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    Chinese telecom giant Huawei and other firms owned or connected to the Communist Party have provided twenty British universities with tens of millions in funding for research projects, according to a report conducted by Conservative MPs. The China Research Group of Tory backbench MPs reported that leading universities in the UK have accepted at least £40 million in research grants...
    Western business groups said they were “shocked” after China’s government on Thursday passed a law to counter foreign sanctions, describing the move as creating “potentially irreconcilable” problems for foreign companies. The standing committee of China’s legislature, the National People’s Congress (NPC), passed the law Thursday to resist U.S. and E.U. economic pressure over matters like trade and human rights, Reuters...
    (Beijing) China on Thursday passed a new law to counter foreign sanctions in response to growing pressure from the United States and the European Union on trade and human rights. On June 10, 2021 at 12:55 p.m. Since US President Joe Biden expanded the blockade of foreign companies last week, Beijing has accused the...
    China on Thursday praised President Joe Biden’s repeal of former President Donald Trump’s executive orders seeking to ban TikTok and WeChat, calling the move a “positive step.” “We hope that the U.S. will treat Chinese companies fairly and avoid politicizing economic and trade issues,” Commerce Ministry spokesperson Gao Feng said at news briefing Thursday, adding that the move was a “positive...
    VIDEO5:1705:17Apple and other U.S. companies remain under pressure to answer for China's 'repression,' says Sen. Chris CoonsSquawk Box Apple, Cisco and other U.S. companies with deep ties to China are under increasing pressure to address Beijing's "repression of human rights and democracy," one of President Joe Biden's key allies in the Senate said Thursday on CNBC's "Squawk Box." The comments...
    A report published Tuesday by the website the Information accused Apple of partnering with Chinese manufacturers that openly, and illegally, reject individuals from jobs based on race and ethnic background – the same ethnic backgrounds of people they stand accused of exploiting as slaves. Apple conducts a significant percentage of the manufacturing of its products in China through partnerships with...
    Oliver Douliery/Getty Images President Joe Biden on Wednesday signed an executive order reversing his predecessor’s move to ban Chinese smartphone applications including TikTok and WeChat. Former President Donald Trump signed executive orders last year to ban the applications’ parent organizations from transacting with American companies due to concerns over surveillance and their connections to the Chinese government. The move effectively...
    Workers check rolls of sheet aluminum at a factory in Wuhan, China.STR | AFP | Getty Images BEIJING — China's producer price index rose 9% in May from a year ago as commodity prices surged, the National Bureau of Statistics said Wednesday. That marked the fastest increase in production costs since September 2008, when the index rose 9.13%, according to...
    Computer chip with Chinese flag, 3d conceptual illustration. Steven McDowell/Science Photo Library Chinese tech companies are resorting to extreme surveillance to ensure workers stay productive. Many Chinese tech workers pull 12-hour "9-9-6" shifts. They now do so under the gaze of the "Third Eye." Efficiency reports from the "Third Eye" break down how long a worker spends on...
    Sen. Marco Rubio (R-FL) expressed concern Thursday that a Biden administration executive order that changed Trump-era rules on U.S. investment in Chinese companies would give too much authority to a Treasury Department “too closely aligned with Wall Street.” The Biden administration this week issued an executive order that expanded a Trump executive order banning U.S. investment in Chinese companies supporting China’s...
    More On: joe biden Biden’s big FDR-style agenda is already sputtering to a halt Of mice and men: Chinese military helped create ‘humanized’ rodents to test viruses, report claims Biden won’t create presidential commission on Capitol riot Texas governor moves to block facilities for child migrants President Biden has signed an executive order that expands a Trump-era ban on...
    President Joe Biden stuck a blow at Beijing when he signed an executive order on Thursday that bans American investment in Chinese businesses with alleged ties to defense or selling surveillance technology.  The order came because of the 'unusual and extraordinary threats' posed by Chinese surveillance technology against democracy, the administration said. 'This E.O. allows the United States to prohibit –...
    London (CNN Business)From Wall Street to Washington, everyone is waiting for the latest US jobs report.What's happening: The US Labor Department releases data for May on Friday. Economists polled by Refinitiv predict another 650,000 jobs were added to the economy. That would be up sharply from the 266,000 jobs added in April, a shock disappointment that raised questions about the...
    President Joe Biden has nearly doubled the list of Chinese companies whose shares are off-limits to U.S. investors in the latest sign he isn't softening Washington's stance toward Beijing. An executive order issued late Thursday says it aims to "solidify and strengthen" an order signed last year by his predecessor, Donald Trump, by strengthening controls on investments in...
    U.S. President Joe Biden signed an executive order Thursday expanding a Trump-era list of Chinese companies blacklisted for their alleged ties to the country’s military. The executive order listed 59 companies sanctioned for their links to Beijing’s “military-industrial complex.”  Former President Donald Trump’s list from November 2020 targeted 31 Chinese companies in the telecom, construction and technology industries. Biden’s updated...
    Fred Dufour/Getty Images President Joe Biden moved on Thursday to ban American investment in dozens of Chinese companies allegedly tied to the country’s military and surveillance regimes. In a statement, the White House said an executive order Biden signed Thursday afternoon “allows the United States to prohibit — in a targeted and scoped manner — U.S. investments in Chinese companies...
    (CNN)President Joe Biden signed an executive order Thursday banning Americans from investing in 59 Chinese firms believed to be linked to China's military, expanding an earlier Trump administration order. The original order, signed by President Donald Trump in November, applied to 31 Chinese companies that the administration said "enable the development and modernization" of China's military and "directly threaten" US...
    US President Joe Biden speaks during a commemoration of the 100th anniversary of the Tulsa Race Massacre at the Greenwood Cultural Center in Tulsa, Oklahoma, on June 1, 2021.Mandel Ngan | AFP | Getty Images President Joe Biden on Thursday expanded restrictions on American investments in certain Chinese companies with alleged ties to the country's military and surveillance efforts, adding...
    President BidenJoe BidenBiden congratulates election of new Israeli president amid agreement to oust Netanyahu Trump DOJ seized phone records of New York Times reporters 'Blue's Clues' hosts virtual Pride parade with help of former 'Drag Race' contestant MORE signed an executive order on Thursday to prohibit investments in Chinese defense and surveillance firms that produce or use technology to facilitate...
    President Biden will issue an executive order later this week altering a Trump-era ban on U.S. firms making investments in companies with ties to the Chinese military, according to a report Wednesday. Under Biden’s directive, the Treasury Department will be tasked with compiling a list of companies at risk of penalties for ties to China’s defense and surveillance technology sectors,...
    The bipartisan Congressional-Executive Commission on China wrote a letter to the National Basketball Association (NBA) Tuesday urging players to drop their endorsements of companies that use materials made in Chinese slave labor camps. The committee noted in the letter that numerous NBA players have deals with certain Chinese companies, such as ANTA, Li-Ning and Peak, for sponsorship of different types of athleticwear, such...
    A U.S. Congressional Committee on China issued a letter Tuesday urging NBA players to end their endorsements of sportswear companies that use materials manufactured in Chinese slave labor camps. In a letter to the NBA, the chairs of the bipartisan Congressional-Executive Commission on China pointed out that more than a dozen pro basketball players have inked deals with companies such...
    Wrestling superstar John Cena apologized to the People’s Republic of China and its roughly 1.5 billion inhabitants last week, adding his name to a long list of celebrities and companies asking the communist government for forgiveness — presumably due to fear of financial repercussions. “I made a mistake,” Cena told China after referring to Taiwan as an independent country while...
    A new bipartisan bill in the Senate will require the Federal Communications Commission (FCC) to hold off on clearing business requests from companies on the commission’s national security threat list, including the Chinese company Huawei. Sens. Marco Rubio, R-Fla., and Ed Markey, D-Mass., introduced the Secure Equipment Act of 2021, a bill that aims to stop the FCC from reviewing...
    Savannah Rychcik May 26, 2021 0 Comments Sen. Marco Rubio (R-Fla.) is urging Wall Street not to forget “communist China” is a “geo-economic threat.” In an op-ed published by The American Prospect, Rubio blasted Wall Street for “growing more tightly integrated with China than ever before.” Rubio explained, “Chinese companies that produce surveillance technology and weapons of war that...
    Sen. Marco RubioMarco Antonio RubioFlorida state senator announces bid for Demings's House seat GOP senators introduce resolution condemning antisemitic violence amid 'horrific' spike in attacks The Hill's Morning Report - Presented by Uber - One year later — has George Floyd's killing changed the world? MORE (R-Fla.), one of the Senate's top China hawks, called on Wall Street banks and...
    During a Wednesday appearance on Fox News Channel’s “America’s Newsroom,” Sen. Tom Cotton (R-AR) weighed in on actor and WWE superstar John Cena apologizing in Mandarin for calling Taiwan a country while promoting his upcoming film “F9.” Cotton said Cena’s apology goes to show that “Hollywood is deep in China’s pocket.” He added China’s influence is “almost everywhere in society.”...
    TAIPEI, Taiwan -- Actor and professional wrestler John Cena has apologized to fans in China after he called Taiwan a country in a promotional interview for his upcoming film and became the latest celebrity to face the fury of Chinese nationalists.In a short video posted Tuesday on Chinese social media site Weibo, Cena did not refer to Taiwan or go...
    A bipartisan Senate bill would direct the Federal Communications Commission not to sign off on any applications from companies on its national security threats list, including Huawei, after one of the commissioners pushed for a bigger crackdown on Chinese Communist Party-linked companies in the United States. The new legislation, the Secure Equipment Act of 2021, co-sponsored by Republican Sen....
    Jason Lee | Reuters BEIJING — The U.S. Treasury said Tuesday it was postponing a ban on trading shares of companies with alleged links to the Chinese military. The new restrictions take effect June 11, versus the prior date of May 27. The move by U.S. President Joe Biden's administration extends a grace period for investors to comply with an...
    A Chinese and U.S. flag at a booth during the first China International Import Expo in Shanghai, November 6, 2018.Johannes Eisele | AFP | Getty Images American businesses are bearing most of the cost burden from the elevated tariffs imposed at the height of the U.S.-China trade war, said Moody's Investors Service. The ratings agency said in a Monday report...
    Chinese and U.S. flags outside the building of an American company in Beijing, China January 21, 2021.Tingshu Wang | Reuterss BEIJING — Many U.S. companies in China are still finding it harder to operate in the country compared with their Chinese counterparts in the U.S., the American Chamber of Commerce in China said in a report released Tuesday. "AmCham China's...
    Special Presidential Envoy for Climate John Kerry told lawmakers Wednesday that the Biden administration is weighing sanctions over China’s alleged use of forced labor in the production of solar panels and other renewable energy components. Republican Texas Rep. Michael McCaul asked Kerry during a House Foreign Affairs Committee hearing how the administration’s climate strategy would account for energy companies in...
    In this article 1810-HKXiaomi's headquarters in the Xuhui District of Shanghai.Costfoto | Barcroft Media | Getty ImagesGUANGZHOU, China — The U.S. has agreed to remove Xiaomi from a blacklist that would have barred Americans from investing in the Chinese smartphone maker. Shares of Chinese tech giant Xiaomi rallied as much as 6.5% after the news, before paring some gains. In...
    VIDEO2:2302:23JPMorgan is bullish on Chinese tech stocks. Here's whyStreet Signs Asia JPMorgan Asset Management is bullish on Chinese technology stocks even though regulators are cracking down on internet giants in the mainland. Shares of major Chinese tech companies such as Alibaba, JD.com and Meituan have tumbled this year as Beijing moved to rein in monopolistic behavior among internet giants.   ...
    Margrethe Vestager, competition commissioner of the European Commission, speaks during a news conference in Brussels, Belgium.Bloomberg | Bloomberg | Getty Images LONDON — The European Union wants to restrict foreign companies that receive government subsidies from engaging in its market, potentially causing repercussions for Chinese-backed firms in particular. The European Commission, the executive arm of the EU, proposed on Wednesday...
    TikTok selected the chief financial officer of its Chinese parent company to be its CEO. The video sharing app, deemed a national security threat by the Trump administration, picked a leader, who, until last month, also held leadership positions in Chinese companies blacklisted by the United States over security concerns and Chinese military links. Shouzi Chew, who already...
    The Chinese government announced a new “anti-espionage” regulation on Monday requiring Chinese companies and organizations “susceptible to foreign infiltration” to adopt new security measures. China’s Ministry of State Security issued the anti-spying edict on April 26. The order obligates various bodies in China, including “social groups, enterprises, and public institutions,” to operate as if they are sensitive government entities and...
    The Xpeng P7 electric vehicle displayed outside the New York Stock Exchange on Aug. 27, 2020 when the Chinese electric vehicle launched its initial public listing.Jeenah Moon | Bloomberg | Getty Images BEIJING — Chinese companies are rushing to go public in the red-hot IPO market in the U.S. — before it loses steam. The first three months of the...
    A Chinese-born, naturalized U.S. citizen was convicted Thursday of stealing trade secrets worth up to $120 million from companies that developed a safer coating for the inside of beverage cans and trying to sell the technology to the Chinese Communist Party. Xiaorong You, who began working in the United States nearly 30 years ago, was employed by Coca-Cola and...
    In this article NIO XPEV Nio plans to begin deliveries of its ET7 electric sedan in 2022.Evelyn Cheng | CNBCSHANGHAI — After the last year of growth in the world's largest auto market, China's electric car start-ups are stepping up plans to take on Europe. Chinese authorities only began peeling back restrictions on full foreign ownership of local automobile...
    (CNN)For months, hackers with suspected ties to China have exploited a popular workplace tool to break into government agencies, defense companies and financial institutions in the US and Europe, according to a report by the cybersecurity firm FireEye. The alarming report highlights how hackers repeatedly took advantage of several known flaws and one newly discovered vulnerability in Pulse Secure VPN,...
    Chinese President Xi Jinping urged foreign nations against building walls and to avoid unilateralism in a speech to prominent U.S. business leaders. World leaders should practice cooperation and openness, Jinping told the virtual Boao Forum conference on Tuesday, The New York Times reported. Jinping added that unilateralism, or the idea that a nation should prioritize itself before other countries, must...
    The NBA and many of its players have struck multimillion-dollar deals with various Chinese companies, many of which proudly use cotton raised by slave labor. Even as the whole of the league continues its woke politics supporting Black Lives Matter, condemning Republicans, and attacking states passing election integrity laws, they also continue working hand-in-hand with the communist Chinese who continue...