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US’s moves against Huawei will spur on new tech development in China

2 hours ago DieselGasoil Comments Off on US’s moves against Huawei will spur on new tech development in China
Under pressure from the US government, Google suspended its product-sharing agreements and licenses with Chinese communications giant Huawei. But how badly will the move affect Huawei and what could it do to retaliate? The Trump administration last week banned US companies from selling to Huawei without a government license, significantly upping the ante in the Read More

Wall St. pressured as Huawei fallout worries spark tech sell-off

4 hours ago DieselGasoil Comments Off on Wall St. pressured as Huawei fallout worries spark tech sell-off
(Reuters) – U.S. stocks dropped on Monday, as Washington’s restrictions on China’s Huawei Technologies stoked fears about a hit to the broader technology sector and ratcheted up trade tensions between the world’s two largest economies. Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., May 20, 2019. REUTERS/Brendan Read More

Face ID firm Lumentum follows Google with Huawei ban

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LONDON (Reuters) – Apple Face ID parts supplier Lumentum Holdings Inc followed Google on Monday in clamping down on the business it does with Huawei Technologies, after U.S. President Donald Trump imposed a ban on the Chinese firm on national security grounds. A 3-D printed Android logo is seen in front of a displayed Huawei Read More

Wall St. lower as tech stocks sell-off on Huawei fallout worries

6 hours ago DieselGasoil Comments Off on Wall St. lower as tech stocks sell-off on Huawei fallout worries
(Reuters) – U.S. stocks fell on Monday, as Washington’s crackdown on China’s Huawei Technologies stoked fears about a hit to the broader technology sector and ratcheted up trade tensions between the world’s two largest economies. Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., May 20, 2019. REUTERS/Brendan Read More

Wall St. drops as tech stocks tumble on Huawei fallout fears

7 hours ago DieselGasoil Comments Off on Wall St. drops as tech stocks tumble on Huawei fallout fears
(Reuters) – U.S. stocks fell on Monday, as a crackdown on China’s Huawei Technologies raised concerns of a bigger impact on chipmakers and added to fears of an escalation in trade war between the two nations. Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., May 16, 2019. Read More

U.S. President Donald Trump likes fossil fuels but investors don’t

9 hours ago DieselGasoil Comments Off on U.S. President Donald Trump likes fossil fuels but investors don’t
By Matthew A. Winkler on 5/20/2019 Photo: U.S. President Donald Trump. NEW YORK (Bloomberg Opinion) — Fossil fuel never had a better friend in the White House than Donald Trump. So why, two years into his presidency, are investors favoring public companies devoted to renewable energy and giving the Bronx cheer to the coal, gas Read More

Lumentum says halting all Huawei shipments, cuts quarterly forecast

9 hours ago DieselGasoil Comments Off on Lumentum says halting all Huawei shipments, cuts quarterly forecast
(Reuters) – Mobile phone parts producer Lumentum Holdings Inc on Monday was the first U.S. company to confirm formally it was halting shipments to Huawei Technologies, following export restrictions put in place by the United States Department of Commerce. The company, which is seen as a major supplier of Apple Inc’s Face ID technology, said Read More

China’s farm stocks defy Sino-U.S. trade rout on local demand expectations

16 hours ago DieselGasoil Comments Off on China’s farm stocks defy Sino-U.S. trade rout on local demand expectations
SHANGHAI (Reuters) – The fresh escalation in the long-running Sino-U.S. trade dispute prompted a sharp selloff in Chinese markets last week with the yuan and banking and tech stocks hit particularly hard though some sectors, like farming, managed to outperform. FILE PHOTO: Investors look at screens showing stock information at a brokerage house in Shanghai, Read More

ExxonMobil Permian Development to provide $64 billion in benefits to New Mexico

1 day ago DieselGasoil Comments Off on ExxonMobil Permian Development to provide $64 billion in benefits to New Mexico
5/19/2019 Photo: Darren W. Woods, chairman and CEO, ExxonMobil. IRVING, Texas — ExxonMobil has said a new study estimates the company’s development of Permian Basin resources in New Mexico will generate approximately $64 billion in net economic benefits for the state and local communities over the next 40 years, creating thousands of new jobs and Read More

Huawei has long been ready for US ban & won’t bow to pressure, CEO says

2 days ago DieselGasoil Comments Off on Huawei has long been ready for US ban & won’t bow to pressure, CEO says
US restrictions won’t hurt Chinese telecom giant Huawei much, as it has long been prepared for it, CEO Ren Zhengfei stated, adding that the firm has no intention of changing its activities on the US’ request. “We have already been preparing for this,” the founder of Shenzhen-based Huawei Technologies said, as cited by Nikkei in Read More