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  • Politics
    Bloomberg

    TikTok Faces Washington Reckoning as Divest-or-Ban Vote Nears

    (Bloomberg) -- TikTok is heading to its moment of truth in Washington, with Congress on a fast track to approve a bill aimed at forcing the social-media platform’s Chinese parent ByteDance Ltd. to divest its controversial ownership stake.Most Read from BloombergDubai Grinds to Standstill as Cloud Seeding Worsens FloodingTesla Asks Investors to Approve Musk’s $56 Billion Pay AgainRed Lobster Considers Bankruptcy to Deal With Leases and Labor CostsElon Wants His Money BackBankers Hit With Millions

  • Business
    Bloomberg

    Micron Poised to Get Over $6 Billion in Chips Grants in Announcement Next Week

    (Bloomberg) -- Micron Technology Inc., the largest US maker of computer-memory chips, is poised to get more than $6 billion in grants from the Commerce Department to help pay for domestic factory projects, part of an effort to bring semiconductor production back to American soil. Most Read from BloombergDubai Grinds to Standstill as Cloud Seeding Worsens FloodingTesla Asks Investors to Approve Musk’s $56 Billion Pay AgainRed Lobster Considers Bankruptcy to Deal With Leases and Labor CostsBankers

  • Business
    TechCrunch

    Consumer Financial Protection Bureau fines BloomTech for false claims

    The U.S. Consumer Financial Protection Bureau (CFPB) said in an order on Tuesday that BloomTech, the for-profit coding bootcamp previously known as the Lambda School, deceived students about the cost of loans, made false claims about graduates’ hiring rates and engaged in illegal lending masked as "income sharing" agreements with high fees. The order marks the end of the CFPB's investigation into BloomTech's practices and the start of the agency's penalties on the organization. The CFPB is permanently banning BloomTech from consumer lending activities and its CEO, Austen Allred, from student lending for a period of 10 years.