Oracle and Walmart have agreed to acquire a 20% stake in TikTok’s global business as part of a pre-IPO financing round. Oracle will be owning about a 12.5 percent stake in the company while Walmart CEO Doug McMillon will join the company’s board.
The U.S. Department of Commerce announced Friday morning that downloads of video app TikTok and messaging app WeChat will be banned in the U.S. from Sunday (Sept 20). If a deal is not struck by 12 November, the app will be fully banned, and using as well as downloading the app will be illegal.
Sliced Tech has partnered with BlackBerry in Australia to host its secure communications portfolio, SecuSuite for Government. The partnership allows BlackBerry to offer a locally-hosted managed service to Australian government agencies and address data sovereignty concerns.
President Donald Trump signed an executive order on August 6 that would ban the TikTok app from the U.S by mid-September. TikTok has now officially filed a lawsuit against the U.S. government, saying the order violates due process and exceeds the scope of sanction rules.
In the United States, President Trump has issued an executive order looking to force China's ByteDance to divest its U.S. operations in TikTok within 90 days, in another twist to his never-ending feud with China.
Qualcomm is reportedly asking the United States government to let the semiconductor outfit sell its Snapdragon processors to Huawei, which would then be placed into 5G-capable handsets.