TikTok CEO, Trump talk as ban looms
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 17 December 2024
⏱️ 6 minutes
🧾️ Download transcript
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning. |
| 0:08.0 | Good morning. Today is Tuesday, December 17th. I'm Julie Morgan. The CEO of TikTok and the President-Elect had a meeting. |
| 0:17.0 | Alibaba is taking a big loss from a sale, and META has to pay up over a privacy suit. |
| 0:24.6 | The CEO of TikTok met with President-elect Donald Trump at the Mar-a-Lago resort on Monday, according to multiple media reports. |
| 0:32.6 | This was just hours after the Bight Dance-owned app asked the Supreme Court to review its potential ban in the U.S. |
| 0:40.2 | The app is required to divest from its Chinese parent firm or face a ban in the U.S. |
| 0:45.1 | under a law that will be effective January 19th, a day before Trump's inauguration. |
| 0:50.6 | Trump told the media ahead of the meeting with TikTok CEO that they'll take a look at TikTok |
| 0:55.5 | and that he has a warm spot in his heart for the app. It's not immediately clear what they |
| 1:01.2 | discussed during their meeting. While it's unclear how Trump may intervene, some experts told |
| 1:06.7 | the Financial Times that the law allows for the app to continue operating in the U.S. |
| 1:12.0 | if the president determines that it's no longer under Chinese control. |
| 1:17.7 | Alibaba is selling its stake in department store chain in time to a group of buyers, |
| 1:23.2 | including Yangor fashion, for approximately $1 billion billion taking a loss on the sale. |
| 1:28.9 | The e-commerce giant will book a loss of about $1.3 billion compared to Alibaba's initial investment |
| 1:35.7 | of $2.6 billion when it acquired in time in 2017. A potential deal was first reported by Bloomberg |
| 1:43.2 | on Monday. The decision to divest in time aligns with Alibaba's broader strategy to streamline operations and focus on its core e-commerce business. |
| 1:53.6 | Alibaba is also considering a sale of its stake in supermarket chain's Sun Art Retail Group with the negotiations in progress. |
| 2:02.7 | Reimagine the way you invest with Seeking Alpha's virtual analyst reports, an AI-powered tool |
| 2:08.3 | that consolidates and synthesizes crowdsourced analysis and quant ratings from the Seeking |
| 2:14.1 | Alpha platform, our innovative industry-leading blend of cutting-edge technology |
| 2:19.0 | and expert human analysis that provides investors with the most comprehensive and nuanced |
... |
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