Tuesday, May 28

Tag: US

China Implements New Guidelines to Ban Intel, AMD Processors in Government Computers
CHINA

China Implements New Guidelines to Ban Intel, AMD Processors in Government Computers

Beijing, 27th March 2024: China recently introduced new procurement guidelines aimed at reducing its reliance on foreign technology, specifically U.S. processors, in government computers and servers. This move effectively blocks chips from leading companies like Intel and AMD, as reported by the Financial Times. The guidelines, which were unveiled on Dec. 26 and are now in effect, also impact Microsoft's Windows operating system and foreign-made database software in favor of Chinese alternatives. Government agencies at the township level have been instructed to purchase "safe and reliable" processors and operating systems, according to the FT report. Both AMD and Intel have refrained from commenting on the matter. This development is part of China's broader efforts to bolster its do...
Ex-Binance CEO Zhao’s Lawyers Urge U.S. Judge to Reject Travel Restrictions in Money Laundering Case
USA

Ex-Binance CEO Zhao’s Lawyers Urge U.S. Judge to Reject Travel Restrictions in Money Laundering Case

NY, 25th November 2023: Lawyers representing former Binance CEO Changpeng Zhao are requesting the U.S. Department of Justice to allow him to return to his residence in the United Arab Emirates until he sentence for violating anti-money laundering regulations. In a Thursday motion, Zhao's legal team urged U.S. District Judge Richard Jones in Seattle to uphold the bail conditions set by a magistrate judge, which would permit Zhao to leave the United States while awaiting his sentencing. Changpeng Zhao, a citizen of both the UAE and Canada, resigned as the CEO of Binance after pleading guilty to knowingly causing the global cryptocurrency exchange to fail in maintaining an effective anti-money laundering program. U.S. authorities have accused Binance of violating U.S. anti-money l...
Stripe Raises $600 Million, Becomes US Most Valuable Startup
FUNDING

Stripe Raises $600 Million, Becomes US Most Valuable Startup

San Francisco, 03/15/2021: Digital payment company Stripe raises $600 million in funding at a valuation of $95 billion, The payment startup becomes US most valuable company surpasses Elon Musk's SpaceX. At the top TikTok owned ByteDance is the most valued digital company at around $180 billion in the world. Founded in 2010 by Patrick and John Collison, Stripe allows companies to accept online or in person card payments. Stripe has more than 50 companies each processing over $1 billion annually. Its list of customers includes Google, Uber and Amazon, and more recently shipping giant Maersk and Jaguar Land Rover. San Francisco and Dublin-headquartered company said it would use the capital to invest in its European operations and expand its global network. At $95 billion, Stripe ...
US Judge Suspends Trump Ban on Tiktok
USA

US Judge Suspends Trump Ban on Tiktok

Washington, 28th Sept 2020: U.S. District Judge Carl Nichols temporarily blocked President Donald Trump’s ban order on TikTok. U.S. District Judge granted a preliminary injunction against the ban on new downloads of the video-sharing network, which would have gone into effect at 11:59 p.m. in Washington. TikTok’s owner, ByteDance Ltd. applied for the hold after President Trump ordered the app ban despite of the company sold a stake in its U.S. operations to a domestic buyer. The ban would have removed TikTok from app stores run by Apple and Google. People who don’t yet have the app wouldn’t have been able to get it, and those who already have it wouldn’t have access to updates needed to ensure its safe and smooth operation. TikTok has been downloaded by more than 100 million...
US announces USD 150 million for H1B One Workforce training program
USA

US announces USD 150 million for H1B One Workforce training program

Washington, Sep 25, 2020: The United States announced USD 150 million to invest in training for middle-to-high-skilled H-1B occupations in key sectors in the American economy. Prominent among these sectors are information technology, cyber security, advanced manufacturing, transportation, wherein the H-1B One Workforce grant programme would be used to upskill the present workforce and train a new generation of workers to grow the future workforce, the Department of Labor said. The coronavirus pandemic has not only caused disruptions in the labour market, but also forced many education and training providers and employers to rethink how to deliver training, the department said in a statement. In this grant program, the department's Employment and Training Administration has set ou...
Oracle acquire TikTok US, Microsoft bid rejected
ACQUISITION

Oracle acquire TikTok US, Microsoft bid rejected

New York, Sep 15th, 2020: Satya Nadella led Microsoft lost a bid to acquire TikTok in the US after the Chinese owner of the video-sharing platform select Oracle to be its technology partner for its American operations, ahead of the September 20 deadline set by President Donald Trump that the popular app will be banned in the US if it isn't sold to an American company Microsoft said in a statement on Sunday that the Chinese owner of TikTok ByteDance has informed it that they would not be selling TikTok's US operations to Microsoft. We are confident our proposal would have been good for TikTok's users, while protecting national security interests. To do this, we would have made significant changes to ensure the service met the highest standards for security, privacy, online safety, an...
Chinese Govt complicates TikTok sale ordered by US govt
CHINA

Chinese Govt complicates TikTok sale ordered by US govt

New York, Aug 31, 2020 (AP): The Chinese government is complicating the US-government-ordered sale of US TikTok assets. China on Friday introduced export restrictions on artificial intelligence technology, seemingly including the type that TikTok uses to choose which videos to spool up to its users. That means TikTok''s Chinese owner, ByteDance, would have to obtain a license to export any restricted technologies to a foreign company. The Trump administration has threatened to ban TikTok and ordered ByteDance to sell its U.S. business, claiming national-security risks due to that Chinese ownership. The government worries about user data being funneled to Chinese authorities. TikTok denies it is a national-security risk and is suing to stop the administration from the threatened ban....
US Invest $1.6 billion in Novavax for Coronavirus Vaccine
USA

US Invest $1.6 billion in Novavax for Coronavirus Vaccine

The US government has awarded Novavax Inc $1.6 billion to cover testing and manufacturing of a potential vaccine for the novel coronavirus in the United States, with the aim of delivering 100 million doses by January. The award announced by the US Department of Health and Human Services is the biggest yet from "Operation Warp Speed," the White House initiative aimed at accelerating access to vaccines and treatments to fight Covid-19, the respiratory disease caused by the coronavirus. Shares in Gaithersburg, Maryland-based Novavax rose 29% to $102 in morning trading. "What this Warp Speed award does is it pays for production of 100 million doses, which would be delivered starting in the fourth quarter of this year, and may be completed by January or February of next year," Novavax...
US added 4.8 million jobs in June, Unemployment Rate falls to 11.1%
USA

US added 4.8 million jobs in June, Unemployment Rate falls to 11.1%

Washington, Jul 3, 2020 (AP): US employers added a substantial 4.8 million jobs in June, and the unemployment rate fell to 11.1%, as the job market improved for a second straight month, yet still remained far short of regaining the colossal losses it suffered this spring. The nation has now recovered roughly one-third of the 22 million jobs it lost to the pandemic recession, according to the Labor Department's jobs report released on Thursday. And with confirmed coronavirus cases spiking across the Sun Belt states, a range of evidence suggests that a job market recovery may be stalling. In those states and elsewhere, some restaurants, bars and other retailers that had re-opened are being forced to close again. The re-closings are keeping layoffs elevated: The number of Americans ...
Huawei Exec Arrested in Canada, Can Extradite to US
USA

Huawei Exec Arrested in Canada, Can Extradite to US

Montreal, Jan 12, 2020: Canada Department of Justice said a Huawei executive arrested in Vancouver could be extradited to the United States, because her offense is a crime in both countries, according to documents released Friday. Huawei chief financial officer Meng Wanzhou, who was originally detained on a US warrant in late 2018, faces an extradition hearing in Vancouver that begins on January 20. The United States accuses Meng of lying to banks about violating Iran sanctions. However Meng''s lawyers maintain that she cannot be turned over to the United States, because in order for that to happen, her offense would have to meet a "double criminality" standard -- meaning it is a crime in both countries. Violating US sanctions against Iran, they say, is not a crime in Canada. ...
China to Pay an Increasingly Vital Part in US companies’ Growth Plans
CHINA

China to Pay an Increasingly Vital Part in US companies’ Growth Plans

China has become an integral part of the growth plans of many US businesses, not just because of its sheer size but also due to its strategic importance. "China is actually becoming the leader in many markets and technologies that we are interested in," said Shafer, referring to digital platforms in China that help companies engage with customers. Huff, a political veteran, made these remarks in an exclusive interview after China's annual Central Economic Work Conference in Beijing. During the meeting China's top leadership reviewed the country's economic work in 2018, analyzed the current economic situation and arranged economic work for the coming year. A former California State Senator, serving from 2008 to 2016, Huff said that periodic review of real-world results from a coun...
Ballooning United States Deficit is Good News for Indian Gold Investors
Market

Ballooning United States Deficit is Good News for Indian Gold Investors

The United States federal deficit for October ballooned up to more than $100 billion, which is almost 58 percent more than the figures we had for last year. In October of 2017, the United States saw a monthly deficit of $63 billion, but the figures have gone even higher this year. The net spending by consumers in October rose by some 18 percent, whereas the receipts collected showed a meager increase of 7 percent. The Congressional Budget Office (CBO) has said that due to current ongoing projects, the federal deficit in the United States is expected to go up over the $1 trillion mark. Last time we saw the United States federal deficit cross the $1 trillion mark, gold prices made a massive jump to end at over $1,800 per ounce. Gold has not yet participated in this deficit, because ...