Tag: Stake

TikTok Warns Half Its User Base at Stake Under Trump Ban, Says Fashion Strategy Won’t Change

TikTok filed a preliminary injunction Wednesday in a Washington D.C. court to block the Trump administration’s ban on downloads, now postponed to this Sunday just before midnight.

The developer is playing defense, hoping to keep the TikTok app available in app stores run by Google and Apple, while a proposed deal by Oracle and Walmart continues playing out. Interim head Vanessa Pappas painted a bleak picture, warning that the ban would cause “irreparable harm” to the business.

According to the filing, “If allowed to remain in place, the Prohibitions will irreversibly destroy the TikTok business in the United States: They will devastate TikTok’s user base and competitive position, destroy the goodwill necessary for TikTok to maintain commercial partners in the United States and cripple Plaintiffs’ ability to attract and retain talent.”

Pappas disclosed that a ban may cost TikTok as much as half of its user base — which numbers

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The West Coast’s wildfire real estate crisis has $8 billion at stake

  • The 2020 wildfires are some of the worst in the history of the West Coast. 
  • Per a recent analysis by Realtor.com, roughly $8 billion worth of real estate is currently at risk in California and Oregon, which equates to over 23,700 homes. 
  • Top real estate agents up and down the coast describe why this year is different, and what it means for property values. It could actually be a good thing for urban areas.
  • Jed Kolko, chief economist for jobs site Indeed, told Business Insider that while the fires may prompt some to move away, others with the financial means may become seasonal “firebirds,” like the “snowbirds” on the east coast. 
  • Visit Business Insider’s homepage for more stories.

The 2020 wildfires are some of the worst in the history of the West Coast.

In recent weeks, dozens of fires have lit up California, Oregon, and Washington, burning both rural and

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Trump reviews ByteDance’s plan to keep majority stake in TikTok, sources say

NEW YORK, Sept 15 (Reuters) — President Donald Trump and top U.S. officials were to meet at the White House on Tuesday, Sept. 15, afternoon to consider a proposal by China’s ByteDance to keep majority ownership of its popular TikTok video app, people familiar with the matter said.

Trump has ordered ByteDance to divest TikTok amid U.S. concerns that user data could be passed on to China’s Communist Party government. He has threatened to ban TikTok in the United States as early as Sept. 20 if ByteDance does not comply.

Under ByteDance’s proposal, however, the Beijing-based company would keep a majority stake in TikTok’s global business and move its headquarters to the United States, the sources said. Oracle Corp would become ByteDance’s technology partner responsible for the management of TikTok’s data and take a minority stake in TikTok, the sources added.

The ByteDance proposal also calls for the Committee on

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FBL Financial Group Announces Receipt of Proposal to Acquire Public Minority Stake

FBL Financial Group, Inc. (NYSE: FFG) (the “Company”) announces today that it has received a non-binding proposal dated September 4, 2020 (the “Proposal”) from Farm Bureau Property & Casualty Insurance Company (“FBPCIC”) to acquire all of the outstanding shares of Class A common stock and Class B common stock of the Company that are not currently owned by FBPCIC or the Iowa Farm Bureau Federation at a purchase price of $47.00 per share in cash. The Iowa Farm Bureau Federation owns approximately 60% of the Company’s Class A common stock and approximately 67% of the Company’s Class B common stock.

The Proposal is subject to certain conditions. A copy of the Proposal is included as Appendix A to this news release.

The Company cautions its shareholders and others considering trading in the Company’s securities that the Company only recently received the Proposal and that the Company’s Board of Directors has

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