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  • U.S. lifts ban on suppliers selling to China's ZTE

    3 days ago - By Reuters

    The U.S. Department of Commerce on Friday lifted a ban on U.S. companies selling goods to ZTE Corp, allowing China's second-largest telecommunications equipment maker to resume business. The Commerce Department had said it would remove the ban after ZTE paid a $1 billion penalty and placed $400 million in a U.S. bank escrow account as part of a settlement reached last month.
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  • U.S. ban on China's ZTE lifted

    3 days ago - By Reuters

    The U.S. Department of Commerce on Friday lifted a ban on U.S. companies selling goods to ZTE Corp, allowing China's second-largest telecommunications equipment maker to resume business. The Commerce Department had said it would remove the ban after ZTE paid a $1 billion penalty and placed $400 million in a U.S. bank escrow account as part of a settlement reached last month.
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  • Amid trade spat, China posts record U.S. surplus

    3 days ago - By Reuters

    China's trade surplus with the United States swelled to a record in June as its overall exports grew at a solid pace, a result that could further inflame a bitter trade dispute with Washington.
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  • US expected to become world's top oil producer next year

    3 days ago - By Chron

    The U.S. has nosed ahead of Saudi Arabia and is on pace to surpass Russia to become the world's biggest oil producer for the first time in more than four decades.
    The latest forecast from the U.S. Energy Information Administration predicts that U.S. output will grow next year to 11.8 million barrels a day.
    "If the forecast holds, that would make the U.S. the world's leading producer of crude," says Linda Capuano, who heads the agency, a part of the Energy Department.
    Saudi Arabia and Russia could upend that forecast by boosting their own production.
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  • Fed emphasizes 'solid' U.S economic growth, repeats gradual approach

    3 days ago - By Reuters

    U.S. economic growth has been solid during the first half of the year and the Federal Reserve continues to expect to raise interest rates gradually, the central bank said on Friday in an upbeat semi-annual report to Congress.
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  • China's ZTE sees heavy losses in first half due to U.S. penalty

    3 days ago - By Reuters

    Chinese telecoms equipment group ZTE Corp said on Friday it expected to record a net loss in the first half of the year due to the hefty fine it agreed in order to lift a U.S. ban on component supplies.
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