US chief executive and a security expert on the board. Walmart said on Saturday its CEO Doug McMillon would serve as one of the five board members of TikTok Global.

It is possible that ByteDance's ownership of TikTok will be reduced further next year. Reuters was first to report on Thursday that ByteDance is planning an initial public offering (IPO) of TikTok Global. The filing of the IPO would be on a US stock exchange and could come in about a year.

CFIUS APPROVAL

The Commerce Department said on Saturday it would delay by one week an order that had been set to take effect late Sunday that would have forced Alphabet Inc's Google and Apple Inc to stop offering TikTok for download, so the TikTok deal can be completed. The Committee on Foreign Investment in the United States (CFIUS), the US government panel overseeing the deal talks, has to approve the transaction.

Oracle beat out Microsoft Corp , which said last week that its offer to acquire TikTok's US business was rebuffed by ByteDance.

The Trump administration has stepped up its efforts to purge what it deems "untrusted" Chinese apps from US digital networks. An order to require app stores to stop downloads of Tencent Holding's WeChat is still set to take effect Sunday night.

TikTok interim chief executive Vanessa Pappa said in a video posted on Saturday that "Tiktok is here to stay."

China also has to approve the deal. "We'll see whether or not it all happens," Trump said.

The first Chinese reaction to the deal came from Global Times, which is published by the People's Daily, the official newspaper of China's ruling Communist Party. Global Times editor Hu Xijin said "this scheme is still unfair, but it avoids the worst result that TikTok is shut down or sold to a US company completely".

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2020-09-21 04:51:36Z
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