Implications of TikTok's Potential Shutdown and ByteDance's Response

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The chapter examines the likelihood of a TikTok sale being ruled out, analyzing the implications for ByteDance, influencers, and users worldwide. It also covers TikTok's legal response, including potential challenges in court, and reflects on the broader impact on international companies following Congress's actions.

The New York Stock Exchange is polling market participants on the merits of trading stocks around the clock, ByteDance ready to ‘move to the courts’ after the US pushes ahead with a bill demanding the Chinese parent sell its viral app in the country, and traders have built up bets that the Federal Reserve could actually raise interest rates. Plus, Goldman Sachs has relocated its head of financial institutions group for Europe from London to Paris.

Mentioned in this podcast:

Goldman Sachs moves senior banker to Paris in post-Brexit revamp

TikTok gears up for legal fight in US to prevent ban

Investors price in growing chance of further Fed rate rises

New York Stock Exchange tests views on round-the-clock trading

The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Denise Guerra, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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