Wall Street Breakfast TikTok CEO, Trump talk as ban looms
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Dec 17, 2024 The CEO of TikTok is in D.C. trying to save the platform from a potential U.S. ban after meeting Trump. Alibaba is making headlines too, selling its Intime store chain while facing a hefty booking loss. Meanwhile, Meta Platforms has been ordered to pay A$50M over the Cambridge Analytica scandal. Discover insights into the latest stock movements and trends, plus details on technology stocks that continue to thrive despite challenges in the market.
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TikTok Ban Looms
- TikTok CEO met with President-elect Trump amidst a potential U.S. ban.
- The meeting occurred after TikTok requested a Supreme Court review of the ban.
Alibaba Divests InTime
- Alibaba sold its stake in InTime for approximately $1 billion, resulting in a significant loss.
- This aligns with Alibaba's strategy to focus on its core e-commerce business.
Meta Settles Privacy Suit
- Meta Platforms agreed to a $50 million settlement with Australia's privacy watchdog.
- The settlement resolves a lawsuit related to the Cambridge Analytica scandal.