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(Bloomberg) — Facebook Inc., Google and Twitter Inc. — all of which are blocked in the mainland — are now headed toward a showdown with China that could end up making Hong Kong feel more like Beijing.
Hours after Hong Kong announced sweeping new powers to police the internet on Monday night, those companies plus the likes of Microsoft Corp. and Zoom Video Communications Inc. all suspended requests for data from the Hong Kong government. ByteDance Ltd.’s TikTok, which has Chinese owners, announced it would pull its viral video app from the territory’s mobile stores in the coming days even as President Donald Trump threatened to ban it in the U.S.
Their dilemma is stark: Bend to the law and infuriate Western nations increasingly at odds with China over political freedoms, or simply refuse and depart like Google did in China a decade ago over some of the very same
TikTok is the popular mobile app of the moment, one often used by teenagers to make funny musical videos, while it’s also sometimes used to make political statements. But now, the U.S. Secretary of State is threatening to ban the app, which is owned by the Chinese company Bytedance, in the United States.
Appearing on Laura Ingraham’s Fox News show on Monday night, Secretary of State Mike Pompeo said that such a ban is under consideration.
Following news that India has banned the app and Australia is considering following suit, Ingraham asked Pompeo, “shouldn’t we be considering, right now, tonight, a ban on Chinese social media apps, especially Tiktok?”
“We’re taking this very seriously, we’re certainly looking at it. We’ve worked on this very issue for a long time, whether it’s having Huawei technology in your infrastructure, we’re gone all over the world
For Immediate Release
Chicago, IL – June 30, 2020 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: China Mobile CHL, Deutsche Telecom AG DTEGY, Zoom Video ZM and FedEx FDX.
Here are highlights from Monday’s Analyst Blog:
Picking Up Steam… Or Scared? Global Week Ahead
The Global Week Ahead? Trading it is all about Thursday’s U.S. nonfarm payroll print (not Friday!).
In front of that tale for the tape, traders get the private ADP payroll data on Wednesday.
Stagnant share markets need to see a positive jobs surprise. The rising coronavirus data in the U.S. is not helping sentiment globally.
Consensus is looking for 3 million job adds on the ADP data and 4 million job adds, give or take
For Immediate Release
Chicago, IL – July 2, 2020 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Ciena Corp. CIEN, United States Cellular Corp. USM, T-Mobile US, Inc. TMUS and Nokia Corp. NOK.
Here are highlights from Wednesday’s Analyst Blog:
Solid Q2 for Wall Street Despite Economic Turmoil
The current state of affairs in the second quarter of 2020 was a bit of an oxymoron for the Americans — on one hand, the Wall Street recorded the best quarter in more than two decades, while on the other the U.S. economy was hit by the coronavirus-induced recession. Strange as it might appear at the outset, the contrasting characteristics highlighted the vagaries of the market and the turbulent economic conditions that
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