• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Stock

US court rejects TikTok request to temporarily halt pending US ban

by December 14, 2024
written by December 14, 2024

By David Shepardson and Kanishka Singh

WASHINGTON (Reuters) -A U.S. appeals court on Friday rejected an emergency bid by TikTok to temporarily block a law that would require its Chinese parent company ByteDance to divest of the short-video app by Jan. 19 or face a ban on the app.

TikTok and ByteDance on Monday filed the emergency motion with the U.S. Court of Appeals for the District of Columbia, asking for more time to make their case to the U.S. Supreme Court. Friday’s ruling means that TikTok now must quickly move to the Supreme Court in an attempt to halt the pending ban.

The companies had warned that without court action, the law will “shut down TikTok — one of the nation’s most popular speech platforms — for its more than 170 million domestic monthly users.”

“The petitioners have not identified any case in which a court, after rejecting a constitutional challenge to an Act of Congress, has enjoined the Act from going into effect while review is sought in the Supreme Court,” Friday’s court order said.

TikTok did not immediately respond to a request for comment.

Under the law, TikTok will be banned unless ByteDance divests it by Jan. 19. The law also gives the U.S. government sweeping powers to ban other foreign-owned apps that could raise concerns about collection of Americans’ data.

The U.S. Justice Department argues “continued Chinese control of the TikTok application poses a continuing threat to national security.”

TikTok says the Justice Department has misstated the social media app’s ties to China, arguing its content recommendation engine and user data are stored in the U.S. on cloud servers operated by Oracle (NYSE:ORCL) while content moderation decisions that affect U.S. users are made in the U.S.

The decision – unless the Supreme Court reverses it – puts TikTok’s fate first in the hands of Democratic President Joe Biden on whether to grant a 90-day extension of the Jan. 19 deadline to force a sale and then of Republican President-elect Donald Trump, who takes office on Jan. 20.

Trump, who unsuccessfully tried to ban TikTok during his first term in 2020, said before the November presidential election he would not allow the ban on TikTok.

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
MicroStrategy secures Nasdaq-100 inclusion after bitcoin-fueled stock surge
next post
China’s GDP growth expected around 5% this year, senior official says

You may also like

BASF results down on impairments, restructuring

January 27, 2025

European chipmakers slump as traders gauge DeepSeek AI...

January 27, 2025

Nasdaq futures tumble as China’s AI push rattles...

January 27, 2025

China Vanke’s CEO, chairman resign amid growing liquidity...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

Italy’s MPS shares fall ahead of Mediobanca board...

January 27, 2025

British Land stock drops following stake sale

January 27, 2025

UMG shares rally after new multi-year pact with...

January 27, 2025

BASF shares indicated 3% lower as impairments drag...

January 27, 2025

Ryanair cuts 2026 traffic forecast amid ongoing Boeing...

January 27, 2025
Fill Out & Get More Relevant News








    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks

      June 26, 2025
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

      June 26, 2025
    • Bumble shares jump 26% as dating company plans to axe 30% of workforce

      June 26, 2025
    • Small-business AI use is lagging, but one firm is channeling Sherlock Holmes and knocking out ‘grunt work’

      June 25, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (534)
    • Stock (6,426)

    Latest News

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

    Popular News

    • Canada stocks higher at close of trade; S&P/TSX Composite up 0.53%
    • International Paper gains EU nod for $7.2 billion DS Smith buy

    About The Significant deals

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy