TikTok and its employees prepare to fight Donald Trump over app ban
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TikTok and its US employees are planning to take American President Donald Trump's administration to court over his sweeping order to ban the popular video app, according to a lawyer preparing one of the lawsuits.
The employees' legal challenge to Trump's executive order will be separate from a pending lawsuit from the company that owns the app, though both will argue that the order is unconstitutional, said Mike Godwin, an internet policy lawyer representing the employees.
Trump last week ordered sweeping but vague bans on dealings with the Chinese owners of TikTok and messaging app WeChat, saying they are a threat to US national security, foreign policy and the economy.
The TikTok order would take effect in September, but it remains unclear what it will mean for the apps' 100 million US users, many of them teenagers or young adults who use it to post and watch short-form videos.
It's also unclear if it will make it illegal for TikTok to pay its roughly 1,500 workers in the US, which is why some of them came to Godwin for help, he said. The order would prohibit “any transaction by any person” with TikTok and its Chinese parent company ByteDance.
“Employees correctly recognize that their jobs are in danger and their payment is in danger right now,” Godwin said.
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The Supreme Court on Friday issued a notice to the Election Commission of India (ECI) regarding a plea seeking to frame rules in case ‘None of the Above' (Nota) option gets the majority in elections.
Motivational speaker Shiv Khera has petitioned that the ECI treat Nota as a "fictional candidate" and to establish guidelines for conducting re-elections in constituencies where Nota garners a majority.
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The just-concluded follow-on public offer (FPO) of Vodafone Idea Limited (VIL) has not only brought relief to the struggling telecom operator but also to the three investment banks that managed the Rs 18,000 crore share sale. According to the final prospectus filed by the Mumbai-based firm, it has paid Rs 287 crore, 1.6 per cent of the issue size, as book running lead manager (BRLM) fees.
This, according to PRIME Database, is the second-highest BRLM fee paid for a domestic FPO or an initial public offering (IPO).
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India’s largest non-banking financial company Shriram Finance on Friday reported a 57 per cent year-on-year (Y-o-Y) jump in its consolidated net profit for the fourth quarter of 2023-24.
In Q4 of FY24, the consolidated net profit of Shriram Finance stood at Rs 2,021.28 crore as against Rs 1,288.18 crore recorded in the same period of the previous year, due to rise in income and improved asset quality.
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