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Stock impact report

US asks court to reject TikTok's bid to stave off law that could ban the app [Yahoo! Finance]

TENCENT HLDGS UNSP/ADR (TCEHY) 
NASDAQ:AMEX Investor Relations: tencent.com/en-us/investor.html
Company Research Source: Yahoo! Finance
TikTok to temporarily block a law that would require its Chinese parent company ByteDance to divest the short-video app by Jan. 19 or face a ban. TikTok and ByteDance on Monday filed the emergency motion with the U.S. Court of Appeals for the District of Columbia pending a review by the U.S. Supreme Court. They warned that without court action the law will "shut down TikTok — one of the nation's most popular speech platforms — for its more than 170 million domestic monthly users." The Justice Department said the court should not delay the law's effective date arguing "continued Chinese control of the TikTok application poses a continuing threat to national security." TikTok did not immediately respond to a request for comment. DOJ said Wednesday if the ban takes effect on Jan. 19 it would "not directly prohibit the continued use of TikTok" by users who had downloaded TikTok but it conceded that the effect of the prohibitions on providing support "will eventually be to render t Show less Read more
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