9/14, 7:08 PM (Source: TeleTrader)
more TeleTrader news

Oracle deal will resolve US security concerns - TikTok

TikTok stated on Monday it hoped the proposed cooperation between the video platform and Oracle Corporation would resolve the United States' government's concerns over national security.

Earlier in the day, Oracle confirmed it reached an agreement with TikTok-owner ByteDance to serve as its "trusted technology provider" in the US.

US Treasury Secretary Steven Mnuchin previously announced the news and unveiled Oracle's offer includes a suggestion to find a new company, TikTok Global, which would create tens of thousands of jobs.

Breaking the News / JR