Wednesday, 19 September, 2018

ZTE Is Banned From Purchasing Components Made By US Suppliers

Optical Stocks Under Pressure After US Bans Sales To ZTE Secretary Ross Announces Activation of ZTE Denial Order in Response to Repeated False Statements to the U.S. Government
Nina Mathis | 17 April, 2018, 20:21

The U.S. Federal Communications Commission on Tuesday plans to consider a ban on networking equipment from companies such as ZTE and Huawei (huawei).

Mr Obama and the United States commerce department banned companies from doing business with ZTE for seven years, for allegedly violating a 2017 settlement over allegations it has sold equipment to Iran and North Korea.

The Commerce Department determined ZTE, which was previously fined for shipping telecommunication equipment to Iran and North Korea, subsequently paid full bonuses to employees who engaged in the illegal conduct, failed to issue letters of reprimand and lied about the practices to USA authorities, the department said.

But last March, ZTE admitted that only four officials had been fired, but the other 35 were still working in the company.

As part of the agreement, Shenzhen-based ZTE promised to dismiss four senior employees and discipline 35 others by either reducing their bonuses or reprimanding them, senior US officials told Reuters. "This egregious behavior can not be ignored", claimed US Secretary of Commerce Wilbur Ross in unveiling the tough sanctions against ZTE yesterday.

ZTE, whose Hong Kong and Shenzhen shares were suspended from trade on Tuesday, said in a statement it was assessing the implications of the USA decision and was communicating with "relevant parties".

A senior official with the U.S. Commerce Department Bureau of Industry and Security told reporters that the ZTE decision was unrelated to the administration's threats to impose tariffs on Chinese imports, saying the actions against the Chinese company are part of an investigation.

The company has set up a crisis management group in response to the ban, said a ZTE source, declining to be identified as the information was confidential.




"If the issue can not be solved smoothly and immediately, we think that ZTE will face tremendous disaster and would be forced to scale back on its smartphone business, not only in the USA, but also in other markets", said Strategy Analytics analyst Woody Oh.

The UK's National Cyber Security Centre (NCSC) has warned that one of China's biggest telecoms infrastructure and smartphone firms is a national security risk.

It is also happening as President Donald (Prince of Orange) Trump starts a trade war with China.

ZTE's smartphones use microchips from Qualcomm and glass from Corning.

The Chinese firm also agreed to pay $890 million in fines and penalties, with an additional penalty of $300 million that could be imposed.

ZTE has sold handset devices to USA mobile carriers AT&T Inc, T-Mobile US Inc and Sprint Corp. "Huawei is closely associated with the Chinese government, and Huawei and ZTE strongly dislike each other".

It also comes amid heightened tensions between the USA and China, which are now engaged in a tit-for-tat exchange of possible tariffs.

Recommended

Japan and China's foreign ministers pledge to pursue improved ties Japan and China's foreign ministers pledge to pursue improved ties They have agreed to further consolidate the improvement in bilateral ties ahead of a summit with South Korea set for May. The two sides are expected to discuss Japan's possible involvement in China's "Belt and Road" initiative .

While in Peru, Pence briefs USA lawmakers on Syrian strikes While in Peru, Pence briefs USA  lawmakers on Syrian strikes Seated alongside Trudeau, Pence said there was a "real possibility" the USA could reach a deal with Canada and Mexico on NAFTA "within the next several weeks".

Guard Your Privacy by Deleting These 5 Things From Your Facebook Page Guard Your Privacy by Deleting These 5 Things From Your Facebook Page It has pointed out practices of companies like YouTube and Google, apart from Facebook , that are potentially harmful to children. Facebook gets some data on non-users from people on its network, such as when a user uploads email addresses of friends.

Bale's future revealed after Real Madrid poor run Bale's future revealed after Real Madrid poor run Madrid have been drawn to face Bayern Munich in the semi-final, with the first leg taking place at the Allianz Arena on April 25. Juventus had become the first-ever side to come back from 3-0 behind away from home in the Champions League knockout stages.

NewsAlert: Canada's Brooke Henderson pulls away to win Lotte Championship NewsAlert: Canada's Brooke Henderson pulls away to win Lotte Championship Her second-round three-over-par 75 followed her opening 70 to leave her one over and in a share of 32 place. In its seventh year, the Lotte Championship at Ko Olina Golf Club has a seventh different victor .

Pep Guardiola: Sergio Aguero out for Man City's 'important' game vs Pep Guardiola: Sergio Aguero out for Man City's 'important' game vs David played more because he was absent for a while, due his [ill] son's situation, that's why he had maybe more energy in the legs [recently]".

Trump Ponders Re-Entering Trans Pacific Partnership Trade Agreement Trump Ponders Re-Entering Trans Pacific Partnership Trade Agreement Ratification of the CPTPP is expected this spring, and the trade partners could consider adding new members not long after. Trump withdrew the U.S. from the TPP during his first week in office. "You'd need a whole renegotiation", he said.

Kentucky legislature overrides governor's vetoes of budget, revenue bills Kentucky legislature overrides governor's vetoes of budget, revenue bills Attorney General Andy Beshear filed a lawsuit asking the court to throw out the pension law, calling it unconstitutional. The House and Senate did override the governor's vetoes late Friday afternoon for House Bill 366 and House Bill 362 .

Sega Ages Bringing Classics To Switch Beginning In Summer 2018 Sega Ages Bringing Classics To Switch Beginning In Summer 2018 According to Sega the games will come with Japanese and English voiceovers and an updated user interface. Hopefully, we'll hear more soon! This year was different, however, and there was something for everyone.

Why Chelsea defender Rudiger has been frozen out by manager Conte Clearly, with Chelsea down to 10 men and us in the first half on the ascendancy, it is a slant on the game really. Olivier we know very well, we are talking about worldwide players. "You've got to get the big decisions right".

Ugh! Freezing rain to amble towards Great Lakes Saturday Ugh! Freezing rain to amble towards Great Lakes Saturday Kerry Schmidt said there had been more than 200 collisions on the highways in the Greater Toronto Area by Saturday afternoon. The National Weather Service Saturday issued an ice storm warning as freezing rain forecast from 2 p.m.

Mattis Says US Strikes Directed at Assad Regime Mattis Says US Strikes Directed at Assad Regime Now, Mattis said, Russian Federation is "complicit" in helping the regime retain them. The last target was a military command post and chemical weapons storage facility.

Does the Scooter Libby pardon have implications for the Russian Federation probe? Does the Scooter Libby pardon have implications for the Russian Federation  probe? Fitzgerald asked the court to release her from jail in September 2005, she was summoned to testify before the grand jury. Trump also has pardoned a US Navy sailor who was convicted after taking photos of classified portions of a submarine.

Jaguar Land Rover to shed 1000 temp workers Jaguar Land Rover to shed 1000 temp workers An insider told Reuters that auto production at the company's factories in Solihull and Castle Bromwich would be cut, resulting in 1,000 agency workers losing their jobs.

Upcoming Gmail redesign will also herald the arrival of self-destructing emails Upcoming Gmail redesign will also herald the arrival of self-destructing emails A user can set the expiration date for the email following which the mail would be deleted at the time set by the user. Following the update, you'll be able to set emails you send to "expire" after a certain amount of time.