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Release time: 2025-01-21 | Source: Unknown
TikTok is challenging the federal government’s order to shut down its operations in Canada. The company filed in documents in Federal Court in Vancouver on Thursday. The government ordered the dissolution of TikTok’s Canadian business in November after a national security review of the Chinese company behind the social media platform. That means TikTok must "wind down" its operations in Canada, though the app will continue to be available to Canadians. TikTok wants the court to overturn the government’s order and to place a pause on the order while the court hears the case. It is claiming the minister's decision was "unreasonable" and "driven by improper purposes." The review was carried out through the Investment Canada Act, which allows the government to investigate any foreign investment with potential to harm national security. Industry Minister François-Philippe Champagne said in a statement at the time the government was taking action to address "specific national security risks," though it didn’t specify what those risks were. TikTok’s filing says Champagne "failed to engage with TikTok Canada on the purported substance of the concerns that led to the (order.)" The company argues the government ordered "measures that bear no rational connection to the national security risks it identifies." It says the reasons for the order "are unintelligible, fail to reveal a rational chain of analysis and are rife with logical fallacies." The company's law firm, Osler Hoskin & Harcourt LLP, declined to comment, while Champagne’s office did not immediately respond to a request for comment. A TikTok spokesperson said in a statement that the order would "eliminate the jobs and livelihoods of our hundreds of dedicated local employees — who support the community of more than 14 million monthly Canadian users on TikTok, including businesses, advertisers, creators and initiatives developed especially for Canada." This report by The Canadian Press was first published Dec. 10, 2024. Darryl Greer and Anja Karadeglija, The Canadian Pressgstar28.ph 。



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( MENAFN - IANS) Seoul, Dec 25 (IANS) South Korea's central bank said Wednesday it plans to cut its benchmark interest rate further next year due to growing Political uncertainties and other downside risks. In its monetary policy report for 2025, the Bank of Korea (BOK) said it will make additional rate reductions to maintain the moderating pace of growth in inflation, as well as mitigate downside risks to the economy, Yonhap news agency reported. "The BOK will take increased political uncertainties, tougher competition (with global rivals) in (the country's) major industries and expected changes in the global trading markets into account when making rate decisions," the BOK said in the report. The central bank will strengthen its early warning function to avoid any volatility in the financial markets amid uncertainties involving geopolitical risks and economic policies in the new Donald Trump administration, it said. The bank also vowed to implement market stabilisation measures at the right time if needed. Last month, the BOK unexpectedly slashed its policy rate for the second time in a row to help prop up the economy. The bank cut its key rate by 25 basis points to 3 per cent, marking the first back-to-back rate reduction since February 2009, when the country was reeling from the aftermath of the global financial crisis the previous year. In October, it cut the rate by 25 basis points to 3.25 per cent, the first pivot in more than three years. Consumer prices, a key gauge of inflation, slowed to the lowest level in 45 months in October by rising 1.3 per cent from a year earlier, staying below 2 per cent for the second consecutive month. MENAFN24122024000231011071ID1109028853 Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.

TikTok is challenging the federal government’s order to shut down its operations in Canada. The company filed in documents in Federal Court in Vancouver on Thursday. The government ordered the dissolution of TikTok’s Canadian business in November after a national security review of the Chinese company behind the social media platform. That means TikTok must "wind down" its operations in Canada, though the app will continue to be available to Canadians. TikTok wants the court to overturn the government’s order and to place a pause on the order while the court hears the case. It is claiming the minister's decision was "unreasonable" and "driven by improper purposes." The review was carried out through the Investment Canada Act, which allows the government to investigate any foreign investment with potential to harm national security. Industry Minister François-Philippe Champagne said in a statement at the time the government was taking action to address "specific national security risks," though it didn’t specify what those risks were. TikTok’s filing says Champagne "failed to engage with TikTok Canada on the purported substance of the concerns that led to the (order.)" The company argues the government ordered "measures that bear no rational connection to the national security risks it identifies." It says the reasons for the order "are unintelligible, fail to reveal a rational chain of analysis and are rife with logical fallacies." The company's law firm, Osler Hoskin & Harcourt LLP, declined to comment, while Champagne’s office did not immediately respond to a request for comment. A TikTok spokesperson said in a statement that the order would "eliminate the jobs and livelihoods of our hundreds of dedicated local employees — who support the community of more than 14 million monthly Canadian users on TikTok, including businesses, advertisers, creators and initiatives developed especially for Canada." This report by The Canadian Press was first published Dec. 10, 2024. Darryl Greer and Anja Karadeglija, The Canadian Pressgstar28.ph 。



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( MENAFN - IANS) Seoul, Dec 25 (IANS) South Korea's central bank said Wednesday it plans to cut its benchmark interest rate further next year due to growing Political uncertainties and other downside risks. In its monetary policy report for 2025, the Bank of Korea (BOK) said it will make additional rate reductions to maintain the moderating pace of growth in inflation, as well as mitigate downside risks to the economy, Yonhap news agency reported. "The BOK will take increased political uncertainties, tougher competition (with global rivals) in (the country's) major industries and expected changes in the global trading markets into account when making rate decisions," the BOK said in the report. The central bank will strengthen its early warning function to avoid any volatility in the financial markets amid uncertainties involving geopolitical risks and economic policies in the new Donald Trump administration, it said. The bank also vowed to implement market stabilisation measures at the right time if needed. Last month, the BOK unexpectedly slashed its policy rate for the second time in a row to help prop up the economy. The bank cut its key rate by 25 basis points to 3 per cent, marking the first back-to-back rate reduction since February 2009, when the country was reeling from the aftermath of the global financial crisis the previous year. In October, it cut the rate by 25 basis points to 3.25 per cent, the first pivot in more than three years. Consumer prices, a key gauge of inflation, slowed to the lowest level in 45 months in October by rising 1.3 per cent from a year earlier, staying below 2 per cent for the second consecutive month. MENAFN24122024000231011071ID1109028853 Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.

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