
Trump eyes TikTok shakeup: Oracle-led deal nears as M2 app prepares for US launch, report says
While TikTok hasn't officially commented on the new app or the sale talks, reports suggest that a group of US-based investors, led by Oracle, is close to reaching a deal to acquire TikTok's US operations. Under this plan, ByteDance would still hold a minority stake, while the majority control would shift to non-Chinese entities, satisfying the conditions laid out under the new Protecting Americans from Foreign Adversary Controlled Applications Act.It's not the first time such a deal has been proposed. An earlier attempt to spin off TikTok's American business was shelved after China raised objections, especially following the Trump administration's decision to impose steep tariffs on Chinese goods. With geopolitical tensions still in play, any new agreement will require approval from the Chinese government — something that could delay or derail the process.In the meantime, ByteDance seems to be preparing a backup strategy. The new M2 app would offer the same experience but under a different operational structure, making it compliant with new legal requirements. According to reports, when M2 launches, the original TikTok app would eventually be removed from US app stores. The switch is being planned in a way that ensures users are not immediately cut off, but they will eventually have to download and move to the new version.advertisementAdding to this development, the Wall Street Journal reported that Oracle has signed a unique agreement with the US federal government, offering significant discounts on its cloud software. This move could give Oracle added leverage in the TikTok deal, especially as cloud infrastructure will likely be central to the app's operations post-sale.Despite the looming deadlines and political back-and-forth, TikTok has only been briefly unavailable in the US — a one-day shutdown earlier this year. But with time running out and pressure mounting, ByteDance appears to be moving swiftly to stay in the market through restructuring and technical adjustments.- Ends
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Mint
16 minutes ago
- Mint
Rubio Heads to Malaysia for Summit Under Shadow of Tariffs
(Bloomberg) -- Secretary of State Marco Rubio is set to make his first trip to Asia as the top US diplomat this week, heading to a regional summit in Malaysia a day after President Donald Trump threatened a new 25% tariff on the country and several others. Rubio flies to Kuala Lumpur, Malaysia, on Tuesday for a gathering of the Association of Southeast Asian Nations. While he'd prefer to keep the focus on security issues and competition with China, the trip will take place under the shadow of Trump's latest tariff gambit. On Monday, the president unveiled the first of several promised letters that threaten higher tariffs rates on key trading partners, including levies of 25% on goods from Japan and South Korea — as well as Malaysia and Kazakhstan — beginning Aug. 1. Fellow Asean members Laos and Myanmar will see tariffs of 40% if Trump delivers on his threat. Trump had set July 9 for the expiration of a 90-day pause on higher trade levies. He initially rolled out reciprocal tariffs in early April, but the White House reversed course, froze those rates at 10% for three months, and opened negotiations amid tumbling markets and fears of a US recession. A senior State Department official told reporters Monday that the July 9 deadline will pass while Rubio is traveling to Malaysia, and said the department doesn't lead negotiations for bilateral deals. Still, the secretary will echo the White House's message on tariffs, the official said, defending the need to rebalance US trade relationships. Former trade negotiator Barbara Weisel said partners would focus on the meetings' formal agenda and separate their broader relationship from trade tensions. 'But privately, countries that are hit with tariffs over 10% almost certainly will raise their frustration and anger at the US,' said Weisel, now a scholar with the Carnegie Endowment for International Peace. Rubio 'is focused on reaffirming the United States' commitment to advancing a free, open, and secure Indo-Pacific region,' the State Department said in a statement before the latest tariffs were announced. Rubio will also likely face questions about Trump's threat Sunday to impose an additional 10% tariff on any country that aligns itself with what he called the 'anti-American policies' of the BRICS grouping of Brazil, Russia, India, China and South Africa. Indonesia became a full BRICS member in January, while Malaysia, Vietnam and Thailand joined as partner nations. China's Foreign Minister Wang Yi is expected at the Asean summit, as is Russian Foreign Minister Sergei Lavrov is confirmed. President Vladimir Putin's government, entrenched in the war in Ukraine, is deepening ties in Southeast Asia through energy and defense deals. For weeks, the administration has indicated its tariffs would revert to their higher April 2 levels for countries that failed to strike accords aimed at reducing US trade imbalances. Other nations will seek to follow the example of Asean member Vietnam, which last week reached a deal for a 20% tariff on its exports — compared with a 46% duty originally threatened — though goods deemed to be transshipped face a 40% rate — a provision largely aimed at China. US Treasury Secretary Scott Bessent has suggested that some countries lacking an agreement by the July 9 deadline would be able to negotiate until the tariffs are scheduled to kick in on Aug. 1. While the job of negotiating trade deals falls mainly to Bessent and others, Rubio is one of the first Trump cabinet members to travel to Asia. (Updates with additional details of visit, Trump's Brics threat.) More stories like this are available on


Business Standard
29 minutes ago
- Business Standard
VIBE 2025 Set to Transform Industry-Specific AI Adoption in 48 Hours
NewsVoir Bengaluru (Karnataka) [India], July 7: Upekkha, the India-US accelerator that has backed over 100 SaaS and AI startups, has announced VIBE 2025 (Vertical Intelligence & BEyond), the world's first summit dedicated exclusively to vertical AI. Scheduled for 10-11 July 2025 at The Leela Palace, Bengaluru, and co-hosted with SaaSBoomi, this two-day flagship event will showcase how AI can move from concept to real-world deployment within just 48 hours. "Walk in with a problem statement, walk out with a working AI pilot in 48 hours." This bold promise underpins VIBE 2025's mission -- to convert AI ambition into actionable outcomes. "AI hype is cheap. Outcomes are priceless. At VIBE, a banker, a healthcare firm, or a manufacturer can frame a real problem on Day 1 and see a functional AI first pilot in forty eight hours," said Prasanna Krishnamoorthy, Convener, VIBE & Partner, Upekkha. VIBE 2025 features VIBE Pilots, the world's first AI pilot festival. This 24-hour innovation sprint invites enterprise leaders to present live challenges from their strategic priorities. Pre-selected AI startups will build working prototypes to solve these challenges, with CXOs providing immediate feedback. From fraud detection in finance to inventory management in retail, these pilots are designed to lead directly to partnerships and deployments. "AI destroyed the junior developer market and built one of the fastest categories in history, from nothing to $1.6B in ARR in AI coding in under a year. It is coming for verticals next. We are bringing 200 startups and 100 CxOs to VIBE Summit to shape how to navigate this," said Thiyagarajan Maruthavanan, Convener, VIBE & Partner, Upekkha. VIBE 2025 will feature headline voices such as Shekhar Kirani (Accel) and Pratik Pal (Tata Group) on India's $50 billion AI opportunity, and Shankar Maruwada (EkStep, Aadhaar) on the country as the AI use-case capital. Leaders from Renault Nissan, ABB, Airbus, and Accenture will cover AI in manufacturing. Banking, consumer-tech, healthcare, and insurance insights will come from Muthoot, Ujjivan Bank, Citi, Tata Digital, Narayana Health, Dozee, HDFC Securities, HDFC Life, and MediAssist. The summit opens with a keynote and masterclass by Simon Wardley on navigating AI's platform shift, and closes Day 1 with Prof. Saras Sarasvathy urging enterprises and entrepreneurs to co-create in uncertainty. VIBE 2025 promises over 20 sessions featuring 50 speakers, with participation from 200 AI-native startups and more than 100 CXOs and investors. The event will include VIBE Pilots, sector-specific sessions across banking, insurance, manufacturing, health, energy, space, and consumer-tech, as well as the VIBE Awards, which will spotlight AI deployments already generating real revenue and impact. Closed-door CXO dinners and boardroom workshops will enable deep dives into data governance, regulation, and AI strategy. "Satya Nadella recently called India 'the AI use-case capital of the world.' VIBE 2025 turns that headline into a market by matching domain pain-points with AI talent and capital in real time. We don't need another 10-year transformation roadmap. We need an AI pilot that proves itself in 10 hours. VIBE is where we're making it happen," said Avinash Raghava, CEO, SaaSBoomi. Unlike traditional AI conferences that focus on horizontal Gen-AI trends with slide decks and vendor booths, VIBE 2025 will deliver live 24-hour build sprints with pre-matched startups and CXOs, producing ready-to-deploy pilots and curated enterprise-startup partnerships. The summit focuses on delivering vertical AI solutions tailored for specific industries. For agenda, tickets, and further information, visit The detailed schedule is available at Upekkha is an AI Accelerator for global Indian founders. The company partners with founders building next-generation AI software companies. Established in 2017, Upekkha has become a powerful force in reshaping the Indian startup ecosystem. SaaSBoomi is a community-led platform that brings together SaaS (Software-as-a-Service) founders, builders, and enthusiasts to share knowledge, collaborate, and accelerate the growth of SaaS businesses, primarily in India. Founded in 2015 as an informal network of SaaS founders eager to learn from one another, SaaSBoomi has grown into a vibrant community representing over 1,500 companies.


Time of India
32 minutes ago
- Time of India
Recover excess payment for imported ITI panels: Govt
Mumbai: The state govt issued an order on Monday to recover Rs 2.13 crore paid for Made in China interactive panels, a year after TOI reported on how norms favoring indigenous products were violated to procure devices for smart classrooms in Industrial Training Institutes (ITIs). An inquiry has also been initiated against 13 officers in the procurement section of the Department of Vocational Education and Training (DVET). The vendor, who acknowledged to the inquiry committee that it supplied Made in China panels, is now replacing them at no extra cost. The govt's order says Rs 2.13 crore was paid over and above the right price. That excess amount will have to be recovered from the vendor in 15 days. In two of the four purchase orders, price per panel ballooned by 151% with a warranty period of 5 years. In the remaining two, the markup soared to a staggering 227%, with a warranty period of merely one year. You Can Also Check: Mumbai AQI | Weather in Mumbai | Bank Holidays in Mumbai | Public Holidays in Mumbai TOI had reported on Dec 18, 2023 about the procurement of interactive panels at an inflated cost as part of a plan to install smart classrooms in ITIs. The majority of the Chinese-made panels were procured through funds received under Strive, a skills strengthening project of the World Bank and Govt of India. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You to Read In 2025 Blinkist: Warren Buffett's Reading List Undo The tender was floated on the govt e-marketplace portal after disabling the "Make in India" purchase preference, contrary to what procurement agencies are encouraged to choose. The manufacturer was subsequently blacklisted on the portal and no state govt could purchase any of these panels. The govt inquiry, while acknowledging the allegations, found that all the bidders submitted their bids from the same IP address, thus inferring that there was no real competition: "it is clear that all the tenderers who are suppliers of BenQ submitted their tenders from the same IP address in both the tenders." Other observations include that "the period of warranty published in the tender was reduced in the supply and re-warranty orders and financial benefits were given to the suppliers". Moreover, "the tenderers were given illegal exemption in Earnest Money Deposit (EMD) and they were given financial benefit". "The country of origin was deliberately ignored. Therefore, it was possible for the supplier to provide the Chinese-made interactive panels." Additionally, the report said, "BenQ manufacturer was biased towards other manufacturers by conducting a tender process which was favourable and materials were procured at exorbitant prices reducing competition." Also, "an assembled OPS was purchased from another manufacturer, Digital Audio Video Solutions, Nagpur, pretending to be an OPS manufactured by BenQ. OPS or Open Pluggable Specification is a slot in interactive panels that allows for quick access to various applications and features. " The connivance between DVET and the manufacturers was clear as the inquiry report said, "The specifications prepared by the technical specifications committee were exchanged at the directorate level in both tenders published and thereby assisted BenQ suppliers in qualifying." The report concluded: "As per the detailed investigation as above, it is pointed out that there was a serious irregularity in the procurement process carried out through both the tender processes. "