Oracle says US ban of TikTok would hurt its profits


Key Topics in this News Article:

News Snapshot:

Software giant Oracle warned investors that a US ban of TikTok will likely damage its bottom line if it takes effect. In April, Congress passed a bill that would require TikTok’s Beijing-based parent ByteDance to divest from the app entirely within 12 months or face a total US ban. Oracle, co-founded and chaired by billionaire tech executive Larry Ellison, said the law “will make it unlawful to provide internet hosting services to TikTok,” Oracle said in its annual report published Monday. 4 Congress passed a law requiring TikTok to be sold within 12 months or face a total ban. AP...