Friday: TikTok confirms investor deal, key delay reveals North Korean
TikTok has struck a deal to sell a majority stake in its U.S. operations to avoid a nationwide ban. The agreement involves tech giant Oracle and retail leader Walmart as key investors. Meanwhile, concerns over foreign influence in Western businesses have grown after reports revealed North Korean IT workers infiltrating companies under false identities.
In Europe, Meta Platforms faces legal setbacks after Austria’s Supreme Court ruled against its data collection and targeted advertising practices. The decisions come amid broader scrutiny of how tech firms handle user information and foreign involvement in digital industries.
TikTok’s parent company, ByteDance, agreed to divest a controlling stake in its U.S. subsidiary to comply with American regulations. The deal includes Oracle and Walmart, along with two other investment firms. Under the terms, TikTok’s algorithm and user data will remain under local control, addressing national security concerns that had threatened a full ban.
The move follows years of pressure from U.S. officials, who argued that TikTok’s Chinese ownership posed risks to data privacy and influence. Oracle will take a leading role in managing the platform’s operations, while Walmart’s involvement signals a push into digital commerce and social media. Separately, investigations have uncovered North Korean IT specialists working remotely for Western companies under fake identities. These operatives, often posing as freelancers, generate revenue for the regime and sometimes gather intelligence. In one case, Amazon.com detected an operative after noticing unusual delays in their keystroke timing. Across the Atlantic, Meta Platforms suffered a legal blow when Austria’s Supreme Court ruled that the company could no longer target users with tailored ads. The court also prohibited Meta from harvesting personal data from third-party websites without explicit consent. The decision reinforces stricter privacy laws in the European Economic Area, where regulators have long criticised the firm for excessive data collection and lack of transparency.
The TikTok deal allows the app to continue operating in the U.S. under local oversight, easing fears of a shutdown. Oracle and Walmart’s participation ensures compliance with divestiture laws, while the crackdown on North Korean operatives highlights ongoing risks in global tech employment.
For Meta, the Austrian ruling limits its ability to track and advertise to users, forcing changes to its business model in Europe. The cases reflect wider efforts to regulate foreign influence and data practices in digital industries.
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