Author Archives
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US federal court summon ZTE for violating probation in visa fraud
On Monday, a U.S. federal court in Texas has summoned lawyers for ZTE Corp for a hearing whether the Chinese telecommunications equipment maker violated probation in connection with an alleged conspiracy to commit visa fraud. The company is on probation in… Read More ›
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Major Apple supplier Foxconn halts Shenzhen plant to comply with local COVID-19 policies
On Monday, Foxconn, a major Apple Inc supplier and iPhone assembler said, it has suspended operations in the Chinese city of Shenzhen to comply with the local government’s COVID-19 control policies. The development comes midst Shenzhen tightening its COVID-19 restrictions after… Read More ›
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US assets of Russian oligarch Roman Abramovich frozen: WSJ
As per a report from the Wall Street Journal, a few U.S. hedge-funds which have investments from Russian oligarch Roman Abramovich have been told to freeze his assets after Britain imposed sanctions on him. Britain has frozen his assets and… Read More ›
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Chinese companies non compliant with US audit standards will be delisted: SEC
Shares of Yum China along with four other Chinese companies have fallen sharply after they were ensnared in an audit dispute between China and the United States. In a statement Yum China Holdings, the owner of KFC, Taco Bell and Pizza… Read More ›
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Financial institutions ordered to halt all transactions with Russian entities: Financial regulators of Bahamas
In a statement financial regulators of Bahamas said, financial institutions in the country have been ordered to halt all transactions with Russian entities which have been targeted under Western sanctions. While the Bahamas has vocally condemned Russia’s invasion of Ukraine,… Read More ›
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Twitter targets $45 billion US market for social commerce using experimental Shop feature
In a statement Twitter Inc said, it will allow companies to showcase up to 50 products for sale on their profiles, as part of an experiment to gain a piece of the $45 billion U.S. market for social commerce. Facebook… Read More ›
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Amazon expected to secure unconditional approve from EC on its $8.5 billion acquisition of movie studio MGM
In a significant development, Amazon is expected to win an unconditional approval from the European Commission for its $8.5 billion acquisition of U.S. movie studio MGM, said sources familiar with the matter. The move is likely to heat up competition… Read More ›
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NHTSA issues final rules for fully autonomous vehicles
In a significant development, U.S. regulators have issued final rules which have eliminated the need for manual driving controls for fully autonomous vehicles; the development sees regulators finalizing new crash standards which have to be met by automated vehicle manufacturers…. Read More ›
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China refusing to supply aircraft spare parts: Russian news agencies
As per a news report from Russian agencies, China has refused to supply aircraft spare parts to Russian airlines after Boeing and Airbus halted supply of components to Russia. The Russian aviation sector is being squeezed by Western sanctions following the invasion… Read More ›
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Air France-KLM, and Delta Airlines express interest to purchase majority stake in ITA Airways
With the backing of an international fund, Air France-KLM, and Delta Airlines have expressed interest to purchase a majority stake in Alitalia’s successor ITA Airways, reported La Repubblica citing a government source. According to the report, the expression of interest was… Read More ›
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