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Good morning, I’m back to Firstft Asia. In today’s newsletter:
Andreessen Horowitz can join Tiktok Bid
China’s latest military exercises around Taiwan
Indonesia’s new sovereign wealth fund pledges transparency
US Venture Capital Giant Andreessen Horowitz is in discussions to invest in social media platform Tiktok as part of an effort led by Donald Trump to steal management of popular video apps from Chinese owners.
What we know: The group, whose co-founder Marc Andreessen is the vocal supporter of the US President, is in discussions to add new external investments to acquire Tiktok’s Chinese investors. The consultation comes to carve it out of the parent company’s ordinance as part of a bid led by Oracle and other American investors. Andreesen Horowitz was approached when Tiktok’s advisor and the White House tried to add financial fire to the ongoing debate. The company was strongly considering investing, the three said they were familiar with the discussion.
Impending Deadline: Oracle-led bids recently emerged as front runners ahead of the April 5 deadline. Federal law bans US apps unless Beijing-based owners sell their American arms to non-Chinese companies, according to multiple people familiar with the issue.
Trump’s Connection: Mark Andreesen’s close relationship with the Trump administration includes supporting recruiting staff for Elon Musk’s US government’s cost-cutting unit, and Sriram Krishnan, former general partner of Andreesen Horowitz, serves as White House Advisor for Artificial Intelligence.
This is the complete story. Additionally, there is the following technology news:
And here’s the other thing we keep tabs today:
Trump’s “liberation day” tariffs: The US president is planning to announce that he will clean up new tariffs on imported goods, which could spark a 1.4 tonne trade war today. Here’s how the worst-case scenario unfolds:
Economic data: Inflation counts for March come from Singapore, South Korea and Australia.
Benjamin Netanyahu: Israeli Prime Minister visits Hungary and denies an arrest warrant from the International Criminal Court on alleged war crimes in Gaza.
Five more top stories
1. China has launched a massive military and coast guard exercise around Taiwan, the latest round of Beijing’s escalation campaign, to assert its sovereignty claim over the island nation. The two who were explained about the situation said Shandong, a Chinese aircraft carrier, was approaching waters off the coast of Taiwan yesterday, off the coast of 24 coasts. Here’s how Taipei responded:
2. Indonesia said it had acknowledged investors’ concerns about the governance of the $900 million vehicle in assets, as its chief investment officer said it had acknowledged investors’ concerns about the governance of the $900 million vehicle on assets. Danantara, which became one of the world’s largest sovereign wealth funds overnight when it was launched last month, is planning to invest billions of dollars in the priority sector identified by President Prabowo subianto.
3. The US Worker Watch has frozen two cases against Apple after Trump appointed the Technology Group as the lawyer to serve as the agency’s largest legal officer. According to documents seen by the FT, the National Labor Relations Commission filed multiple complaints against iPhone manufacturers last year, claiming it had intervened in an attempt to organize employees, claiming it had intervened in an attempt to organize employees.
4. The EU has a “strong plan to retaliate” against the expected US tariffs today, the European Commission president said. Ursula von der Leyen yesterday told the European Parliament that if Trump imposes “mutual tariffs” on all imports into the US, he is ready to attack exports of services, including people from major high-tech companies.
5. Vehicle sales at BYD in China surged 58% in the first quarter, in contrast to Tesla’s electric vehicle demand expected, just as European consumers avoided the Elon Musk brand. Analysts warned that the figures scheduled to be released today for Tesla’s first quarter sales are likely to show a decline of more than 10%.
Detailed news
Klarna brought “four payments” loans to everything from food to fashion. Now, the New York IPO can be $15 billion. Can Swedish Fintech ultimately silence their doubts “buy now and pay later”?
We’re reading too. . .
The chart of the day
Investors are pouring cash into gold funds at the fastest pace since the Covid-19 pandemic amid growing concerns over the economic impact of Trump’s trade war.
Take a break from the news. . .
Htsi enters Aman Nai Lert Bangkok, a new hotel located in the heart of the Thai capital, paying homage to the man who shaped the modern city.
