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Weekly Roundups

TikTok Banned in India and Hong Kong. Could the US Be Next?

By MBN Staff | Thu, 07/09/2020 - 15:16

In the next few days, TikTok will cease to operate in Hong Kong after the new national security law that China enacted for the territory came into effect. "Following recent events, we have decided to end operations of the TikTok application in Hong Kong," said a spokesperson for the social network in an interview for the South China Morning Post, which predicts that the program will no longer be available for download on Apple and Google stores throughout this week.

The Asian country is the second country to ban the famous application of short videos. In late June, the Indian Ministry of Electronics issued a statement announcing that TikTok had been banned in that country claiming security reasons.

Given the possibility that the Chinese government is using the TikTok application to monitor and distribute propaganda, the US government is analyzing restricting access to the Chinese app, said Secretary of State Mike Pompeo in statements to Fox News. Pompeo said that he and Donald Trump "are taking this possibility seriously" after the presenter of the program, Laura Ingraham, recalled that India had already banned the application and Australia is considering doing so.

More news below

  • 2Q20 reports are here and Televisa is one of the first to highlight COVID-19’s impact on corporate development. The Mexican company saw an increase in profit in paid television, internet and landline telephony services but a reduction in its advertising revenue.

  • Uber reached an agreement to buy food-delivery company Postmates for US$2.65 billion through a stock transaction, which will give the ride-hailing company a greater presence in the home-delivery business during the COVID-19 pandemic.

  • In Mexico, it is more important for consumers to have access to loans, says Cristian Huertas, Country Manager in Mexico of Bnext, a Spanish fintech firm offering free digital banking in Mexico. Huertas shares his strategy to conquer the Mexican public in an interview with Mexico Business News.

  • The Inter-American Development Bank (IDB) will invest in two venture capital funds with presence in Mexico and Latin America: DILA Capital, headed by Alejandro Diez Barroso and Eduardo Clavé, and 500 Startups Latam, led by Santiago Zavala and René Lomelí, IDB revealed in a statement.

  • Houm, one of the most disruptive startups and successful housing platforms in Latin America, sees Mexico as its next destination. The company is seeking investment of more than US$1.3 million to enter another country in Latin America to continue growing. Among the candidates are Mexico, Colombia and Peru, explained Benjamin Labra and Nicolás Knockaert, Founders of Houm to Forbes México.

  • Mexico's central bank’s website was subject to a cyber attack Tuesday afternoon. Banxico said that the breach was registered at around 1.30 p.m. and said that the institution's permanent monitoring schemes allowed the defense mechanisms to be activated. 

Photo by:   Mexico Business News
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