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TikTok gets another lifeline as Trump delays the app’s divest-or-ban deadline — again

President Trump delayed TikTok’s breakup deadline for another 75 days on Friday, giving the viral video app over two months to split from Chinese parent ByteDance or get banned in the US. The app had been staring down a Saturday deadline to hammer out a deal.

It’s the second delay this year, after the Supreme Court unanimously upheld the law in January. ByteDance, which had stayed quiet until now, acknowledged it’s been in talks with Washington. Behind the scenes, contenders including Blackstone, Oracle, and Amazon have all been linked to potential bids for the app.

“There are key matters to be resolved,” a ByteDance spokesperson said, noting that any deal will still need a green light from China.

It’s the second delay this year, after the Supreme Court unanimously upheld the law in January. ByteDance, which had stayed quiet until now, acknowledged it’s been in talks with Washington. Behind the scenes, contenders including Blackstone, Oracle, and Amazon have all been linked to potential bids for the app.

“There are key matters to be resolved,” a ByteDance spokesperson said, noting that any deal will still need a green light from China.

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Lucid climbs after Uber revealed to be its second-largest shareholder following recent investment

Shares of luxury EV maker Lucid are up more than 7% in premarket trading on Tuesday, following the release of a regulatory filing that revealed Uber is now its second-largest shareholder, trailing only Saudi Arabia’s PIF sovereign wealth fund.

The news follows an announcement earlier this month that Uber and Lucid would expand their robotaxi partnership from 20,000 planned vehicles to 35,000. Along with the expansion, Uber also said it would invest an additional $200 million into the EV maker.

Per Monday afternoon’s filing, it seems that investment pushed Uber’s ownership stake in Lucid to 11.52%.

Lucid’s stock is down 29% in April. It hit an all-time low of $6.75 on Monday ahead of the regulatory filing becoming public.

In a mark of just how painful the slide has been for Lucid shareholders, as of Monday, the company’s market cap had dropped to a quarter of the approximately $9.5 billion that Saudi Arabia’s PIF has sunk into it.

Capsule Pill and Dots

Justice Department accuses telehealth Zealthy of fraud, says remedy may bankrupt it

The feds say they don’t think Zealthy has the liquidity to pay what it owes customers.

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