TikTok says it will own U.S. subsidiary, disputes Trump’s claim of $5 billion U.S. education fund

President Trump gave approval Saturday for a deal in which China’s ByteDance would partner with Oracle and Walmart to create a U.S. TikTok spinoff that would satisfy his security demands. ByteDance said Monday it wanted to clarify some “groundless rumors” about the deal, asserting that the Beijing company would control 80 percent of a wholly owned subsidiary, TikTok Global, after a public offering. Oracle would own a 12.5 percent stake and Walmart the other 7.5 percent. U.S. backers of the deal argue that because U.S. investors own 41 percent of ByteDance, the 20 percent owned by Walmart and Oracle would give U.S. investors and companies a majority stake in the… Read More

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Why You Won’t Find A Guaranteed Basic Income In The Liberal Throne Speech

OTTAWA — Despite the Liberal caucus’ push, and the prime minister saying the throne speech would focus on closing the gaps and caring for Canada’s most vulnerable, a guaranteed basic income won’t be the landmark of the government’s agenda Wednesday. The throne speech will neither explicitly endorse nor close the door on basic income, two officials told HuffPost Canada. HuffPost is not disclosing the names of the officials because they were not authorized to speak publicly. Although a basic income won’t be a cornerstone piece of the throne speech, Wednesday’s document will still focus on other benefit programs to get Canadians through the pandemic. And because of the Liberal caucus’… Read More

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Disney’s Mulan misadventure

The smartest insight and analysis, from all perspectives, rounded up from around the web: Disney’s summer blockbuster is becoming a horror show, said Christopher Palmeri at Bloomberg. What was “supposed to be another $1 billion” megahit, the live-action remake of 1998’s hugely popular animated film Mulan, is “proving to be a political hot potato.” The controversy began more than a year ago, when the movie’s leading actress, Liu Yifei, “voiced her support for the mainland Chinese government during Hong Kong pro-democracy protests.” Complaints that Disney was catering to China’s Communist Party gained steam when viewers who paid $30 to stream the film noticed “special thanks” in the closing credits to… Read More

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Why has the U.S. COVID-19 response been so bad? Jared Kushner, Vanity Fair suggests.

President Trump and his White House say they’ve done a great job responding to the COVID-19 pandemic, but by most metrics, including cases and deaths, the U.S. resembles a failed state. Vanity Fair’s Katherine Eban “wanted to better understand how the U.S., with its advanced medical systems, unmatched epidemiological know-how, and vaunted regulatory and public health institutions, could have fumbled the crisis so disastrously,” she wrote in an article published Thursday. Her pen ended up pointing at Jared Kushner, Trump’s son-in-law and overburdened senior adviser. Specifically, Eban blamed Kushner and his “shadow” coronavirus task force’s “quasi-messianic belief in the private sector’s ability to respond effectively to the crisis and their… Read More

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Another 860,000 Americans filed new jobless claims last week

The number of Americans filing new jobless claims has declined after failing to budge last week, though it still remains historically high. The Labor Department on Thursday said that 860,000 Americans filed jobless claims last week, down 33,000 from the week prior. Last week, the Labor Department’s data showed that there had been no decline in new jobless claims, raising concern after experts thought there would be a dip. Ahead of Thursday’s data, economists had predicted there would be about 875,000 claims, per CNBC. Continuing claims dropped by almost one million to 12.6 million, the Labor Department also said Thursday, Bloomberg reports. This was another week that the number of… Read More

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Airlines are now selling tickets for scenic ‘flights to nowhere’

They take off and land at the same airport, but for some jetsetters, these “flights to nowhere” are enough. The Association of Asia Pacific Airlines says because of the coronavirus pandemic, there has been a 97.5 percent drop in international travel in the region. Taiwan’s EVA Air and Japan’s ANA wanted to find a way to make money and ensure their pilots could keep their licenses, so they started offering special scenic flights. Last month, an ANA plane that is typically bound for Honolulu instead flew around for 90 minutes with “a Hawaiian experience on board,” Reuters reports. Qantas is now following in their footsteps, offering a flight that takes… Read More

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