Jun 08 2018
The Department of Commerce will also change its 2017 settlement agreement with ZTE, counting the $361 million it has already paid in penalties toward the sum, Reuters reported.
The fine comes on top of a roughly $1 billion penalty ZTE has already paid for having sold equipment to North Korea and Iran in violation of US sanctions. Moreover, the U.S. Commerce Department is expected to count the $361 million ZTE paid previous year as part of a settlement agreement, which will allow the government to claim no less than $1.7 billion in penalties. Oclaro got 18 percent of its business from ZTE previous year, while 30 percent of Acacia's total revenue was from ZTE. This means that they could be fined up to $1.7 billion in total.
Senate Democratic leader Chuck Schumer called the agreement "a 180-degree turn away from the president's promise to be tough on China". Hopefully this time ZTE respects the wishes of the USA government to not sell to banned countries and ultimately this may lead to China and the us finally coming to a real agreement on the larger on-going trade discussion.
ZTE was found to have shipped its sophisticated telecommunications equipment to both countries, which the State Department lists as supporters of terrorism, and to have repeatedly lied to US investigators about its actions.
A ZTE spokesman couldn't be reached for comment.
Reuters reports that "ZTE promised to replace its board and executive team in 30 days".
Putin signs Russian 'counter-sanctions' into law
President of Russia, Vladimir Putin has warned against turning sports sites for upcoming FIFA World Cup into markets. Soros is planning to make the euro highly volatile", Putin said, without providing evidence.
New US tariffs would make trade deals void, China says
He said Washington would use its move on Tuesday to slap punitive tariffs on Chinese imports as a bargaining chip. China has also threatened to hit back with tit-for-tat tariffs on tens of billions of dollars in USA goods.
Vedanta Sterlite copper smelter must shut down: Citizens pen a hard-hitting letter
Residents living in towns and villages nearby have long alleged that the plant had damaged their health, water, and environment . The move comes a week after Thoothukudi was rocked by violence as police personnel shot protesters, killing 13 people in all.
Last year, ZTE paid over $2.3 billion to United States suppliers, a senior ZTE official told Reuters last month.
USA senators said they plan legislation to roll back the agreement.
The U.S. has reached a deal to lift sanctions on Chinese telecommunications firm ZTE.
Several U.S. chipmakers, including Qualcomm and Intel, count ZTE as a customer.
Ross insisted Thursday that the ZTE matter was "quite separate and apart" from ongoing trade talks with China.
ZTE's survival has been a topic of discussion in high-level U.S.
US goods exported to China a year ago totalled $130 billion while Chinese imports to the USA totalled $506 billion. NeoPhotonics (NPTN) rose 1.6% to 7.15, while Oclaro (OCLR) climbed 1.4% to 9.18.
Jun 05 2018
French Open 2018: Alexander Zverev through after scare from Damir Dzumhur
After defeating Damir Dzumhur on Friday, Zverev reflected on how the right coaching can help take his game to the next level. Dzumhur , however, rallied off three games in a row, and forced a match point as Zverev served to stay in the encounter.
Jun 04 2018
Apple Has Been Blocking Telegram From Updating Its App Since April
Mostly due to the fact that it was banned for refusing to hand over private encryption keys that would allow the Kremlin to spy on users.
Jun 03 2018
Apple launches iOS 11.4
Bloomberg notes that Apple's long-promised parental controls will likely be tied into iOS 12's Digital Health feature, too. ARKit 2.0 will enable users to game against each other in the same virtual environment, according to the report.
Jun 03 2018
Sears (and Kmart) will close these stores in Pa.
Sales at Sears stores open at least one year, a closely watched industry metric, fell 13.4 percent during the most recent quarter. Liquidation sales at the stores will begin as early as June 14 and all stores will close by early September, the company said .
Jun 01 2018
Xiaomi Mi 8 with Snapdragon 845 chipset, 3D face unlock launched
A Xiaomi spokesperson declined to comment when we asked if the company wanted to talk about the Mi 8's similarity to the iPhone X. The processor is the new Snapdragon 710 , Qualcomm's chip for upper-mid-range devices that was just introduced the other week.
May 31 2018
US to push steel, aluminum tariffs on EU, Canada and Mexico
Getting rid of the exemptions for Canada and Mexico, meanwhile, could complicate ongoing negotiations on NAFTA. Ross spoke with top European Union officials in Paris Wednesday as part of a two-day meeting.
May 31 2018
Parents of Parkland Victims Condemn ‘Active Shooter’ Video Game
Steam's owner, Valve, said the game's publisher and developer had a bad history with the company, which led to its cancellation. Ryan Petty , who lost his 14-year-old daughter Alaina Petty in the Parkland shooting in February, dubbed the game "despicable".
May 31 2018
Cavs' James opens up about midseason doubts
Outside of James, these Cavs are drastically different than the team the Warriors played in last year's NBA Finals. Hill's up-and-down play during the playoffs has become a microcosm for Cleveland's wild swings in the postseason.
May 30 2018
Congressional leaders get briefings on Russian Federation probe
Nunes, an ardent Trump supporter, originally demanded the information on an FBI source in the Russian Federation investigation . They were anxious that Trump refused to divest himself of his businesses or release his tax returns or health information.
May 30 2018
State of emergency declared as Baltimore devastated by floods
The river rose 17.8 feet in two hours Sunday afternoon, to 24.1 feet, a record from the previous high of 23.6 feet. Destroyed chunks of roadway rest after being washed into a riverbed in flood-ravaged Ellicott City, Maryland .
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