On Tuesday, South Korean investment bank Mirae Asset Daewoo Co Ltd stated, it has won a U.S. lawsuit against China’s Anbang Insurance Group. The development comes in the wake of Mirae Asset affiliates scrapping a $5.8 billion deal to buy 15 U.S. hotels from Anbang, which then had filed a lawsuit against the South Korean…
On Thursday, U.S. electric vehicle maker Tesla Inc stated, it has trimmed the starting price for its China-made Model 3 vehicles by nearly 8% to $36,805.21 (249,900 yuan). The development comes in the wake of Tesla receiving subsidies from the Chinese government for its electric vehicles. Earlier the starting price for its Model 3 electric…
Chinese consumers are rushing to purchase Huawei’s smartphone featuring its high-end Kirin chips, fearing that the company’s production of its premium handsets will face punitive curbs by U.S. trade action. According to Huaqiangbei, smartphone vendors in China’s southern city of Shenzhen, are seeing a steady rise in the prices of used and new Huawei phones…
According to sources familiar with the matter at hand, TikTok’s owner, ByteDance has abandoned the sale of TikTok in the U.S. and is instead pursuing a partnership with Oracle Corp in the hope of avoiding a ban and at the same time appease the Chinese government. The development comes in the wake of U.S. officials…
In a significant development, the Trump Administration announced that it will further tighten the screws on Huawei Technologies Co, and crack down on its access to commercially available semiconductors. The development underscores the U.S. Commerce Department’s intent to expand restrictions that were announced in May 2020 which were aimed at preventing the Chinese company from…
In a statement, the Federal Communications Commission (FCC) stated, it is mulling options which include the shutting down the U.S. operations of three state-controlled Chinese telecommunications companies, due to potential national security risks. To this end, the FCC has issued show cause orders to China Unicom Americas, China Telecom Americas, and Pacific Networks Corp along…
On Wednesday, Alibaba Group Holding Ltd backed Chinese electric vehicle (EV) manufacturer Xpeng stated it has raised $400 million from investors including Xiaomi Corp, to fund its growth. The fundraising comes at a time when industry watchers as well as bankers describe as an increasingly tough financing environment for Chinese EV startups who are jostling…
While the Chinese government wants to promote its views on western social media platforms, it has blocked its citizens from accessing Twitter and Facebook in the mainland. On Tuesday, following Facebook and Twitter dismantling China’s state-backed campaign to malign and undermine concerns raised by the citizens of Hong Kong, China said it had a right…
U.S., Secretary of State Mike Pompeo made these comments on live television in an interview on Fox Business Network. With China’s government threatening to restrict the sale of rare earth to the U.S., Secretary of State Mike Pompeo kept up the pressure on Huawei Technologies Co Ltd saying telecom equipment maker takes orders from Beijing.…
The FCC will now shift its focus on existing Chinese carriers including China Unicom and China Telecom Corp. In a significant development, the Federal Communications Commission (FCC), voted unanimously to block China Mobile Ltd’s bid to provide communication services in the United States citing risks of espionage. China Mobile is owned by the Chinese government.…
business-gurus.com 