Business and Finance

The House passed a bill binding a potential TikTok ban on Israel and Ukraine

Published

2 weeks ago

April 21, 2024

IAM

WASHINGTON (AP) — The House passed a bill Saturday that will ban TikTok within the United States if the favored social media platform’s Chinese owner doesn’t sell its shares inside a 12 months, nevertheless it doesn’t expect the app to vanish any time soon.

House Republicans’ decision to incorporate TikTok in a larger foreign aid package, a priority for President Joe Biden amid broad congressional support for Ukraine and Israel, hastened the ban after an earlier version stalled within the Senate. A standalone bill with a shorter six-month sales deadline passed the House in March with an awesome bipartisan vote after each Democrats and Republicans raised national security concerns in regards to the app’s owner, Chinese tech company ByteDance Ltd.

The modified measure, passed by a 360-58 vote, now goes to the Senate after negotiations that prolonged the deadline to sell the corporate to nine months, with an extra three months possible if the sale is pending.

Legal challenges could extend that timeline even further. The company has indicated it’s going to likely go to court in an try and block the bill if it passes, arguing it could deprive hundreds of thousands of app users of their First Amendment rights.

An icon for the video-sharing app TikTok is seen on a smartphone, Feb. 28, 2023, in Marple Township, Pennsylvania (AP Photo/Matt Slocum, File)

TikTok lobbied hard against the laws, urging the app’s 170 million U.S. users – a lot of them young – to contact Congress and express their opposition. But the ferocity of the response has angered lawmakers on Capitol Hill, where there’s widespread concern about Chinese threats to the U.S. and where few members use the platform themselves.

“We will not stop fighting and supporting you,” TikTok CEO Shou Zi Chew said in a video posted on the platform last month and addressed to the app’s users. “We will continue to do everything we can, including exercising our rights, to protect this incredible platform we have built with you.”

The bill’s fast track through Congress is unusual since it targets one company and because Congress has taken a hands-off approach to tech regulation for a long time. Lawmakers have didn’t act despite efforts to, amongst other things, protect children online, protect user privacy and make firms more accountable for content posted on their platforms. However, the TikTok ban reflects widespread concerns amongst lawmakers about China.

Members of each side, together with intelligence officials, feared that Chinese authorities could force ByteDance handy over US user data or encourage the corporate to suppress or amplify TikTok content favorable to its interests. TikTok has denied claims that it might be used as a tool of the Chinese government and said it doesn’t share US user data with Chinese authorities.

The U.S. government has not publicly presented evidence showing that TikTok shared U.S. user data with the Chinese government or tinkered with the corporate’s popular algorithm that influences what Americans see.

The company has reasonable grounds to imagine that the legal motion might be successful, given some success in previous legal disputes involving its U.S. operations. In November, a federal judge blocked a Montana law that will have banned TikTok statewide after the corporate and five content creators using the platform were sued.

In 2020, federal courts blocked an executive order issued by then-President Donald Trump banning TikTok after the corporate sued on the grounds that the order violated free speech and due process rights. His administration negotiated a deal that resulted in US corporations Oracle and Walmart taking large stakes in TikTok. The sale never materialized for a variety of reasons; one in every of them was China, which imposed stricter export controls on its technology suppliers.

Dozens of states and the federal government have imposed bans on TikTok on government devices. Texas’ ban was challenged last 12 months by Columbia University’s Knight First Amendment Institute, which argued in a lawsuit that the policy impedes academic freedom since it extends to public universities. In December, a federal judge ruled within the state’s favor.

The application was supported by organizations comparable to the American Civil Liberties Union. “Congress cannot strip away the rights of the more than 170 million Americans who use TikTok to express themselves, engage in political activities and access information from around the world,” said Jenna Leventoff, a lawyer for the group.

Since mid-March, TikTok has spent $5 million on TV ads opposing the laws, in keeping with AdImpact, an ad tracking company. The ads featured quite a few content creators, including a nun, praising the platform’s positive impact on their lives and arguing that a ban would trample on the First Amendment. The company also encouraged its users to contact Congress, and some lawmakers received profanity-laced calls.

“It is unlucky that the House of Representatives is using the quilt of necessary foreign and humanitarian aid to once more push through a ban bill that will trample on the free speech rights of 170 million Americans, devastate 7 million businesses, and shut down a platform that contributes $24 billion annually to American economy,” said Alex Haurek, company spokesman.

California Democrat Ro Khanna voted against the laws. He said he believed there might have been less restrictive ways of prosecuting the corporate that will not have led to an outright ban or threatened free speech.

“I don’t think it will be well received,” Khanna said. “It’s a sign that the bypass is out of touch with where voters are.”

Nadya Okamoto, a content creator who has about 4 million followers on TikTok, said she is talking to other creators who feel “so much anger and anxiety” in regards to the bill and its impact on their lives. The 26-year-old, whose company “August” sells menstrual products and is thought for promoting the destigmatization of periods, makes most of her income from TikTok.

“This will have real consequences,” she added.

This article was originally published on : thegrio.com

Business and Finance

Quavo teams up with Vinny and Kelan Watson to open a restaurant

Published

24 hours ago

May 2, 2024

IAM

Quavo, Vinny Watson, Kelan Watson, Atlanta Restaurant

When opening the restaurant, restaurateurs Kelan and Vinny Watson began cooperation with rapper Quavo V12 Restaurant and Sports Bar. Located at 610 Spring Street in Midtown Atlanta, V12 will open this Saturday. The restaurant is in a great location, with quick access to highway 75/85 and public transportation.

A video posted to a Migos fan account on TikTok shows the “Hotel Lobby” rapper giving fans a glimpse of the chic eatery overlooking the Atlanta skyline.

@Hunchorocketinfinity Quavo V12 restaurant is open on the identical day as Huncho Day. 🙌😄 Congratulations cho cho 🥰🙏 Repost: @v_watson 🥂 #v12restaurant #quavohuncho #quavofans #migos #migosfans #2024 #spring2024 #this summer #Congratulations ♬ original sound – migosfanpage

“I’m really proud of myself.” He said on the recording.

Co-owner Kelan Watson said their goal is to create unforgettable moments for foodies and fans.

“V12 will create moments in Atlanta history where the worlds of spectators and epicureans collide. Come and join us to experience V12,” co-owner Kelan Watson said in a press release

His brother and business partner, Vinny Waston, says they go the additional mile to provide their guests with an exceptional experience.

“My team and I were obsessed with every detail – from the chandeliers, to the lighting, to the sound, to the presentation, etc. I’m sure our guests will create unforgettable memories at V12. It’s going to be EPIC,” he said.

Beverage director Simone Hopson will oversee the bar, which can feature an in depth list of handcrafted cocktails and a curated wine list. There are also over 20 TVs within the space, making it a great meeting place for sports fans.

The interior is decorated with furniture imported from Spain, Italy and the Netherlands, in addition to works by local artists. The retractable roof gives guests the chance to dine under the celebs in the course of the warmer months. Valet parking and on-site parking might be available.

But the point of interest of the 7,500-square-foot space is the Lamborghini from Quavos’ “Lamb Talk” appearance on the show, which sits in the course of the restaurant.

Dinner guests can secure the table by doing online booking.

This article was originally published on : www.blackenterprise.com

Business and Finance

Social Security’s COLA forecast for 2025 looks bleak for retirees

Published

1 day ago

May 2, 2024

IAM

Retirees are eligible for a cost-of-living adjustment, or COLA, however the profit could shrink, in accordance with preliminary forecasts by economists. Economic instability also adds to their concerns on this appearance-driven economy driven by greed inflation.

Estimated drop to 2.6% from 3.2% (this yr’s COLA) is forecast for 2025, although the COLA shall be finalized after the third quarter. Due to always rising inflation and the spending of emergency savings funds, 71% of retirees feel financially unstable.

“The confidence that both workers and retirees have in their ability to fund their retirement in 2023 has declined significantly,” said Craig Copeland, EBRI’s director of wealth advantages. “The last time confidence fell on this scale was in 2008, during the global financial crisis.”

Additionally, 58% of retirees were cutting back on unnecessary spending on account of economic uncertainty and rising costs of products and supplies.

The Motley Fool explained how COLA is calculated.

“Social Security Cost of Living Adjustments (COLA) are based on the common inflation rate through the third quarter, the three-month period covering July, August and September. Interestingly, COLA is calculated using the Consumer Price Index for Urban Wage and Office Workers (CPI-W), a subset of the better-known CPI-U“

It is significant to notice that the 2023 COLA was noteworthy 8.7%.

As retirees feel the pressure of rising prices, many are resorting to returning to work – even part-time – to earn more money. Fifty-seven percent of black households they’re financially broken, and older Blacks are more likely than whites and other ethnic and racial populations to return to physically demanding jobs.

Not only is COLA a priority, but an alarming study also revealed that Black people may not even have access to retirement advantages like their white counterparts.

A study by the Economic Policy Institute found that “Only 57% of older employees (ages 55-64) and 53% of prime-age employees (ages 25-54) take part in employer-provided retirement plans, and the proportion this drops to 25% for employees aged 65 and over. “Lack of access is the biggest factor in reducing employee participation in retirement plans.”

This article was originally published on : www.blackenterprise.com

Business and Finance

The BLACK ENTERPRISE Disruptor Summit returns to ATL

Published

2 days ago

May 1, 2024

IAM

Mark your calendars! BLACK ENTERPRISESthe nation’s leading Black digital media brand, is happy to announce its return BLACK ENTERPRISES The peak of disruptors

The event shall be an electrifying celebration of Black entrepreneurial excellence. Hosted by Nationwide, the two-day summit on May 17-18 shall be a singular business conference like no other, designed to connect, empower and have a good time the pioneers who’re changing the business landscape with amazing innovations.

The summit will begin with a warm welcome from Atlanta Mayor Andre Dickens and can feature an exciting lineup of dynamic speakers and interesting discussions. Get ready for an interesting fireside chat between the multi-talented Nick Cannon and BLACK ENTERPRISESDirector of Multiplatform Content, Selena Hill, where they may discuss Cannon’s unconventional approach to ownership and entrepreneurship within the entertainment industry.

Cannon shared his excitement about attending the conference BLACK ENTERPRISES The peak of disruptors. “I have been a disruptor all my life, and being in a room full of disruptors, path makers, change agents and free thinkers in business and culture will be phenomenal,” said the artist and entrepreneur.

But that is just the tip of the iceberg! Attendees can look forward to hearing from Cam’ron, the Harlem rap legend turned sports media podcaster, in an exclusive one-on-one conversation with BLACK ENTERPRISES Senior Digital Editor Sydney Douyon.

Attendees may also take part in a panel with Shaunie Henderson, visionary CEO Amira limited liability company and the creative mastermind behind the long-lasting series. She will participation invaluable business lessons from her extraordinary journey, including insights from her upcoming memoir, , with BLACK ENTERPRISES Cross-platform content producer Ashlei Stevens.

The summit program will include additional speakers who embody Black excellence, akin to Crystal Etienne, consumer investor and founder and CEO of Ruby Love and Caje and Co.; Justin E. Samuels, founder and CEO of Render ATL; and Luke Bailey, founding father of Neon Money Club.

Attendees can expect thought-provoking discussions and workshops on topics starting from redefining showbiz success to mastering the stock market and fostering social impact innovation.

Disruptor Summit isn’t only about knowledge exchange, it’s a path to potential partnerships, investments and accelerated growth. Aspiring entrepreneurs may have the possibility to showcase their brands within the $15,000 Disruptor Pitch Competition hosted by Walmart. At the identical time, the summit will culminate with the presentation of the Disruptor Award, designed to honor industry disruptors who’re making real change and making a big impact, akin to Arian Simone, founding father of Fearless Fund; Miss Diddy, CEO of The Brand Group Inc.; and Lena Ford, CEO of Positively Lena and co-founder of the Kinship Family Initiative.

How BLACK ENTERPRISES CEO Earl “Butch” Graves Jr. put it this manner: “This summit is a core element of our mission and a key platform that provides Black entrepreneurs with the knowledge, connections and resources they need to thrive in the business world.”

With invaluable resources, inside knowledge and actionable insights, Disruptor Summit goals to equip participants with the tools to boldly innovate, cultivate lucrative brands and take their businesses to latest heights.

“As a long-term partner of the company BLACK ENTERPRISES and title sponsor of this dynamic gathering, Nationwide unwaveringly supports Black innovators and creators at every stage of their entrepreneurial journey,” said Lu Yarbrough III, associate vp of Enterprise Diverse and Cause Marketing at Nationwide.

“This conference offers valuable content and connections that can help both emerging talent and established business owners disrupt norms and advance economic inclusion.” In addition to Nationwide, additional sponsors include Walmart, FedEx and Pronghorn.

Get ready to attend this exciting celebration of excellence in Black entrepreneurship going down on the Southern Exchange Ballrooms in downtown Atlanta on May 17-18. Visit here to learn more in regards to the summit, secure entry tickets, and stay awake to date with the most recent programs.

This article was originally published on : www.blackenterprise.com