WASHINGTON (Reuters) -The administration of U.S. President Donald Trump is working on a plan to save TikTok that involves tapping software company Oracle (NYSE:ORCL) and a group of outside investors to effectively take control of the app’s global operations, National Public Radio reported on Saturday.

Under the deal being negotiated by the White House, TikTok’s China-based owner, ByteDance, would retain a minority stake in the company, but the app’s algorithm, data collection and software updates would be overseen by Oracle, which already provides the foundation of TikTok’s Web infrastructure, NPR reported.

The NPR report cited two people with knowledge of the talks. The White House and Oracle had no immediate comment.

The possible deal reported by NPR would mean that American investors would own a majority stake in TikTok. However, the report added that the terms of the deal could change and are still being hammered out.

“The goal is for Oracle to effectively monitor and provide oversight with what is going on with TikTok,” a person directly involved in the talks but not authorized to speak publicly was quoted as saying by NPR.

“ByteDance wouldn’t completely go away, but it would minimize Chinese ownership.”

Other potential investors who are engaged in the talks include Microsoft (NASDAQ:MSFT), NPR reported.

Officials from Oracle and the White House held a meeting on Friday about a potential deal, and another meeting has been scheduled for next week, NPR reported.

Oracle was interested in a TikTok stake “in the tens of billions,” but the rest of the deal is in flux, the report cited the source as saying.

NPR cited another source as saying that appeasing Congress is seen as a key hurdle by the White House.

By Kenrick Cai

SAN FRANCISCO – Alphabet’s (NASDAQ:GOOGL) Google, already facing an unprecedented regulatory onslaught, is looking to shape public perception and policies on artificial intelligence ahead of a global wave of AI regulation. 

A key priority, one executive told Reuters, comes in building out educational programs to train the workforce on AI. 

“Getting more people and organizations, including governments, familiar with AI and using AI tools, makes for better AI policy and opens up new opportunities – it’s a virtuous cycle,” said Kent Walker, Alphabet’s president of global affairs. 

As Google races to best Big Tech rivals including Microsoft-backed OpenAI and Meta (NASDAQ:META) in the AI arena, it is mindful of the heavy regulatory scrutiny it faces in its existing businesses in advertising and search. 

In the European Union, Google has offered to sell a part of its ad tech business to appease regulators, Reuters reported. In the U.S., the Justice Department is attempting to force a breakup of its Chrome Web browser — though it may shift course under the administration of President Donald Trump.

Meanwhile, governments globally are drafting new regulations on issues that could be exacerbated by AI, such as copyright and privacy. The EU AI Act, which seeks to assess risk and require disclosures from general-purpose AI systems, has received pushback from tech giants that could find themselves in the crosshairs of multibillion-dollar fines.

The DOJ has also sought to curtail Google’s advances in AI as a remedy in a federal case that found its search business to be an illegal monopoly. 

Google executives see an opportunity to shape the narrative around a technology that has stoked emerging fears of mass job loss.

CEO Sundar Pichai announced in September a $120 million investment fund to build AI education programs. Deputies including Walker and Ruth Porat, president and chief investment officer, are increasingly traveling globally to discuss policy recommendations with governments.

“There’s a lot of upside in terms of helping people who may be displaced by this. We do want to focus on that,” Walker said.

Efforts include expanding Grow with Google, a website that teaches workers skills like data analysis or IT support that are meant to expand their career prospects in technical fields. In December, the company said 1 million people had obtained a certificate for the program. It is adding specialized courses related to AI, such as one geared toward  teachers, said program head Lisa Gevelber.

Courses alone are not enough to prepare workers, Walker said. “What really matters is if you have some sort of objective that people are working towards, like a credential that people can use to apply for a job.”

Google wants to increase experimentation on public-private partnerships, he said. The leading example so far, he said, is the “Skilled Trades and Readiness” program, in which the company has partnered with community colleges to train workers for potential jobs constructing data centers. Google is incorporating AI education into the program, he said.

“Ultimately, the federal government will look and see which proofs of concept are playing out – which of the green shoots are taking root,” Walker said. “If we can help fertilize that effort, that’s our role.”

In the long term, Walker said he expects a small fraction of existing jobs to be entirely displaced by AI, citing several studies commissioned by Google, Goldman Sachs and McKinsey. Those studies suggest AI will be incorporated into most jobs in some capacity.

As part of Google’s efforts to prepare for this shift, it hired economist David Autor as a visiting fellow to study the impacts of AI on the workforce. Autor said in an interview that AI could be used to create more immersive training programs, akin to flight simulators.

“The history of adult retraining is not particularly glorious,” he said. “Adults don’t want to go back to class. Classroom training is not going to be the solution to a lot of retraining.”

(Reuters) – Kia America is recalling 80,255 Niro EV, Plug-in Hybrid and Hybrid vehicles in the U.S. as air bags and seat belts that deploy improperly or an air bag deploying unintentionally can increase the risk of injury in a crash, the U.S. National Highway Traffic Safety Administration said on Saturday.

LONDON (Reuters) -British retailer WH Smith is exploring potential strategic options for its UK high street business, including a sale, it said on Saturday after media reports.

The company was holding “secret talks” about the sale of its entire high street arm, which has more than 500 stores, Sky News first reported on Saturday.

Responding to the reports, the group said: “WH Smith confirms that it is exploring potential strategic options for this profitable and cash generative part of the group, including a possible sale.”

The company said there was no certainty that any agreement would be reached, and that it would provide updates on the process “as and when appropriate”.

WH Smith’s high street arm is part of the retailer’s more profitable travel business, which has around 1,200 stores across 32 countries.

“Three-quarters of the group’s revenue and 85% of its trading profit comes from the travel business,” it said.

Investing.com — The debate over whether TikTok will be banned in the United States has reached a critical juncture, with developments raising the stakes for the popular short-video platform. 

The U.S. Supreme Court recently upheld a law requiring TikTok to divest from its Chinese parent company, ByteDance, or face a ban on U.S. operations. 

While this ruling is pivotal, the situation remains highly uncertain due to the complex interplay of legal, political, and corporate factors.

As per analysts at Moffett Nathanson, the odds of a TikTok ban are not as straightforward as they may appear. 

Prediction markets like Polymarket place the likelihood at 80%, reflecting a sentiment driven largely by concerns over national security. 

However, other factors complicate the picture. President-elect Donald Trump has expressed opposition to the measure, potentially signaling a more lenient approach from the incoming administration. 

In December, Trump requested a pause in the law’s implementation to explore alternatives, though this effort was nullified by the Supreme Court ruling.

If a ban were to proceed, its enforcement mechanisms would rely on key players in the tech ecosystem, including app store operators like Apple (NASDAQ:AAPL) and Google (NASDAQ:GOOGL) and internet service providers (ISPs). 

Both Apple and Google are expected to comply by removing TikTok from their platforms, rendering it inaccessible to new users. 

Even for existing users, the app could become inoperable over time as ISPs and service providers cease support for updates and maintenance. 

Reports from ByteDance suggest the company may shut down TikTok’s U.S. operations entirely if the ban is upheld.

Despite these potential outcomes, Moffett Nathanson emphasizes the fluidity of the situation. 

The incoming administration may issue an executive order delaying the ban or even seek to repeal the law altogether. 

TikTok’s executives appear to share this optimism, with confidence that any disruptions could be temporary. This scenario leaves room for the platform to reemerge, potentially after a divestiture or sale.

For competitors like Meta (NASDAQ:META) and YouTube, a TikTok ban could present opportunities. 

Meta’s Instagram Reels and YouTube Shorts are well-positioned to absorb displaced users and advertisers, potentially boosting their revenues by 3-5% and 10-15%, respectively. 

Snapchat, while less equipped with short-form video offerings, could still benefit by capturing some of TikTok’s user base, particularly among younger demographics.

Yet, the initial market reaction to the Supreme Court ruling suggests skepticism about the permanence of a ban. 

Stocks for Meta and Snap fell shortly after the announcement, reflecting broader uncertainty about how long TikTok’s absence would last and whether competitors would meaningfully benefit. This reaction may be a forewarning of the volatility that lies ahead in this unfolding saga.

Investing.com — In a recent report, Bank of America revealed the top 10 stocks most widely held by funds globally, highlighting their dominance in investment portfolios.

The list is led by Taiwan Semiconductor Manufacturing Company (TSMC), held by 95% of the relevant funds. Microsoft (NASDAQ:MSFT) and Arm Holdings ADR (NASDAQ:ARM) share the second spot, with 88% of funds holding these stocks.

Samsung Electronics (KS:005930) follows with 83%, while India’s HDFC Bank Limited (NYSE:HDB) and China’s Tencent Holdings Ltd (HK:0700) each appear in 79% of portfolios.

Rounding out the list are Amazon (NASDAQ:AMZN), NVIDIA (NASDAQ:NVDA), and ASML (AS:ASML), each held by 77% of funds, and Japan’s Keyence (TYO:6861) with a 76% holding rate.

The list demonstrates that the technology sector continues to dominate global investment portfolios.

In 2024, long-only funds significantly increased active exposure to equities, adding $40 billion relative to benchmarks. However, fund managers faced headwinds, as overweight positions underperformed underweights in most regions except the US, where overweights outperformed marginally by 0.2%.

Sector-wise, US Industrials saw the biggest increase in active equity exposure, BofA notes, citing its analysis of 8,400 long-only funds.

US funds also added exposure to Financials “but struggled to increase active exposure to the largest Tech stocks given the substantial index weights of these stocks,” the bank’s strategists led by Nigel Tupper said in the note.

Conversely, in Asia and Emerging Markets, funds reduced their active exposure to Financials while raising their allocations to Tech.

Looking ahead into 2025, BofA’s Triple Momentum analysis indicates a favorable outlook for both Financials and Tech, suggesting these sectors may present compelling opportunities for increased active exposure.

In a separate January Fund Manager Survey (FMS), BofA highlighted strong investor sentiment toward the US dollar and equities, while signaling bearish views on most other asset classes.

The survey indicates that cash allocations have fallen to 3.9%, their lowest point since June 2021. This reduction triggered a second consecutive “sell” signal under BofA’s Cash Rule, a pattern historically linked to weaker equity performance in the months that follow.

A net 41% of fund managers report being overweight equities, though this represents a decline from the three-year peak of 49% recorded in December.

BofA points to a “big January equity rotation from US stocks to Europe,” as exposure to US equities dropped sharply from a net 36% overweight to 19%. At the same time, Eurozone stocks shifted from a net 22% underweight to a 1% overweight, representing the largest monthly increase in Eurozone exposure in 25 years.

The survey also reveals bearish sentiment across other asset classes. Commodities are underweighted by 6% of managers, while 11% are underweight cash, and 20% are underweight bonds.

Investing.com – US corporate credit spreads are tipped to finish the year slightly wider than their recently tight range as inflation and growth ease, according to analysts at UBS.

However, in a note to clients this week, the analysts led by James Martin suggested that President Donald Trump’s plan to impose sweeping tariffs on friends and adversaries alike present the biggest risk to this outlook for credit spreads.

In particular, the harsh levies could lead to potentially “meaningful impairment of corporate profits”, the analysts warned. They estimated company earnings could be dented by over 6% should Trump move ahead with his campaign promise to slap a 60% duty on Chinese imports and a 10% surcharge on the rest of the world.

Since taking office, Trump has stopped short of rolling out such draconian measures, although he has threatened Canada, Mexico, China and the European Union with a possible February 1 deadline before placing tariffs on them.

Should the tariffs come into effect, companies will see heavy margin compression, while the levies could add renewed fuel to inflation and persuade the Federal Reserve to leave interest rates elevated, the analysts flagged.

The comments come after a sell-off in US Treasury yields earlier this month placed pressure on investment-grade rated bonds, which price at a spread premium over their risk-free government debt counterparts.

Although the jump in Treasury yields, which move inversely to prices, has moderated in recent days on a cooler-than-anticipated December inflation reading, corporate credit spreads have been pressurized by elevated investor demand for debt.

Many companies have subsequently rushed to secure funding quickly and avoid a further uptick in borrowing costs, Reuters has reported, quoting analysts. Bankers estimate that between $175 billion to $200 billion will be raised from new bond offerings this month, according to Informa (LON:INF) Global Markets data cited by Reuters.

“The past few weeks have shown the resilience of credit spreads as rates and equities grapple with potentially higher inflation and fewer Fed cuts this year,” the analysts wrote.

“If [the personal consumption expenditures price index, the Fed’s preferred inflation gauge] [[starts] to reaccelerate back towards 3%, we would expect spreads to widen, but stable fundamentals and limited contagion from [commercial real estate] should help keep widening moderate.”

Investing.com — The new year kicked off with another bang for stock market bulls, with the S&P 500 rallying a solid 3.7% month-to-date. Gains were mostly buoyed by what is shaping up to be one of the best earnings seasons on record, with nearly 85% of S&P 500 early reporters surpassing EPS estimates.

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SEOUL (Reuters) – South Korea will release by Monday a preliminary report on last month’s Jeju Air plane crash that killed 179 people, the deadliest air disaster on the nation’s soil, the transport ministry said on Saturday.

One area under investigation is what role a bird strike played in the Dec. 29 crash of flight 7C2216 as it arrived at Muan International Airport from Bangkok, according to a ministry statement.

The report will be sent to the International Civil Aviation Organization as well as the United States, France and Thailand, the ministry said. Seoul has been cooperating with investigators from the U.S. National Transportation Safety Board and France’s Bureau of Enquiry and Analysis for Civil Aviation Safety.

It will take several months to analyse and verify flight data and cockpit voice recordings, which stopped recording four minutes and seven seconds before the crash, and communication recordings with the control tower, the ministry said.

At 08:58:11 a.m., the pilots discussed birds flying under the Boeing (NYSE:BA) 737-800, then declared mayday at 08:58:56, reporting a bird strike while the plane was on a go-around, the statement said. Airport CCTV footage also showed the plane making “contact” with birds during the go-around, it said.

Previously the ministry had said the pilots issued the distress signal due to bird strikes before going around.

The jet crashed at 9:02:57 a.m., slamming into an embankment and bursting into flames that killed everyone aboard except for two crew members in the tail section.

The surveillance footage was taken from too far away to see if there was a spark from the bird strike but it “confirmed the plane making contact with birds, though the exact time is unclear,” a ministry official told Reuters.

Duck feathers and blood were found in both of the plane’s GE Aerospace engines, the ministry said.

The ministry said it would conduct a separate analysis of the role of the concrete embankment that supported navigation antennas called “localisers”. The ministry said on Wednesday that it would remove the embankment, which experts said likely made the disaster more deadly.

By Aditya Kalra

NEW DELHI (Reuters) – India’s Religare Enterprises (NSE:RELG) said a U.S. businessman has made a proposal to acquire a 26% stake in it, the latest twist in the battle for control of the financial services company which has rejected another bid as being priced too low.

The Indian billionaire Burman family, which has founded and controls consumer goods conglomerate Dabur India (NSE:DABU), raised its stake in Religare to nearly 25% in September 2023, triggering a so-called open offer to buy more shares.

Through the open offer process, which starts on Jan. 27, the Burmans plan to buy around 26% more of Religare to bolster their presence in India’s rapidly growing financial services sector, but Religare’s independent directors flagged this week the offer price of 235 rupees per share was too low.

In a stock exchange disclosure late on Friday, Religare shared a letter from U.S. entrepreneur Digvijay “Danny” Gaekwad’s firm requesting permission from Indian market regulator SEBI to make an open offer of 275 rupees per share for the Indian company, a 17% premium to the current offer.

A representative of the Burman family, Mohit Burman, and the market regulator SEBI did not immediately respond to requests for comment on Saturday. Florida-based Gaekwad did not immediately respond to a Reuters’ email seeking comment outside of normal U.S. business hours.

Religare shares closed at 249.40 rupees on Friday, giving it a market value of 81.83 billion rupees ($949.30 million).

The Burmans, if they win control of Religare, will find themselves pitted against other Indian billionaire families in the financial services business, including Mukesh Ambani’s Jio Financial Services and family-controlled Bajaj Finance (NSE:BJFN).

But the Burmans’ Religare bid has faced regulatory and legal challenges.

Earlier this week, Religare disclosed that a minority shareholder had approached the Delhi High Court, and was seeking to stop Burmans’ open offer bid.

Legal papers show that the shareholder holds 500 shares in Religare, and the court on Tuesday issued a notice to Burmans and SEBI and said any subsequent action – such as an open offer – “shall be subject to the outcome” of the lawsuit.

($1 = 86.2000 Indian rupees)