Capital One Financial Corp faces potential class-action lawsuit over cyber breach

A lawsuit, seeking class-action status, has been filed in a federal court in Washington, D.C. Following a cyber breach at Capital One Financial Corp, the bank stated it is now facing a potential class-action lawsuit. A lawsuit, filed by Kevin Zosiak, is seeking class-action status was filed in the federal court in Washington, D.C. Zosiak,…

Tokyo Electron to honor U.S. Entity’s List

While market share and profits are key factors in growth, maintaining business relations with the U.S. ie equally if not more important. In a significant development, the world’s third biggest supplier of semiconductor manufacturing equipment, Japan’s Tokyo Electron, stated it will stop supplying its Chinese clients that have been blacklisted by Washington. China is locked…

U.S. could place China’s Hikvision on its Entities List

Hikvision’s audio and video surveillance equipment plays a key role in its mass detention centers, which essentially are concentration camps, which hold more than 1 million ethnic Uighurs and other Muslims. In a move that could significantly impact China’s monitoring of its citizens, the U.S. administration is considering imposing limits to Chinese video surveillance firm…

Instances of forced tech transfers are growing in China: EU business lobby group

The pace of forced tech transfers in exchange for market access is on the rise in China especially in “cutting edge” industries. In a significant development, a European business lobby has disclosed, the number of cases of European firms forced to transfer technology to its Chinese partners are on the rise despite Beijing’s attempt to…

Qualcomm to shutdown its Chinese joint venture on advanced semiconductors

The move is aligned with the Trump Administration’s policy on Beijing vis-a-vis semiconductors. On Friday, as per a report from The Information citing sources who are employees at a joint venture between U.S. smartphone chipmaker Qualcomm Inc and China’s Huaxintong Semiconductor (HXT), the joint venture is set to close by the end of this month.…