we tell us more about bytedance and its changes.— tell us more about bytedance and its changes.its changes. we had reports that there will be _ and its changes. we had reports that there will be some - and its changes. we had reports that there will be some job - that there will be some job cuts at bytedance, now the company has confirmed they will come from the gaming division which it wants to downsize. they will not say how manyjobs or where in the world people will be laid off but we understand hundreds of employees will be effected. this marks a significant retreat from a segment by bytedance which gave an aggressive push in since 2019, investing billions of dollars, mainly to compete with the market leader tencent, the world's biggest gaming company in terms of revenue but bytedance has failed to gain market share. it has had some hits but not quite the commercial blockbusters it was expecting. the bbc understands the games such as earth revival will continue but titles that have not launched yet will be shut down by december. bytedance says it regularly reviews its busine

bytedance made one as well. they are likely to spin that off.t to be selling into this environment at the moment? are gaming studios valuable or less so after the regulatory crackdown? >> i think there is a lot of internationalization of chinese companies to the rest of the world in terms of mergers and acquisition or selloffs or more. if bytedance sold off mouton, their game is popular throughout the world and i think they would have a buyer waiting for it. there are rumors they would selloff mouton but i don't think that's their mainstay business. there has been a ripe appetite for acquisitions come particular out of the middle east like saudi arabia with the public investment fund s purchasingcopely and dedicated $38 billion to investments of any kind of company or studio to be able to build saudi arabia's game industry probably with and i am becoming what china has become. it's not surprising there would be acquisitions around the world and mouton would be a brand people would be interested in. i would be surprised if they sold it up because

the ccp board member of bytedance. so the forbes' investigation into tiktok and bytedance revealed that a bytedance tool, which is run by tiktok staff in china, is tracking what it considers to be sensitive words. they do this across the company's products. now, some of these sensitive words may be things that are anticcp, anti-positions of the ccp, anti-xi jinping or anti-mao. those are considered sensitive. they draw the attention, and they get labeled by the staff as sensitive words that are forbidden or that must be killed or that are prohibited. in other words, tiktok is censoring the speech and they are, in part, blocking some posts from ever being seen. this is why you have the hundreds of millions that are seeing a pro-hamas post and the tens of millions that are seeing a pro-israel post. here's something else that we should all be aware of, and parents listen up on this. the tool also tracks every time one of these words comes up. so if you're repeatedly posting something that is pro-israel, that gets tracked

so the chief editor of bytedance is also the boss of the internal communist party cell inside of bytedance ceo's own admission the ceo of tiktok reports to the ceo of bytedance. we know that tiktok has censored topics that are deemed sensitive by the chinese communist party like topics related to at this d human rights abuses in hong kong. we know that tiktok also -- several employees from tiktok have basically defected from the company has said t chinese communist party ah has complete access to american user data on the app. we know there are investigations of the company's internal communications. so there's a lot of things that we already know today that a show preponderance of evidence that the chinese communist party controls the app. as you rightly pointed out, it's completely odd and abnormal that if you look at the two most popular hashtags related to the war -- israel's war against hamas, it's free palestine and stand with israel. maria: yeah. >> 96% of the hashtags are free palestine and only 3.5% are stand with israel. which only leaves me with two options, either hamas is more

and also, stuart, remember, tiktok is owned by bytedance.chinese communist party who has a seat on the byte withdance board, and all of that information is shared with bytedance board members. that is your information. it should be banned, and i am so pleased to be working with senator rubio with his legislation which would ban tiktok in the u.s. stuart: okay, i've got it. senator black burp, thanks for joining us this morning. we'll improve the awed a owe quality next time we have you onboard. thanks so much, ma'am. >>> now this, the navy -- that would be the u.s. navy -- shot down an iranian-made drone. tell me more. lauren: a u.s. warship in the red sea shot down this iranian-made drone that was launched from yemen, a part controlled by the iran-backed houthis. this drone was headed toward a u.s. warship. that warship was escorting a navy if oiler, and the ship carrying u.s. military equipment. this happened during the ceasefire. it's the first confirmed attack on u.s. forces since november 23rd, since the ceasefire. and if you're keeping

bytedance the parent company of tiktok is cutting jobs in its gaming division despite investing billionsestructuring its gaming business after reviewing its strategic growth areas. much more on that story and all the other stories on the website. thank you very much for watching. stay with bbc. annoucer: bbc news - bringing you different stories from across the uk. at the central methodist hall, in coventry, volunteers have come together to put on the £1 panto. it's called cinderballer, and it's a take on cinderella — but the twist here is she wants to play football rather than go to the ball. # like a diamond in the sky... cinderballer actually is poor, and she has an evil stepmum, and she has dreams of being a massive football player. and the dream is to just show young kids and everyone else that anyone can follow their dreams. gareth southgate and sarina wiegman, the national team coaches, are in the cast. european champions and world cup finalists this year! cheering and i manage the men's and we've won... - anyway! and there is support from local semiprofessional players. putting o

bytedance spent more in the first three quarters of 2023 than any prior year with another three monthsll to go. spending of about $7.4 million in federal lobbying and eclipsing the 4.9 million it spent on federal lobbying in 2022. that is wild. panel, great to see you don't. thank you so much. all right, up next, i'm exposing the cease-fire phonies. ned ryun and a lot more, next. ♪ help us to surrender ourselves completely to you. help us to listen to your voice. even when we're distracted or tired, we pray this in the name of the father and of the son of the holy spirit. amen. thank you so much. i just want to encourage you that if you want to join me in more prayer, check out hallow it's the number one prayer app in the world. hey, grab more delectables. you know, that lickable cat treat? de-lick-able delectables? yes, just hurry. hmm. it must be delicious. delectables lickable treat. ♪ are you lies or against saving lives? the time to decide is now. cease-fire now! cease-fire now! [chanting] americans wants a cease-fire. they at this point in time it stop. [shouting] cease-fire now!

bytedance is the parent company of tiktok. bytedance is chinese controlled.na is effectively pouring money into capitol hill so that republicans don't kick up too much of a fuss about tiktok. the fact that that's on our kids phones at all is a complete outrage and it's money that is corrupting the whole system up there on capitol hill and you might as well just give your phone to the chinese. if you are going to have a tiktok app., sorry. you have just given away all your personal information. congressman, it's great to see you as always. thank you. israel hats gaza city surrounded as it's preparing all-out assault. biden administration talking about a pause, a live report from the ground in moments (car engine revs) (engine accelerating) (texting clicks) (tires squeal) (glass shattering) (loose gravel clanking) >> laura: israel is making advances in its war against hamas as we have seen massive explosions erupt all across the sky in gaza tonight. the israeli defense force is reporting that in the last few hours over 130 hamas terrorists have been thwarted. f

we had bytedance executives apologize in the past for failing to follow appropriate political directiononfront it's a complex difficult issue. the issue we must confront whether we want to allow the dominant media platform in america to be one controlled the chinese party. period and for young americans millennial's, gently below it is how they get the news. and what information and unlimited power, that's a concern we have. period i am for a band or a for sale if we can effectuate with the trump administration to do in the bud saw ended american company in this is where the middleground arrangements, project taxes and mitigation agreement, it didn't address the core problem of algorithmic control and we could do that could be a win-win. market investors would not win money we would have a national security concern that would be alleviated and we could spin off into a tiktok america, we would have the issue of whether social media and general is good for our kids and i don't think it is. jonathan hite and others are convincingly arguing were allowing whole generation of children to be r

a spokesperson for the company said in a statement to the bbc that bytedance is restructuring its gaming—term strategic growth areas. in the past years, the company had been aggressively investing into gaming unit new verse in a bid to challenge the market leaders in china. a us federaljudge has ordered the founder of finance to remain in the country until at least the 23rd of february when his sentence hearing is scheduled. he pleaded guilty last week to criminal charges linked to the crypto currency exchange after an investigation that spanned years. among other things, he was charged with wilfully violating us economic sanctions and failing to implement effective money laundering control. he lives in the uae, which does not have a formal extradition treaty with the us. he had flown to the us for his guilty plea. finance continues to operate its business but is required to strengthen its compliance programme so it is “p compliance programme so it is up to america's anti—money laundering standards. now to some news about tesla which is suing sweden and it has scored an early win. the el

now, hawley claims tiktok has a history of political manipulation and that its chinese other than, bytedanceent israelis suffer and die. basically, hawley wants yellen who chairs the committee on foreign investment in the united states to ban all bytedance-controlled apps currently available to u.s. users. stu. stuart: all right, ashley, we hear that. next case can, ketamine. it's emerging as a popular pain treatment as doctors scale back their use of opioids. some medical experts are concern concerned the risks outweigh the benefits. >>> 23% of medical students in america have considered dropping out of school. they're concerned how their medical career would affect their mental well-being. dr. siegel takes it on next. ♪ doctor, doctor, give me the news -- ♪ i got a bad case of loving you. ♪ no pill is gonna cure my ail. ♪ i got a bad case of loving you ♪ bringing you an elevated experience, tailor-made for trader minds. go deeper with thinkorswim: our award-wining trading platforms. unlock support from the schwab trade desk, our team of passionate traders who live and breathe trading. and

nothing like bytedance and -- >> what's bytedance?ble privates. >> we'll see if and when we get a number we can run with. >>> one more thing before we go. nearly $2 billion of art going up on the block this week. there are some clouds on the horizon when it comes to demand. robert frank is joining us with that story. good morning. >> big test for the art market. fall auction season kicking off tomorrow. sales expected to reach between $1.5 billion and $2 billion, that would be well below last year's total of $2.7 billion. auction items of post war and contemporary art were down in the first half. sellers don't want to risk a decline in prices so sell side is much slower. the middle east likely to be weak. the big question is how the u.s. holds up. the star of the week is going to be this picasso portrait of his mistress, expected to sell for $120 million at sotheby's. they also have a rare self-portrait of bosciat. and christie's has one of monet rare waterlilies estimated at $60 million. if you like wheels more than lilies, the most

bytedance, the parent company of tiktok, is laying off some employees. it's still hiring in san jose for its tiktok app, but a foray into video games didn't go as well and bytedance is limiting exposure. >>> it's the first monday after thanksgiving and a very long time ago people didn't have computers at home, so they would come to work on this day and log into the office computer on brand new services like amazon to buy christmas presents, and you got cyber monday. it was born, retailers ran with it. though an expert tells the "today" show, most of us will actually do our cyber shopping when we get back home from work today. >> in the five hours from 6:00 to 11:00 pst, that's when we see spend velocity take off and we're expecting about $4 billion in spending just between those hours. >> bob redell is out at an amazon facility today, which is no doubt going to be very busy. can you spot your package? a five report from him coming up at 6:30. >>> speaking of shopping, every year i pick a group of gifts, things that i might buy and give this holiday seaso

it requires tiktok and its parent company bytedance to make available all of this information to the chinese government. madam president, we have confronted dangers like this before from china. huawei is a prime example. huawei, another chinese-based corporation, also subject to the laws of china, requiring the sharing of personal information and data. and what did we do? we stood up a sanctions regime that sanctioned huawei and prevented its use here in the united states. and we went further than that. we actually went to our allies and partners and said that we would not corporate with them and offer them security assistance. we're talking about other countries now. we would not corporate with them and offer them security assistance unless they took huawei out of their 5g net wherebies. we should protect the people of this nation. we should be honest about what tiktok actually does and protect them from the relentless spying and surveillance by a foreign government. i want to be clear. i don't like a lot of what american big tech does. i doubt you'll find a harsher critic of big te

. >> laura: remind everyone how much money bytedance, parent company of tiktok is spending in the lobbyingorld. this is staggering. they spent more in first three quarters of 2023 than any prior year, spending 7.4 million in lobbying and eclipsing the 4.9 million it spent on federal lo lobbing in 2022. great to have you tonight. up next, exposing ceasefire phonies. ned ryan and a lot more next. shipstation saves us so much time it makes it really easy and seamless pick an order print everything you need slap the label on ito the box and it's ready to go our cost for shipping, were cut in half just like that go to shipstation/tv and get 2 months free with cirkul, your water is deliciously flavored at the turn of a dial, with zero sugar and zero calories. and cirkul has over 40 flavors, so your water can be as unique as you are. try cirkul. your water, your way. now with even more flavors. available at walmart or drinkcirkul.com. i'm an actor in an ad, who was given 12 seconds to remind you that if you're high, just don't drive. 'cause if you feel different, you drive different. it's illegal

caroline: time for the vc lineup , bytedance has leased space in one of hong kong's most recognizablerapers. people have flocked to hong kong as it promotes itself as a financial hub emerging from the years of covid. the other guy other than three firms want the start us they back to have responsible ai. pledges with benefits and tests to ensure that product safety is among many other things. standards are not binding. collective global, it was a change of how pensions access the innovation economy, a new investment firm co-owned by the california pensions. launching with more than a billion dollars and has exposure to venture capital. ed: in one of the first investments since leaving meta, sheryl sandberg is backing cercle through her new venture capital fund. it uses ai to analyze biomedical economic strata -- biomedical data to improve women's health care. the ceo juan carlos riveiro joins us. with the backing, there is the cash injection, what does the long time backing bringing besides money? >> we are so happy to have the investor like the rest of the investors in cercle. we are

. >>> bytedance will restructure after it failed to gain success over net ease. >>> huawei will morear to a new joint venture with changan auto. >>> ahead, the one word every investor needs to know today and why our next guest says we may be in the final mile in the fight against inflation. that story when we come back afteth bak r isre. ♪ (captivating music) ♪ (♪♪) the first law of thermodynamics states that energy cannot be created or destroyed. (♪♪) but it can be passed on to the next generation. (♪♪) (adventurous music) ♪ ♪ ♪ be ready for any market with a liquid etf. get in and out with dia. >>> welcome back to "worldwide exchange." time for the wex wrap-up. elon musk is set to meet with israeli president herzog. >>> more than 30 states are filing a lawsuit against meta platforms over failing to disabled underage accounts after receiving complaints. >>> openai is moving forward with the planned sale of $86 mil billion valuation. >>> elliott management is recommending changes at crown castle to boost the stake in the company. changes could include nominations for the slate of dir

cftc has been making headlines because of the regulatory crackdown we had on coinbase, on bytedance. you on that? >> i think this shows the commitment u.s. regulators have to policing the sector and make sure we are bringing justice for those victims. the cftc just announced its fiscal year 2023 enforcement results. not only did we have 4.3 billion dollars in penalties, but almost half of the cases we brought were in the crypto sector for fraud, use. clearly the cftc has been taking a very tough stance on cracking down. >> is that tough stance perhaps helping to keep everybody in line? >> i think it has to be a two-pronged approach. on the one hand, it is about separating good actors from bad actors. for those good actors that want to apply, we need to have clear rules of the road. his it's hard to follow rules if you don't know what they are. for bad actors, it is clear what is going on there, so we are bringing these enforcement actions and cracking down. haslinda: should the u.s. be concerned that this is driving crypto players out of the market? >> we need to have a regulatory fr

also, bloomberg has learned that bytedance will unwind products under development and way sales of existing this marks the biggest retreat from a booming gaming industry that was once dominated by tencent. more after the break. this is bloomberg. kriti: if i can leave you with one chart, it is this. is this the time you hop into the stock market? there are couple of logics why you should and should impute i will start with the bear case. we've seen a lot of green on screen. global stocks, not just the u.s., on a four week rally. that's what all of this green is about. if you are a bearish investor going into the holiday season you will save we've already seen some green, maybe people cash out at the end of the year, the month. the bull case is simply that there is very low trading volume and that will be something to watch closely. it could create the indication of a santa rally. the vix hitting very low levels and this could be an easy win if you want to hop into the holiday season. this will be a big story going into the u.k. global investment summit that gets going today. we will renew k

dominant position, they had a dominant position, they have been leaking out some of that business to bytedance, because simply the government, i assume, kind of ordered them to break up their pick one of two strategy, so they don't have that strong arm ability to strong-arm shoppers and merchants to sell on their platform to use them only. obviously, the consumer and merchants are going to fly elsewhere, how do you get them back? duncan: part of this is young consumers. how do you win through the algorithm, which is what they are showing with local tiktok, can alibaba regain some bits of technology edge. the house that jack ma built was because of its edge in logistics, in finance, and a range of products available, they need to have a similar cutting edge again through some new technology, innovation in the product mix. the question is, when they talk about they want to get rid of the -- of the old days and reinstall entrepreneurial vigor, how do they achieve that? they tend to let people go after 35, that's one strategy. i don't to get a happy place right now. rishaad: what is the readthroug

judge ruled the cofounder of bytedance has -- cannot return to his home in the uae.puts on hold a ruling ground team of billionaires earlier request following his guilty plea last week to u.s. criminal charges. this sentencing is due in february. later today we will speak with the former ceo of binance. don't miss that conversation right here at 6:00 p.m. u.k. time. i just want to come back to the u.k. we will look at the consortium data that dropped overnight that shows that inflation is at a 17 month low. the six straight month of declines accompanied by a warning that this may not last. you sign unexpected drop in retail sales last month that suggest the bank of england's policy is hitting stores, which begs the question, when are the rate cuts coming. i'm sure it's a question we will put to the deputy governor of england, the money markets man of the boe when he's right here on bloomberg tv at 8:10 a.m. should be tasty conversation from the economic affairs committee criticizing the boe for being behind the curve on inflation partly because of lack of diversity o

studies that show exactly what tiktok was doing and tiktok is nominally a private company in china, bytedanceist party's propaganda bureau and we see it time after time again and the united states is not willing to take measures to stop this and it's not just amplifying propaganda. it's also illegally taking the data of americans. tiktok has violated every promise it made to the united states about data security. and yet we have not decided to ban it. president trump was right to ban it. president biden was wrong to reverse the ban. maria: yeah. so what do you want to see out of this meeting between xi jinping and joe biden then? what in your view would deem that meeting a success? >> if it didn't take place. unfortunately, we have deferred taking actions against china that are absolutely necessary. because we think we can talk to the chinese which is really what you see in janet yellen's op-ed and what you see from administration officials talking about this meeting that's supposed to take place. so i think it would be in our interest if it didn't take place. xi jinping runs a j jen genocidl

without that control we don't know whether or not or how tiktok and bytedance and ccp could push anti-american propaganda to pit americans against americans and weaken us internally. >> dana: pay attention to all you do this week. >> bill: we have some updates right now with donald trump on the stand. maria is our producer inside the courtroom. here is her first update. she says trump has been on the stand for half an hour. he is very composed but taking jabs at the judge. he has been asked to just answer the questions but is providing lengthy narratives. he has made comments about the judge ruling against him a few times as he has said many times he believes mar-a-lago has been undervalued 50 to 100 times. now kevin wallace is an attorney for the state of new york, all right? and wallace is asking trump these questions. and the judge says to mr. trump's attorney can you control your client? this is not a political rally, this is a courtroom. i have asked the witness several times to answer the questions. maybe you should have a talk with him right now. trump's attorney says sometimes the ques

you do business with bytedance, which happens to be the owner of tiktok, a business that a lot of peoplehink is fundamentally a national security threat to the united states. how do you justify that? >> i was in china, and of course, there's people afraid about you being pro-china and stuff like that. and i said, the chinese know one thing about me. i'm red-blooded, full-throated, free market, pro-capitalist, pro-american. and i salute the american government does and we're talking to them all the time about, what is the right way to deal with national security? it's not shein. but when the government comes up with what they want to do, i'm going to salute, and that's what jpmorgan is going to do, but it's a very complicated subject. every nation has national security interests. ours is semiconductors and, you know, maybe some data, but for europe, it's energy. they are completely reliant on outside parties for their energy. even for china. they import, i think, nine or ten million barrels of oil a day. every country is going to be looking at its own national security interests, so the c

after the holidays and after the new year, but that's not stopping tik tok's parent company, bite bytedancebbying efforts, they've spent more this year than any other year before on lobbying, neil. neil: thank you for that. you know, if i were to tell you at the beginning of this war, six weeks ago, that the markets would be higher by now than they were then, you would probably think i was crazy. once again, the market is chalking up a good week just like the weeks before. why is that? after this. (♪) (♪) (♪) (carolers) ♪ iphone 15 pro, your husband deserves it! ♪ (mom) carolers? to tell me you want a new iphone? a better plan is verizon. (dad) no way they'd take this wreck. (carolers) ♪ yes, they will, in any condition. ♪ ♪ get iphone 15 pro and ipad and apple watch - all on them! ♪ (mom) please forgive him. (carolers) ♪ it's all good - just a little awkward. ♪ (soloist) think we'll wrap this up. (vo) black friday starts now. turn any iphone in any condition into a new iphone 15 pro with titanium and ipad and apple watch se - all on us. that's up to $1700 in value. it's holiday every day,

specific problem with tiktok which is that it is controlled by bytedance, a chinese company that is beholdencommunist party. we have to ask ourselves whether we want the dominant media platform in america because a lot of young kids in america get their news from tiktok not just about dance videos. >> bret: not some kids it's a ton of kids. >> it's a massive amount of kids get their news from tiktok. whether we want that company to be potentially controlled by the chinese communist party. >> bret: where are you on that, congressman. >> to me it's a clear national security risk, the fact that we have been the leading news source for the next generation of americans for the most impressionable minds of our society in the hands of our leading foreign adversary historians will remember that catastrophic, it's national self-sabotage. >> bret: a.p. has misinformation flooding social media among the fabrications users have shared false claims that a top israeli commander had been kidnapped. false video imitating a bbc news report and pushed old unrelated clips of russian vladimir putin with inaccur

. >>> bytedance laying off some employees, actually still hiring in san jose for its tiktok app. but a foray into video games did not go well. reuters, the first to report that. >>> it's the first monday after thanksgiving, and a very, very long time ago people didn't have computers at home, so they would come to work today and log on to brand new services like amazon to buy christmas presents and cyber monday was born, and retailers ran with it. ahead on the "today" show, a look at the numbers. >> the five hours between 6:00 to 11:00 p.m., that's when we see spend velocity take off and we're expecting about $4 billion in spend just between those five hours. >> a tiktok video making the rounds of someone peeking behind the black friday prices at a big box retailer to see how much they're saving, and as you can see, as she pulls out the right, it's the exact same price. i think we suspected that. each year we pick a group of gifts, a bit at random, things that i might buy and give this holiday season. then we track those prices through the season to see if they change. i've got an

now, they claim they're privately and independently owned by a company called bytedance.e's no such thing as privately and independently owned because the chinese government has right of first refusal telling their companies what to do, and woe be unto them, any chinese company that doesn't follow instructions. china is very happy to kind of poison our young people. if you go to china, and look at their tiktok, they put limits on it for their young people. anyone under 18 is limited only to a youth version of tiktok and limited to only 40 minutes a day. but not us, they're giving us our history lessons. >> it's czy how fast things can go in this day and age, right, and "the washington post" interviewed a specialist, an islamist militant af and he said he was frankly quite surprised at the respoeo the letter. he described it as a kinof core doctrinal test of al qaeda and the islamic state terrorist group. he said it's not the letter that's going viral. it's a selective reading of parts of the letter. is that what you think is going on here. why do you think it's caught on

jpmorgan chase, by the way, advises clients including tiktok parent company bytedance and dien monosays business with them. stu. stuart: now, china fashion retailer shein has reportedly applied for an ipo. tyler merit is the chief executive at nine line apparel, and he joins me now. shein is really, really cheap, and people lo it because they want the bargains. why don't you like them? >> i like the former quote. if china was doing something wrong, then banks would leave. well, i don't know when we started tolerating forced labor, but shein is the poster child for forced labor in the apparel market. and it's wreaking havoc on industries in the united states, industries like mine that are very proud to put americans to work, that are very proud to bring manufacturing back to the united states with. and we were on a meet youric rise for -- meteoric rise until this latest administration has decided to not only willfully ignore, but almost placate to china each though it's very well known that the eager -- uighur population, upwards of 4 million muslim slaves, are being used to make iphones

that's an open question though he cited companies like tiktok, bytedance, and fanatic the site you'reright now tells you softbank is in a more liquid position to go on the offensive, something they said they were going to do earlier this year and that they reiterated last night. so, they're more liquid. and arm plays an increasingly important part in that portfolio. it used to be alibaba that softbank could draw down on and stake to make investments or show better profitability. now arm is going to take that role but it's not going to be as lucrative, dom >> when they say they're potentially going to go back on the offensive, what might that look like? >> it's all about artificial intelligence masa sons has been talking about this in years. we haven't seen him in the biggest companies, open end, anthropic. that's hard to get into because of course they're striking these massive deals at mass evaluations with the megacap he's been focused, interestingly, on transportation and logistics as a way to lean into artificial intelligence but like we said, they're going on the offensive so, we

meta which operates facebook and instagram bytedance which operates tiktok and then finally snap, which operates snapchat. now in the 12 months through october, higher restaurant prices drove food prices above overall inflation, even as grocery prices remain relatively low. so for the year, if you're tracking grocery prices rose 2.1%, according to cpi index data that was released tuesday by the bureau of late labor statistics. your visit to tgi fridays are chiles or any other restaurant. menu prices are up 5.4%. and finally, the price of drinking on southwest airlines flights is going up starting today. all liquor on southwest will cost you $9. that's about a $2 increase. beers going arrest. you run you about 7 bucks. one is going to cost you 8 bucks. but southwest promises that all of the other beverages that are non alcoholic coffee, tea water, those are going to remain free. >> joya, thank you very much. >> time now, 7.19, the house overwhelmingly passed a package to prevent a government shutdown, which what happened on friday. lawmakers voted to temporarily fund federal agencies thr

bytedance and tiktok dough h deny it too.oss technology companies, really many other kinds of companies in the united states. i've written about that in my book. i know nikki haley, desantis read that taking their talking points of it you need a president who understands the root cause to address it. lauren: you're crisscrossing the country. you're getting your message out. you're on three events already in iowa today. how is it going? what are you hearing from people on the ground? is there excitement, what's the latest? >> lot of excitement on the ground. we've been up to the fire code last couple events. we had six event yesterday. six more today. lauren: wow. >> one of the things that encourages me being in iowa i get really strong questions from the people who are just on the ground showing up at these town halls. earlier today and yesterday, multiple questions about central bank digital currencies. lauren: no. >> about the future of a.i. and a.i. policy. absolutely. multiple places. not just a one-off. in many cases i g

tiktok owner, bytedance, bought the mountain view based company in 2021, according to reuters.e partly in response to the falling demand for vr headsets. social media platform nextdoor is slashing nearly 200 jobs, which is 25% of its employee base. san francisco based company announced a cutback in the third quarter earnings report. >> it's very 2023 that this is news in today's gma first look, a high school senior is not on social media. here's abc news reporter andrew dymburt in this morning's gma. >> first, look how one teen broke the grip she felt social media had on her. >> i feel like there's just like a huge weight off my shoulders. kate romanowski is like any high school senior who grew up on a steady diet of technology. all i was doing was just using my phone. then switching to my computer, then going back to my phone. and it was so draining. >> but when an app estimated that she'd likely spend seven teen years of her life watching screens, she knew she needed a change. >> after a few days. i think the thing i realized the most is just replacing your social media habit

tiktok owner bytedance bought the mountain view based company in 2021, according to reuters. cuts are partly in response to the falling demand for vr headset. its social media platform, nextdoor is slashing nearly 200 jobs, which is 25% of its employee base. the san francisco based company announced the cutback in a third quarter earnings report. >> but you won't have to wait as long to get your passport. the state department says passport processing times have been reduced for the second time since early october, so now processing will take 7 to 10 weeks, which is down from what it was before 8 to 11 weeks. expedi passport wait times are now down to 3 to 5 weeks. a backlog with processing times of up to 13 weeks captured lawmakers attention earlier this year. ring doorbell cameras have captured. we know all kinds of things, but in this case, a deer did something really. some people say it could be amazing, but it was at the worst possible moment. >> this is so incredible. >> so like really look at what the deer did to two vehicles, almost three. got back up, kept going and b

wall street banks that are thinking about whether they should be trying to underwrite a bytedance ipo they? what are the issues doing something like that given concerns you and others around washington have expressed around that company >> well, look. we do have concerns around the potential issues with privacy and social media, but i'm really not at liberty to discuss the tiktok case in detail. i want to the avoid giving advice to investors. this is a matter that has not yet been resolved. >> turn to the domestic economy. thanksgiving is coming up, and some good news at least that we're hearing in terms of inflation and the price of turkey and what it's going to cost people at home to buy it. to get through thanksgiving has come down, but it is still more expensive than where we were in 2021 how do you think about where we are in this inflation battle >> so i think we're making considerable progress in bringing inflation down, and we saw this clearly in last week's news, 12-month headline inflation is down to 3.2%. that's down almost 6 percentage points from its high but although pri

dings] [inaudible chatter] [keyboard clicking] (♪♪) [card reader chimes] (♪♪) >>> tiktok parent bytedancebs in gaming and wind down the game development brand newverse. they will cancel the product development. chinese gaming rival tencent and netease were up slightly in hong kong trading overnight. >>> alibaba shuts s the quantum computing lab followg the surprise cancellation of the spinoff and listing of the cloud services division. >>> when we come back, congress is back in session today and set to begin work on the funding bills ahead of the deadline in january. we will tell you what's on the docket nt.ex "squawk box" will be right back. >> announcer: executive edge is sponsored by at&t business. next level moments need the next level network. sses move to the cloud. - so, the question is... - cyber attack! as cyber criminals expand their toolkit, we must expand as well. we need to rethink... next level moments, need the next level network. [speaker continues in the background] the network with 24/7 built-in security. chip? at&t business. encore energy, america's clean energy company

they were doing well with bytedance compared to traditional retailers like alibaba and jd.com so we willey can keep up that momentum going forward. rishaad: thank you very much indeed. taking a look at earnings coming out as well. what we have coming up you don't want to miss because we are talking with the chief executive of the hong kong fintech unicorn. launching a bank focused on indonesia. we will dig into that next. ♪ hey! sarah! if you had to choose would you listen to elevator music all day or deal with payroll compliance? payroll compliance, for sure. gusto automatically calculates and files my taxes for me. hold up, compliance? easier? i was on a work trip when choose payroll compliance without the ups and downs. the pulmonary embolism happened. but because i have 23andme, i was aware of that gene. that saved my life. ♪ david: let's talk fintech, you've hong kong fintech launching its second digital bank. they will be targeting what they call a solar entrepreneur segment. joining us to define those concepts out of jakarta is group ceo sam. thank you for coming on the show. firs

we should mention david is a consultant for bytedance which came up in the debates. >> good night, everybody>> why did you exhale so loudly. >> just enjoying the great pageant of democracy, anderson. first of all, this debate is sort of odd because it's like the silver medal round. it's like the gold medal winner has already been declared and this is the silver medal round. and now it's come down really to two candidates, haley and desantis. and you get what you get. this, by the way, being carried out, the same debate, on television in iowa right now. one of them, the whole theory of the case is one will emerge as the trump challenger and everybody is going to fall in behind. the problem is that trump has such a large lead nationally that it just may be meaningless. >> what are they hoping for? some sort of criminal indictment and that somehow they will step into the breach? >> look, trump only really came up in the beginning part of the debate when they were asked directly about him. other than that, to their credit, you many, they were debating amongst themselves about their positions on

gerstner is here, the founder and ceo of altimeter capital, he's made investments in snowflake, bytedancere. >> nice to see you. where do you think interest rates are going? what's the risk-on, risk-off situation? >> well, you know, we've been through a pretty epic journey over the last three years. i think i said about 18 months ago that the new normal is going to look a lot more like the old normal, faster than we think. but we have to get through this process of adjustment. >> what is the old normal? >> so if you think about the period of time for 2010 through 2020, we were roughly at 2.8 on the ten-year. i think we're going back to a period of 3 to 4 on the ten-year, a highly investable period. what people can't deal with is the volatility. right? just think about this, in the last six or seven weeks since july, we have a 25% move in the ten-year, right? and so the nasdaq is down 12% during this period of time, and then of course we've had this run over the course of the last eight days. that's the process of normalization, as people try to get their arms around where is the ten-year