The United States is ‘looking at’ banning TikTok

Hong Kong/Washington (CNN Business)The United States is “looking at” banning Chinese social media apps, including TikTok, Secretary of State Mike Pompeo said Monday.

Pompeo suggested the possible move during an interview with Fox News’ Laura Ingraham, adding that “we’re taking this very seriously.”
Pompeo was asked by Ingraham whether the United States should be considering a ban on Chinese social media apps, “especially TikTok.”
“With respect to Chinese apps on people’s cell phones, I can assure you the United States will get this one right too, Laura,” he said. “I don’t want to get out in front of the President [Donald Trump], but it’s something we’re looking at.”

China is investing billions in chipmaking to close the gap with its global rivals

Hong Kong (CNN Business)China’s largest semiconductor maker could raise as much as $7.5 billion this year by listing its stock in Shanghai — a move that could deliver the Chinese mainland its largest share sale in a decade, and reduce the country’s reliance on foreign chips.

Semiconductor Manufacturing International Corporation (SMIC), which already trades in Hong Kong, said in a stock exchange filing last week that it wants to raise at least $6.6 billion. The bigger number would be hit if the company exercises an “over-allotment option” and issues additional shares in response to strong demand from investors.