Technology Roundup – YouTube suspends One America News for violating COVID-19 policy, IBM plans to cut 10,000 jobs in Europe ahead of legacy IT spin off

Published on: November 25, 2020
Author: Amy Liu

YouTube suspends One America News for violating COVID-19 policy

YouTube (GOOG, GOOGL) has been criticized for taking a more hands-off approach to election or coronavirus misinformation than Facebook and Twitter, though the platform just suspended One America News Network for promoting a false COVID-19 cure.

While OANN’s channel will stay online, it will be prevented from uploading new videos for a week, and will have to reapply to YouTube’s advertising partner program if it wants to monetize its videos. The channel will also receive one strike under YouTube’s three-strikes policy for termination.

President Trump has been urging his followers to tune into alternative news sources such as OANN and Newsmax that have questioned the outcome of the election, eschewing Fox News (NASDAQ:FOX) since the network called Arizona for Joe Biden.

IBM plans to cut 10,000 jobs in Europe ahead of legacy IT spin off – Bloomberg

Bloomberg sources say IBM (NYSE:IBM) plans to cut about 20% of its workforce in Europe with the largest cuts hitting the U.K. and Germany.

The company reportedly announced the decision during a meeting with European labor representatives earlier this month.

The legacy IT services business will face the most staff cuts. Last month, IBM announced plans to spin out the business into its own publicly traded entity to instead focus on hybrid cloud and AI.

Sources say the job cuts will be completed by H1 2021. IBM expects the tax-free spin off to be completed by the end of next year.

Verizon wins FTC antitrust OK for $6.25B Tracfone acquisition

The Federal Trade Commission has given antitrust clearance to Verizon’s (VZ -0.1%) $6.25B acquisition of Tracfone Wireless from América Móvil (AMX -0.5%).

That will bring the country’s leading prepaid and value mobile provider into the umbrella of the country’s top wireless carrier.

Verizon reached a deal with América Móvil in mid-September, offering $3.125B in cash and $3.125B in stock.

It’s expecting to close the deal in 2021.

Slack stock spikes on report Salesforce has held acquisition talks; CRM dips (updated)

Slack Technologies (NYSE:WORK) has jumped 15.9% and is hitting volatility halts, and Salesforce.com (NYSE:CRM) is -3.1%, after a Dow Jones report that Salesforce has held talks to buy Slack.

That would be Salesforce’s biggest acquisition yet. Slack’s market capitalization is $16.9B.

There’s no guarantee the talks would result in a deal, sources tell DJ, and Salesforce could ultimately settle on a different target.

But any deal is sure to come at some premium and value Slack over $17B – not to mention facing an antitrust look.

TikTok wins weeklong extension of its forced-sale deadline

The limping saga of a deal for U.S. operations of TikTok (BDNCE) shambles on, as the company says it’s been given a one-week extension of the deadline forcing its sale.

The Committee on Foreign Investment in the United States has granted the extension of the deadline, now set for Dec. 4, Bloomberg notes from a court filing.

A deal for Oracle (ORCL -0.3%) and Walmart (WMT +0.3%) to take a minority stake in a new U.S.-centered company running TikTok – which was a high priority for the Trump administration a couple of months ago – has settled into limbo and has little of the White House’s attention lately.

And if things get delayed much further: Fox Business has reported that a Biden administration might not impose a JV deal with Oracle if TikTok can secure user data.

The incoming administration plans to give the deal a thorough review, given Oracle’s links to President Trump, according to the report.

Technology