On Wednesday, China’s central bank stated an application by a unit of American Express Co (AmEx) had been accepted. The status of the application was revealed in an official social media post from the People’s Bank of China (PBOC). The post did not elaborate on when AmEx can start operations in the country. In November…
On Wednesday, Mercedes-Benz and Zhejiang Geely Holding Group Co Ltd stated, they would each invest $388.77 million (2.7 billion yuan) in a China-based venture to build “premium and intelligent electrified” vehicles under the smart brand. The 50:50 joint venture has already got regulatory approval and will be based in the Chinese coastal city of Ningbo,…
Sources familiar with the matter have disclosed, U.S. chipmaker Nvidia is set to win an unconditional approval from the European Commission over its $6.8 billion acquisition bid to acquire Mellanox Technologies. Known for its powerful graphics chips, Nvidia is looking to boost its data center and artificial intelligence business; acquiring Mellanox will help it better…
Data from the European Commission’s website shows that U.S. chipmaker Nvidia did not offer any concessions to EU antitrust regulators who are examining its $6.8 billion bid to acquire Mellanox Technologies. The European Commission is set to take a decision on Nvidia’s biggest-ever acquisition by December 19. It is to be seen whether the EC…
On Thursday, Australia started an investigation into the potential usage of foreign influence using social media platforms such as WeChat, Facebook, and Twitter. The development comes in the wake of heightened concerns in the country that China is seeking to cast its influence in Canberra’s affairs. In the past, Russia had used social media to…
In a development that underscores deepening legal troubles for Chinese video-sharing app TikTok, a California college student has filed a class-action lawsuit against it alleging that it has transferred private user data to servers in China. The allegations deepen legal troubles for TikTok, owned by Beijing ByteDance Technology Co, in the United States, and comes…
As per a report from the Mail and the Globe, Huawei’s founder Ren Zhengfei stated, the Chinese telecommunication giant wants to boost its factory capacity in Europe to and build 5G equipment there. With these moves, Huawei aims to assuage fears that its equipment could be used by Chinese intelligence for espionage purposes. Huawei also…
On Monday, Paytm, an Indian digital payments company stated it has raised fresh funds totaling to $1 billion from a group of investors which includes existing backers such as SoftBank’s Vision Fund and China’s Ant Financial Services. The funding round saw Paytm being valued at $16 billion. A fresh investment in Paytm by Japan’s SoftBank’s…
On Thursday, Sanjay Mehrotra, the chief executive of American memory chipmaker Micron said, the company’s relationship with China’s Huawei ‘continues to be very good’. Mehrotra made these comments to broadcaster CNN on the sidelines of the Bloomberg New Economy Forum in Beijing.
During a testimony to the U.S. Senate, the FBI said it wished it had taken swifter action with regard to Chinese recruitment of U.S.-based researchers to transfer intellectual property from American laboratories. The admission by John Brown, assistant director of the Counterintelligence Division at the FBI, backed up a Senate subcommittee report which concluded that…
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