All articles tagged with #steven mnuchin
Donald Trump criticized his former Treasury Secretary Steven Mnuchin for persuading him to appoint Jerome Powell as Federal Reserve Chair, blaming Powell for not lowering interest rates and calling for potential legal action over Fed building costs, amid ongoing dissatisfaction with Powell's monetary policy decisions.
Sen. Ron Wyden criticized former Treasury Secretary Steven Mnuchin's bid to buy TikTok, citing concerns about his ties to money from the Middle East, particularly from Saudi Arabia and other Gulf states. Mnuchin's effort to assemble a group of investors to buy the platform comes after the House passed a bill forcing its sale within six months. Wyden expressed concerns about potential national security risks if the next owner of TikTok has ties to Saudi Arabia, and raised questions about Mnuchin's fundraising activities during his time in government.
Former Treasury Secretary Steven Mnuchin's interest in acquiring TikTok and leading a $1 billion investment in a struggling New York bank aligns with his background in finance, media, and turning around troubled institutions. However, his dealmaking raises concerns about ethics, as critics worry about potential conflicts of interest. Mnuchin's career has been marked by controversial moves, including his involvement with OneWest Bank's foreclosure practices and his post-government business dealings with government-controlled investment funds in the Middle East. Despite criticism, Mnuchin continues to explore opportunities in distressed banking and potential investments, leveraging his experience and access to capital.
Former Treasury Secretary Steven Mnuchin's interest in acquiring TikTok and leading a $1 billion investment in a struggling New York bank aligns with his background in finance, media, and turning around troubled institutions. However, critics raise concerns about potential conflicts of interest and ethical implications, especially given Mnuchin's post-government business dealings with government-controlled investment funds in the Middle East. Mnuchin's history with distressed-property investments, including the acquisition of IndyMac, has drawn scrutiny, particularly regarding foreclosures during his tenure at OneWest Bank. Despite controversies, Mnuchin continues to explore opportunities in distressed banking and potential acquisitions, leveraging his expertise and access to capital.
Former Treasury Secretary Steven Mnuchin announced plans to form an investor group to purchase TikTok amid concerns about its Chinese ownership and national security implications. The House passed a bill that would ban TikTok in the U.S. if its Chinese owner does not sell its stake, prompting Mnuchin's move. The bill now goes to the Senate, where its prospects are uncertain. Mnuchin emphasized the need for U.S. ownership of TikTok and suggested that big tech companies may face antitrust issues in acquiring the platform. The potential sale comes amid ongoing concerns about data security and U.S.-China relations.
Former Treasury Secretary Steven Mnuchin is assembling a group of investors to potentially purchase TikTok, following a House bill that could compel the app's Chinese owners to sell within six months due to national security concerns. Despite Bytedance's insistence that TikTok is not for sale, Mnuchin sees it as a lucrative opportunity. However, the bill's future in the Senate is uncertain, and any potential acquisition would likely face legal and financial challenges.
Former Treasury Secretary Steven Mnuchin is assembling a group of U.S. investors to purchase TikTok, citing the need for the popular social media platform to be owned by American businesses. This comes after the House of Representatives passed a bill requiring TikTok's China-based parent company, ByteDance, to sell it to American interests due to national security concerns. Mnuchin, who previously chaired the Committee on Foreign Investment in the U.S., stated that he had President Trump sign an order for TikTok to be sold and still believes it should be.
Former US Treasury Secretary Steven Mnuchin is considering leading a purchase of TikTok from its Chinese parent company, ByteDance Ltd., following bipartisan efforts to ban the app in the US due to concerns over Chinese government influence. Mnuchin's private investment firm, Liberty Strategic Capital, raised about $2.5 billion in 2021, but he would still need multiple equity investors to join any potential bid for TikTok, which is estimated to be worth $35 billion to $40 billion. Mnuchin believes the Chinese government would support a sale as long as there is no technology transfer, and he envisions remaking the social media app with homegrown technology in the US.
Former Treasury Secretary Steven Mnuchin is assembling an investor group to purchase TikTok amid concerns about its Chinese ownership posing a national security threat. The House passed a bill that would ban the app in the U.S. if its Chinese owner doesn't sell its stake, prompting Mnuchin's move. TikTok denies being a tool of Chinese authorities, but the U.S.-China rivalry has heightened concerns. The bill would require ByteDance to sell TikTok to a U.S.-approved buyer within 180 days. Mnuchin emphasized the need for an independent buyer to avoid antitrust issues, and Trump and his allies oppose the bill, while some Democrats express concerns about singling out one company. This isn't the first time a TikTok sale has been in play, with a previous deal involving Oracle and Walmart falling through in 2020.
Former Treasury Secretary Steven Mnuchin is assembling a team of investors to make a bid to buy TikTok, expressing interest in acquiring the Chinese-owned social media giant despite potential challenges. Mnuchin aims to find a solution where the Chinese government will allow TikTok to be sold without a technology transfer, but faces opposition from China's measures to prevent the sale of sensitive technology. The House recently passed a measure to ban TikTok or force a sale to a US-operated owner, which now heads to the Senate, with President Joe Biden expressing willingness to sign it into law. However, tech analyst Dan Ives sees a 25% chance of the legislation becoming law, with potential buyers including tech giants like Microsoft or Oracle.
China has criticized the US for its efforts to ban TikTok, a popular Chinese-owned video-sharing app, as US Treasury Secretary Steven Mnuchin explores a potential bid for the app. The Trump administration has raised national security concerns about TikTok and has threatened to ban it unless it is sold to a US company. China has accused the US of bullying and urged it to stop politicizing economic issues.
Former US treasury secretary Steven Mnuchin is assembling an investor group to purchase TikTok, following the US House of Representatives passing a bill giving the app's Chinese owner, ByteDance, about six months to divest its US assets or face a ban. Mnuchin expressed support for the legislation and the sale of TikTok, calling it a "great business," while TikTok's CEO stated the company will use legal means to prevent a ban.
Former Treasury Secretary Steven Mnuchin is assembling an investor group to purchase TikTok, following the House of Representatives passing a bill that would require ByteDance to divest the social media platform or face a U.S. ban. Mnuchin emphasized the need for TikTok to be owned by U.S. businesses, citing concerns about Chinese influence. The potential deal's other investors and valuation remain unspecified, and the bill's fate now rests with the Senate, with President Biden indicating willingness to sign it if passed.
New York Community Bancorp Inc. has closed a deal to raise over $1 billion through an equity investment led by Steven Mnuchin's Liberty Strategic Capital, Hudson Bay Capital, and Reverence Capital Partners, with Mnuchin appointed as lead independent director. The troubled commercial real estate lender issued common stock at $2 per share to the investors and plans a minimum reverse stock split of three for one. Former comptroller of the currency Joseph Otting will become CEO, and the company's board will include Mnuchin and two other investors. The completion of the equity raise aims to strengthen the balance sheet and restore investor confidence, despite being dilutive to existing holders.
New York Community Bank, led by a new management team including former Treasury Secretary Steven Mnuchin, announced a $1 billion cash infusion to reassure investors after revealing a 7% drop in deposits and a dividend cut. The bank's shares rose following the announcement, signaling a positive response from the market despite a tumultuous year marked by financial concerns and downgrades. Analysts view the cash injection as a step in the right direction, but caution about ongoing ambiguity in the bank's strategic direction and business mix.