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May 20, 2021 Zhang Yiming, the co-founder of ByteDance, will step down at the end of the year as the CEO of the Chinese social media giant behind TikTok’s meteoric rise. Liang Rubo, another co-founder of ByteDance who is currently the head of human resources, will take Zhang’s role. In an internal letter to employees, Zhang said he came to the conclusion that by quitting the CEO role, with all of its day-to-day responsibilities, he can “have greater impact on longer-term initiatives.” Zhang said he will take a new role at the company to focus on long-term strategy, corporate culture, ...

GERARD JULIEN/AFP via Getty Images This story is available exclusively to Insider subscribers. Become an Insider and start reading now. A software issue caused Arizona prison inmates to be stuck behind bars longer than legally allowed. A separate software issue resulted in potentially thousands of inmates wrongly held in max custody. Other software issues have led to fatal outcomes, leading experts to call for increased oversight. It's easy to forget just how much of the modern world is powered by software, from trains and plan...

Government intervention may offend market purists, but simple, specific regulations are far less intrusive than inflexible one-size-fits-all mandates.

ENZO TRIBOUILLARD/AFP via Getty Images Tech companies are facing pressure from all sides: governments, consumers, and their own employees. It's resulting in governments worldwide issuing new regulations or filing landmark lawsuits. Consumers and employees are also putting pressure on tech firms to evaluate their impact on society. The walls are closing in on the tech industry. Governments from Australia to the US are cracking down on big tech companies. Employees are working to form unions at firms like Google and Amazon. And consumers appear to be more distrustf...

...and got them back on track. get started at fastsigns.com. that music means it is time for cnn business. new concerns over the president's trade war with china. good news for travelers ahead of the summer season. cnn's chief business correspondent christine romans is here with that. >> a lot going on. the president and the free wheeling interview with the financial network, he bashed the chamber of commerce, the reserve, automakers. he riffed on for tech regulation and questioned a blockbuster defense merger. just as the president ended one tariff threat with mexico, he renewed another wit...