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Software giant Oracle warned investors that a US ban of TikTok will likely damage its bottom line if it takes effect.

In April, Congress passed a bill that would require TikToks Beijing-based parent ByteDance to divest from the app entirely within 12 months or face a total US ban.

Oracle, co-founded and chaired by billionaire tech executive Larry Ellison, said the law will make it unlawful to provide internet hosting services to TikTok, Oracle said in its annual report published Monday.

If we are unable to provide those services to TikTok, and if we cannot redeploy that capacity in a timely manner, our revenues and profits would be adversely impacted, Oracle said in the report.

Compliance with these laws may increase our expenses as we engage specialized or other additional resources to assist us with our compliance efforts, the company added.

Oracle provides cloud infrastructure support for TikTok. The firm partnered with TikTok on a data security initiative called Project Texas as part of a failed effort to dispel Congresss concerns about the security of US user data.

The TikTok partnership may contribute anywhere from $480 million to $800 million in annual revenue for Oracle, according to estimates from Evercore ISI analyst Kirk Materne cited by Bloomberg.

Oracle shares were flat in Tuesday morning trading. The stock is up more than 33% since the start of the year.

Oracle came close to buying TikTok as part of a joint bid with Walmart during a previous attempt by the Trump administration to ban the app in the US. The talks were scuttled in 2021.

As The Post has reported, Oracle is seen as a logical candidate to acquire TikTok this time around if ByteDance is eventually forced to divest. So far, Oracle has yet to comment on whether it would be interested in such a deal.

TikTok has argued the divestiture bill violates the First Amendment and is a de facto ban on the app.

In its lawsuit, the company argued the 12-month sale timeline is simply not possible: not commercially, not technologically, not legally.

The company has said it has no plans to seek a sale, even if it were possible.

Meanwhile, former US Treasury Secretary Steven Mnuchin is among those who have expressed interest in buying TikTok. Mnuchin has been pitching potential partners on a plan to rebuild the app’s recommendation algorithm from scratch in the US.

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World

US ‘doesn’t have high expectations’ for Ukraine-Russia negotiations, Marco Rubio admits

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US 'doesn't have high expectations' for Ukraine-Russia negotiations, Marco Rubio admits

The United States “doesn’t have high expectations” for negotiations in Turkey between Russia and Ukraine to end the war, America’s top diplomat has admitted.

US secretary of state Marco Rubio said he did not think there would be a “breakthrough” in discussions until Donald Trump and Vladimir Putin meet to discuss it directly.

Russia and Ukraine are preparing to hold their first direct peace talks in three years, but the negotiations will take place in the aftermath of Mr Putin declining Volodymyr Zelenskyy‘s offer of an in-person meeting.

It came after Mr Putin proposed direct negotiations with Ukraine over the war “without any preconditions” after the “coalition of the willing” countries threatened Russia with fresh sanctions if it failed to take part in a 30-day ceasefire beginning on Monday. In response Mr Zelenskyy had called on Mr Putin to meet him in Istanbul.

Russian President Vladimir Putin chairs a meeting with senior officials. PIc: Reuters
Image:
Russian President Vladimir Putin chairs a meeting with senior officials. PIc: Reuters

Ukraine war latest: Trump teases ‘destination unknown’

The Ukrainian president said he was sending a team headed by his defence minister, from the Turkish capital Ankara to Istanbul, to meet the Ukrainian delegation, though he said Moscow’s team did not include “anyone who actually makes decisions”.

Mr Zelenskyy accused Moscow of not taking efforts to end the conflict seriously by sending a low-level negotiating team he described as “a theatre prop”.

Russian presidential aide Vladimir Medinsky, who is heading Moscow’s delegation, said: “The task of these direct negotiations with Ukraine is to establish long-term peace sooner or later by eliminating the root causes of this conflict.”

He later said he expected Ukraine’s representatives to turn up for the beginning of discussions on Friday morning.

Marco Rubio. Pic: Reuters
Image:
Marco Rubio. Pic: Reuters

Mr Rubio said he will meet Ukraine’s delegation on Friday, adding: “It’s my assessment that I don’t think we’re going to have a breakthrough here until the president [Mr Trump] and President Putin interact directly on this topic.”

The team sent by Russia “does not indicate a breakthrough”, he said, before going on to say: “I hope tomorrow the news says they’ve agreed a ceasefire. But it’s not my assessment.”

He was echoing remarks made by Mr Trump earlier in the day, when he said: “Nothing’s going to happen until Putin and I get together.”

Asked if any plans were under way for a meeting between the US and Russian leaders, Mr Rubio said Mr Trump was going to make a decision once his trip to the Middle East finishes.

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Read more from Sky News:
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What happened last time Putin and Zelenskyy met face to face?

Tens of thousands of soldiers have been killed on both sides in the war since Russia invaded Ukraine in February 2022, along with more than 12,000 Ukrainian civilians, according to the UN.

Russian forces are preparing for a fresh military offensive, Ukrainian government and Western military analysts have warned.

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Sir Keir Starmer accused Mr Putin of “standing in the way of peace”, with the prime minister saying: “There was only one country that started this conflict – that was Russia. That was Putin. There’s only one country now standing in the way of peace – that is Russia, that is Putin.”

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Entertainment

US singer Chris Brown charged with GBH over alleged attack in London

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US singer Chris Brown charged with GBH over alleged attack in London

US singer Chris Brown has been charged with grievous bodily harm with intent in connection with a 2023 incident in London.

He remains in custody and is due to appear at Manchester Magistrates’ Court at 10am this morning, police said.

The charge relates to an assault which reportedly took place at a venue in Hanover Square in Mayfair on Sunday 19 February 2023.

The 36-year-old was arrested at a hotel in Manchester in the early hours of Thursday by detectives from the Metropolitan Police.

The Sun has reported that the R&B singer flew into Manchester Airport on a private jet on Wednesday afternoon.

Adele Kelly, the deputy chief crown prosecutor for CPS London North, said: “We have authorised the Metropolitan Police to charge Chris Brown with one count of grievous bodily harm, contrary to section 18 of the Offences Against the Person Act 1861.

“The alleged incident occurred in London on 19 February 2023.

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“He will have his first court appearance on Friday 16 May at Manchester Magistrates’ Court.

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“The Crown Prosecution Service reminds all concerned that criminal proceedings against this defendant are active and that he has the right to a fair trial.

“It is extremely important that there should be no reporting, commentary or sharing of information online which could in any way prejudice these proceedings.”

The Go Crazy singer is set to tour the UK in June and July, with dates at Co-Op Live in Manchester and Principality Stadium in Cardiff.

His representatives have been contacted for comment.

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Environment

India’s Waaree to double its solar module output at its Texas factory [update]

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India's Waaree to double its solar module output at its Texas factory [update]

India’s Waaree Energies doubled Texas production in April to counter US solar tariffs – now it’s investing hundreds of millions more.

May 15, 2025: Waaree Solar Americas, a wholly owned subsidiary of Waaree Energies, has announced that it will invest an additional $200 million in battery energy storage. This raises Waaree’s total US solar and storage investment to $1.2 billion.

This expansion is expected to create 300 to 500 jobs over the next few years, adding to the 1,500 jobs it already announced.

Dr. Amit Paithankar, whole-time director and CEO of Waaree Energies, said that “our decision to invest was primarily driven by the significant market potential in the energy sector.”

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Despite tariff headwinds, Waaree is doubling down on its US expansion, drawn by the country’s massive energy demand and the surge in AI and data center development, both of which require steady, large-scale power. The company points out that solar is the “cheapest source of power and the fastest to commission,” making it a smart choice for scaling quickly.


April 16, 2025: It’s adding another 1.6 gigawatts (GW) of solar module manufacturing capacity at its Brookshire factory, bringing the site’s total to 3.2 GW. The company didn’t indicate a timescale for when the capacity increase would be complete. The move is part of its strategy to reinforce its “larger strategy of de-risking its global footprint.”

The company first announced it would open the Texas factory in December 2023, its first footprint in the US. Its original plan was to have an initial capacity to manufacture 3 GW of solar modules annually by the end of 2024. 

Waaree plans to invest up to $1 billion to scale its annual solar panel production to 5 GW in Texas by 2027, which would make it one of the largest solar panel factories in the US.

Previous to manufacturing in Texas, the Mumbai-headquartered company, which is India’s largest solar module manufacturer, already supplied Indian-made solar panels to the US. But the US’s new reciprocal tariff on solar modules imported from India is 26%, adding to the existing 14.5% Section 201 tariff, bringing the total to around 40%. 

“At a time when the world is redefining the rules of global trade, we’re not waiting for the dust to settle – we’re building through it. … The strength of our US order book is a testament to the trust we’ve built, and this expansion is a signal – we’re here, we’re growing, and we’re deeply invested in powering America’s energy future,” said Dr. Amit Paithankar, whole-time director and CEO of Waaree Energies.

Read more: Texas just shot its wind + solar boom in the foot on purpose


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