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Time of India
16 minutes ago
- Time of India
Blackstone drops out TikTok US deal consortium: Why the firm backed out? Key reasons explained
Blackstone has pulled out of a consortium aiming to invest in TikTok's US operations, adding to growing uncertainty around the deal, sources told Reuters on Friday. The investment group, led by Susquehanna International Group and General Atlantic, both existing investors in TikTok's parent company ByteDance, had been seen as the front-runner to acquire majority control of TikTok's US business. The private equity firm's exit comes amid growing uncertainty and multiple delays in the TikTok transaction, which has become central to the US-China trade talks. The deal, originally encouraged under President Donald Trump's administration, aimed to give US investors an 80% stake in TikTok, while ByteDance would keep a minority share. However, repeated deadline extensions for ByteDance to divest its US operations have fueled uncertainty among potential investors and clouded the future of TikTok's presence in the country. Earlier last month, Trump signed a third executive order extending the deadline for ByteDance to sell TikTok, pushing the cutoff to September 17. Earlier, in April 2024, Congress passed a law requiring TikTok to be sold or shut down by January 19, 2025. Some legislators have criticised these extensions, suggesting the Trump administration is disregarding legal requirements and national security issues regarding Chinese control of TikTok. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Use an AI Writing Tool That Actually Understands Your Voice Grammarly Install Now Undo ByteDance is considering various solutions, including selling or reorganising its US operations. The company, which generated $43 billion in revenue during the first quarter, has now exceeded Meta's quarterly earnings, Reuters reported quoting sources. The US consortium backed by the administration in the TikTok deal includes private equity firm KKR and new investors like Andreessen Horowitz, with Oracle also expected to take a stake. However, it remains unclear whether all original consortium members are still part of the bid. Earlier this year, the group was working on a plan to spin off TikTok's US operations into a separate American company. But negotiations stalled after China signaled it would block the deal, shortly after Trump announced new tariffs on Chinese imports. If a deal goes through, TikTok's US operations are expected to be run by a new joint venture between an American investor group and ByteDance, which would retain a minority stake. Blackstone's decision to withdraw underscores the growing uncertainty and complications surrounding the deal. The future of TikTok has become entangled in broader US-China trade tensions, with Trump indicating he would discuss the issue directly with Chinese President Xi Jinping. TikTok is already developing a separate version of the app for the US market. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Fibre2Fashion
34 minutes ago
- Fibre2Fashion
Indonesia ships $1.6 bn apparel to US, holds 5th spot
Insights President Donald Trump has announced a trade deal with Indonesia, lowering US import duties on Indonesian apparel to * * per cent. per cent. Despite a * * . * * per cent rise in exports to the US in Januaryâ€'April * * * * , Indonesia remains the fifth-largest apparel supplier, behind India. . per cent rise in exports to the US in Januaryâ€'April , Indonesia remains the fifth-largest apparel supplier, behind India. Its market share rose to * . * * per cent but has not returned to the fourth position it held before * * * * . To read the full story, become a PRIME member today. All Corporate Members and TexPro Subscribers are eligible to access F2F PRIME CONTENT using the same login credentials. Latest News Insights Latest News Insights Exclusive Industry Articles & Features Exclusive Industry Articles & Features Detailed Article Analytics & Insights Digital Edition of Fibre2Fashion Magazine Digital Edition of Fibre2Fashion Magazine Get notified in your mailbox
News18
an hour ago
- News18
'That's True': Old Video Resurfaces Of Trump Being Called 'Sexual Predator' In Front Of Ivanka
Last Updated: An old video of Trump and Ivanka at The Howard Stern Show in 2006 resurfaced amid the Epstein row, where Trump seemed to say "That's true" after being called a sexual predator. As US President Donald Trump faces pressure due to the Epstein Files controversy, an old video has resurfaced showing the president appearing to say 'that's true" after being called a sexual predator in front of his daughter Ivanka. In an appearance on The Howard Stern Show in 2006, Trump appeared with his daughter Ivanka and Donald Trump Jr to promote the fifth-season premiere of their reality TV series, 'The Apprentice.' Stern at one point asked Ivanka about her dating life and her earlier relationship with film producer James 'Bingo' Gubelmann. Later, Stern asked Trump, 'Well, maybe we need to bring this up. Donald, seriously … you, you, you know about sexual predators and things like that, I mean…?" Trump responded in the affirmative when the show's co-host Robin Quivers said, 'You are one!" Ivanka and Trump himself could be seen laughing as the now-president appeared to say, 'That's true!" Social media users were appalled by Trump's 'admission", although some users questioned the authenticity of the video. 'Sick! There is no other word for this!" a user said. 'Ladies and gentlemen the president of the United States," another person wrote. Several netizens also criticised Ivanka for laughing at the remarks. 'Ivanka thinks this is funny," a user wrote. 'A daughter laughing after someone calls her father a sexual predator?! These people are very damaged," wrote a second netizen. This came as Trump is facing serious backlash from his own supporters since his return to power over allegations that his administration is covering up lurid details of disgraced financier Epstein's crimes to protect rich and powerful figures. The Trump-supporting far-right has long latched on to the scandal, claiming the existence of a still-secret list of Epstein's powerful clients and that the late financier was in fact murdered in his cell as part of a cover-up. After Trump campaigned on releasing the Epstein files, his supporters expected him to answer their questions on his return to the office, but his Justice Department and the FBI have said there is no evidence that Epstein kept a client list or was blackmailing powerful figures. Moreover, Trump himself has attacked his supporters and called the Epstein files a 'hoax" perpetrated by Democrats. He is one of the many currently famous people who were formerly friends with Epstein, but denies having gone to his notorious US Virgin Islands home. (with agency inputs) First Published: July 20, 2025, 07:35 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
