According to The Wall Street Journal, the United States prosecutors in NY have begun investigating whether Huawei, the leading Chinese smartphone maker and one of the largest telecom equipment manufacturer, violated USA sanctions against Iran.
Seen as an extension to the ongoing bilateral trade spats, the US Department of Commerce has imposed a ban on ZTE for sanctions violations, prohibiting American firms from selling components to the China telecom equipment maker for seven years. "No matter what difficulties we encounter, we can only survive and thrive by doing our own business well and serving our customers better", he said.
ZTE has already paid $890 million in fines and penalties and could face additional penalty of $300 million for violation of USA export sanctions. The New York Times last April reported the US Treasury's Office of Foreign Assets Control subpoena, issued in December 2016, following a Commerce Department subpoena that summer.
Just how important is the USA for Huawei, which is already the world's third-largest smartphone maker by sales?
In February, Senator Richard Burr, the Republican chairman of the US Senate Intelligence Committee, cited concerns about the spread of Chinese technologies in the United States, which he called "counterintelligence and information security risks that come pre-packaged with the goods and services of certain overseas vendors". January started with the news that the U.S. government had intervened to kill deals that Huawei was making with Verizon and AT&T, which would have helped the Chinese company sell its flagship Androidphones in the US.
Huawei and ZTE have denied these allegations. The company failed to comply with the punishment set forth by the U.S. Commerce Department and now is banned from receiving U.S. exports until March 2025. The Wall Street Journal says that the worse- case scenario facing Huawei is a similar USA export ban.
The Chinese company came under US pressure in 2012 when a congressional report concluded both Huawei and ZTE could become a tool for state-sponsored spying or sabotage.
"America's investigation has no impact on our company", a chief executive from Huawei, the world's third-biggest mobile phone company after Apple and Samsung, told reporters from National Business Daily (NBD), a financial newspaper in China, on Wednesday evening.
According to a copy of the letter obtained by Reuters, ZTE said the order should be "very concerning to all", since it took effect without warning to the industry, without waiting for the results of an independent internal investigation due at the end of the month, and without recognition for all the improvements in its export compliance program.
Some rain showers moved through yesterday evening, but we now have clear skies, and sunshine will persist throughout the day. It will be breezy today and tonight with winds around 10-20 miles per hour , gusting up to 30 miles per hour .
Analysts linked the Dow's downturn to the 10-year Treasury yield rising past 3 percent Tuesday for the first time since 2014 . The stock market had already been spooked by a climb in bond yields earlier in the year, sliding sharply in February.
Sky's shares rose 3 per cent to 13.40 pounds at 11.03 a.m.in London, a 7 per cent premium to Comcast's offer. The interloper also sought to tackle the concerns over the future of Sky News that have dogged the Fox bid.
The metal fell as much as 1.6 per cent to $2,191 a metric ton, and was at US$2,205 at 2.53 pm in Shanghai. Alcoa (AA -14.2%) shares are on track for their biggest one-day loss in nine years , after the U.S.
And while Bayern pushed for the second goal, Real waited patiently to go on the counter before striking. Really proved that he's a great asset for Bayern Munchen, both in the attacking and defensive phase.
Its unclear when a full diagnosis on his injury layoff will be confirmed, but his World Cup could well be in danger. The manager told BT Sport post-match: "Oxlade-Chamberlain, it's probably a really bad injury".
After the Facebook's data breach scandal, WhatsApp gives ability to request WhatsApp Account info to users. Other changes announced by WhatsApp on Tuesday include a downloadable report detailing the user data.
The Windrush children who came over with their parents were entitled to settled status, and so are in the United Kingdom legally. She said: "The problem at the time is that they were not documented with that right, and that is what we are now putting right".
Early this year, on March 22, Massachusetts State Troopers in Haverhill, Mass. arrested Williams on firearms violations. Correction: A previous version of this story identified Deputy Chief John Cote with the wrong title .
Two weeks later, a man identifying himself as Reinking called back, according to a recording of the call released by the store. Reinking is on suicide watch at the maximum-security Metro Jail in Nashville, according to Davidson County Sheriff Daron Hall.
Armenia plans leader elections after shock resignation of PM
Pashinyan's supporters resumed protests on Wednesday morning, demanding the ruling Republican Party fully relinquish power. Pashinian has threatened extended protests, which continued Thursday, if the Republican Party nominates a candidate.
Sixers knocks off Heat
The Celtics can eliminate the Bucks from the playoffs in Thursday's game six and set up the second round battle with the 76ers. Prior to that there had been little to separate the two sides, with Miami holding the hosts 46-46 at halftime.
Amazon Will Now Drop Packages Inside Cars
During my test, I received a push notification from Amazon: "Arriving soon: Your package will be delivered to your Volvo ". At this time Amazon Key In-Car Delivery is available to Prime members in select cities and surrounding areas.
Oil price strength may hold in the near term
United States output, supported by high prices, has hit record levels, partially offsetting the Opec-led cuts. This would put significant downward pressure on oil prices for a while.
IPL: CSK beat RCB after Dhoni hits unbeaten 70
Batting first, RCB scored 205 for eight in the allotted 20 overs, and CSK chased down the target of 206 with two balls to spare. Before this match , the IPL 2018 standings table puts Chennai at second spot with four wins in five matches and 8 points.
BMW iX3 Electric SUV Revealed At Beijing Motor Show
Based on the X3, the iX3 Concept also features a specially developed rear axle subframe and specific chassis integration. BMW plans to introduce a new modular design that will allow all future models to offer an electric variant.
Family of murdered KL lecturer to move to Gaza, says widow
Dan Diker from the Jerusalem Center for Public Affairs told WIN that Hamas has indeed become an worldwide terrorist organization. Haaretz reported that Hamas has recruited some 40 Palestinian students to serve as operatives on Malaysian campuses.
Cedar Falls to take part in national drug take back event
In the past, it was commonplace to just simply toss old or unwanted medications in the trash or flush them down the toilet. The Dodge County Sheriff's Office will be participating in a statewide Prescription Drug Take Back Event on Saturday.
Google brings new Tasks app to iPhone and iPad
Product manager lead for Gmail , Jacob Bank, described the changes as "an entire rewrite of our flagship, most-used product". It also works closely alongside Google Calendar and Gmail to make managing your most important projects as easy as possible.