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The deadline for the transaction ban is approaching, TikTok sues the Trump administration again

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The deadline for the transaction ban is approaching, TikTok sues the Trump administration again

TikTok actively took the plan, but the Trump administration just ignored it. The short video app TikTok, which has occupied the front page of US media news for several months and is regarded as a “national security threat” by the US government, seems to have been forgotten by Trump after the election.

Seeing that the deadline for the “trading ban” is approaching (November 12), the Trump administration has lost its voice. On November 10, CNBC issued a message to him, saying, “Remember TikTok?” According to the sources, TikTok has not had a meaningful dialogue with the Committee on Foreign Investment in the United States (CFIUS) for several weeks.

On the same day, TikTok also issued a statement stating that they are actively communicating with CFIUS, but have not yet received any substantive feedback from CFIUS. For this reason, they have to appeal to the court again and apply for a suspension of the “transaction ban” for the forced divestiture of TikTok’s US business.

 

US media CNBC reported that the Trump administration seems to have forgotten TikTok. In order to avoid so-called “national security concerns,” TikTok executives are still interested in completing technical cooperation with Oracle, but they have not received news from the Trump administration for several weeks.

On November 12, the Committee on Foreign Investment in the United States (CFIUS) set a deadline for TikTok to sell its US assets, but TikTok has not received any feedback on this matter. CFIUS has not yet stated whether TikTok will divest its US assets. What are the consequences of assets.

Under this uncertainty, on November 10, TikTok was forced to submit an indictment to the U.S. District Court of Appeals for the District of Columbia, requesting a review of CFIUS actions under the leadership of the Trump administration.

TikTok stated in the statement that although they disagree with CFIUS’s previous assessment results, TikTok has been actively communicating with CFIUS over the past year to address its “national security” concerns. “In the nearly two months after the president initially approved our proposal, we provided a detailed solution for the final agreement, but did not receive any substantive feedback from CFIUS on the data privacy and security framework.”

TikTok also stated that the company has applied to CFIUS for a 30-day extension of the deadline, but has not received any response yet. Now that the effective period of the presidential decree is approaching and it has not been extended, TikTok has to appeal to the court to protect the legal rights of the company and its employees.

TikTok is willing to sell part of its business in the United States. Buyers of this complicated transaction include Oracle and Wal-Mart. Trump approved the transaction in September, but it has been pending since. Regarding the “forgotten” of the Trump administration, the American technology media the verge joked that TikTok reminded the Trump administration that it had forgotten the ban and wanted to know what happened.

CNBC reported that when asked about this matter, a technical consultant of Biden’s transition team said that it is too early to discuss Biden’s views on TikTok.

This is the fourth lawsuit initiated by TikTok against the US government. CFIUS, Trump, US Treasury Secretary Mnuchin and US Attorney General Barr became co-defendants.

This prosecution is different from the past. Prior to this, TikTok, its employees and its platform creators have sued the US government three times, mainly against Trump’s first presidential decree issued on August 6 by invoking the International Emergency Economic Powers Act (IEEPA). On September 27 and October 30, two U.S. judges expressed doubts about the ban and temporarily suspended related ban measures.

However, a person familiar with the matter said that although the judge suspended the TikTok ban, the Trump administration has great flexibility in the legal operation of CFIUS. They may still continue to push for the ban, which prompted TikTok to be forced to adopt action.

Reuters quoted a person familiar with the matter as saying that shortly after Trump made his last public comment on TikTok on September 19, CFIUS stopped responding to TikTok.

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California Disney refunds annual card users, and Paris Disney’s re-opening date is delayed by 48 days

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Recently, according to information released by the Disney Company, Ken Potrock, President of Disneyland Resort (California Disney Resort), said in a statement that due to the ongoing uncertainty of the new coronavirus epidemic and the false news of the reopening of the California Disney Resort, Appropriate refunds will be made for eligible California Disney Resort annual card users, and the current (annual card) plan will be canceled.

It can be seen that due to the impact of the US epidemic, the California Disney Resort has been unable to reopen for a long time. Prior to this, California Disneyland has been “working hard” for the reopening.

On October 21st last year, Disneyland in California announced through the Disney Company: “We have proven that we can responsibly reopen under the science-based health and safety measures that are strictly enforced in theme parks around the world. However. , California continues to ignore this fact and instead requires the state government to know the guidelines that do not work. This makes the standards we meet very different from those of other reopened businesses and state-run facilities. We hope that, together with the union, Let people return to work, but these state government guidelines will keep us closed for the foreseeable future, forcing thousands of people to lose their jobs, cause small family businesses to inevitably close down, and cause damage to Southern California communities Irreparable destruction.”

But in the comments on the news on Twitter, most people believed that under the current conditions, the park should not be reopened.

Up to now, of the six Disney parks in the world, only Shanghai Disneyland, Tokyo Disneyland, and Orlando Disneyland in the United States are open. In addition to Disneyland in California, Hong Kong Disneyland and Disneyland Paris are also closed.

On December 1, 2020, Hong Kong Disneyland Resort announced that in response to the government’s request and in line with the current epidemic prevention measures taken by Hong Kong, Hong Kong Disneyland will be temporarily closed from December 2. Hong Kong Disneyland Resort will maintain close contact with the Hong Kong government and health authorities and will announce the reopening date depending on the situation. This is the third time Hong Kong Disneyland has closed the park since the outbreak of the new coronavirus in 2020.

In addition, Disneyland Paris has also been closed twice.

On October 29, 2020, Disneyland Paris has closed again after reopening on July 15. According to news from the official website of Disneyland Paris, in order to celebrate the Christmas holiday, Disneyland Paris will accept reservations from December 19, 2020, to January 3, 2021, and hopes to open it according to the prevailing situation and government guidance. From January 4th to February 12th, Disneyland Paris will be closed.

But for now, Disney Paris may not be able to reopen as scheduled on February 13.

On January 18th, local time in France, the updated message of Disneyland Paris said: “If conditions permit, we will reopen Disneyland Paris on April 2, 2021, and accept reservations from that date.”

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Many European countries shortage of vaccines and French companies may manufacture rival’s vaccines

About a third of the European Union member states are currently in short supply of the new coronavirus vaccine. Six EU member states sent a letter to the European Commission on the 15th, requesting the European Commission to put pressure on vaccine manufacturers to ensure timely, stable, and transparent delivery of vaccines.

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About a third of the European Union member states are currently in short supply of the new coronavirus vaccine. Six EU member states sent a letter to the European Commission on the 15th, requesting the European Commission to put pressure on vaccine manufacturers to ensure timely, stable, and transparent delivery of vaccines.

French government officials said on the same day that the Sanofi Group, the largest French pharmaceutical company, may produce the new coronavirus vaccine developed by foreign pharmaceutical companies.

 

Complaining about insufficient supply

The new coronavirus vaccine jointly developed by Pfizer Pharmaceuticals and German Biotech will be vaccinated in the EU on a large scale from December 27, 2020. The health ministers of EU member states held a video conference on the 13th of this month to discuss vaccine delivery. A participant told Reuters that about one-third of EU member states complained of insufficient vaccine supplies.

Sweden, Denmark, Finland, Lithuania, Latvia, and Estonia sent a letter to the European Commission on the 15th, requesting the European Commission to put pressure on Pfizer and new biotech companies to ensure timely, stable, and transparent vaccine delivery.

The health ministers of the aforementioned six countries said in the letter: “This situation is unacceptable…not only affects the established vaccination schedule but also undermines the credibility of the vaccination plan.”

The Danish Minister of Health Magnus Hojnik said: “We are racing against the new coronavirus and the more contagious mutant virus… We, therefore, attach great importance to the reduction in vaccine deliveries.”

According to the Finnish Broadcasting Corporation News Department, the delay in vaccine supply will cause difficulties in the distribution of vaccines in Finland between the end of January and the beginning of February.

Italian Covid-19 Emergency Committee Commissioner Domenico Alcuri said that Pfizer will cut the dose of vaccine delivered to Italy by 29% starting on the 18th. The pharmaceutical company did not specify how long the supply reduction will last.

 

Preparing to increase production

Pfizer said on the 15th that in order to achieve the goal of increasing vaccine production, the company has changed its production process, which will “temporarily affect” the vaccine delivery schedule from the end of January to the beginning of February. The German Biotech Company said that the output of the company’s plant in the town of Pierce, Belgium will decline in the next few weeks. The reason for the decrease in output is that the company has changed some production processes to increase production capacity.

The vaccine factory in Pierce Township supplies vaccines to countries and regions outside the United States.

The European Commission, on behalf of EU member states, negotiated vaccine procurement with Pfizer and German Biotech, but it is not responsible for vaccine delivery. According to the contract, Pfizer and German Biotech will supply 600 million doses of vaccine to the EU. The two pharmaceutical companies agreed to deliver 75 million doses of vaccine to the EU in the second quarter of this year or later, but neither mentioned how many vaccines will be delivered in the first quarter of this year.

European Commission President Ursula von der Lein said that she had already had a phone call with Pfizer CEO Albert Bla. Bra “reassured that all vaccines promised to be delivered in the first quarter will be delivered in the first quarter. He personally asked, and will shorten the time for delayed delivery to ensure that they can catch up as soon as possible.”

The population of the EU is approximately 450 million. Two doses of this vaccine are required.

 

Possible to cooperate to increase capacity

In an interview with the media on the 15th, Agnès Panier-Lunache, the ministerial representative of the French economic department in charge of industry, said that the new coronavirus vaccine developed by Sanofi Group, France’s largest pharmaceutical company, will take time to be available. This company may Assist in the production of new coronavirus vaccines developed by other national pharmaceutical companies.

Panier-Lunache said that she discussed the possibility of Sanofi as a subcontractor for other pharmaceutical companies with Sanofi Group. “We are working with them (Sanofi) to consider… They are working with German Biotech and (U.S.) Janssen Pharmaceuticals separately to study whether (cooperation) is possible.”

According to her, the main issue for cooperative production is whether Sanofi has spare capacity to produce vaccines in the next three to five months.

Sanofi Group told Agence France-Presse that Sanofi is evaluating the technical feasibility of temporarily producing vaccines for other pharmaceutical companies, and the discussion is still at a “very early stage.” Sanofi did not mention which companies it cooperates with.

Agence France-Presse reported that a French pharmaceutical subcontractor said it would produce Pfizer-Germany’s new biotechnology vaccine, and another pharmaceutical subcontractor is scheduled to start producing the new coronavirus vaccine developed by Modena in the United States at the end of February or early March.

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WeWork CEO expects profit in the fourth quarter of this year and plans to re-IPO

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WeWork global CEO Sandeep Mathrani said on January 14 that WeWork is expected to achieve profitability in the fourth quarter of this year. After achieving profitability, the IPO plan will be put on the agenda.

Mathrani said that WeWork currently has $3 billion in liquid assets on its books, enough to support the company until 2022. He said that in December 2020, WeWork announced the best member sales data since December 2019. Mathrani seems to want to hint that the company has a bright future.

Regarding the Chinese business, Mathrani said that from the perspective of occupancy rate, leasing, and demand, China’s office space usage has basically returned to 90% of the level before the new coronavirus epidemic.

The controlling stake in WeWork’s China business was announced in September 2020. At that time, WeWork announced that its existing investor in its Chinese subsidiary, Zhixin Capital, had injected an additional US$200 million in the capital and now owns more than half of its Chinese business. Michael Jiang, operating partner of Trustworthy Capital and former senior vice president of Meituan Dianping, will serve as the acting CEO of WeWork China. This means that WeWork China must implement a comprehensive localized operation model.

It is worth noting that although WeWork’s parent company, We Company, has given up its operational control over WeWork China, it will continue to receive annual service fees; in exchange, WeWork’s business in China will continue to use WeWork’s brand and services. Part of the transaction is similar to the traditional franchise model. According to people familiar with the matter, WeWork will retain a minority stake in the Chinese business and a board seat.

This company, once known as the American unicorn, experienced IPO abortion, plummeting company valuation, layoffs, replacement of founders, major shareholders investing large sums of money to continue their lives, appointing new CEOs, etc. from 2019 to 2020. A series of actions tried to save the originator of this shared office space.

As the majority shareholder of WeWork, SoftBank Group planned to acquire WeWork shares worth up to 3 billion US dollars at a price of 19.19 US dollars per share in November 2019, including the company’s co-founder and former CEO Adam Neumann up to 970 million US dollars Of shares. But in the end, SoftBank decided to abandon its US$3 billion tender offer for WeWork.

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