TikTok’s owner ByteDance agrees to settle $92M class-action lawsuit

According to a document filed in the U.S. District Court in Illinois, China’s ByteDance has agreed to settle a $92 million class-action lawsuit from U.S. TikTok users who had alleged data privacy concerns. ByteDance, TikToko’s owner, has agreed to the settlement after more than a year of litigation. “While we disagree with the assertions, rather…

Taiwanese chip producer Foxconn ramps up interest in EVs, announces deal with Fisker Inc

On Thursday, shares of Foxconn rose by 4.5% after the company announced that it will collaborate with Fisker Inc to produce more than 250,000 electric vehicles a year, starting from late 2023. Over the last 1 year, Taiwan based Foxconn has ramped up interest in electric vehicles and has announced deals with Stellantis NV’s Fiat…

SolarWinds hack was the largest and most sophisticated cyber attack to date: Microsoft president

In a statement, Microsoft Corp’s President Brad Smith said, the SolarWinds hacking campaign that used the U.S. tech company as a springboard to compromise many U.S. government agencies is “the largest and most sophisticated attack the world has ever seen”. The hacking campaign, identified in December 2020, was allegedly orchestrated by China and Russia, had…

No specific timetable for review of TikTok and other Chinese tech companies: White House

In a statement the White House said, the Bidden Administration has not set a specific timetable for reviewing TikTok and other issues related to Chinese technology companies; further, the administration is also not undertaking any new proactive new steps now. The development marks a softening of U.S. approach towards China. According to two sources briefed…

General Motors and SAIC Motor Corp file joint anti-monopoly complaint against Tencent

On Tuesday, Chinese smart vehicle supplier Shanghai PATEO stated along with General Motors Co’s local venture with SAIC Motor Corp it has filed a joint complaint against Chinese tech giant Tencent to China’s market regulator. In a statement, PATEO said Tencent abused its dominant messaging app’s market position to restrict sales of its products which…

Trump directs federal agencies to assess security risks from Chinese-made drones

U.S. President Donald Trump has signed an executive order directing U.S agencies to assess security risks linked to Chinese-made drones used by American government fleets, prioritizing their removal. The executive order directs all U.S. agencies to outline the security risks posed to the existing government drone fleet from drones built by Chinese companies or by…

Trump Administration adds China’s Comac and Xiaomi to trade blacklist

The Trump Administration has added nine Chinese companies, including Chinese plane maker Comac and mobile phone maker Xiaomi,  to a trade blacklist which Washington thinks are owned or controlled by the Chinese military. These companies will be subject to a new U.S. investment ban which will compel American investors to divest their holdings of the…

EU companies should prepare for the worst over U.S.-China digital decoupling

In a statement European business groups have said, EU business must “prepare for the worst” over digital decoupling between the U.S. and the Chinese economy, which could significantly impact EU businesses in China. In a statement the European Chamber of Commerce in China and MERICS, a Berlin-based think tank said, U.S.-China political, trade and financial…

NASA scientist pleads guilty to participation in China’s Thousand Talent program

According to a statement from the U.S. Department of Justice, a senior NASA scientist has pleaded guilty to lying about his ties to a program that encourages researchers to develop relationships with China in exchange for grants. Meyya Meyyappan, 66, of Pacifica, California, entered his plea before U.S. District Judge Kevin Castel in Manhattan. According…