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TikToks U.S. operations would be controlled by an investor consortium including Oracle, Silver Lake, and Andreessen Horowitz, under a framework the U.S. and China are finalizing, The Wall Street Journal reported on Tuesday, citing people familiar with the matter. A new company will be created to operate TikTok, with U.S. investors holding a roughly 80% stake and Chinese shareholders owning the rest, the report said. The company would also have an American-dominated board, with one member designated by the U.S. government. Current users of the app will be asked to shift to a new app, which TikTok has built and is testing, the newspaper reported. Reuters had reported in July that TikTok was preparing to launch a stand-alone app for U.S. users, which was expected to operate on a separate algorithm and data system from its global app. Oracle would handle user data at its facilities in Texas, The Wall Street Journal said, adding that while the U.S. and China are still working on the details of the potential deal, the terms may change. TikTok, Oracle, Silver Lake, and Andreessen Horowitzthe latter also known as “a16z”did not immediately respond to Reuters requests for comments. U.S. President Donald Trump on Tuesday signed an executive order delaying the enforcement of a 2024 law requiring the divestiture of Chinese ownership of TikTok until December 16. Earlier in the day, he also announced an agreement between the U.S. and China to keep TikTok operating in the United States. By Juby Babu, Reuters
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E-Commerce
After more than a decade of steady improvement, the average Americans credit score fell for the second year in a row. Falling credit scores are just the latest sign that all is not well within the U.S. economy. According to a new report from the Fair Isaac Corp. (FICO), creator of the gold standard credit score used by most lenders, the average FICO score dropped to 715 between 2024 and 2025a two-point decrease and the biggest drop since 2009. The data also shows that compared with 2021, more Americans are falling into the low and high ends of the credit score range rather than the middle. In 2021, 38% of scores were between 600 and 749; in 2025, that percentage is 33.8%. The highest FICO score is 850. U.S. borrowers continue to grapple with high interest rates, a side effect of the Federal Reserves efforts to wrangle the soaring post-pandemic inflation that’s driving high prices. In spite of those effortsand with rate cuts imminentPresident Trumps tariffs are pushing inflation up yet again, making the cost of gas, groceries, clothes, and other essentials even less affordable. The recent K-shaped economy has led to financial stress for some borrowers impacted by affordability concerns stemming from inflation and higher interest rates, while others have benefited from increases in their stock market portfolios and home price appreciation, the FICO report states. That data reflects Americas wealth gap, wherein the rich get richer and the poor get poorer, hollowing out the middle class in the process. Americas two very different realities Members of Gen Z, relatively early in their credit journeys, saw the biggest credit score decrease, dropping three points in 2025. The decrease is the most notable among any age group in this years report, but also the largest drop for any age group since 2020. Falling credit scores among young people are linked to resumed student loan delinquency reporting, which reappeared on credit reports in February for the first time since the Coronavirus Aid, Relief, and Economic Security (CARES) Act was passed in March 2020. While only 17% of the broader U.S. population is still paying down a student loan, that percentage is 34% for Gen Z. Its no surprise then that 14% of Gen Zers had a 50-point score drop in the last year, with late student loan payments hitting their credit reports for the first time. Earlier this year, the Education Department warned student loan borrowers behind on their payments that their wages would be garnished. American taxpayers will no longer be forced to serve as collateral for irresponsible student loan policies, Education Secretary Linda McMahon said in April. Younger people are less likely to hold investments in the stock market, leaving them out in the cold when it comes to recent market gains. Between higher prices on everyday goods and high interest rates, many Americans are stuck navigating a uniquely challenging economy, even as wealthy investors continue to reap market wins. For people in the U.S distant from the stock markets highs, the economy is starting to feel like America during a very different eraa malaise backed by the new data. Delinquency rates on auto loans, credit cards, and personal loans are at or near their highest levels since 2009, during the Great Recessionand are more consistent with an economy in recession than one still in expansion, the FICO report states.
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E-Commerce
The Food and Drug Administration (FDA) expanded its warning to consumers and retailers not to use or sell certain imported cookware that may leach significant levels of lead into your food. The list of cookware has grown from the FDA’s initial alert in August, issued after tests showed some types of imported cookware made from brass, aluminum, and aluminum alloys (known as Hindalium/Hindolium or Indalium/Indolium) had leached into food when used for cooking, making food unsafe. On Friday, three additional cookware products used for cooking or food storage were added to the list. The FDA investigation remains ongoing as it continues to collect and sample cookware, and the agency said other products may also be affected. It will continue to update the public. Here’s what to know. Why is lead dangerous? As Fast Company previously reported back in August, lead is toxic for humans. Even low levels can cause serious health problems. Certain groups, such as children, women of childbearing age, and those who are breastfeeding may be at higher risk after eating food from cookware leaching lead. Babies and kids are more susceptible to lead toxicity due to their smaller body size, metabolism, and rapid growth. Which cookware is listed in the expanded warning? The original August 13 recall warning was issued for Saraswati Strips Pvt. Ltd., an Indian aluminum cookware company that sells Tiger White brand cookware. Because the FDA could not “identify and contact the distributor or responsible party to facilitate a recall,” this product may still be sold in retail stores. On Friday, September 12, three additional products were added to the list, including Silver Horse cookware distributed by Patel Brothers, and JK Vallabhdas products distributed by Indian supermarket chain INDIACO. The original product warning details are as follows: Brand and product name: Pure Aluminium Utensils, Tiger White, RTM No. 2608606, an ISO 9001:2015 certified company Retailer: Mannan Supermarket, 166-11 Hillside Ave., 1st Floor, Jamaica, NY Manufacturer: Saraswati Strips Pvt. Ltd., India Recall status: The FDA was unable to identify the distributor responsible for effectuating a recall. Here are the details for the three additional products: Brand and product name: Aluminium Mathar Kadai 26, Silver Horse, 7 6554273084 5 Retailer: Patel Brothers, 830 W. Golf Rd., Schaumburg, IL Manufacturer: Goyal Group Inc., 179 Express St., Plainview, NY Recall status: Distributor notification in progress Brand and product name: Aluminium Milk Pan 4, Silver Horse, 7 6554272863 7 Retailer: Patel Brothers, 830 W. Golf Rd., Schaumburg, IL Manufacturer: Goyal Group Inc., 179 Express St., Plainview, NY Recall status: Distributor notification in progress Brand and product name: Aluminium Kadai India Bazaar, JK Vallabhdas, #3 2000000772 Retailer: INDIACO, 15 Golf Ctr., #17, Hoffman Estates, IL Manufacturer: Grain Market LLC, 12626 International Pkwy., Dallas, TX Recall status: Distributor notification in progress FDA recommendations Consumers should check their homes for the products and throw away the cookware. Do not donate or refurbish it. Consumers who are concerned they may have been exposed to lead or elevated levels of lead should contact their healthcare provider. Retailers and distributors are encouraged to consult with the FDA regarding the safety and regulatory status of any products used in contact with food that they market or distribute. Additional questions can be sent to the FDA via email at premarkt@fda.hhs.gov.
Category:
E-Commerce
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