US and China reach deal to keep TikTok running

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• 00:00

  Seems like a last-minute deal has just saved TikTok in the U.S.

• 00:04

  It's World Business Express from the BBC World Service.

• 00:07

  I'm Liana Byrne.

• 00:10

  Also,

• 00:11

  the Pope has called out soaring CEO pay and billion-dollar craze LaBoubou may have reached its peak.

• 00:22

  We've been waiting for this news, the fate of the beloved app TikTok.

• 00:27

  It might be known for its dancing and recipes,

• 00:29

  but the app was very much at the heart of US-China tensions.

• 00:34

  Earlier this year, the state said it would ban TikTok unless it was sold to an American company.

• 00:39

  And after a lot of back and forth and plenty of missed deadlines, a framework deal has been reached.

• 00:45

  We're still to hear all the details,

• 00:47

  and the final say is expected when Donald Trump and Xi Jinping speak later this week.

• 00:52

  Shaofei Xu from the South China Morning Post, who's at those talks in Madrid,

• 00:57

  says this is a big sigh of relief for both sides.

• 01:00

  I think so.

• 01:01

  I think a good sign that this is somewhat welcomed by both sides is the fact that when the Chinese chief negotiator,

• 01:10

  Vice Premier He Li Feng, left the venue, He waved at journalists, he smiled.

• 01:16

  You do get the sense that he is somewhat relaxed.

• 01:20

  And then the context here is that we started the day with some kind of strong words from Besant,

• 01:26

  telling journalists before he entered the building that the US at present,

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