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1 Article
Source: Common Domain

SEC Revives Fight Over Inability to Inspect Chinese Auditors of Alibaba, Baidu

Today 01:30 GMT

American regulators resurrected a long-simmering fight over their inability to inspect audits of Chinese companies that are traded on U.S. stock exchanges, saying the situation prevents investors from getting information they need.

The SEC issued the statement in advance of a major accounting conference on Monday where its chairman, Jay Clayton, plans to speak about the problem. “China’s state security laws are invoked at times to limit U.S. regulators’ ability to oversee the financial reporting of U.S.-listed, China-based companies,” the SEC said in a joint statement with the Public Company Accounting Oversight Board.

1 Article
Source: Fox News

US economy slowing, but recession unlikely: UBS Global Wealth Mgmt. Americas CIO

Friday 15:27 GMT

Although the arrest presents a new dynamic in terms of the U.S.-China tit-for-tat trade conflict, in UBS Americas Chief Investment Officer Mike Ryan’s opinion, the selloff is “exaggerated.” “I think there’s going to be a lot of back and forth on this,” he told FOX Business’ Stuart Varney on Thursday.

“We are perhaps coming off the boil a bit, which is perhaps some good news because it’s one of the things that can temper the Fed’s approach towards raising rates,” he said.

1 Article
Source: Reuters

Exclusive: Tesla, smarting from trade war, seeks bids for China...

Friday 03:20 GMT

The so-called Gigafactory would be China’s first wholly foreign-owned car plant, whose progress is widely seen as a reflection of Sino-U.S. relations and also the degree to which China is opening up its markets.

Tesla Inc has opened a tender process to build its Shanghai Gigafactory and at least one contractor has started buying materials, according to sources and documents reviewed by Reuters, the clearest indication that construction is imminent.

1 Article
Source: Common Domain

U.S. Stocks End Week With A Slide

Saturday 17:16 GMT

Investors’ retreat from U.S. stocks turned into a stampede Friday, with major indexes suffering declines of more than 4% for the week and their worst start to a December since 2008.

Stocks and bonds have swung wildly in recent sessions on uncertainty over a China trade deal and the prospect of tighter U.S. monetary policy. Meanwhile, corporate earnings growth is expected to slow next year, and oil prices have tumbled about 30% over the past two months on worries about a supply glut.

1 Article
Source: Common Domain

CMO Today: The Hits Keep Coming for Facebook

Friday 11:46 GMT

To make sure we bring you CMO Today at the best possible time, we're testing two alternative schedules this week: delivery an hour later than usual (at 9 a.m.

The documents show how Facebook was ruthlessly competitive (quelle surprise) and sought to hamper rivals in the pursuit of growth, gave select developers special access to data and once considered charging developers for user information. Lots to sift through in the 250 pages of internal Facebook documents released on Wednesday by the U.K. Parliament.

1 Article
Source: CBS News

U.S. stocks plunge on global trade tensions, fears of slowing growth

Friday 11:46 GMT

The news of Huawei CFO Meng Wanzhou's arrest sent shares sharply lower on fears of rising tensions between China and the U.S. The incident comes after President Donald Trump and his Chinese counterpart Xi Jinping agreed over the weekend to hold off on further retaliatory moves in a festering trade war.

Wall Street's investor rout deepened on Thursday after news of the arrest of a top executive at Chinese tech company Huawei stoked fears it could hinder progress in China-U.S. trade talks.

1 Article
Source: Common Domain

Weekend roundup: ‘Worthless’ bitcoin

Saturday 22:44 GMT

• Why bitcoin — by design — won’t become worthless, according to this crypto heavyweight. After having dinner with Chinese President Xi Jinping on Dec. 1, President Trump said it would be at least another 90 days before U.S. tariffs on $200 billion in annual imports from China would be raised to 25% from 10%.

However, the gains were more than given back the next day after Trump turned his well-known talent for nicknames on himself: “President Xi and I want this deal to happen, and it probably will. But if not remember, I am a Tariff Man,” he said in a series of Twitter postings.

1 Article
Source: Reuters

Exclusive: Huawei CFO linked to firm that offered HP gear to Iran

Saturday 20:00 GMT

A Hong Kong-based firm that attempted to sell embargoed Hewlett-Packard computer equipment to Iran’s largest mobile-phone operator has much closer ties to China’s Huawei Technologies than was previously known, corporate records show.

Reuters reported last month that in late 2010, Skycom’s office in Tehran offered to sell at least 1.3 million euros worth of HP gear to Mobile Telecommunication Co of Iran, despite U.S. trade sanctions.

1 Article
Source: Fox News

Newt Gingrich: Dont let confusion and fear block promising genetic therapy treatments

Saturday 20:00 GMT

As one of the Sanford Award nominees, Dr. Jim Wilson, who directs the Gene Therapy Program at the University of Pennsylvania – and whose work refining a gene therapy delivery system is the foundation upon which much of today’s gene therapy treatment is built – explained, “Gene therapy is really the ultimate treatment for patients that have disease due to single gene defects.”

One of the most exciting areas of biomedical science today is in genetic medicine, where we are just now seeing the public investment into sequencing the human genome bear fruit in the form of treatments to help patients overcome hereditary disorders.

1 Article
Source: Reuters

Arrest of Huawei 'heiress' throws rare spotlight on family

Friday 15:26 GMT

The detention of Meng, who takes her family name from her mother and has also used the English first names “Cathy” and “Sabrina”, has once again thrown the spotlight on Huawei at a time of heightened global concerns over electronic security.

A source familiar with the matter told Reuters the arrest stems from Huawei Technologies Co Ltd’s [HWT.UL] alleged violation of U.S. sanctions on Iran. Similar allegations of breaching U.S. export restrictions led to rival Chinese telecoms equipment maker ZTE Corp (0763.HK) being hit with a devastating ban and heavy fines this year.

1 Article
Source: Fox News

Dow plunges triple digits, turns negative for 2018

Friday 15:26 GMT

U.S. equities plunged Thursday -- putting the main stock index in negative territory for the year -- after Canadian authorities arrested the chief financial officer of Chinese telecom giant Huawei at the request of U.S. authorities.

The intraday decline in the blue-chip Dow Jones Industrial Average -- down more than 700 points in late-morning trading -- put the widely watched index into negative territory for 2018.

1 Article
Source: Common Domain

American Entrepreneurs Who Flocked to China Are Heading Home, Disillusioned

Saturday 14:31 GMT

Fifteen years ago in California, a tall technology geek named Steve Mushero started writing a book that predicted the American dream might soon “be found only in China.”

For years, American entrepreneurs saw a place in which they would start tech businesses, build restaurant chains and manage factories, making potentially vast sums in an exciting, newly dynamic economy. Many mastered Mandarin, hired and trained thousands in China, bought houses, met their spouses and raised bilingual children.

1 Article
Source: Common Domain

Today’s Logistics Report: Scrambling for Storage; Prescriptions for Delivery; New Auto Supply Chains

Saturday 14:31 GMT

International trade disputes are driving auto manufacturers and their suppliers to make products that appeal more to local markets, shortening supply chains.

Walgreens Boots Alliance Inc. and FedEx Corp. are launching nationwide next-day delivery, the WSJ’s Aisha Al-Muslim reports, as the drugstore chain works to stave off competition from Amazon.com Inc. and other pharmacy chains. Amazon’s acquisition of PillPack Inc. this year is driving the change in drug distribution by giving the e-commerce giant the ability to ship prescriptions overnight nationwide.

1 Article
Source: Common Domain

Dow falls roughly 200 points as trade concerns reemerge

Saturday 14:31 GMT

The Dow Jones Industrial Average DJIA, -1.25%  fell 237 points, or 1%, at 24,711, the S&P 500 index SPX, -1.11% is down 21 points, or 0.8%, at 2,674, while the Nasdaq Composite Index COMP, -1.53% traded 86 points, or 1.3%, lower at 7,095.

U.S. stocks turned negative late-morning Friday, after trading modestly higher at the start of trade, as new jitters on trade relations overshadowed a November employment report.

1 Article
Source: Common Domain

U.S. Readies Charges Against Chinese Hackers

Saturday 17:16 GMT

Federal prosecutors are expected to unseal criminal charges as soon as next week against hackers linked to the Chinese government who have allegedly engaged in a sophisticated multiyear scheme to break into U.S. technology service providers in order to compromise the networks of their clients, according to people familiar with the matter.

The Justice Department followed up just two days later with more charges against a  Chinese state-owned firm and its Taiwan partner for allegedly stealing trade secrets from the U.S.’s largest memory-chip maker, Micron Technology Inc.. Taken collectively, the charges represent the most significant effort yet by law-enforcement officials to publicize and condemn Beijing’s intrusions of American businesses.


“Four hostile newspapers are more to be feared than a thousand bayonets...” ― Napoléon Bonaparte