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Who's got control of TikTok?
The world's two most powerful men are set to decide.
It's World Business Express from the BBC World Service.
I'm Will Bay.
Also today the scam ticket sellers making thousands on top football matches and the mad rush for the new iPhone in India.
The future of the wildly successful short video app TikTok in the United States is being decided today, potentially on a call between perhaps two unlikely observers.
It's not clear how active either China's President Xi Jinping or US President Donald Trump actually are on the app, but they certainly care a lot about who owns it, what country they're from and, perhaps most crucially of all, who has access to its millions of users' data.
Our tech reporter, Lily Jamali, joins us from San Francisco.
Lily, great to have you on the programme.
Take us back then.
First of all, why the tension over TikTok between the two leaders and what's been going on today?
Sure.
The tension is because the U.S.
Congress last year passed a law that required TikTok's Chinese owner ByteDance, to sell the platform to an American buyer or face a ban here in the US.
That law was upheld by the Supreme Court.
It was supposed to kick in in January.
Then Donald Trump returned to the Oval Office and he has unilaterally extended the deadline multiple times, really on his own, saying again and again that a deal is imminent.
Now it appears that's actually the case.
Yeah well, as you mentioned, the heart of all of this is the algorithm, the data at the middle of it.
And our Asia business correspondent, Suranjana Tiwari, has been explaining how that's seen from a Chinese perspective.
China signalled that it will allow the algorithm to be licensed without being transferred outright.
Experts have told the BBC that could mean a stripped-down version of the software, a lighter, slower version with less diverse content.
A deal will be a win for TikTok's parent company, ByteDance.
It gets to keep its algorithm under wraps.
And rather than be banned, TikTok gets to stay in the US market.
TikTok's parent would also retain the single biggest stake in the app, along with the logo, format and branding.
China can spin the deal as a win as well.
It's exporting Chinese-made technology on its own terms and that might be critical leverage for Beijing in trade negotiations with Washington.
So Surajan are watching closely, Lily watching closely, many users of the app watching closely too, but especially those who've got a stake in it, perhaps around their own business.
People like Jordan Smith.
Jordan runs Elevated Clothing, a fashion brand based in Texas.
It's such a vital, important piece to my business, especially being such a niche business.
I have a clothing brand for tall women and finding those women is like finding a needle in a haystack.
So for me the marketing on TikTok has been so good and I'm finding all of those women in the same place.
I get thousands of views a day on my content, where on other social media platforms, I'm just not getting that.
Honestly, for me, if TikTok goes away right now it's at least 50 percent of my business, if not more.
At this point, and especially going into the fourth quarter, it tends to be even higher.
So for me, it's really vital.
If this goes away, I don't know if my business will continue.
So Lily, I can see coming down on the news wires in front of me here in the studio, China's President Xi saying talks constructive, positive.
When are we likely to know what the outcome might be?
Yeah, we know they spoke this morning, but I'm not sure when we'll find an outcome.
There are so many eager observers here, including content creators and business owners, like the one we just heard from.
They use this platform for their livelihoods.
We're hearing that tech giant Oracle is among a consortium of buyers.
The owner, we should note, is a close friend of Donald Trump's Larry Ellison, the CTO and co-founder, I should say.
But we know they spoke this morning.
Hopefully more news to come.
Yeah, absolutely.
More details to come later on on World Business Report.
Lily, thanks so much.
Now the South African government says it's hopeful a new trade deal can be done with the US too, after talks between those two sides.
It comes after President Trump placed a 30% tariff on South Africa.
And in Germany, the national rail operator has been accused of deliberately cancelling some train journeys in order to try and improve its punctuality figures.
The German magazine Spiegel says, in some cases, empty trains are continuing on the scheduled journey, while passengers have to wait for the next connection.
Deutsche Bahn denies those accusations.
Now.
Demand for tickets to see our favourite concerts or sports teams has surged since the pandemic, and that massive demand has driven a surge too, in ticket reselling.
But with tickets often three or more times expensive than if they've been bought at face value.
Authorities in many countries are trying to clamp down to try and protect fans from being ripped off or buying fake tickets.
Yet here in the UK this week, four BBC reporters were able to buy tickets for top Premier League football matches, often using foreign sites outside the range of UK authorities to do so.
Our sports editor Dan Rowan has more.
With sold-out matches across the country, obtaining Premier League tickets can be difficult.
But last weekend I attended one of the biggest games of the season, the Manchester derby, at the Etihad Stadium, having secured tickets from an unauthorised site.
Well, we're here at the Etihad ahead of the derby.
My ticket has arrived.
It's also accompanied with some very strict instructions not to go in until an hour before kick-off, not to wear away team colours and not to speak to any stadium security staff.
We've heard from fans who say they've bought tickets from such sites only to be turned away at the ground.
Tom Greatrex, the chairman of the Football Supporters Association, told me the problem has now become a crisis.
I think this is something which is becoming endemic across the game for the ability for real fans to be able to get to games and actually the way in which secondary ticket agencies, be they based in the UK or overseas, are being used as a proxy, in many cases to take the game away from fans.
For fans, nothing beats the experience of being there.
But how some now acquire their tickets is coming under greater scrutiny.
That's the BBC's Dan Rowan there.
A little bit more news coming out from that call between Presidents Trump and Xi on TikTok.
President Xi also saying he hopes to provide open, fair environment for Chinese firms.
Hopes to find that in the US, he says.
Let's turn away from that and to markets news this week.
And Randeep Samal, fund manager at MG Investments in London, is with us to look through Randeep.
What's been a big week in terms of borrowing costs, hasn't it, for some of the world's biggest economies?
Where are we at the end of the week?
Leanna set this up a little bit earlier on, but from the Federal Reserve through to the Bank of England.
Sure.
I mean, the Federal Reserve has now finally done their quarter point cut.
That's provided quite a boon to the US markets, which have now reached all times highs and are continuing a very strong path today.
I would say that's probably also supplemented by the current conversation that's ongoing between President Trump and President Xi.
Hopefully there's a breakdown or a finding of mutual respect when it comes to trade.
Any particular sectors doing well?
It seems to be across the board.
Technology is doing well.
Industrials are doing well.
Things that probably would look too strongly if tariffs were to come down.
What else are you looking ahead to next week then?
We're mainly past now all of the earning season.
That's gone through now so it will be driven a little bit more by macro.
A Fed chair has come out recently, or one of the Fed chairs, Neil Kashkari of Minnesota, expecting another two rate rise falls before the year is out.
I think that is providing a bit more solace to US markets as well.
Interest rates, the discussion point for markets, isn't it?
Randeep, thanks so much for your time.
Randeep Samal of M&G Investments there.
Now, I'm not sure if you were on the hunt for a new phone Randy, but if you are, count yourself lucky.
You weren't joining the crowds outside the Apple Store in Mumbai India, on Friday.
Many queued for hours, from the crack of dawn, to try and get their hands on the company's latest iPhone.
And for those who did persevere and make it to the till, they were apparently rewarded with, according to Apple, a better front-facing camera that will make horizontal selfies look better.
Here's some of those lucky customers.
Hello.
The latest model has new features, including upgraded display, a zooming camera and these new colour varieties, particularly the orange, and that's why it's in high demand.
I came to the store at 2am.
This is required for a brand like Apple.
It's brand love.
Well, I think we know what those happy customers are going to be up to this weekend.
Just about it from us.
Thanks so much for listening to World Business Express.
Remember to not miss an episode.
Subscribe to our podcast.
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