ibt-mailJan 15, 2025, 9:56 AM

Ban Or Buyout? The Clock Is Ticking On TikTok In The US

Newsletter Jan 15, 2025 Quick Six Ban or buyout? The clock is ticking on TikTok ban in the US TikTok faces an imminent shutdown in the US after Congress passed a law last year forcing Chinese owner

Newsletter Jan 15, 2025

Quick Six

Ban or buyout? The clock is ticking on TikTok ban in the US
TikTok faces an imminent shutdown in the US after Congress passed a law last year forcing Chinese owner ByteDance to either sell the platform or close it by Sunday. The US Supreme Court is expected to rule this week on TikTok's challenge to the law, and President-elect Donald Trump may have other plans. Following a hearing, expectations are high that the law will stand. Under a ban, the US would direct Apple and Google to remove TikTok from their app stores, but the app would remain on the phones of the existing 170 million US users unless TikTok directly blocks it.
SEE THE MOST LIKELY SCENARIOS FOR TIKTOK IN THE US

US approves ban on vehicles utilizing Chinese technology
The US finalized a rule Tuesday effectively barring Chinese technology from cars in the US market, taking aim at software and hardware from the world's second biggest economy over national security risks. The announcement comes as President Joe Biden wraps up efforts to step up curbs on China, and after a months-long regulatory process. The rule follows an announcement that Washington is mulling new restrictions to address risks posed by drones with tech from adversaries like China and Russia.
CHINESE AUTOMAKERS SEEK TO DOMINATE INDUSTRY

Wholesale inflation much lower than expected in December
Wholesale prices only rose half of what was predicted in December, showing progress in the battle against inflation. The Producer Price Index for final demand advanced 0.2% while the consensus ahead of the release was a rise of 0.4%. Final demand prices rose 0.4% in November and 0.2% in October, according to the U.S. Bureau of Labor Statistics. The index for final demand increased 3.3% in 2024 after moving up 1.1% in 2023.
1 IN 10 AMERICANS BLEW UP HOLIDAY CREDIT CARD DEBT

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Markets

DJIA	42,518.28	0.52%
S&P 500	5,842.91	0.11%
Nasdaq Composite	19,044.39	-0.23%
Japan: Nikkei 225	38,470.74	-0.01%
UK: FTSE 100	8,201.54	-0.28%
Crude Oil Futures	77.69	0.25%
Gold Futures	2,689.70	0.28%
Yen	157.88	-0.06%
Euro	1.03	-0.08%
* As of market close

Federal probe underway into LA wildfires

A huge federal probe was under way Tuesday into what caused the deadly LA wildfires, with millions in the city clamoring for answers. Social media has exploded with theories about what started blazes that tore through the city of Altadena and the upmarket neighborhood of Pacific Palisades, killing at least 24 people and leaving communities in ruins. Suggestions include downed power lines, deliberate arson, a stray firework and the reignition of an earlier fire. The ATF is working with local law enforcement, as well as the Forest Service and the US Attorney's office, in an operation that will involve around 75 people.

SEE THE TOP THEORIES ABOUT THE ORIGINS OF THE FIRES

US, Japan ready to 'rideshare' to the Moon

Lunar landers built by US and Japanese companies were poised to "rideshare" to the Moon, showcasing the private sector's growing role in space exploration. SpaceX targeted a Wednesday liftoff of a Falcon 9 rocket from the Kennedy Space Center in Florida. On board are two privately developed, uncrewed lunar landers: Firefly Aerospace's Blue Ghost and ispace's Resilience from Japan. Both aim to build on the success of Texas-based Intuitive Machines, which last year became the first company to successfully touch down on Earth's celestial neighbor.

SEE WHAT SCIENTISTS HOPE TO LEARN FROM DUAL MISSION

Starbucks reverses rules on bathroom use

Starbucks has stirred the coffee pot by reversing a policy that allowed anyone to use its bathrooms, with the US public warned they'll need to buy something or get out. In a new code of conduct, the hot drink behemoth that boasts 29,000 retail stores in 78 markets said it wanted "to ensure our spaces are prioritized for use by our customers." That includes the chain's cafes, patios and restrooms, according to the policy, which Starbucks noted is something most retailers enforce.

BUY SOMETHING OR LEAVE: SEE WHY STARBUCKS SWITCHED

Extra point

When and where did Starbucks open its first store outside the US?

Tuesday's answer: The 1957 kidnapping and murder and kidnapping of Illinois 7-year-old Maria Ridulph is the nation's oldest solved cold case.

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