Continue to own the majority stake in tictac something President Trump says he does not like were looking into that from the standpoint of buy dance we dont like that ive been just conceptually i can tell you i dont like that. That has not been told to me yet that has been reported but it hasnt been told to me it could be very accurate reporting for a change so if thats the case im not going to be happy with the only this is china which i think it probably is yeah the Chinese Foreign ministry also responded to the latest reports thursday continued to label the situation as unfair. So we urge the u. S. To respect the principles of market economy and fair competition abide by International Economic and trade rules stop politicising normal economic and trade cooperation we can provide an open fair and nondiscriminatory Business Environment for Foreign Companies in the u. S. And joining us now to discuss our boom bust cohost Christine Benz swan and thank you both for being here as always k
A strange twist in all this because remember originally the deal was coming down to either oracle or microsoft then walmart jumped into it and said well well partner up with microsoft will sweeten the deal and it should come to us and then it didnt go into oracle instead so now somehow walmart has jumped off of the microsoft ship and theyre now jumping into this with oracle apparently as you said here in the lead up the c. E. O. Doug mcmillan of walmart is going to get a board seat on to talk as part of this deal and walmart with own an equity stake in the company in fact what the treasury secretary Steven Nugent has said is that u. S. Companies oracle and walmart he claims will together own a combined 50 percent plus of ticket now we dont know that thats true thats just what hes saying but hes saying those to us investors which calling these guys investors is ridiculous right because it does best its almost like highway robbery or like bandits that are jumping into this forced to sell
Coming up this saga in the fight for tick tock continues as china claims it will need to have a say in the oracle deal straight ahead we dive into the ongoing fight for the worlds hottest social media ad and another week another round of u. S. Jobless claims amid the coven 1000 pandemic later on we break down these numbers and the state of u. S. Markets with a packed show today so lets dive right in. And its a strange concept to think about but within the next 24 to 36 hours President Donald Trump will rule on whether social Media Company tick tock will be allowed to continue operating here in the United States in a move that is unprecedented President Trump will decide whether or not to allow take back to deal with oracle to move forward details of the agreement would give oracle a 20 percent ownership stake in tictac and were now learning would give walmart c. E. O. A seat on tick tocks board now the deal would mean that Chinese Company by dance will continue to own the majority stak
Of the year and it appears to be playing out minute by minute microsoft confirmed monday that it is in talks to buy tick tock from Chinese Parent Company bite day its now this of course after u. S. President donald trump announced a plan to ban the app in the United States President Trump spoke about the controversial situation monday afternoon. And. He cant be controlled for security reasons but in china too big too. Invasive and it can be and heres the deal i dont mind if theres microsoft or somebody else a big company the Security Company very very American Company by i set a date of around september 15th at which point its going to be out of business in the United States but of somebody whether its microsoft or somebody else is it going to be interesting i did say that if you buy it. Whatever the price is that goes to whoever owns it because i guess its china essentially but more than anything else i said a very substantial portion of the price is going to have to come into the tre
Anything else i said a very substantial portion of the price is going to have to come into the treasury of the United States because were making it possible for this deal to happen right now they dont have the rights unless we give it to them and the Chinese Foreign ministry for their part respond to their reports early monday calling out the u. S. For hypocrisy and double standards in the move while claiming this is a violation of key principles of the World Trade Organization now for more on this lets go ahead and bring in blue bus cohost ben swan and Cyber Security expert todd shipley who also serves as president of dark intel now ben i want to start off with you here lets kind of it appears that microsoft has about 45 days to get this deal done but doesnt it seem strange for the u. S. Government to ban a company and then turn around and basically force them to sell helping an american tech giant to buy. Yeah i think the whole thing is pretty disgusting i mean as this is all playing