Washington's tariff volatility masks a broader battle for tech dominance: Pictet
Pictet Research Institute's Maria Vassalou says the U.S. is walking a tightrope, relying on Chinese rare earths to maintain tech supremacy, while imposing tariffs to slow Beijing's challenge.
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Yahoo
16 minutes ago
- Yahoo
Trump Says He Has a US Buyer for TikTok
This story was originally published on Social Media Today. To receive daily news and insights, subscribe to our free daily Social Media Today newsletter. Checking in on the U.S. TikTok saga, on the 162nd day since the app was banned in the U.S. by federal law. Of course, TikTok hasn't actually been banned despite this, because U.S. President Donald Trump has 'a warm spot' in his heart for the app, and keeps delaying enforcement of the law via executive orders. But technically, TikTok should not be available to Americans, as it hasn't established a deal with a U.S. partner, in line with legislation. So are we any closer to reaching a new agreement on this front? Well, that depends on which reports you choose to believe. According to Trump himself, a deal is all but finalized, with 'a group of very wealthy people' ready to sign on to partner with TikTok's parent company ByteDance on a new regional agreement. President Trump told Fox News' 'Sunday Morning Futures' program that: 'We have a buyer for TikTok by the way. I think I'll need probably China approval, and I think President Xi will probably do it, you know?' Trump said that he'll have more to share on the deal in 'about two weeks,' with, again, a group of very wealthy partners ready to invest in the U.S. operations of the app. Which, given the various names floated as potential U.S. buyers for the platform makes sense, as everyone from Oracle's Larry Ellison, to Shark Tank's Kevin O'Leary, to YouTube celebrity MrBeast has reportedly put in a bid for the American stake of the app. Who, exactly, Trump is referring to, however, we can only speculate, but Oracle has long seemed like the most logical partner for the platform, given its past relationship with TikTok U.S. Back in April, The Information reported that a new entity called 'TikTok America' would be formed to meet the app's legal ownership requirements, which would be 50% owned by a consortium made up of Oracle, Blackrock, and Andreesen Horowitz, among others. Trump's latest statements seemingly point to this being the likely make-up of the final deal, which would also see ByteDance retain a 19.9% stake in the app. So it does seem like a U.S. TikTok deal is close, but then again… Last week, Axios reported that TikTok sales negotiations had stalled, with some potential suitors, including billionaire Frank McCourt, saying that things had gone very quiet in the lead-up to the latest ban extension. As per Axios: 'Negotiations between potential bidders and the White House were being led by the vice president's office, but talks slowed ahead of the third ban delay […] U.S. bidders remain eager to strike a deal, but getting the Chinese government's sign-off will require intervention from the U.S. government, which is currently distracted by several other foreign policy obstacles.' Of course, both of these reports may well be true. It could be that the White House is already closing in on one deal, which is freezing out other bidders, which would make it appear as though things had stalled, when actually an agreement is closer than ever. But we don't know, and no one outside of the U.S. officials arranging the sale, and the Chinese government executives negotiating the same, can actually provide any direct insight into what's happening. And aside from President Trump, there's nothing else to go on at this stage. So maybe we're closer to the end, but it does ultimately seem to hinge on broader foreign policy developments, and the progression of U.S.-China trade talks leading into the next TikTok sale deadline. Which is now set to come into effect on September 17th. So maybe we get an update before then, though I wouldn't be expecting anything much for a while yet, given the extended timeline, and the negotiations still to come with Chinese officials. They haven't been rushed to make a deal thus far, and I don't see why they will be now, given the knowledge that Trump will likely just extend the negotiation period once again if things can't be worked out. Which, despite some legal and regulatory concerns, he can do, by submitting further executive orders to withhold enforcement of the TikTok ban. So maybe we hear something in the next two weeks, but probably not, and the only real deadline we have is still some time away. Recommended Reading Trump Says He May Extend TikTok Sell-off Deadline Once Again
Newsweek
19 minutes ago
- Newsweek
Amazon Product Recall Update: Customers Told 'Immediately' Stop Using Items
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Amazon removed dozens of products from its online store this month after the items were recalled. More than 50 products were subject to recall notices in June, with the online marketplace revealing the details of each on its website. Shoppers were informed about a range of issues, including undeclared allergens in food products, faulty medical devices, fire-risk mattresses, and potentially hazardous children's furniture. None of the items were made by Amazon, but they were available via its website until the retailer became aware of the recalls. Amazon subsequently contacted its affected customers and publicized the recalls on its website, saying it "proactively investigates" the products it helps sell. Newsweek reached out to Amazon for comment. Why It Matters Recalls are issued when concerns arise that a product is defective or potentially harmful in some way, such as when testing reveals that foods are contaminated with potentially deadly bacteria or have been infected with a foreign object during the manufacturing process. Products across all industries are subject to recalls, from cars to cocktails. And big-name retailers that stock other brands' products, such as Target, often publicize the details of ongoing recalls on their own websites. Amazon has also published dozens of recall notices this month. Among the items being recalled were approximately 100,000 Crayan brand mattresses, which were sold exclusively by the Chinese brand on Amazon from July 2022 to June 2024 and have now been deemed a fire risk because they don't meet federal safety standards. An Amazon delivery driver carries boxes into a van outside of a distribution facility on February 2, 2021, in Hawthorne, California. An Amazon delivery driver carries boxes into a van outside of a distribution facility on February 2, 2021, in Hawthorne, California. PATRICK T. FALLON/AFP via Getty Images What To Know The items and companies currently listed on Amazon's "recalls and product safety alerts" page are: Sanven Technology Recalls Vevor Handrails Due to Injury Hazard The Coleman Company Recalls Converta Camping Cots and Converta Camping Suspension Stretchers Due to Laceration and Amputation Hazards; Imported by Newell Brands Peg Perego Recalls Tatamia 3-in-1 Recliners, Swings and High Chairs Due to Risk of Suffocation; Violations of Multiple Federal Standards (Recall Alert) iHerb Recalls Bottles and Blister Packs of California Gold Nutrition Iron Supplements Due to Risk of Serious Injury or Death from Child Poisoning; Violation of Federal Standard for Child Resistant Packaging Total Saddle Fit Recalls Western Saddle Cinches Due to Fall and Injury Hazards Bell Sports Recalls Bicycle Helmets Due to Risk of Head Injury; Violation of Federal Standard for Bicycle Helmets Boyro Baby Walkers Recalled Due to Risk of Serious Injury or Death to Children from Fall Hazard; Violations of the Federal Standard for Infant Walkers and Lead Content Ban; Sold Exclusively on FDA Class 2 Device Recall BD Insyte Autoguard Winged, Shielded IV Catheter FDA Class 2 Device Recall BD Insyte Autoguard BC Pro Winged Shielded IV Catheter FDA Class 2 Device Recall BD Insyte Autoguard, Shielded IV Catheter FDA Class 2 Device Recall BD Insyte Autoguard BC Pro Winged Shielded IV Catheter FDA Class 2 Device Recall BD Insyte Autoguard BC Winged, Shielded IV Catheter with Blood Control Technology FDA Class 2 Device Recall BD Insyte Autoguard Winged, Shielded IV Catheter Face Rock Creamery Voluntarily Recalls Vampire Slayer Garlic Cheddar Curds Because of Possible Health Risk Public Recall Title: FDA Class 2 Device Recall LUCAS 2, 3 and 3.1 MaxKare Electric Blankets Recalled Due to Burn and Fire Hazards Crayan Mattresses Recalled Due to Risk of Serious Injury or Death from Fire Hazard; Violation of Federal Standard for Mattress Flammability; Sold Exclusively on Amazon by Crayan Polaris Recalls Ranger XP Kinetic and Pro XD Kinetic Recreational Off-Highway Vehicles (ROVs) Due to Fire Hazard AstroAI Recalls Minifridges Due to Fire and Burn Hazards; Two Fires Resulted in More Than $360,000 in Reported Property Damages YaFiti White Dressers Recalled Due to Risk of Serious Injury or Death from Tip-Over and Entrapment Hazards; Violations of Federal Standard for Clothing Storage Units; Sold on Amazon Medtech Products Inc. Issues Nationwide Recall of Little Remedies® Honey Cough Syrup Due to Microbial Contamination TADAKAZU Baby Loungers Recalled Due to Risk of Serious Injury or Death from Suffocation, Fall and Entrapment Hazards; Violations of Federal Standard for Infant Sleep Products; Sold on Amazon FDA Class 1 Device Recall Dexcom One Glucose Receiver FDA Class 3 Device Recall AcoSound FDA Class 2 Device Recall Texium CSTD Vita-Warehouse Corp. Issues Allergy Alert on Undeclared Peanut Allergen in ALDI Welby®, Berkley Jensen®, and VitaGlobe™ Vitamin B12 Gummy Products FDA Class 2 Device Recall Texium CSTD FDA Class 2 Device Recall Texium CSTD FDA Class 2 Device Recall Hillrom WELCH ALLYN Bugaboo North America Recalls Giraffe High Chairs Due to Risk of Serious Injury or Death from Fall Hazard Mammut Sports Group Recalls Skywalker Pro Via Ferrata Sets Due to Risk of Serious Injury or Death from Fall Hazard More than One Million Anker Power Banks Recalled Due to Fire and Burn Hazards; Manufactured by Anker Innovations TTI Outdoor Power Equipment Recalls RYOBI 40-Volt 24-Inch Cordless Hedge Trimmers Due to Laceration Hazard Agro Superior Group Recalls Oliver & Smith Mattresses Due to Risk of Serious Injury or Death from Fire Hazard; Violation of Federal Standard for Mattress Flammability Medtronic Announces Voluntary Recall of Select Newport™ HT70 and Newport™ HT70 Plus Ventilators and Certain Related Newport™ Service Parts Bornstein Seafoods Inc Recalls Cooked & Peeled Ready-To-Eat Coldwater Shrimp Meat Because of Possible Health Risk Public Recall Title: FDA Class 1 Device Recall Newport HT70 Ventilator Church & Dwight Co., Inc. Issues Voluntary Nationwide Recall of Zicam® Cold Remedy Nasal Swabs, Zicam® Nasal AllClear Swabs, and Orajel™ Baby Teething Swabs Due to Microbial Contamination August Egg Company Recalls Shell Eggs Because of Possible Health Risk Firehook of Virginia Issues Allergy Alert on Undeclared Sesame in Classic Sea Salt Crackers Yamaha Expands Recall of Golf Car Vehicles Due to Crash Hazard; Additional Models and New Repair to Replace Accelerator Pedal Spring Assembly Johnson Health Tech Trading Recalls BowFlex Adjustable Dumbbells Due to Impact Hazard, Including 3.7 Million Sold by Nautilus Inc. ZRWD Infant Swings Recalled Due to Risk of Serious Injury or Death from Suffocation Hazard; Multiple Federal Safety Violations; Sold Exclusively on by ZRWD Portable Hook-On Chairs Recalled Due to Risk of Serious Injury or Death from Fall Hazard; Violation of the Federal Standard for Portable Hook-On Chairs; Sold Exclusively on by Ravmix ZHORANGE Portable Bassinets Recalled Due to Risk of Serious Injury or Death from Fall Hazard; Violation of Federal Standard for Infant Sleep Products; Sold on by DFD Trading Funlio Convertible High Chairs Recalled Due to Risk of Serious Injury or Death from Fall and Entrapment Hazards; Violation of Federal Standards for High Chairs; Sold by Ecogoods Rinnai America Recalls Boilers Due to Carbon Monoxide (CO) Poisoning Hazard Midea Recalls About 1.7 Million U and U+ Window Air Conditioners Due to Risk of Mold Exposure Class 2 Device Recall Lazervida 10W Diode Laser Cutter and Engraver (Model LVD1) Sulu Organics LLC Recalls Pork Lard & Beef Tallow Products Produced Without Benefit of Inspection Springville Meat & Cold Storage Co., Inc., Recalls Beef Jerky/ Beef Snack Stick Products and Voluntarily Inspected Elk, Venison and Buffalo Jerky Products Due to Misbranding and Undeclared Allergens What People Are Saying Amazon, on its website: "Our Product Safety Team proactively investigates and addresses reported safety complaints and incidents to ensure customer protection from potential product-related safety risks. We closely monitor public recall alert websites and receive notifications from vendors and sellers. Upon discovering a product recall, we immediately halt affected product offerings, and promptly inform both customers and sellers involved about the recall." What Happens Next Consumers have various rights when an item they've purchased is hit by a recall, with most manufacturers or sellers typically offering full refunds. Anyone concerned that they bought a product via Amazon that is now subject to a recall should visit its "recalls and product safety alerts" page for further information.
New York Post
20 minutes ago
- New York Post
Hong Kong's security net extends beyond arrests as small businesses pressured
HONG KONG — It's been years since mass arrests all but silenced pro-democracy activism in Hong Kong. But a crackdown on dissent in the semi-autonomous Chinese city is still expanding, hitting restaurants, bookstores and other small businesses. Shops and eateries owned by people once associated with the largely subdued pro-democracy movement are feeling a tightening grip through increased official inspections, anonymous complaint letters and other regulatory checks. Those critical of the city's political changes say it's a less visible side of a push to silence dissent that began five years ago when Beijing imposed a national security law to crush challenges to its rule, under which opposition politicians were jailed and pro-democracy newspaper Apple Daily was shuttered. 10 Leticia Wong, former pro-democracy district councillor, poses for photographs at her bookstore in Hong Kong. AP China said the law was necessary for the city's stability following anti-government protests in 2019. In 2024, the city passed its own national security law, which has been used to jail people for actions like writing pro-independence messages on the back of bus seats and wearing a T-shirt carrying a protest slogan that authorities deemed could imply the separation of Hong Kong from China, a red line for Beijing. In recent weeks, food authorities sent letters to restaurants warning that their business licenses could be revoked if the government deems them to be endangering national security or public interest. 10 Shuttered stores in Tsim Sha Tsui district in Hong Kong AP 10 In 2024, the city passed its own national security law, which has been used to jail people for actions like writing pro-independence messages on the back of bus seats and wearing a T-shirt carrying a protest slogan that authorities deemed could imply the separation of Hong Kong from China, a red line for Beijing. AP Frequent inspections Leticia Wong, a former pro-democracy district councilor who now runs a bookstore, says her shop is frequently visited by food and hygiene inspectors, the fire department or other authorities over complaints about issues like hosting events without a license. It happens most often around June 4, the anniversary of the 1989 Tiananmen Square massacre. Her records show government authorities took measures against her shop some 92 times between July 2022 and June 2025, including inspecting her shop, conspicuously patrolling outside, or sending letters warning her of violations. She has been studying regulations to protect herself from accidentally breaking them. 'Some areas look trivial — and they really are — but they still have the power to make you face consequences,' she said. 10 Chan Kim Kam, former pro-democracy district councillor. AP 10 Activists from Reporters Without Borders (RSF) hold copies of a special edition of the former Hong Kong's newspaper Apple Daily, during a protest marking the fourth anniversary of its closure MOHAMMED BADRA/EPA-EFE/Shutterstock In an emailed reply to The Associated Press, the fire department said it conducted checks at Wong's business following multiple complaints this year. Wong's bookstore passed most of them but still faces enforcement action for failing to provide valid certificates for two fire extinguishers and its emergency lighting system, it said. Other small business owners described similar experiences. A bakery that put up pro-democracy decorations during the 2019 protests saw food authorities' inspections jump from quarterly to monthly over the past one to two years, mostly over labeling complaints. Its owner, who asked to remain anonymous fearing government retribution, said the frequent inspections made running the business a struggle. A restaurant owner who received the notice of the newly added terms on possible license revocation over national security violations said he doesn't know what could be considered a violation and fears one wrong move could cost his staff their jobs. He spoke on the condition of anonymity, fearing potential impact on his business partners and employees. 10 A bakery that put up pro-democracy decorations during the 2019 protests saw food authorities' inspections jump from quarterly to monthly over the past one to two years, mostly over labeling complaints. AP 10 Books about Hong Kong politics are displayed on bookshelf at Leticia Wong's bookstore. AP Food authorities said inspections follow the law, information and public complaints. They maintained that the new national security conditions for food business licenses were clearly defined and would not affect law-abiding operators. Anonymous denunciations Others say they have lost opportunities after anonymous letters were sent to employers or business partners. Wong said an anonymous letter sent to an organization that had planned an event at her shop prompted them to cancel the booking. Separately, she lost a freelance job after a funder demanded that a social enterprise not hire her without a specific reason. Her landlord also received an anonymous letter warning them not to rent the space to her. 'I feel that this society is working very hard — that is, within the system, under the official system, working very hard to reject me, or to make my life difficult,' Wong said. 10 Wong said an anonymous letter sent to an organization that had planned an event at her shop prompted them to cancel the booking. AP Chan Kim-kam, another former district councilor, says she lost both a part-time job and a role in a play after the people she worked for were pressured. A school where she taught sociology part-time asked her to leave after it received a letter claiming that she made a student uncomfortable. The letter, which was written in the simplified Chinese characters used in mainland China but less prominently in Hong Kong, included links to news reports about her arrest under the homegrown national security law last year, though she was never charged. Meanwhile, the city's Leisure and Cultural Services Department told her drama group to replace her or lose their venue, she said. 'I think it's really such a pity. When the culture of reporting people has become so intense, it destroys the trust between people,' she said. Cultural authorities, declining to discuss specific bookings, said all their venue bookings were managed under established procedures. 10 Cultural authorities, declining to discuss specific bookings, said all their venue bookings were managed under established procedures. AP Rule of law in question Hong Kong leader John Lee has said the security law upholds the rule of law principle and only an extremely small portion of people were targeted. He noted 332 people have been arrested for offenses related to national security, about 66 each year on average, or 0.2% of the police's annual arrest figures. Still, he warned of persisting soft resistance, saying 'the streets are full of petty people.' Local broadcaster i-Cable News said national security guidelines would be issued to government workers. Secretary for Security Chris Tang told the broadcaster that even a cleaner should report words endangering national security, if any are found during their job. But Eric Lai, a research fellow at Georgetown Center for Asian Law, said Hong Kong is using regulatory powers to monitor and regulate dissent without checks and balances. Local courts were unable to check the powers granted to the government under the security laws, he said. 10 But Eric Lai, a research fellow at Georgetown Center for Asian Law, said Hong Kong is using regulatory powers to monitor and regulate dissent without checks and balances. AP It fits a common pattern among undemocratic governments like mainland China, he said. In many cases across the border, law enforcement officers frequently harass and surveil dissenters without formal charges. 'It tells the world that the so-called rule of law in Hong Kong is only a facade of rule by men,' he said. Outside a court on Jun. 12, members of the pro-democracy party League of Social Democrats protested against their convictions over street booth activities with a banner that says 'rule of law in name, silencing voices in reality.' Every morning, the NY POSTcast offers a deep dive into the headlines with the Post's signature mix of politics, business, pop culture, true crime and everything in between. Subscribe here! They were fined for collecting money without a permit and displaying posters without approval. The judge said freedom of expression was not absolute and restrictions could be imposed to maintain public order. On Sunday, the party announced it had dissolved, citing immense political pressure and consideration of consequences for its members, months after the city's biggest pro-democracy party announced to move toward disbandment. Its chairperson Chan Po-ying wiped away tears at the news conference. 'In the past, the government said it focused on a small portion of people. Now, it includes various kinds of people in Hong Kong, ordinary residents,' she said.
