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Huawei is said to win another 90 days reprieve to buy from American suppliers

The US Commerce Department is expected to extend a reprieve given to Huawei Technologies that permits the Chinese firm to buy supplies from US companies so that it can service existing customers, two sources familiar with the situation said.The “temporary general license” will be extended for Huawei for 90 days, the sources said.Commerce initially allowed Huawei to purchase some American-made goods in May soon after blacklisting the company in a move aimed at minimising disruption for its… Source link

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China 

A miserable Year of the Pig for China’s hogs is godsend for American farmers

In China, pigs symbolise wealth. And 2019, being the Year of the Pig, was supposed to be a great year to make money. Instead, the nation’s 26 million hog farmers are battling the deadly African swine fever epidemic that is in its second year now.The virus, harmless to humans, has spread across 32 of the nation’s 34 administrative regions since the outbreak was first reported in August 2018, affecting a large portion of the nation’s 348 million strong swine inventory, according to Rabobank.“We… Source link

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Investment 

American Chamber of Commerce in China says smoothly functioning commerce in Hong Kong ‘fundamentally important’

An influential American business group in China said that a “smoothly functioning” system of commerce in Hong Kong was “fundamentally important” to the business interests of its members in the mainland.The comments by the American Chamber of Commerce in China come as business in the city has faced disruptions over the past nine weeks as protests and civil unrest over a now-suspended extradition bill have blocked streets, shut down parts of the city’s transit system and forced the cancellation… Source link

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China 

Surplus pork is biting US hog markets as trade war turns the world’s biggest customer away from American farmers

Trade concerns are starting to make all other factors in the hog market look obsolete.Futures have tumbled to the lowest since March. That’s as African swine fever decimates China’s pig herd in an unprecedented global supply disruption.Even though the Asian nation is importing huge amounts of meat, American producers are losing out to rivals in Brazil and elsewhere because of Donald Trump’s trade war. What’s more, the US president’s threat of additional tariffs is sparking concerns that a deal… Source link

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KKR pays US$2.2 billion for Tim Tam maker Arnott’s as Campbell Soup retreats to focus on core North American market

Kohlberg Kravis Roberts (KKR) said on Friday that it had agreed to acquire Arnott’s, the Australian maker of Tim Tam chocolate biscuits, and other Asia-Pacific operations of Campbell Soup Company in its latest bet on the consumer market.The stocks and asset purchase agreement valued those businesses at US$2.2 billion, the private equity giant said.“Campbell International represents a unique portfolio of iconic brands that are known and loved by consumers in Australia and across the world,”… Source link

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Global 

As US-China trade talks resume, how much demand does Beijing have for American farm goods?

With negotiators from China and the United States set to have their first face-to-face talks since May next week, the likelihood of a large Chinese purchase of American agricultural goods appears to be growing.US President Donald Trump met with technology executives in Washington on Monday, amid expectations that he will ease the ban on US companies supplying components to Chinese telecommunications giant Huawei. Chinese officials have said that an easing of the Huawei ban was a precondition… Source link

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China 

Trade war is harming American economy more than China’s, claims official sent to US to defend Beijing’s position

The United States has sustained more economic losses than China related to the year-long trade war, a Chinese government official sent to the US to defend Beijing’s position in the stand-off and seek input from foreign policy specialists said on Wednesday.China’s slower economic growth is due more to government efforts to cut manufacturing overcapacity and rebalance towards a service economy and less about the trade war, Bi Jiyao, vice-president of the Chinese Academy of Macroeconomic Research,… Source link

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DJI hit by American technology supplier’s ban on Chinese-made drones over security concerns

A supplier of drone technology to dozens of state and local law enforcement and public safety agencies, located in the United States and a handful of other countries, will stop working with Chinese drone manufacturers, citing security concerns.Cape Productions, a Redwood City, California-based start-up, plans to tell customers on Wednesday in the US that it will stop selling software compatible with Chinese drones to its clients, most of whom use the tools to remotely dispatch and operate the… Source link

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Singapore 

Ngee Ann City fall victim was American citizen, Singapore News

SINGAPORE – The United States Embassy has confirmed the death of an American citizen in Singapore, following a query from The Straits Times in relation to a man who died after falling several storeys in Ngee Ann City on Sunday (July 14). On Tuesday, embassy spokesman Cain Harrelson said: “We can confirm the death of a US citizen in Singapore. “When a US citizen dies abroad, the department provides all appropriate consular assistance to the family. Out of respect for the privacy of the family, we have no further comment at this time.”…

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Here’s how American chip makers pressed Trump’s administration to ease US export controls for Huawei Technologies

President Donald Trump’s decision to allow US companies to continue selling to Huawei followed an extensive lobbying campaign by the US semiconductor industry that argued the ban could hurt America’s economic and national security.In multiple high-level meetings and a letter to the Commerce Department, the companies argued for targeted action against Huawei Technologies instead of the blanket ban the Trump administration imposed in May. That includes identifying specific technologies that the… Source link

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