• Morning News: June 7, 2018

    6 monthes ago - By Crossing Wall Street

    Hong Kong's China Loan Pipe Is Gurgling Too Loud
    U.S. Trade Deficit Falls to 7-Month Low as Exports Set Fresh Record
    U.S. Congress Has Few Options to Stop Trump from Saving China's ZTE
    The Simple Message From the Trustees of Social Security and Medicare
    Mick Mulvaney Effectively Fires CFPB Advisory Council
    Landline Phone Service, Which Still Exists, Goes Down Across the U.S.
    New Bitcoin ETF Would Set Buyers Back $200,000
    Coinbase Expands With Deal for Broker-Dealer Keystone Capital
    Uber Jumps Into Europe's Crowded Bike-Sharing Market
    How I Learned to Stop Worrying and Love Electric...
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  • Chinese phone maker ZTE saved from brink after deal with U.S

    6 monthes ago - By Reuters

    U.S. Commerce Secretary Wilbur Ross said on Thursday the government has reached a deal with ZTE Corp that reverses a ban on its buying parts from U.S. suppliers, allowing China's No. 2 telecommunications equipment maker to get back into business.
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  • Supercell invests $5 million in U.S. indie studio Redemption Games

    Supercell invests $5 million in U.S. indie studio Redemption Games

    6 monthes ago - By Venture Beat

    Supercell's indie studio investment spree continues today with a $5 million bet on mobile game studio Redemption Games. The Carlsbad, California-based studio deal represents Helsinki-based Supercell's first investment in a U.S. operation. Supercell is flush with cash from billions of dollars in revenues from its mobile games such as Clash of...
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  • Commerce Secretary: US reaches deal with China's ZTE

    6 monthes ago - By Chron

    NEW YORK - The United States and China have reached a deal that allows the Chinese telecommunications giant ZTE Corp. to stay in business in exchange for paying an additional $1 billion in fines and agreeing to let U.S. regulators monitor its operations.
    The fine comes on top of a roughly $1 billion penalty ZTE has already paid for having sold equipment to North Korea and Iran in violation of U.S. sanctions.
    The Commerce Department said Thursday that ZTE must also put $400 million in escrow - a sum that it would forfeit if it violated Thursday's agreement.
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  • China's ZTE To Pay $1 Billion Fine To Settle U.S. Trade Case

    China's ZTE To Pay $1 Billion Fine To Settle U.S. Trade Case

    6 monthes ago - By NPR

    Commerce Secretary Wilbur Ross announced a deal with Chinese telecommunications company ZTE - a move that may indicate progress in high-stakes trade talks between the U.S. and China. (Image credit: Johannes Isele/AFP/Getty Images)
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  • Qualcomm CEO hopes ZTE deal will clear acquisition of NXP in China

    6 monthes ago - By Reuters

    Qualcomm Inc CEO Steven Mollenkopf said on Thursday he hoped an announced agreement between the United States and China on the future of ZTE Corp will pave the way for China clearing Qualcomm's acquisition of NXP Semiconductors NV.
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  • AmTrust agrees to sweetened $2.95 billion buyout offer

    6 monthes ago - By Reuters

    U.S. insurer AmTrust Financial Services Inc on Thursday agreed to be acquired by a group of investors for a sweetened $2.95 billion deal that also helped secure the support of dissenting shareholder Carl Icahn.
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  • U.S. reaches deal with China's phone maker ZTE: Commerce Secretary

    6 monthes ago - By Reuters

    U.S. Commerce Secretary Wilbur Ross said on Thursday that Washington has reached a deal with ZTE Corp that would reverse a ban on buying parts from U.S. suppliers, allowing China's No. 2 telecommunications equipment maker to get back into business.
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  • Low-Income Households Could See 20% Rent Increase Under Latest HUD Proposal

    6 monthes ago - By Fortune

    The latest proposal to raise rent for those living on housing assistance by Housing and Urban Development Secretary Ben Carson could cause some low-income U.S. households to see their rent skyrocket by at least 20%, according to an analysis by the Center on Budget and Policy Priorities.
    In a report provided to the Associated Press , the CBPP found that in the nation's 100 largest metropolitan areas, low-income tenants would be forced to pay approximately 20% more in annual rent under Carson's proposal , which was revealed in April. In cities such as Charleston, S.C., households receiving...
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  • Term Sheet - Thursday, June 7

    6 monthes ago - By Fortune

    BUYING LEGITIMACY Good morning, Term Sheet readers.
    U.S. cryptocurrency exchange Coinbase will acquire a firm that owns Keystone Capital Corp., Venovate Marketplace, and Digital Wealth , in a bid to become a fully SEC-regulated broker dealer. Keystone Capital, a Cardiff, Calif.-based financial services firm, is a FINRA-registered broker-dealer, and it has licenses to operate as a registered investment adviser, as well as to run an alternative trading system.
    Financial terms weren't disclosed. Here's what to know about this deal:
    This is huge for Coinbase because it could expand its...
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  • China's ZTE to Pay $1.4 Billion U.S. Fine to Get Back in Business

    6 monthes ago - By Fortune

    The U.S. has reached a deal that will allow ZTE Corp. to get back in business after the Chinese telecommunications company pays a record-large fine and agrees to management changes, Commerce Secretary Wilbur Ross said.
    "We still retain the power to shut them down again," he said Thursday in an interview on CNBC. He said the Commerce Department is fining the company $1.4 billion, including $400 million in escrow, on top of a $1 billion U.S. penalty a year ago.
    The U.S. blocked ZTE's access to U.S. suppliers in April, saying the company violated a 2017 sanctions settlement related to trading...
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  • U.S. Reaches Deal Over China's ZTE, Commerce Secretary Says

    6 monthes ago - By NY Times

    The Chinese telecommunications company has been at the center of a wide-ranging and complex trade dispute between Washington and Beijing.
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  • IT'S OFFICIAL: Trump has a deal to save Chinese tech giant ZTE from crippling sanctions

    IT'S OFFICIAL: Trump has a deal to save Chinese tech giant ZTE from crippling sanctions

    6 monthes ago - By Business Insider

    The Trump administration reached a deal to ease sanctions on Chinese tech giant ZTE, Commerce Secretary Wilbur Ross said.
    ZTE will be forced to pay a $1 billion fine, make changes to its executive team, and allow a US compliance team to oversee activities.
    The ZTE deal comes after weeks of tense negotiations between the Trump administration and the Chinese government.
    Both Republicans and Democrats criticized Trump's willingness to make a deal on ZTE.
    The US has reached an agreement to lift sanctions on Chinese telecom equipment maker ZTE, Commerce Secretary Wilbur Ross said Thursday.
    "At...
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  • ZTE fined $1 billion

    6 monthes ago - By Tech Crunch

    After much negotiation with the Trump Administration , Secretary of Commerce Wilbur Ross confirmed this morning that ZTE, the Chinese telecommunications giant, has agreed to a $1 billion fine. That penalty was assessed following an investigation showing that ZTE had violated U.S. sanctions and had provided technology to Iran and North Korea. Ross made the comments on CNBC's morning show Squawk Box.
    This was an incredible scare for ZTE. The Trump administration had previously announced that it was banning U.S. companies from selling ZTE components for seven years , components critical to...
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  • IT'S OFFICIAL: Trump has a deal to save Chinese tech giant ZTE from crippling sanctions

    IT'S OFFICIAL: Trump has a deal to save Chinese tech giant ZTE from crippling sanctions

    6 monthes ago - By Business Insider

    The Trump administration reached a deal to ease sanctions on Chinese tech giant ZTE, Commerce Secretary Wilbur Ross said.
    ZTE will be forced to pay a $1 billion fine, make changes to its executive team, and allow a US compliance team to oversee activities.
    The ZTE deal comes after weeks of tense negotiations between the Trump administration and the Chinese government.
    Both Republicans and Democrats criticized Trump's willingness to make a deal on ZTE.
    The US has reached an agreement to lift sanctions on Chinese telecom equipment maker ZTE, Commerce Secretary Wilbur Ross said Thursday.
    "At...
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  • Commerce Secretary: US reaches deal with China's ZTE

    6 monthes ago - By Chron

    NEW YORK - The United States has reached a deal with Chinese telecommunications giant ZTE Corp. that includes a $1 billion fine, according to Commerce Secretary Wilbur Ross.
    The fine comes on top of the roughly $1 billion ZTE has already paid for selling equipment to North Korea and Iran in violation of U.S. sanctions.
    Ross, speaking on CNBC on Thursday, also said that a compliance team picked by the U.S. will be embedded at ZTE.
    Last month a source familiar with the talks said that the Trump administration had struck an agreement with ZTE. The resolution of the ZTE case may clear the way...
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  • U.S. reaches deal with China's ZTE: Commerce Secretary

    6 monthes ago - By Reuters

    U.S. Commerce Secretary Wilbur Ross said on Thursday Washington had reached a deal with ZTE Corp that would lift a ban on buying from U.S. suppliers, allowing China's No. 2 telecommunications equipment maker to get back into business.
    Read more ...