The Canadian government has mandated ByteDance to dissolve TikTok’s business operations in Canada by the end of 2024 due to national security concerns related to its Chinese ownership and potential data sharing. While access to TikTok will remain for Canadian users, the government emphasizes cybersecurity awareness and points to risks under China’s National Intelligence Law, which requires companies to cooperate with intelligence efforts. TikTok has pledged to fight this decision in court, citing potential job losses and reaffirming its commitment to creators and businesses on the platform. The move aligns with broader global scrutiny of TikTok and may prompt similar actions by other countries.
Hudson’s Bay Co. to liquidate entire business starting next week
Hudson’s Bay, Canada’s oldest company, is preparing to liquidate its entire business unless it secures last-minute financing. The retailer, which operates 80 stores, including three Saks Fifth Avenue and 13 Saks Off 5th locations, has struggled due to mismanagement,...
0 Comments