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Union Pacific Corporation Declares Fourth Quarter 2024 DividendA US federal appeals court has rejected a challenge to the law that prevents popular apps that collect data on Americans from being controlled by a foreign adversary. The decision puts the ongoing operation of social media network TikTok, a subsidiary of China-based ByteDance, at risk. Unless the ruling is reversed on appeal, ByteDance divests, or the White House intervenes, TikTok will be forced to stop operating in the US as soon as January 19, 2025. The President – Biden until January 20, 2025 – has the option to grant a one-time 90-day extension to this deadline. The law at issue, initially known as the Protecting Americans from Foreign Adversary Controlled Applications Act (PFACAA), became part of the foreign assistance package passed in April, after which it was approved by President Biden. It limits foreign adversaries from collecting data through adversary-controlled software applications. It also identifies ByteDance and TikTok by name, while potentially applying to code controlled by other foreign entities. For years, US officials have warned that TikTok has the potential to be used to spy on Americans. In March, then head of NSA Cybersecurity Rob Joyce called TikTok China's "Trojan horse." More recently, US authorities have alleged active data gathering. The US Justice Department in a July court filing accused ByteDance and TikTok of using an internal tool called Lark to allow TikTok employees in the US to communicate with ByteDance engineers in China and provide them with US users' sensitive personal information. ByteDance, incorporated in the Cayman Islands but headquartered in China, challenged the constitutionality of the law in May. "Banning TikTok is so obviously unconstitutional, in fact, that even the act’s sponsors recognized that reality, and therefore have tried mightily to depict the law not as a ban at all, but merely a regulation of TikTok’s ownership," the companies said in their lawsuit [PDF]. On Friday, a three-judge panel for the US Court of Appeals for the District of Columbia Circuit unanimously disagreed, finding the Justice Department's national security argument valid. "The government provides persuasive support for its concerns regarding the threat posed by the PRC [People's Republic of China] in general and through the TikTok platform in particular," the appellate ruling [PDF] says, noting that the objections raised by ByteDance and TikTok are insufficient. "[T]he bottom line is that they fail to overcome the government’s considered judgment and the deference we owe that judgment," the ruling says. ByteDance and TikTok intend to appeal to the US Supreme Court. "The Supreme Court has an established historical record of protecting Americans' right to free speech, and we expect they will do just that on this important constitutional issue," said TikTok spokesperson Michael Hughes in a statement provided to The Register . "Unfortunately, the TikTok ban was conceived and pushed through based upon inaccurate, flawed and hypothetical information, resulting in outright censorship of the American people. The TikTok ban, unless stopped, will silence the voices of over 170 million Americans here in the US and around the world on January 19, 2025." TikTok could get a reprieve from the incoming administration, however. President-elect Trump, during his first term, tried to ban TikTok. But during his recent presidential campaign, he promised to save it, perhaps largely so that Mark Zuckerberg's Meta doesn't get more of a monopoly over US social media. In March this year, Trump, on his own ironically named Truth Social, declared without evidence: "I don't want Facebook, who cheated in the last election, doing better," adding: "They are a true enemy of the people." If ByteDance is forced to divest but no acceptable buyer can be found, Oracle, which provides IT services to TikTok in the US, has warned its revenue could suffer. In a June SEC filing , the database titan said, "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." ®

The New York Medical Cannabis Industry Association (NYMCIA) has filed a lawsuit against the New York Cannabis Control Board (CCB) and the Office of Cannabis Management (OCM) over a $20 million fee for adult-use cannabis licenses. The NYMCIA is asking for the fees to be declared unconstitutional and refund any fees already paid, reported Green Market Report. The lawsuit centers on the argument that the fee is punitive and disproportionately affects the original cannabis operators (Registered Organizations or ROs) who helped launch the state's medical marijuana program in 2014. Under NY’s legalization plan, Marijuana Regulation and Taxation Act (MRTA), a one-time fee was meant to fund social equity programs, but the NYMCIA argues the OCM and CCB set the fee at $20 million without consideration. The association claims the fee is designed to financially burden the ROs and exclude them from the adult-use market. According to them, the financial impact of the fee has been severe and has prohibited many operators from switching to the adult-use market. Read Also: Advocacy Groups Demand Gov. Hochul Appoint New Leadership For NY’s Cannabis Office Only four out of the ten original ROs have been able to make the first $5 million installment payment to transition to adult-use licenses. The rest are left with wholesale-only licenses, limiting their market opportunities. This has also led to closures and reduced hours at medical dispensaries, negatively affecting patients. The lawsuit points to statements from former OCM leaders, such as Chief of Staff Axel Bernabe, who allegedly acknowledged that the intention was to keep ROs out of the adult-use market. The NYMCIA is demanding that the court invalidate the fee and refund any payments made. If successful, the case could have broad implications for the future of cannabis regulation in New York and other states navigating similar issues. Read Next: New Yorkers In A Bind As Top-Shelf Cannabis Supply Falls Short, Could Home Cultivation Help COVER: Photo by Lukas Kloeppel via Pexels © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Crafty ChristmasCentral Park drone show on New Year's Eve canceled after Florida incidentWestbank First Nation Elders, Okanagan College (OC) students, staff, and community members gathered to celebrate the gifting of Syilx Okanagan names for the college's newest student housing complex. Elders Pamela and Grouse Barnes bestowed the names citxw ki snmymyaʔtn, meaning “home for school,” for the building, and sn̓ʔull̓stn, meaning “a place to gather,” for the common area. The KLO Road facility highlights Indigenous culture with features like a feather design by Syilx artist Clint George and story poles by artist Les Louis. “We are continually looking for ways to enhance access to education for Indigenous students and for people from all backgrounds and cultures,” James Coble, dean of students, said. “This is truly a heartwarming addition to our campus housing building, having these names, and having this art in here.” Brent Basil, a first-year Human Services student living in the building, shared his appreciation. “Even though I am not Okanagan, I do feel welcomed by the Okanagan people,” he said. “That means the world to me as I finish up my first semester.” OC President Neil Fassina emphasized the building’s connection to the traditional territory of the Syilx people and the Westbank First Nation. “It features amazing art, and now fortunately features traditional names,” he added. “It's a beautiful testament to the lands we are on and a fitting place that this is authentically a place that students actually call home.” Rhea Dupuis, OC’s director of Indigenous relations and reconciliation noted that the college is committed to honoring the Nations throughout the Okanagan. “Walking together with Indigenous communities toward Truth and Reconciliation is vital as we work to improve access to education for Indigenous learners,” she said. Elder Grouse Barnes, a Syilx Knowledge Keeper, did his best to give the audience a Sylix language lesson, including how to pronounce the building names. “Not bad, there’s a test later,” he joked. The 216-bed student housing facility, which opened in September 2024, provides students with spaces for studying, socializing, and connecting. Amenities include common areas, laundry facilities, and bike storage.

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