In this photo illustration a TikTok logo seen displayed on a smartphone. (Photo Illustration by Mateusz Slodkowski/SOPA Images/LightRocket via Getty Images)
TikTok CEO Shou Zi Chew is headed to Congress to testify before the House Energy and Commerce Committee to address questions about the social media platform's privacy and data security practices, its impact on kids, and its relationship with the Chinese government.
"ByteDance-owned TikTok has knowingly allowed the ability for the Chinese Communist Party to access American user data," Committee Chair Cathy McMorris Rodgers (R-Wash. 5th District) said in a press release. "Americans deserve to know how these actions impact their privacy and data security, as well as what actions TikTok is taking to keep our kids safe from online and offline harms."
TikTok denied charges that it has shared personal information with the Chinese Communist Party. “We welcome the opportunity to set the record straight about TikTok, ByteDance, and the commitments we are making to address concerns about U.S. national security before the House Committee on Energy and Commerce," the company said in a statement.
Despite these claims, a number of state governments and universities have banned the use of TikTok on government-owned computer devices in recent weeks. Biden passed a similar ban for the federal government at the end of last year.
Rodgers noted that the hearing fits into the committee's recent pattern of scrutinizing Big Tech.
“We’ve made our concerns clear with TikTok,” she said. "It is now time to continue the committee’s efforts to hold Big Tech accountable by bringing TikTok before the committee to provide complete and honest answers for people.”
The hearing on March 23 will be Chew's first official visit to Capitol Hill. The executive has largely avoided the limelight since taking over in April 2021, while Chief Operating Officer Vanessa Pappas has served as the company's public face in the U.S.
Nvidia on Wednesday became the first public company to reach a market capitalization of $5 trillion. The ravenous appetite for the Silicon Valley company’s chips is the main reason that the company’s stock price has increased so rapidly since early 2023.
Chris Williamson, Chief Business Economist at S&P Global, breaks down September’s CPI print and inflation trends, explaining what it means for markets.
A big-screen adaptation of the anime “Chainsaw Man” has topped the North American box office, beating a Springsteen biopic and “Black Phone 2.” The movie earned $17.25 million in the U.S. and Canada this weekend. “Black Phone 2” fell to second place with $13 million. Two new releases, the rom-com “Regretting You” and “Springsteen — Deliver Me From Nowhere,” earned $12.85 million and $9.1 million, respectively. “Chainsaw Man – The Movie: Reze Arc” is based on the manga series about a demon hunter. It's another win for Sony-owned Crunchyroll, which also released a “Demon Slayer” film last month that debuted to a record $70 million.
The Federal Aviation Administration says flights departing for Los Angeles International Airport were halted briefly due to a staffing shortage at a Southern California air traffic facility. The FAA issued a temporary ground stop at one of the world’s busiest airports on Sunday morning soon after U.S. Transportation Secretary Sean Duffy predicted that travelers would see more flights delayed as the nation’s air traffic controllers work without pay during the federal government shutdown. The hold on planes taking off for LAX lasted an hour and 45 minutes and didn't appear to cause continued problems. The FAA said staffing shortages also delayed planes headed to Washington, Chicago and Newark, New Jersey on Sunday.
Boeing workers at three Midwest plants where military aircraft and weapons are developed have voted to reject the company’s latest contract offer and to continue a strike that started almost three months ago. The strike by about 3,200 machinists at the plants in the Missouri cities of St. Louis and St. Charles, and in Mascoutah, Illinois, is smaller in scale than a walkout last year by 33,000 Boeing workers who assemble commercial jetliners. The president of the International Association of Machinists says Sunday's outcome shows Boeing hasn't adequately addressed wages and retirement benefits. Boeing says Sunday's vote was close with 51% of union members opposing the revised offer.
The stunning indictment that led to the arrest of more than 30 people — including Miami Heat guard Terry Rozier and other NBA figures — has drawn new scrutiny of the booming business of sports betting in the U.S. The multibillion-dollar industry has made it easy for sports fans — and even some players — to wager on everything from the outcome of games to that of a single play with just a few taps of a cellphone. But regulating the rapidly-growing industry has proven to be a challenge. Professional sports leagues’ own role in promoting gambling has also raised eyebrows.
