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  • 3 Dividend Aristocrats to Buy and Hold Forever
    Motley Fool

    3 Dividend Aristocrats to Buy and Hold Forever

    Just check out the group of stocks known as Dividend Aristocrats. Here are three Dividend Aristocrats that you can buy and hold forever. Abbott Laboratories (NYSE: ABT) has increased its dividend for 48 years in a row.

  • Trump Asks U.S. Court to Allow WeChat Ban to Proceed

    Trump Asks U.S. Court to Allow WeChat Ban to Proceed

    (Bloomberg) -- President Donald Trump asked a San Francisco judge to stay an injunction blocking a ban on Tencent Holdings Ltd.’s WeChat, arguing the Chinese-owned messaging app jeopardizes national security.U.S. Magistrate Judge Laurel Beeler issued the preliminary injunction this week at the behest of users who argued those prohibitions trampled the free-speech rights of millions of Chinese-speaking Americans. The app, which was supposed to disappear from American app stores Sunday, hosted 19 million regular users in the country and more than a billion worldwide.WeChat has emerged as a top target in Trump’s crackdown on China ahead of the November elections. Tensions between Washington and Beijing escalated after his administration waged a campaign that’s also ensnared ByteDance Ltd. and its short-video service TikTok.“The Court’s preliminary injunction permits the continued, unfettered use of WeChat, a mobile application that the Executive Branch has determined constitutes a threat to the national security and foreign policy of the United States,” government lawyers wrote in their filing. It would allow Beijing to “surveil the American people and collect and use vast swaths of personal and proprietary information from American users to advance its own interests.”Read more: Chevron Asks Global Employees to Delete WeChat After Trump BanThe U.S. says WeChat is a threat because Tencent is intertwined with the Chinese Communist Party, which can use the app to disseminate propaganda, track users, and steal their data. It’s a similar argument Washington has used to force a sale of TikTok to American firms Oracle Corp. and Walmart Inc., a mega-deal now awaiting Trump’s and Beijing’s sign-offs.This week, Chevron Corp. became one of the first major American corporations to enforce Trump’s Executive Order ban when it instructed employees worldwide to remove WeChat from work phones.But the judge found the government provided insufficient evidence of a security threat. “While the government has established that China’s activities raise significant national security concerns -- it has put in scant little evidence that its effective ban of WeChat for all U.S. users addresses those concerns,” Judge Beeler wrote.The case is U.S. WeChat Users Alliance v. Trump, 3:20-cv-5910, U.S. District Court, District of Northern California (San Francisco).For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • TikTok Judge Tells U.S. to Delay Ban or Argue for It Friday

    TikTok Judge Tells U.S. to Delay Ban or Argue for It Friday

    (Bloomberg) -- The Trump administration was ordered to postpone a U.S. ban on TikTok set for Sunday or respond by Friday to a request by the app’s Chinese owner for a court order temporarily blocking the ban.The owner, ByteDance Ltd., is seeking a preliminary injunction on the ban even as it continues to pursue approvals from the administration for a sale of the video-sharing app’s U.S. operations to Oracle Corp. and Walmart Inc. forced by President Donald Trump. It has asked the court to weigh its request ahead of the prohibition, which takes effect just before midnight on Sunday.Following a hearing on Thursday, U.S. District Judge Carl Nichols gave the U.S. until 2:30 p.m. Friday to agree to delay its deadline or file court papers opposing ByteDance’s bid for the injunction. Without a delay of the ban, the judge would hold a hearing on the injunction request on Sunday morning.The U.S. argued against an expedited schedule in the case, saying ByteDance had filed a separate suit more than a month ago and was late in requesting the injunction in this one.“TikTok is allowed to continue operating with respect to existing users but cannot add users, and the reason for that is that there are significant national security risks” Assistant U.S. Attorney Daniel Schwei told the judge.Read More: TikTok Pushes Back on Trump in Court While Angling for DealBoth TikTok and WeChat, which is owned by China’s Tencent Holdings Ltd., have been labeled national security threats by the Trump administration, which is seeking to stop their use in the U.S. -- or, in TikTok’s case, force a sale to U.S. companies -- on the grounds they could allow China’s government to gain access to personal data from millions of Americans. The TikTok ban, proclaimed in an Aug. 6 executive order by the president, is part of a wider effort by the administration to take a hard line against Beijing, betting that a tough approach will help win the president re-election.The ban on TikTok, effective at 11:59 p.m. on Sept. 27, would mean removing it from the app stores run by Apple Inc. and Google’s Android, the most widely used marketplaces for downloadable apps, so people who don’t yet have the app wouldn’t be able to get it. Those who already have it wouldn’t have access to updates needed to ensure its safe and smooth operation. Over time, it would become useless.John Hall, a lawyer for TikTok, told the judge the company sought relief as soon as it was allowed to under the law and that the government would have argued it was premature if filed earlier.Hall said the looming ban was affecting the company’s reputation with users, who are considering moving to less attractive platforms. In the social media industry, Hall said, “users retained is absolutely the lifeblood of their business.” He argued that the ban would increase risks to existing users by preventing them from getting regular security updates.“The urgency of this is created by the Sunday night ban,” Hall said. “That part of it makes absolutely no sense to us.”The case is TikTok Inc. v. Trump, 20-cv-2658, U.S. District Court, District of Columbia (Washington).(Updates with arguments of government and TikTok starting in fifth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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