Customers of Harrods Ltd., the luxury London department store, had their personal data stolen, the latest of cyberattacks and IT breaches affecting major UK businesses this year https://t.co/5sgAUuLpsL ...

The Trump administration is relying on Oracle Corp. to secure Americans' data in the sale of TikTok to US interests, but critics say the agreement is similar to one rejected previously https://t.co/fAhBUnB3Dj ...

Core Insights - TikTok, owned by ByteDance, has faced scrutiny in the U.S. over user data security concerns, leading to a complex relationship with the government [1][14] - An executive order by President Trump has approved the sale of TikTok's U.S. operations to an American investor group, valuing the U.S. business at approximately $14 billion, with potential future valuation exceeding $60 billion [3][4] Group 1: Ownership and Valuation - A consortium of investors, including Oracle, Silver Lake, and Andreessen Horowitz, is expected to oversee TikTok's U.S. operations, holding an 80% stake, while Chinese stakeholders will retain the remaining shares [5][6] - The deal is part of a framework agreement between the U.S. and China, with President Xi Jinping's approval for the transaction [4][5] Group 2: Operational Changes - Oracle is anticipated to manage TikTok's security and safety measures, replicating and securing a new U.S. version of the algorithm, which ByteDance will not have access to [9][10] - Reports suggest that once the deal is finalized, the TikTok app may be discontinued in the U.S., requiring users to transition to a new platform, though details about this platform remain unclear [11] Group 3: Historical Context - The timeline of TikTok's relationship with the U.S. government includes various legal battles and negotiations, starting with Trump's executive order in August 2020 to ban transactions with ByteDance [14][15] - TikTok has consistently denied posing a security threat, asserting compliance with local laws regarding data storage in the U.S. [16]

Security Breach - Exposed Indian bank transfer records were found by security researchers [1] - The data was eventually secured [1] - No one wants to take responsibility for the security lapse [1] Data Security - The incident highlights potential vulnerabilities in data security practices within the Indian banking sector [1]

I had a a very good talk with President Xi, a lot of respect for him. Hopefully he has a lot of respect for me, too. And uh we talked about Tik Tok and other things, but we talked about Tik Tok.And he gave us the go-ahad. You know, it's run by American investors and American companies, great ones, great investors. The biggest, you don't get bigger, I don't imagine.Are you satisfied that there's no security concerns for a push disruptive. The biggest reason is that it's owned by Americans uh and and very sop ...

Do we know if this deal will address those concerns. We'll keep, for instance, our data and our our information safe. Here's what the administration has said at this point.A senior White House official has explained that the way that the algorithm is going to work is that they're saying that China has essentially agreed to export a copy. That's a big concession by the way on the Chinese part. If that comes to be what we see happen, that algorithm will be trained, retrained with US user data.An algorithm is ...

John, the president just signed an executive order attesting that the new Tik Tok deal that's being contemplated here does comply with US law and satisfies national security concerns. But as he was discussing the deal, we got a couple of new details about what's envisioned here, including a new total valuation that the vice president gave in the Oval Office just a short time ago. Take a listen.>> Uh the company will be valued around $14 billion. We actually think this is a good deal for investors, but ultim ...

Valuation & Investment - The company's valuation is estimated at approximately $14 billion [1] - The deal is considered favorable for investors [1] - Investment decisions ultimately rest with the investors based on their valuation assessment [1] Data Security & Accessibility - The agreement aims to safeguard American data security [1] - The agreement seeks to maintain the accessibility of TikTok [1]

I had a very good talk with President Xi. Let respect for him. Hopefully, he has a lot of respect for me, too.And we talked about tick tock and other things, but we talked about tick tock and he gave us the go ahead. You know, it's run by American investors and American companies, Great ones, great investors. The biggest You don't get bigger, I don't imagine.But the fundamental thing that we wanted to accomplish is that we wanted to keep tick tock operating, but we also wanted to make sure that we protected ...

Under the terms of this deal, Tik Tok will be owned by a majority of American investors and controlled by a board of directors with extensive national security and cyber security credentials. In partnership with the US government, Oracle will serve as Tik Tok's trusted security provider and they will independently monitor the safety and data security of all US user data on Tik Tok's platform. Americans data will be stored uh securely in the United States without access from China. All US user data will be s ...