TikTok Sues US Government Over Divest-or-Ban Law; Disney Reports Shrinking TV Business, Shares Tumble | Business Matters Full Broadcast (May 7)

TikTok sued on Tuesday to block a new law that requires the sale of the app from its Chinese parent company or its ban from app stores and web-hosting services.

A new report shows that the Social Security system’s main trust fund will be depleted by 2035—one year later than a prior estimate, though concerns remain about the fund’s solvency.

Walt Disney’s surprise profit in its streaming entertainment division was eclipsed by a drop in its traditional TV business and weaker box office, sending its stock tumbling 10 percent, on track for its deepest one-day drop in 17 months.