WeChat’s most censored topics in 2018 include US-China trade war, Huawei CFO arrest: Report

The study found that 8,092 of the approximately 11, 000 articles flagged as censored fell under the category of posts that were removed by their authors — accounting for approximately 74 percent. “Self-censorship is a common practice among internet users in China as online speech can easily bring them trouble,” Wang and Fan said in the report. “Users will often remove their own posts if they receive warning from senior colleagues or employers.” “We detected articles related to certain highly cen


The study found that 8,092 of the approximately 11, 000 articles flagged as censored fell under the category of posts that were removed by their authors — accounting for approximately 74 percent. “Self-censorship is a common practice among internet users in China as online speech can easily bring them trouble,” Wang and Fan said in the report. “Users will often remove their own posts if they receive warning from senior colleagues or employers.” “We detected articles related to certain highly cen
WeChat’s most censored topics in 2018 include US-China trade war, Huawei CFO arrest: Report Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: eustance huang, omar marques, sopa images, lightrocket, getty images
Keywords: news, cnbc, companies, authors, huawei, censored, articles, original, wechat, uschina, include, users, trade, wechats, posts, wechatscope, flagged, removed, report, cfo, publisher, war, topics


WeChat's most censored topics in 2018 include US-China trade war, Huawei CFO arrest: Report

In its findings, WeChatscope said there were four official reasons that were typically offered for a post’s removal: the original publisher deleted the post, WeChat removed it because it was found to violate a law, WeChat removed it because it was flagged by other users as breaking platform regulations, or WeChat blocked the original publisher for regularly breaking community rules.

The study found that 8,092 of the approximately 11, 000 articles flagged as censored fell under the category of posts that were removed by their authors — accounting for approximately 74 percent.

“Self-censorship is a common practice among internet users in China as online speech can easily bring them trouble,” Wang and Fan said in the report. “Users will often remove their own posts if they receive warning from senior colleagues or employers.”

In a follow up conversation over email with CNBC, a representative for the WeChatscope team said the program had yet to develop a “solid argument on self-censorship” as its research was mainly focused on systematic censorship.

“We detected articles related to certain highly censored topics which were also collectively removed by public account users. For instance, the issue of (the) US-China trade war,” they said. “In some cases, we would be skeptical to those self-removal cases that might be under pressure of overarching political censorship. However, we have to examine on a case by case basis.”

When asked about the possibility of posts being removed by their authors due to an error, WeChatscope acknowledged that it had “observed news articles that were collectively removed by authors because of misinformation.”


Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: eustance huang, omar marques, sopa images, lightrocket, getty images
Keywords: news, cnbc, companies, authors, huawei, censored, articles, original, wechat, uschina, include, users, trade, wechats, posts, wechatscope, flagged, removed, report, cfo, publisher, war, topics


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

WeChat’s most censored topics in 2018 include US-China trade war, Huawei CFO arrest: Report

The study found that 8,092 of the approximately 11, 000 articles flagged as censored fell under the category of posts that were removed by their authors — accounting for approximately 74 percent. “Self-censorship is a common practice among internet users in China as online speech can easily bring them trouble,” Wang and Fan said in the report. “Users will often remove their own posts if they receive warning from senior colleagues or employers.” “We detected articles related to certain highly cen


The study found that 8,092 of the approximately 11, 000 articles flagged as censored fell under the category of posts that were removed by their authors — accounting for approximately 74 percent. “Self-censorship is a common practice among internet users in China as online speech can easily bring them trouble,” Wang and Fan said in the report. “Users will often remove their own posts if they receive warning from senior colleagues or employers.” “We detected articles related to certain highly cen
WeChat’s most censored topics in 2018 include US-China trade war, Huawei CFO arrest: Report Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: eustance huang, omar marques, sopa images, lightrocket, getty images
Keywords: news, cnbc, companies, authors, huawei, censored, articles, original, wechat, uschina, include, users, trade, wechats, posts, wechatscope, flagged, removed, report, cfo, publisher, war, topics


WeChat's most censored topics in 2018 include US-China trade war, Huawei CFO arrest: Report

In its findings, WeChatscope said there were four official reasons that were typically offered for a post’s removal: the original publisher deleted the post, WeChat removed it because it was found to violate a law, WeChat removed it because it was flagged by other users as breaking platform regulations, or WeChat blocked the original publisher for regularly breaking community rules.

The study found that 8,092 of the approximately 11, 000 articles flagged as censored fell under the category of posts that were removed by their authors — accounting for approximately 74 percent.

“Self-censorship is a common practice among internet users in China as online speech can easily bring them trouble,” Wang and Fan said in the report. “Users will often remove their own posts if they receive warning from senior colleagues or employers.”

In a follow up conversation over email with CNBC, a representative for the WeChatscope team said the program had yet to develop a “solid argument on self-censorship” as its research was mainly focused on systematic censorship.

“We detected articles related to certain highly censored topics which were also collectively removed by public account users. For instance, the issue of (the) US-China trade war,” they said. “In some cases, we would be skeptical to those self-removal cases that might be under pressure of overarching political censorship. However, we have to examine on a case by case basis.”

When asked about the possibility of posts being removed by their authors due to an error, WeChatscope acknowledged that it had “observed news articles that were collectively removed by authors because of misinformation.”


Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: eustance huang, omar marques, sopa images, lightrocket, getty images
Keywords: news, cnbc, companies, authors, huawei, censored, articles, original, wechat, uschina, include, users, trade, wechats, posts, wechatscope, flagged, removed, report, cfo, publisher, war, topics


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Crypto exchange Binance profitable despite bear market, CFO says

Binance, the world’s largest cryptocurrency exchange by trading volume, is still profitable despite last year’s market meltdown, its chief financial officer said. Bitcoin, the most valuable crypto, is down 80 percent from a near-$20,000 record high it set in December 2017. “To date, even in this bear market, we still run a profitable business,” Binance CFO Wei Zhou told CNBC in a phone interview Wednesday. The company doesn’t disclose its financials publicly, he said, and media outlets have been


Binance, the world’s largest cryptocurrency exchange by trading volume, is still profitable despite last year’s market meltdown, its chief financial officer said. Bitcoin, the most valuable crypto, is down 80 percent from a near-$20,000 record high it set in December 2017. “To date, even in this bear market, we still run a profitable business,” Binance CFO Wei Zhou told CNBC in a phone interview Wednesday. The company doesn’t disclose its financials publicly, he said, and media outlets have been
Crypto exchange Binance profitable despite bear market, CFO says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: ryan browne, yu chun christopher wong, getty images
Keywords: news, cnbc, companies, crypto, bear, startups, profitable, exchange, publicly, million, cfo, told, binance, net, market, estimates, despite


Crypto exchange Binance profitable despite bear market, CFO says

Binance, the world’s largest cryptocurrency exchange by trading volume, is still profitable despite last year’s market meltdown, its chief financial officer said.

Last year saw the prices of major virtual currencies plunge dramatically. Bitcoin, the most valuable crypto, is down 80 percent from a near-$20,000 record high it set in December 2017.

“To date, even in this bear market, we still run a profitable business,” Binance CFO Wei Zhou told CNBC in a phone interview Wednesday.

The company doesn’t disclose its financials publicly, he said, and media outlets have been publishing estimates based on publicly available metrics.

One report, by industry publication The Block, estimates Binance made $446 million last year, based on an analysis of how much it spent to buy back units of its token, called BNB, using its net profits.

The start-up’s Chief Executive Changpeng Zhao told Bloomberg in July that Binance was targeting a net profit of between $500 million and $1 billion in 2018.

The company has only been around since July 2017, but has become a dominant force in the nascent sector. It raised $15 million in its initial coin offering — a funding alternative to venture capital where start-ups sell new crypto tokens instead of equity.


Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: ryan browne, yu chun christopher wong, getty images
Keywords: news, cnbc, companies, crypto, bear, startups, profitable, exchange, publicly, million, cfo, told, binance, net, market, estimates, despite


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Crypto exchange Binance profitable despite bear market, CFO says

Binance, the world’s largest cryptocurrency exchange by trading volume, is still profitable despite last year’s market meltdown, its chief financial officer said. Bitcoin, the most valuable crypto, is down 80 percent from a near-$20,000 record high it set in December 2017. “To date, even in this bear market, we still run a profitable business,” Binance CFO Wei Zhou told CNBC in a phone interview Wednesday. The company doesn’t disclose its financials publicly, he said, and media outlets have been


Binance, the world’s largest cryptocurrency exchange by trading volume, is still profitable despite last year’s market meltdown, its chief financial officer said. Bitcoin, the most valuable crypto, is down 80 percent from a near-$20,000 record high it set in December 2017. “To date, even in this bear market, we still run a profitable business,” Binance CFO Wei Zhou told CNBC in a phone interview Wednesday. The company doesn’t disclose its financials publicly, he said, and media outlets have been
Crypto exchange Binance profitable despite bear market, CFO says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: ryan browne, yu chun christopher wong, getty images
Keywords: news, cnbc, companies, crypto, bear, startups, profitable, exchange, publicly, million, cfo, told, binance, net, market, estimates, despite


Crypto exchange Binance profitable despite bear market, CFO says

Binance, the world’s largest cryptocurrency exchange by trading volume, is still profitable despite last year’s market meltdown, its chief financial officer said.

Last year saw the prices of major virtual currencies plunge dramatically. Bitcoin, the most valuable crypto, is down 80 percent from a near-$20,000 record high it set in December 2017.

“To date, even in this bear market, we still run a profitable business,” Binance CFO Wei Zhou told CNBC in a phone interview Wednesday.

The company doesn’t disclose its financials publicly, he said, and media outlets have been publishing estimates based on publicly available metrics.

One report, by industry publication The Block, estimates Binance made $446 million last year, based on an analysis of how much it spent to buy back units of its token, called BNB, using its net profits.

The start-up’s Chief Executive Changpeng Zhao told Bloomberg in July that Binance was targeting a net profit of between $500 million and $1 billion in 2018.

The company has only been around since July 2017, but has become a dominant force in the nascent sector. It raised $15 million in its initial coin offering — a funding alternative to venture capital where start-ups sell new crypto tokens instead of equity.


Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: ryan browne, yu chun christopher wong, getty images
Keywords: news, cnbc, companies, crypto, bear, startups, profitable, exchange, publicly, million, cfo, told, binance, net, market, estimates, despite


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Sonos tanks after disclosing CFO Michael Giannetto will retire this year

Sonos plunged more than 11 percent in after hours trading Wednesday after reporting its Q1 2019 earnings and announcing its Chief Financial Officer Michael Giannetto plans to retire. In an SEC filing, the company said Giannetto will continue in his role until the company appoints a successor. Sonos reported earnings per share of $0.55 versus $0.41 expected by analysts, per Refinitiv, and quarterly revenue of $496 million versus $491 million expected. “So, while we believe we benefited from consu


Sonos plunged more than 11 percent in after hours trading Wednesday after reporting its Q1 2019 earnings and announcing its Chief Financial Officer Michael Giannetto plans to retire. In an SEC filing, the company said Giannetto will continue in his role until the company appoints a successor. Sonos reported earnings per share of $0.55 versus $0.41 expected by analysts, per Refinitiv, and quarterly revenue of $496 million versus $491 million expected. “So, while we believe we benefited from consu
Sonos tanks after disclosing CFO Michael Giannetto will retire this year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: lauren feiner, todd haselton
Keywords: news, cnbc, companies, sonos, retire, europe, million, michael, company, voice, tanks, expected, slower, cfo, growth, disclosing, revenue, giannetto, versus


Sonos tanks after disclosing CFO Michael Giannetto will retire this year

Sonos plunged more than 11 percent in after hours trading Wednesday after reporting its Q1 2019 earnings and announcing its Chief Financial Officer Michael Giannetto plans to retire.

In an SEC filing, the company said Giannetto will continue in his role until the company appoints a successor.

Sonos reported earnings per share of $0.55 versus $0.41 expected by analysts, per Refinitiv, and quarterly revenue of $496 million versus $491 million expected. The company reaffirmed guidance for its 2019 fiscal year, which ends Sept. 30: It expects EBITDA of $83 million to $88 million on revenue of $1.25 billion to $1.28 billion.

Sonos was an early pioneer in wireless home audio, but faces increasing competition from lower-priced offerings from tech giants like Google, Amazon, and Apple. The company made its public market debut last August, and shares are down about 30% from that time.

In a letter to investors, Sonos said its growth in Europe was slower than expected since the growing adoption of voice in the region was skewed toward low-priced products.

“So, while we believe we benefited from consumers upgrading to Sonos in North America, our growth in Europe was slower as voice is in an earlier stage of adoption,” Sonos wrote. “As European consumers increasingly embrace voice technology, we are optimistic we will benefit from a similar step-up trend in Europe in the future.”

Watch: Sonos CEO: We’re not focused on pushing one particular voice or music streaming service


Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: lauren feiner, todd haselton
Keywords: news, cnbc, companies, sonos, retire, europe, million, michael, company, voice, tanks, expected, slower, cfo, growth, disclosing, revenue, giannetto, versus


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Amazon stock falls after CFO says regulation in India and increased spending on the horizon

The stock took a steep turn during the company’s call with analysts when Amazon CFO Brian Olsavsky said Amazon plans to increase investments this year after scaling back capital expenditures and hiring the year prior. The company’s market value hovered around $800 billion Friday morning, and briefly fell below $800 billion in early trading. Amazon expects revenue for Q1 between $56 billion and $60 billion, slightly below the $60.8 billion consensus estimated by FactSet. J.P. Morgan’s Doug Anmuth


The stock took a steep turn during the company’s call with analysts when Amazon CFO Brian Olsavsky said Amazon plans to increase investments this year after scaling back capital expenditures and hiring the year prior. The company’s market value hovered around $800 billion Friday morning, and briefly fell below $800 billion in early trading. Amazon expects revenue for Q1 between $56 billion and $60 billion, slightly below the $60.8 billion consensus estimated by FactSet. J.P. Morgan’s Doug Anmuth
Amazon stock falls after CFO says regulation in India and increased spending on the horizon Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-01  Authors: lauren feiner, jim watson, afp, getty images
Keywords: news, cnbc, companies, companys, cfo, uncertainty, regulation, price, revenue, amazon, billion, increased, stock, 2019, falls, india, value, spending, horizon


Amazon stock falls after CFO says regulation in India and increased spending on the horizon

Amazon fell 4 percent Friday morning after the company announced on a call with investors it would likely increase investment in 2019 and raised concerns about new regulation in India.

Amazon’s stock initially popped after hours on its fourth quarter 2018 earnings report Thursday. The stock took a steep turn during the company’s call with analysts when Amazon CFO Brian Olsavsky said Amazon plans to increase investments this year after scaling back capital expenditures and hiring the year prior.

The company’s market value hovered around $800 billion Friday morning, and briefly fell below $800 billion in early trading. At one point last year, the stock hit $1 trillion in market value during intraday trading.

In notes following the report, analysts expressed concern about increased expenditures and a new law in India that will soon come into effect preventing foreign online retailers from selling products through affiliated companies. Amazon’s roadblocks in India have contributed to slowing international sales growth and may have influenced the company’s light guidance for the first quarter of 2019. Amazon expects revenue for Q1 between $56 billion and $60 billion, slightly below the $60.8 billion consensus estimated by FactSet.

“There is much uncertainty as to what the impact of the government rule change is going to have on the e-commerce sector there,” Olsavsky said on the call. “Our main issue and our main concern is trying to minimize the impact to our customers and sellers in India.”

Analysts largely seemed confident in the stock despite slightly lowering their price targets.

J.P. Morgan’s Doug Anmuth lowered his price target, writing, “Uncertainty in India, along w/a higher 4Q base, takes early 2019 revenue acceleration off the table… But we still expect AMZN to grow revenue 18% FXN for the year and operating income by 30%. And we want AMZN to invest into long-term growth opportunities…”

Deutsche Bank’s Lloyd Walmsley, on the other hand, raised his price target and said, “We think Amazon is ultimately going to substantially expand its physical footprint and push further into healthcare and shipping/logistics, opening up its addressable markets further. Notwithstanding the volatility in the shares, we think valuations remain compelling..”

-CNBC’s Eugene Kim contributed to this report.

Subscribe to CNBC on YouTube.

Watch: Amazon beat on earnings and revenues—here’s what three experts are saying about the stock now


Company: cnbc, Activity: cnbc, Date: 2019-02-01  Authors: lauren feiner, jim watson, afp, getty images
Keywords: news, cnbc, companies, companys, cfo, uncertainty, regulation, price, revenue, amazon, billion, increased, stock, 2019, falls, india, value, spending, horizon


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

PayPal CFO addresses 3 pain points in earnings: eBay, currency and ‘pockets’ of slower growth

Wall Street’s relative disappointment with PayPal’s fourth-quarter earnings report — with the exception of the almost-profitable Venmo — may have stemmed from the company’s forward guidance, CFO John Rainey told CNBC on Thursday. But there were three potential pain points in PayPal’s first-quarter guidance that were worth addressing, Rainey told CNBC’s Jim Cramer after the financial technology company’s shares dropped 3.96 percent. “There’s probably three things that stand out that are impacting


Wall Street’s relative disappointment with PayPal’s fourth-quarter earnings report — with the exception of the almost-profitable Venmo — may have stemmed from the company’s forward guidance, CFO John Rainey told CNBC on Thursday. But there were three potential pain points in PayPal’s first-quarter guidance that were worth addressing, Rainey told CNBC’s Jim Cramer after the financial technology company’s shares dropped 3.96 percent. “There’s probably three things that stand out that are impacting
PayPal CFO addresses 3 pain points in earnings: eBay, currency and ‘pockets’ of slower growth Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-31  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, pressure, slower, earnings, growth, told, companys, ebay, pockets, paypals, business, currency, rainey, tied, points, pain, cfo, paypal


PayPal CFO addresses 3 pain points in earnings: eBay, currency and 'pockets' of slower growth

Wall Street’s relative disappointment with PayPal’s fourth-quarter earnings report — with the exception of the almost-profitable Venmo — may have stemmed from the company’s forward guidance, CFO John Rainey told CNBC on Thursday.

In an exclusive “Mad Money” interview after PayPal’s report, Rainey emphasized that management was “really pleased” with the fourth-quarter results, highlighting the company’s 26-percent earnings per share growth and its record-breaking net new customer additions.

But there were three potential pain points in PayPal’s first-quarter guidance that were worth addressing, Rainey told CNBC’s Jim Cramer after the financial technology company’s shares dropped 3.96 percent.

“There’s probably three things that stand out that are impacting us, and, in order, eBay is the first,” the CFO said of PayPal’s former parent company. “We still have 10 percent of the volume on our platform, which is eBay’s business. And, as eBay has discussed, they’re expecting slower growth, so that has an impact on our business.”

Issue No. 2 for the San Jose, California-based company has to do with the strength of the U.S. dollar, Rainey said.

“We have foreign currency pressure,” he said, referring to the problem of foreign earnings translating into fewer U.S. dollars due to the dollar’s strength against other currencies.

Because about 20 percent of PayPal’s business is “cross-border,” a stronger dollar tends to put some pressure on its global earnings, Rainey explained.

“And then lastly, and somewhat tied to the currency pressure, is there are pockets in regions of the world right now where we see slower growth than we did at this point in time last year,” the CFO told Cramer.

But while these potential weaknesses may persist in early 2019, PayPal is seeing longer-term tailwinds tied to the rise of digital payments and the number of people with mobile phones who don’t have easy access to traditional financial services, Rainey said.

“I do believe that this is not going to be a winner-take-all game,” he said of the mobile payments space. “I also believe that, with the secular tailwinds that we see in our business, there is a bit of a tendency of a rising tide lifting all ships. But we’re in an excellent competitive position here.”


Company: cnbc, Activity: cnbc, Date: 2019-01-31  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, pressure, slower, earnings, growth, told, companys, ebay, pockets, paypals, business, currency, rainey, tied, points, pain, cfo, paypal


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

US files criminal charges in two Huawei cases, seeks extradition of CFO Meng Wanzhou

The U.S. Department of Justice filed criminal charges Monday against Meng Wanzhou, the chief financial officer of China tech giant Huawei and the daughter of its founder and president Ren Zhengfei. The Justice Department also announced charges Monday against Huawei for allegedly stealing trade secrets from T-Mobile. The charges stem from a civil trade secrets lawsuit filed by T-Mobile in 2014 over a robot called “Tappy,” which was used in testing smartphones. Acting Attorney General Matthew Whit


The U.S. Department of Justice filed criminal charges Monday against Meng Wanzhou, the chief financial officer of China tech giant Huawei and the daughter of its founder and president Ren Zhengfei. The Justice Department also announced charges Monday against Huawei for allegedly stealing trade secrets from T-Mobile. The charges stem from a civil trade secrets lawsuit filed by T-Mobile in 2014 over a robot called “Tappy,” which was used in testing smartphones. Acting Attorney General Matthew Whit
US files criminal charges in two Huawei cases, seeks extradition of CFO Meng Wanzhou Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-28  Authors: kate fazzini
Keywords: news, cnbc, companies, meng, extradition, secrets, seeks, trade, charges, wanzhou, request, files, cfo, department, company, cases, huawei, criminal, justice


US files criminal charges in two Huawei cases, seeks extradition of CFO Meng Wanzhou

The U.S. Department of Justice filed criminal charges Monday against Meng Wanzhou, the chief financial officer of China tech giant Huawei and the daughter of its founder and president Ren Zhengfei.

The Justice Department also announced charges Monday against Huawei for allegedly stealing trade secrets from T-Mobile. The charges stem from a civil trade secrets lawsuit filed by T-Mobile in 2014 over a robot called “Tappy,” which was used in testing smartphones.

Acting Attorney General Matthew Whitaker confirmed during a press conference that the Justice Department is seeking the extradition of Meng Wanzhou from Canada.

“We plan to file our formal extradition request and all the necessary documentation under the extradition treaty in the appropriate time frame,” Whitaker said. There is a Jan. 30 deadline for the request to be submitted.

Huawei said in a statement provided to CNBC that it was “disappointed to learn of the charges brought against the company today.” Here’s the rest of that statement:

After Ms. Meng’s arrest, the Company sought an opportunity to discuss the Eastern District of New York investigation with the Justice Department, but the request was rejected without explanation. The allegations in the Western District of Washington trade secret indictment were already the subject of a civil suit that was settled by the parties after a Seattle jury found neither damages nor willful and malicious conduct on the trade secret claim. The Company denies that it or its subsidiary or affiliate have committed any of the asserted violations of U.S. law set forth in each of the indictments, is not aware of any wrongdoing by Ms. Meng, and believes the U.S. courts will ultimately reach the same conclusion.

China, meanwhile, said through an industry ministry official that the indictment against the company is unfair and immoral, according to Reuters.

FBI, DHS and Commerce officials announced the two actions on Monday, saying the allegations go back more than a decade. “Huawei and its senior executives repeatedly refused to respect U.S. law,” said FBI Director Christopher Wray, in Monday’s press conference. “Huawei … systematically sought to steal valuable trade secrets.”


Company: cnbc, Activity: cnbc, Date: 2019-01-28  Authors: kate fazzini
Keywords: news, cnbc, companies, meng, extradition, secrets, seeks, trade, charges, wanzhou, request, files, cfo, department, company, cases, huawei, criminal, justice


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

US files criminal charges in two Huawei cases, seeks extradition of CFO Meng Wanzhou

Huawei and Meng allegedly committed fraud by lying to banks, misrepresenting their relationship with Skycom and whether they were improperly transferring U.S. technology assets and money between Iran and the company. The document also gives clues as to why Meng herself was arrested in Canada, and how the U.S. will position its request for her extradition from Vancouver. The allegations say Meng traveled through New York’s JFK airport in early 2014, “several months” after meeting with an executiv


Huawei and Meng allegedly committed fraud by lying to banks, misrepresenting their relationship with Skycom and whether they were improperly transferring U.S. technology assets and money between Iran and the company. The document also gives clues as to why Meng herself was arrested in Canada, and how the U.S. will position its request for her extradition from Vancouver. The allegations say Meng traveled through New York’s JFK airport in early 2014, “several months” after meeting with an executiv
US files criminal charges in two Huawei cases, seeks extradition of CFO Meng Wanzhou Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-28  Authors: kate fazzini, alexander bibik
Keywords: news, cnbc, companies, relationship, wanzhou, files, iran, seeks, charges, company, extradition, talking, huawei, united, meng, skycom, suggested, cases, banks, criminal, cfo


US files criminal charges in two Huawei cases, seeks extradition of CFO Meng Wanzhou

The U.S. Eastern District office alleges Meng, the company and a Hong Kong-based subsidiary called Skycom Technologies committed wire fraud, obstructed justice, conspired to launder money and violated the International Emergency Economic Powers Act (IEEPA) by doing business with sanctioned Iran.

Huawei and Meng allegedly committed fraud by lying to banks, misrepresenting their relationship with Skycom and whether they were improperly transferring U.S. technology assets and money between Iran and the company. It is illegal for banks to knowingly allow financial transfers that involve countries sanctioned under IEEPA.

“Had the [banks] known about Huawei’s repeated violations of the [Iran sanctions] they would have reevaluated their banking relationshipos with Huawei, including the provision of U.S.-dollar and Euro clearing service to Huawei,” the indictment reads.

The document also gives clues as to why Meng herself was arrested in Canada, and how the U.S. will position its request for her extradition from Vancouver. The allegations say Meng traveled through New York’s JFK airport in early 2014, “several months” after meeting with an executive from one of the banks.

She allegedly had on one of her electronic devices a text of “suggested talking points,” according to the Justice Department, which read in part: “The core of the suggested talking points regarding Iran/Skycom: Huawei’s operation in Iran comports with the laws, regulations and sancations as required by the United Nations, the United States and the European Union.”

That financial institution later decided to sever its relationship with Huawei over its possible Iranian relationships through Skycom. The company also then went on to misrepresent the reasons for that bank ending the relationship, according to the indictment.


Company: cnbc, Activity: cnbc, Date: 2019-01-28  Authors: kate fazzini, alexander bibik
Keywords: news, cnbc, companies, relationship, wanzhou, files, iran, seeks, charges, company, extradition, talking, huawei, united, meng, skycom, suggested, cases, banks, criminal, cfo


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Trump’s intervention ‘complicates’ Huawei CFO extradition: Former US ambassador to China

A former U.S. ambassador to China says that linking the trade dispute to national security issues will only make things more complicated for American authorities preparing a formal request to extradite a senior Huawei executive. Huawei CFO Meng Wanzhou was arrested in Canada on Dec. 1, at the request of U.S. authorities who say her company violated U.S. sanctions on Iran and may have made illegal transactions with HSBC. She is currently on bail but the U.S. has until the end of January to file a


A former U.S. ambassador to China says that linking the trade dispute to national security issues will only make things more complicated for American authorities preparing a formal request to extradite a senior Huawei executive. Huawei CFO Meng Wanzhou was arrested in Canada on Dec. 1, at the request of U.S. authorities who say her company violated U.S. sanctions on Iran and may have made illegal transactions with HSBC. She is currently on bail but the U.S. has until the end of January to file a
Trump’s intervention ‘complicates’ Huawei CFO extradition: Former US ambassador to China Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-24  Authors: saheli roy choudhury, cameron costa, -max baucus, former us ambassador to china
Keywords: news, cnbc, companies, huawei, trade, national, request, intervention, cfo, extradition, complicates, security, meng, trumps, china, issues, mistake, ambassador


Trump's intervention 'complicates' Huawei CFO extradition: Former US ambassador to China

A former U.S. ambassador to China says that linking the trade dispute to national security issues will only make things more complicated for American authorities preparing a formal request to extradite a senior Huawei executive.

Huawei CFO Meng Wanzhou was arrested in Canada on Dec. 1, at the request of U.S. authorities who say her company violated U.S. sanctions on Iran and may have made illegal transactions with HSBC. She is currently on bail but the U.S. has until the end of January to file an extradition request.

“I think it’s always a mistake to try to link trade issues with national security issues,” Max Baucus, a former U.S. ambassador to China, told CNBC’s “Squawk Box” on Thursday.

“They should not be mixed together generally and, unfortunately, as (Canada’s) Ambassador McCallum said, President (Donald) Trump has suggested linkage that he may not seek extradition of Meng in exchange for China behaving, in Trump’s view, on trade. That’s a big mistake,” Baucus said.


Company: cnbc, Activity: cnbc, Date: 2019-01-24  Authors: saheli roy choudhury, cameron costa, -max baucus, former us ambassador to china
Keywords: news, cnbc, companies, huawei, trade, national, request, intervention, cfo, extradition, complicates, security, meng, trumps, china, issues, mistake, ambassador


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post