companies

China’s state chip fund to cut stakes in two more tech companies

SHANGHAI (Reuters) – China’s largest state-backed semiconductor fund plans to reduce its holdings in two listed technology companies, a decision that comes following a torrid bull run in China’s stock market.

The bull run, encouraged by state media, has been fueled by signs of an early economic recovery for China from the coronavirus, capital market reforms and accelerating inflows of foreign funds.

Sanan Optoelectronics Co Ltd (600703.SS) said in a filing on Tuesday that China Integrated Circuit Industry Investment Fund, also known as the ‘Big Fund’, reduced its ownership in the company by one percentage point to 9.29%, selling 44.793 million shares between July 8 and July 10.

The stake reduction is part of a previously announced plan to cut holdings by 2% by Jan. 4, 2021, according to the statement.

NAURA Technology Group Co Ltd (002371.SZ) also said in a filing that the ‘Big Fund’

Read More

Exclusive: U.S. finalizing federal contract ban for companies that use Huawei, others

WASHINGTON (Reuters) – The Trump administration plans to finalize regulations this week that will bar the U.S. government from buying goods or services from any company that uses products from five Chinese companies including Huawei, Hikvision and Dahua, a U.S. official said.

FILE PHOTO: The Huawei logo is pictured at the IFA consumer tech fair in Berlin, Germany, September 6, 2019. REUTERS/Hannibal Hanschke/File Photo

The rule, which was prompted by a 2019 law, could have far-ranging implications for companies that sell goods and services to the U.S. government since they will now need to certify they do not use products from Dahua or Hikvision, even though both are among the top sellers of surveillance equipment and cameras worldwide.

The same goes for two-way radios from Hytera Communications Corp (002583.SZ) and telecommunications equipment or mobile devices like smartphones from Huawei Technologies or ZTE Corp (000063.SZ).

Any company

Read More

Tech companies suspend processing Hong Kong government data requests

FILE PHOTO: The Whatsapp logo and binary cyber codes are seen in this illustration taken November 26, 2019. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) – Facebook Inc (FB.O), Google Inc and Twitter Inc (TWTR.N) suspended processing government requests for user data in Hong Kong, they said on Monday, following China’s establishment of a sweeping new national security law for the semi-autonomous city.

Facebook, which also owns WhatsApp and Instagram, said in a statement it was “pausing” reviews for all of its services “pending further assessment of the National Security Law.”

Google, a unit of Alphabet Inc (GOOGL.O), and Twitter said they suspended their reviews of data requests from Hong Kong authorities immediately after the law went into effect last week. Twitter cited “grave concerns” about the law’s implications.

Google said it would continue reviewing Hong Kong government requests for removals of user-generated content from its services.

Read More

Google stymies media companies from chipping away at its data dominance

OAKLAND, Calif. (Reuters) – Alphabet Inc’s (GOOGL.O) Google upended plans by European media companies to block it from harvesting data about their readers and slash some of its dominance in online advertising, seven people involved in the talks said this month.

FILE PHOTO: People walk past the logo of Google in Davos, Switzerland January 22, 2020. REUTERS/Arnd Wiegmann/File Photo

Publishers had expected to use data privacy measures going into effect Aug. 15 to bar Google from storing insights about readers, sapping the data advantage that has enabled it to dominate a market filled with advertisers hungry for information to target potential customers.

But Google said it will cut off publishers from a lucrative flow of ads if they follow through with curbing its data collection. Negotiations continue, but Google holds greater leverage because it dominates in both advertising tools and access to advertisers within the $100 billion annual

Read More