Technology
Tue Aug 04, 2020 1:43
Trump Says Microsoft Should Pay ‘Key Money’ to US Treasury for Facilitating TikTok Deal
TEHRAN (FNA)- President Donald Trump said Monday that it could be easier if Microsoft were to buy Chinese-owned TikTok in its entirety, rather than a small part of the social video app, because the name would be split across two companies, and suggested the company should pay the US Treasury as part of the deal.

“I think buying 30% is complicated, and I suggested that he can go ahead, he can try,” Trump told reporters in the Cabinet Room at the White House on Monday, according to CNBC.

He was referring to his conversation over the weekend with Microsoft CEO Satya Nadella. The comments come a day after Microsoft confirmed in a statement that it has looked at buying TikTok in the US, Canada, Australia and New Zealand.

A larger deal could go beyond resolving the US government’s concern over Chinese control of the app, where hundreds of millions of people share short videos that often feature music.

A transaction of the type the president envisions could also prove more expensive than the one Microsoft described on Sunday. Trump noted Monday that part of the amount paid to buy TikTok would have to come to the US Treasury Department because it would be making the deal possible.

“It’s a little bit like the landlord/tenant; without a lease the tenant has nothing, so they pay what’s called ‘key money’, or they pay something,” Trump continued, adding, “But the United States should be reimbursed or should be paid a substantial amount of money, because without the United States they don’t have anything, at least having to do with the 30%.”

Microsoft’s largest acquisition to date is the 2016 acquisition of business social network LinkedIn, at $27 billion. Investors of the privately owned ByteDance, the Chinese company that owns TikTok, valued TikTok at $50 billion, Reuters reported last week.

The app will be banned in the US if it’s not sold by September 15, Trump stated on Monday.

On Sunday, Microsoft announced that it wants to conclude talks with ByteDance by that date.

“We believe from a management and board perspective this is a unique deal of a decade opportunity with a price tag that could easily be consummated,” Wedbush analysts led by Dan Ives, who has the equivalent of a buy rating on Microsoft stock, wrote in a note distributed to clients on Monday. 

Microsoft had $136.53 billion cash, equivalents and short-term investments as of June 30, according to the company’s most recent quarterly earnings report.

Microsoft shares rose 5.6% during Monday’s trading session, which was mostly positive for tech stocks overall.

The rise of TikTok has been part of ongoing US government concerns about China that prompted a trade war. Trump administration officials have argued that TikTok delivers user information to the Chinese Communist Party. TikTok has announced “TikTok US user data is stored in the US”.

 

 

 

 

 

Bottom top
US: Dozens Arrested at NYC Protest Against Alleged Unwanted Hysterectomies at ICE Facility

TEHRAN (FNA)- Dozens of protesters were detained during a march in New York City against unwanted hysterectomies of immigrant women at an Immigration and Customs Enforcement (ICE) detention center in Georgia, after whistleblower complaints from one of the nurses at the center. [VIDEO]
COVID-19 Infections on Rise in Gaza

TEHRAN (FNA)- Covid-19 infected cases in the Gaza Strip has jumped over two thousands. The considerable spike comes within two weeks alone. This comes as the impoverished enclave is struggling with Israeli blockade hampering its efforts to cope with the pandemic. [VIDEO]
UAE, Bahrain, Israel Normalization: Rally Supporting Palestine Held in Morocco

TEHRAN (FNA)- Hundreds of demonstrators on Friday voiced their solidarity with the Palestinian people and protested against the normalization agreements between the United Arab Emirates (UAE), Bahrain and Israel. [PHOTOS]
Coronavirus Death Toll Approaching 1 Million Worldwide

TEHRAN (FNA)- The number of infections with the novel coronavirus has surpassed 30.7 million worldwide with the deaths approaching 1million and recoveries over 22.3 million. [PHOTOS]
No Peace in Afghanistan With US Occupation

TEHRAN (FNA)- Experience tells us that the intra-Afghan peace talks in Doha will once again go nowhere as the United States and its duped allies continue to occupy Afghanistan.
Iran, OPEC Discuss Mutual Cooperation

TEHRAN (FNA)- Iranian Deputy Foreign Minister for International and Legal Affairs Mohsen Baharavand and the Organization of Petroleum Exporting Countries (OPEC) Secretary-General Mohammad Sanusi Barkindo in a meeting in Vienna on Saturday reviewed bilateral relations in the field of energy.
AEOI Chief: No More Inspections of Iranian Sites Requested by IAEA

TEHRAN (FNA)- Head of the Atomic Energy Organization of Iran (AEOI) Ali Akbar Salehi said on Saturday that the International Atomic Energy Agency (IAEA) has asked for no more inspection of the country’s sites after the two sides agreed on two cases of inspection in August.
16 Arrested as Mounted Police Chase People Protesting Melbourne’s Controversial Lockdown Measures

TEHRAN (FNA)- A protest against controversial lockdown measures in the Australian city of Melbourne descended into chaos on Saturday as police on horseback chased after demonstrators, arresting 16 and fining over 20 others.
Documents Show US Officials Baselessly Linked 'Antifa' to Arson Before Wildfires

TEHRAN (FNA)- In recent days, law enforcement agencies from the FBI to county sheriffs have tried in vain to debunk baseless conspiracy theories blaming “antifa arsonists” for starting the devastating wildfires raging in the Western US.
Trump Hints He Could Fire FBI Director over Antifa Disagreement

TEHRAN (FNA)- US President Donald Trump dropped his strongest hint yet that he could replace his own FBI director in their continued Antifa disagreement.
Protesters March Against COVID-19 Measures in London

TEHRAN (FNA)- COVID-19 sceptics gathered to demonstrate against imposed coronavirus measures in London, as Prime Minister Boris Johnson has stated that the United Kingdom is currently experiencing the start of the COVID-19 pandemic's second wave.
Taiwan Scrambles Warplanes as China Holds Aerial Drills Nearby

TEHRAN (FNA)- Taiwan's air force scrambled its jet fighters for a second consecutive day as numerous Chinese warplanes crossed the sensitive midline of the Taiwan Strait, with Taipei’s officials urging Beijing to "pull back from the edge".
Top Human Rights Lawyer Quits UK Envoy Role over 'Lamentable' Brexit Bill

TEHRAN (FNA)- Amal Clooney, the high-profile human rights lawyer, resigned from her position as the UK’s special envoy on media freedom in protest at the government’s intention to breach international law through the internal market bill.
Pentagon Rewriting Pandemic Playbook After Study Faults COVID-19 Response

TEHRAN (FNA)- The Pentagon is in the early stages of rewriting its pandemic playbook after an internal review found failings in the department's initial response to COVID-19, according to defense officials and documents viewed by POLITICO.
Iranian Leader’s Top Aide: N. Deal No More Creditable

TEHRAN (FNA)- Iranian Supreme Leader’s top advisor for international affairs Ali Akbar Velayati said on Saturday that the nuclear deal has been violated both by the US and Europe and enjoys no creditability anymore.