BATTLE BREWING: TikTok has sued President Donald Trump to overturn his executive order that in effect will ban the Chinese-owned social media app in the US. TikTok said Trump exceeded his authority. Picture: Bloomberg/Ivan Abreu
Uncertainty continues to dog the sale of TikTok, the social media app owned by Chinese media company ByteDance, which has become a pawn in a geopolitical struggle between the US and China.
US President Donald Trump ordered that the US arm of TikTok be sold in August, but China’s government has thrown a spanner in the works by designating some of TikTok’s key technologies subject to export controls.
It’s not just in SA
In an echo of the scandal that has erupted over SA’s Covid-19 relief efforts, accusations have now arisen that hundreds of small business loans made in the US to mitigate the impact of the virus may have been granted fraudulently.
This week, a congressional panel heard that more than $1bn went to companies that had already received more than one loan. This would have been a violation of the rules of the programme. In all, 5.2-million loans were made to companies with fewer than 500 employees.
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