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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Finance

    Posted By Global Banking and Finance Review

    Posted on February 14, 2025

    Featured image for article about Finance

    By Shivani Tanna

    (Reuters) -TikTok returned to the U.S. app stores of Apple and Google on Thursday as President Donald Trump delayed a ban on the Chinese-owned social media app and assured the tech giants they would not be fined for distributing or maintaining it.

    The popular short video app used by nearly half of all Americans went dark briefly last month, before a law took effect on January 19 that requires its Chinese owner ByteDance either to sell it on national security grounds or face a ban.

    The following day, Trump signed an executive order seeking to delay the enforcement of the ban by 75 days, allowing TikTok to continue its operations in the U.S. temporarily.

    Although TikTok resumed service after Trump's assurances, Google and Apple kept the app removed from their U.S. app stores.

    TikTok, the second-most downloaded app in the U.S. last year, said on Thursday that its latest app was now available for download.

    The delay could have been because Google and Apple were awaiting assurances that they would not be prosecuted for hosting or distributing the app, according to analysts.

    Trump's directive said the companies, which run mobile application stores or digital marketplaces where users can browse, download and update apps, would not face penalties for keeping the TikTok app up and running.

    TikTok had more than 52 million downloads in 2024, according to market intelligence firm Sensor Tower.

    About 52% of its total downloads were from Apple App Store, while 48% were from Google Play in the U.S. last year, Sensor Tower said.

    The law that requires ByteDance to sell TikTok's U.S. assets or ultimately face a ban was signed by then President Joe Biden last April, triggered by national security concerns and fears that China could use the video-sharing app to spy on American users.

    The U.S. has never banned a major social media platform and the law that passed last year gives the government sweeping authority to ban or seek the sale of other Chinese-owned apps.

    Trump said on Thursday that his 75-day deadline on TikTok could be extended.

    The turmoil at TikTok attracted several potential buyers, including former Los Angeles Dodgers owner Frank McCourt, who have expressed interest in the fast-growing business that analysts estimate could be worth as much as $50 billion.

    Trump has said that he was in talks with multiple people over TikTok's purchase and would likely have a decision on the app's future in February.

    (Reporting by Shivani Tanna, Bipasha Dey, Devika Nair, Jaspreet Singh in Bengaluru and Stephen Nellis in San Francisco; Editing by Miyoung Kim, Stephen Coates and Jamie Freed)

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