New World Gets 100% Lender Approval for $11 Billion Refinancing
The next procedural step to formally conclude the transaction is for lenders to sign the loan documents, according to the people. They expect that to happen shortly. Documentation showed that if New World didn't achieve a 100% approval by June 30, the deal could fall through as any collateral pledged would be released and bank commitments canceled.
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Forbes
2 minutes ago
- Forbes
Why China Is Dunking On The Trump Administration's New TikTok Account
As TikTok fast approaches another potential ban in the U.S., the Chinese government is refusing to let its algorithm be sold. Future Publishing via Getty Images As the Trump administration approaches the end of its third legally dubious extension of the TikTok sale-or-ban law, the Chinese Communist Party is making one thing very clear: the app's For You algorithm, developed by the app's Chinese parent company, ByteDance, will not be sold anytime soon. That's because last time ByteDance tried to sell the algorithm — under threat of a TikTok ban during President Trump's first term — the Chinese government changed its export rules at the last minute to prevent the company from making the sale. Today, the CCP reiterated its stance on a TikTok sale in an editorial in the state-owned media outlet China Daily. The editorial began by applauding the Trump White House for creating an official TikTok Account — and gloating at the inconsistency between the White House's actions and Congress's ban of TikTok for national security reasons last year. 'TikTok's appeal and effectiveness as a communication channel has not been lost on even the White House,' it opened. 'That the White House launched its own account on the app less than one month before the third extended deadline expires only serves to expose the hypocrisy of the U.S. side's alleged 'security' charges against TikTok.' Then, the editorial went on to remind readers that ByteDance, as a Chinese company, 'must comply with Chinese laws and regulations,' and that Chinese law 'prohibits the export of core technologies such as short video algorithms, drawing a red line for the TikTok transaction.' The editorial expressed hope that Trump would indefinitely extend his non-enforcement of the binding U.S. law that requires TikTok to be sold to a non-Chinese company or banned in the U.S. The Chinese government's stance does not necessarily mean that Trump and ByteDance will abandon efforts to make some kind of a deal. But it does mean that sale of the For You algorithm — which is core to TikTok's function and appeal — won't be on the table. TikTok has been planning for this eventuality. In May, Reuters reported that the company was working on creating a U.S.-only clone of the For You algorithm, which could be used in a potential separation of U.S. TikTok from the existing app. (It is unclear whether the Chinese government would take issue with TikTok launching a U.S. only algorithm, if that algorithm is based in whole or in part on the Chinese asset whose sale the CCP has barred.) In July, The Information reported that the company was working on a separate U.S. TikTok app, to be launched in early September, before Trump's impending September 17 deadline. If TikTok does proceed with launching a U.S.-only app, it will have to be powered by an algorithm of some kind. The Chinese government is suggesting that algorithm can't be ByteDance's trademark For You Page. The status of a clone algorithm is still up in the air, both technologically and legally. So TikTok may be — at least in the short-to-medium term — somewhat stuck. In the meantime, Trump may do what he has done before and grant yet another extension, allowing the company to continue operating in the U.S. in violation of binding U.S. law. But Trump's own Commerce Secretary, Howard Lutnick, has been singing a different tune, saying that TikTok will go dark in September unless the Chinese government approves a sale. Trump and the Chinese government might also agree to a non-sale sale: an agreement that allows functional Chinese control over TikTok to continue, but gives Trump the cosmetic win of closing a deal of some kind. Such a deal would likely violate the law that Congress passed last year — but the burden would fall on Congress and the courts to require compliance. As the third extension moves toward expiration, one of two things seems certain: either Trump will continue to flout the law and allow TikTok to remain under Chinese control, or TikTok will change — somewhat dramatically — because the tech that has defined it will be out of reach. More From Forbes Forbes With Trump's TikTok Ban On Hold, ByteDance Is Quietly Launching AI Apps By Emily Baker-White Forbes TikTokers Are Claiming Credit For Trump's Parade Attendance By Emily Baker-White Forbes Trump's Deadline For A TikTok Deal Is Almost Up. Here Are 5 Things To Watch By Emily Baker-White
Yahoo
29 minutes ago
- Yahoo
Sony hikes PlayStation 5 prices in US as tariff uncertainty weighs
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Associated Press
32 minutes ago
- Associated Press
CoinEx Reinforces Transparency with Updated Proof of Reserves
HONG KONG, Aug. 20, 2025 (GLOBE NEWSWIRE) -- CoinEx, a leading cryptocurrency exchange, has reaffirmed its commitment to transparency, security, and user trust with an updated proof of reserve as of August 13, 2025, at 07:00 (UTC). Maintaining a 1:1 reserve ratio, CoinEx ensures that for every $1 in user deposits, it holds an equivalent amount in reserves, safeguarding users' funds and reinforcing its financial stability. CoinEx maintains a reserve rate: (As of 15/08/2025) This further solidifies CoinEx's position as a secure and reliable trading platform. Founded in 2017, CoinEx has built a reputation for prioritizing security and transparency. The platform maintains a 100% proof-of-reserve ratio and operates the CoinEx Shield Fund, allocating 10% of trading fees to provide additional user protection during market volatility or unforeseen events. For further details on the updated asset reserve ratio, please visit here. Contact: CoinEx [email protected] Disclaimer: This content is provided by statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page. Legal Disclaimer: This media platform provides the content of this article on an 'as-is' basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above. Photos accompanying this announcement are available at
