Business mogul Kevin O’Leary wants to invest in a US refinery, says fossil fuels will stick around
April 13, 2023
PHOTO CREDITS: THE ECONOMIC TIMES
President Trump recently stated that he would support computer software company Oracle’s buying Tik Tok, the Chinese-owned viral video app that his administration says must be sold within the next few weeks or be banned in the US, according to the NYT. ~
At a recent event in Arizona, Trump called Oracle a “great company” and said that the firm, which specializes in enterprise software, could successfully run the app. “I think that Oracle would certainly be somebody that could handle it,” he said. The President did not say if he believed that Oracle would be a better option to take over the app than Microsoft, who has also talked with ByteDance, TikTik’s Chinese owner, about buying the app. ~
The Trump administration is trying to force the sale of TikTok over concerns that the current ownership poses a national security threat. Officials have said Chinese apps could provide a way for Beijing to seize Americans’ data, although TikTok and other Chinese firms deny this claim. Earlier this month, the Trump administration issued an order aiming to restrict TikTok and WeChat, a popular Chinese messaging service owned by Tencent. Trump said that unless sold to a different owner by Sept. 15, TikTok will have to shut down in the US. This move comes after a year-long push by the administration against Chinese telecom companies like Huawei and ZTE, including pushing major allies to abandon their products. TikTok claims that while it is owned by a Chinese company, its top executives are Americans and its user data is stored domestically. It has recently expanded its lobbying operation to fend off scrutiny from the White House and has said it planned to hire thousands of additional employees in the US. ~
India banned the app and dozens of others amid tensions with China, according to Fox Business. Members of the US Military, Wells Fargo employees, and TSA employees have been barred from downloading the app, citing security reasons, and the Senate passed a bill on Aug. 6 that would ban the app on government devices. TikTok has been downloaded more than 2 billion times, according to Sensor Tower, and it is estimated that nearly a third of its user base is under the age of 13, the NYT reported on Aug. 14. ~
ARTICLE: CONNOR KMIECIK