Japan’s SoftBank to replace Huawei equipment, Nikkei reports

Japanese mobile carrier SoftBank will be replacing its hardware from Chinese tech giant Huawei in its 4G telecommunications network infrastructure over the next few years — and will instead be using equipment from Ericsson and Nokia, Nikkei Asian Review reported on Thursday. SoftBank is also expected to place orders with the two European companies for its 5G networks, Nikkei reported. SoftBank is the only telecom carrier in Japan that uses Huawei equipment, according to the news outlet. The 5G n


Japanese mobile carrier SoftBank will be replacing its hardware from Chinese tech giant Huawei in its 4G telecommunications network infrastructure over the next few years — and will instead be using equipment from Ericsson and Nokia, Nikkei Asian Review reported on Thursday. SoftBank is also expected to place orders with the two European companies for its 5G networks, Nikkei reported. SoftBank is the only telecom carrier in Japan that uses Huawei equipment, according to the news outlet. The 5G n
Japan’s SoftBank to replace Huawei equipment, Nikkei reports Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-13  Authors: huileng tan, kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, softbank, replace, reports, japans, network, huawei, telecommunications, using, reported, 5g, nikkei, carrier, equipment


Japan's SoftBank to replace Huawei equipment, Nikkei reports

Japanese mobile carrier SoftBank will be replacing its hardware from Chinese tech giant Huawei in its 4G telecommunications network infrastructure over the next few years — and will instead be using equipment from Ericsson and Nokia, Nikkei Asian Review reported on Thursday.

SoftBank is also expected to place orders with the two European companies for its 5G networks, Nikkei reported. SoftBank is the only telecom carrier in Japan that uses Huawei equipment, according to the news outlet.

The 5G network is the next telecommunications standard that facilitates quicker transfer of data, and allows more devices to connect to the internet.


Company: cnbc, Activity: cnbc, Date: 2018-12-13  Authors: huileng tan, kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, softbank, replace, reports, japans, network, huawei, telecommunications, using, reported, 5g, nikkei, carrier, equipment


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Arrest of Huawei CFO shows ‘the gloves are now fully off,’ says Eurasia Group

The arrest of Huawei’s global chief financial officer in Canada, reportedly related to a violation of U.S. sanctions, will corrode trade negotiations between Washington and Beijing, risk consultancy Eurasia Group said Thursday. “Beijing is likely to react angrily to this latest arrest of a Chinese citizen in a third country for violating U.S. law,” Eurasia analysts wrote. Canada’s Department of Justice said on Wednesday the country arrested Meng Wanzhou in Vancouver, where she is facing extradit


The arrest of Huawei’s global chief financial officer in Canada, reportedly related to a violation of U.S. sanctions, will corrode trade negotiations between Washington and Beijing, risk consultancy Eurasia Group said Thursday. “Beijing is likely to react angrily to this latest arrest of a Chinese citizen in a third country for violating U.S. law,” Eurasia analysts wrote. Canada’s Department of Justice said on Wednesday the country arrested Meng Wanzhou in Vancouver, where she is facing extradit
Arrest of Huawei CFO shows ‘the gloves are now fully off,’ says Eurasia Group Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: huileng tan, photographer, collection, getty images, source
Keywords: news, cnbc, companies, related, statement, cfo, fully, sanctions, chinese, violation, group, trade, telecommunications, arrest, gloves, told, huawei, shows, eurasia


Arrest of Huawei CFO shows 'the gloves are now fully off,' says Eurasia Group

The arrest of Huawei’s global chief financial officer in Canada, reportedly related to a violation of U.S. sanctions, will corrode trade negotiations between Washington and Beijing, risk consultancy Eurasia Group said Thursday.

“Beijing is likely to react angrily to this latest arrest of a Chinese citizen in a third country for violating U.S. law,” Eurasia analysts wrote.

In fact, Global Times — a hyper-nationalistic tabloid tied to the Chinese Communist Party — responded to the arrest by posting on Twitter a statement about trade war escalation it attributed to an expert “close to the Chinese Ministry of Commerce.”

“China should be fully prepared for an escalation in the #tradewar with the US, as the US will not ease its stance on China, and the recent arrest of the senior executive of #Huawei is a vivid example,” said the statement, paired with a photo of opposing fists with Chinese and American flags superimposed upon them.

Canada’s Department of Justice said on Wednesday the country arrested Meng Wanzhou in Vancouver, where she is facing extradition to the U.S. The arrest is related to violations of U.S. sanctions, a person familiar with the matter told Reuters.

U.S. authorities have been probing Huawei, one of the world’s largest makers of telecommunications network equipment, since at least 2016 for allegedly shipping U.S.-origin products to Iran and other countries in violation of U.S. export and sanctions laws, sources told Reuters in April.

The analysts said the Huawei executive’s arrest will not derail the start of trade negotiations after U.S. President Donald Trump and Chinese President Xi Jinping’s meeting last weekend in Argentina saw them agree to first steps to resolve their trade dispute. Still, they acknowledged, the incident involving Chinese telecommunications giant Huawei is likely to cloud talks.


Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: huileng tan, photographer, collection, getty images, source
Keywords: news, cnbc, companies, related, statement, cfo, fully, sanctions, chinese, violation, group, trade, telecommunications, arrest, gloves, told, huawei, shows, eurasia


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US government reportedly asked allies to avoid using equipment manufactured by China’s Huawei

The U.S. government is trying to persuade wireless and internet providers in allied countries to avoid telecommunications equipment from China’s Huawei Technologies, the Wall Street Journal reported on Thursday. U.S. officials have reached out to their government counterparts and telecom executives in friendly countries where Huawei equipment is already in wide use about what they see as cybersecurity risks, according to the WSJ report , which cited unnamed people familiar with the situation. Wa


The U.S. government is trying to persuade wireless and internet providers in allied countries to avoid telecommunications equipment from China’s Huawei Technologies, the Wall Street Journal reported on Thursday. U.S. officials have reached out to their government counterparts and telecom executives in friendly countries where Huawei equipment is already in wide use about what they see as cybersecurity risks, according to the WSJ report , which cited unnamed people familiar with the situation. Wa
US government reportedly asked allies to avoid using equipment manufactured by China’s Huawei Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-22  Authors: qilai shen, bloomberg, getty images
Keywords: news, cnbc, companies, reportedly, allies, wsj, telecom, wide, asked, report, avoid, chinese, huawei, equipment, countries, using, manufactured, chinas, telecommunications, wireless


US government reportedly asked allies to avoid using equipment manufactured by China's Huawei

The U.S. government is trying to persuade wireless and internet providers in allied countries to avoid telecommunications equipment from China’s Huawei Technologies, the Wall Street Journal reported on Thursday.

U.S. officials have reached out to their government counterparts and telecom executives in friendly countries where Huawei equipment is already in wide use about what they see as cybersecurity risks, according to the WSJ report , which cited unnamed people familiar with the situation.

Huawei has come under scrutiny in the United States recently.

Intelligence agency leaders and others have said they are concerned that Huawei and other Chinese companies may be beholden to the Chinese government or ruling Communist Party, raising the risk of espionage.

Washington has been considering increasing financial aid for telecommunications development in countries that shun Chinese-made equipment, the WSJ reported.

One of the government’s concerns is based on the use of Chinese telecom equipment in countries that host U.S. military bases, such as Germany, Italy and Japan, the report added.

Huawei did not immediately respond to a Reuters request for comment.


Company: cnbc, Activity: cnbc, Date: 2018-11-22  Authors: qilai shen, bloomberg, getty images
Keywords: news, cnbc, companies, reportedly, allies, wsj, telecom, wide, asked, report, avoid, chinese, huawei, equipment, countries, using, manufactured, chinas, telecommunications, wireless


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US senators seek ‘painful’ punishment if China’s ZTE violates deal

Republican and Democratic U.S. senators introduced a bill on Tuesday that would reimpose sanctions on China’s ZTE Corp if it does not fully comply with U.S. laws and an agreement with the Trump administration that ended stiff restrictions on the telecommunications equipment company. Lawmakers have introduced several pieces of legislation since then that seek to clamp down on the company, China’s second largest telecommunications equipment maker. Senate aides said they thought this measure – focu


Republican and Democratic U.S. senators introduced a bill on Tuesday that would reimpose sanctions on China’s ZTE Corp if it does not fully comply with U.S. laws and an agreement with the Trump administration that ended stiff restrictions on the telecommunications equipment company. Lawmakers have introduced several pieces of legislation since then that seek to clamp down on the company, China’s second largest telecommunications equipment maker. Senate aides said they thought this measure – focu
US senators seek ‘painful’ punishment if China’s ZTE violates deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-18  Authors: johannes eisele, afp, getty images
Keywords: news, cnbc, companies, chinas, violates, legislation, agreement, deal, seek, trump, stiff, punishment, restrictions, introduced, senators, painful, zte, republicans, telecommunications, measure


US senators seek 'painful' punishment if China's ZTE violates deal

Republican and Democratic U.S. senators introduced a bill on Tuesday that would reimpose sanctions on China’s ZTE Corp if it does not fully comply with U.S. laws and an agreement with the Trump administration that ended stiff restrictions on the telecommunications equipment company.

President Donald Trump angered many members of Congress, including some of his fellow Republicans, in July when he decided to lift a ban on U.S. companies selling to ZTE, allowing the giant company to resume business.

Lawmakers have introduced several pieces of legislation since then that seek to clamp down on the company, China’s second largest telecommunications equipment maker. Most have failed to advance in the face of administration opposition.

Senate aides said they thought this measure – focused on adherence to an agreement reached by Trump’s Commerce Department – would get support from congressional leadership.

Among other things, the latest measure, introduced by three Republicans and three Democrats, would require reports from the Commerce Department every 90 days on ZTE’s compliance with the agreement and sharing with congressional committees ZTE audits conducted under the agreement.

If ZTE is not in compliance, it would face stiff penalties, including paying $400 million now held in escrow.

“This bipartisan legislation would ensure that if ZTE once again violates trade restrictions or its agreement with the U.S., it will be held accountable in a significant, painful way,” said Senator Mark Warner, the top Democrat on the Senate Intelligence Committee and a lead sponsor of the bill.


Company: cnbc, Activity: cnbc, Date: 2018-09-18  Authors: johannes eisele, afp, getty images
Keywords: news, cnbc, companies, chinas, violates, legislation, agreement, deal, seek, trump, stiff, punishment, restrictions, introduced, senators, painful, zte, republicans, telecommunications, measure


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A major sector shuffle is coming, and a top market watcher has a way to play it

A sector shuffle is coming and a top technician reveals the best 2 ways to play it 5:16 PM ET Mon, 17 Sept 2018 | 04:31The market is getting a makeover. The S&P 500 telecommunications sector is morphing into an all-new communications services sector, effective at the end of September; the sector shuffle has implications for shareholders of dozens of legacy and newer U.S. media, entertainment and telecommunications stocks. Ahead of the changes, one top Wall Street technician has a way to profit f


A sector shuffle is coming and a top technician reveals the best 2 ways to play it 5:16 PM ET Mon, 17 Sept 2018 | 04:31The market is getting a makeover. The S&P 500 telecommunications sector is morphing into an all-new communications services sector, effective at the end of September; the sector shuffle has implications for shareholders of dozens of legacy and newer U.S. media, entertainment and telecommunications stocks. Ahead of the changes, one top Wall Street technician has a way to profit f
A major sector shuffle is coming, and a top market watcher has a way to play it Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-18  Authors: rebecca ungarino, andrew harrer, bloomberg, getty images, patrick endres, design pics, first light, ron antonelli, kcna, thomas barwick getty images
Keywords: news, cnbc, companies, market, taketwo, discovery, sp, technician, shuffle, wald, watcher, media, trading, play, thats, coming, way, telecommunications, sector, major


A major sector shuffle is coming, and a top market watcher has a way to play it

A sector shuffle is coming and a top technician reveals the best 2 ways to play it 5:16 PM ET Mon, 17 Sept 2018 | 04:31

The market is getting a makeover.

The S&P 500 telecommunications sector is morphing into an all-new communications services sector, effective at the end of September; the sector shuffle has implications for shareholders of dozens of legacy and newer U.S. media, entertainment and telecommunications stocks.

Ahead of the changes, one top Wall Street technician has a way to profit from the move.

The new sector will combine media with telecom stocks and a select number of high-growth tech stocks. Some notable names being added to the group include Facebook and Netflix. It’s the first reorganized sector in the S&P 500 since real estate was removed from the financials sector and became the 11th sector in September 2016, according to Howard Silverblatt, senior index analyst at S&P Dow Jones Indices.

Within the newly minted group, Ari Wald, head of technical analysis at Oppenheimer, told CNBC’s “Trading Nation” on Monday that he finds Take-Two Interactive and Discovery particularly attractive names.

The year-long breakout above $122 per share in Take-Two is encouraging to Wald, who projects the stock could rocket around 23 percent higher.

“We think it measures higher to about $150, that’s taking the height of that range and projecting it from the breakout point,” he said.

The video game manufacturer has gained 20 percent this year, while shares of Discovery, the media company that owns brands like Discovery Channel and Animal Planet, have surged 43 percent in the same time.

He noted that on the chart of Discovery, the key level to watch is the $30 mark. That’s the first meaningful “higher high” since peaking at $46 in early 2014.

Careful stock selection will be key when considering investing in the new sector given the wide range of the components’ valuations, said Gina Sanchez, CEO of Chantico Global.

Growth within the streaming industry is “really driving this sector, however it’s just so richly priced. It’s hard to stomach 200-plus times forward earnings,” Sanchez said Monday on “Trading Nation,” referring to Netflix.


Company: cnbc, Activity: cnbc, Date: 2018-09-18  Authors: rebecca ungarino, andrew harrer, bloomberg, getty images, patrick endres, design pics, first light, ron antonelli, kcna, thomas barwick getty images
Keywords: news, cnbc, companies, market, taketwo, discovery, sp, technician, shuffle, wald, watcher, media, trading, play, thats, coming, way, telecommunications, sector, major


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Asia markets in positive territory as Canada rejoins NAFTA talks

Asia markets were in positive territory on Thursday morning as Wall Street extended its record high streak once again and Canada rejoined negotiations for the North American Free Trade Agreement (NAFTA). The index settled to trade 0.41 percent up, with most major sectors in positive territory. The moves come after Hutchison Telecommunications (Australia) announced that a “proposed merger of equals” had been agreed upon between TPG Telecom and Vodafone Hutchison Australia. Hutchison Telecommunica


Asia markets were in positive territory on Thursday morning as Wall Street extended its record high streak once again and Canada rejoined negotiations for the North American Free Trade Agreement (NAFTA). The index settled to trade 0.41 percent up, with most major sectors in positive territory. The moves come after Hutchison Telecommunications (Australia) announced that a “proposed merger of equals” had been agreed upon between TPG Telecom and Vodafone Hutchison Australia. Hutchison Telecommunica
Asia markets in positive territory as Canada rejoins NAFTA talks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-30  Authors: eustance huang
Keywords: news, cnbc, companies, canada, territory, positive, telecommunications, vodafone, rising, rejoins, hutchison, tpg, nafta, australia, trade, markets, talks, asia, telecom


Asia markets in positive territory as Canada rejoins NAFTA talks

Asia markets were in positive territory on Thursday morning as Wall Street extended its record high streak once again and Canada rejoined negotiations for the North American Free Trade Agreement (NAFTA).

The Nikkei 225 opened up by 0.75 percent before rising to a more than three-month high, according to Reuters. The index settled to trade 0.41 percent up, with most major sectors in positive territory. South Korea’s Kospi was largely flat in early morning trade.

Down Under, the ASX 200 was up by 0.19 percent, with the telecommunications sector rising 3.68 percent. The moves come after Hutchison Telecommunications (Australia) announced that a “proposed merger of equals” had been agreed upon between TPG Telecom and Vodafone Hutchison Australia. Hutchison Telecommunications (Australia) has a 50 percent interest in Vodafone Hutchison Australia.

Following the announcement, shares of TPG Telecom surged by 9.33 percent while Hutchison Telecommunications (Australia)’s stock soared by 44 percent as of 8:44 a.m. HK/SIN.


Company: cnbc, Activity: cnbc, Date: 2018-08-30  Authors: eustance huang
Keywords: news, cnbc, companies, canada, territory, positive, telecommunications, vodafone, rising, rejoins, hutchison, tpg, nafta, australia, trade, markets, talks, asia, telecom


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Here are 5 top telecom stock ideas from Jefferies — including T-Mobile

Jefferies shared with its clients the firm’s best current telecommunications stock picks. The firm looked for companies with below average Wall Street coverage and where its analysts are particularly optimistic over the stock’s fundamentals. “Jefferies Franchise Picks include stock selections from among the best stock ideas from our equity analysts over a 12 month period. Stock selection is based on fundamental analysis and may take into account other factors such as analyst conviction, differen


Jefferies shared with its clients the firm’s best current telecommunications stock picks. The firm looked for companies with below average Wall Street coverage and where its analysts are particularly optimistic over the stock’s fundamentals. “Jefferies Franchise Picks include stock selections from among the best stock ideas from our equity analysts over a 12 month period. Stock selection is based on fundamental analysis and may take into account other factors such as analyst conviction, differen
Here are 5 top telecom stock ideas from Jefferies — including T-Mobile Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-23  Authors: michael sheetz, mark neuling, getty images, adam jeffery, john tlumacki, the boston globe, matthew staver, bloomberg, tyrone siu, justin sullivan
Keywords: news, cnbc, companies, analysis, telecommunications, themes, jefferies, including, analysts, wall, companies, telecom, stock, best, tmobile, ideas


Here are 5 top telecom stock ideas from Jefferies — including T-Mobile

Jefferies shared with its clients the firm’s best current telecommunications stock picks.

The firm looked for companies with below average Wall Street coverage and where its analysts are particularly optimistic over the stock’s fundamentals.

“Jefferies Franchise Picks include stock selections from among the best stock ideas from our equity analysts over a 12 month period. Stock selection is based on fundamental analysis and may take into account other factors such as analyst conviction, differentiated analysis, a favorable risk/reward ratio and investment themes that Jefferies analysts are recommending.”

Here are five buy-rated telecom companies that made the Jefferies recommended list and their price targets


Company: cnbc, Activity: cnbc, Date: 2018-08-23  Authors: michael sheetz, mark neuling, getty images, adam jeffery, john tlumacki, the boston globe, matthew staver, bloomberg, tyrone siu, justin sullivan
Keywords: news, cnbc, companies, analysis, telecommunications, themes, jefferies, including, analysts, wall, companies, telecom, stock, best, tmobile, ideas


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Wall Street bull says a near-term pullback is coming

The economy is booming, but one of Wall Street’s biggest bulls says a near-term pullback is coming. “History shows that, when the rate of change for the S&P is where it recently got to on this bump up, you have a 2 to 5 percent pullback in the context of the bull market, the uptrend that started in April,” Tony Dwyer, chief market strategist at Canaccord Genuity, said Tuesday on “Fast Money.” The S&P 500 added about 0.5 percent, closing at 2,820.40 on Tuesday, with gains in materials, telecommun


The economy is booming, but one of Wall Street’s biggest bulls says a near-term pullback is coming. “History shows that, when the rate of change for the S&P is where it recently got to on this bump up, you have a 2 to 5 percent pullback in the context of the bull market, the uptrend that started in April,” Tony Dwyer, chief market strategist at Canaccord Genuity, said Tuesday on “Fast Money.” The S&P 500 added about 0.5 percent, closing at 2,820.40 on Tuesday, with gains in materials, telecommun
Wall Street bull says a near-term pullback is coming Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-07-24  Authors: kellie ell, adam jeffery
Keywords: news, cnbc, companies, market, bull, uptrend, tony, strategist, sp, telecommunications, nearterm, street, pullback, streets, coming, dwyer, wall


Wall Street bull says a near-term pullback is coming

The economy is booming, but one of Wall Street’s biggest bulls says a near-term pullback is coming.

“History shows that, when the rate of change for the S&P is where it recently got to on this bump up, you have a 2 to 5 percent pullback in the context of the bull market, the uptrend that started in April,” Tony Dwyer, chief market strategist at Canaccord Genuity, said Tuesday on “Fast Money.”

The S&P 500 added about 0.5 percent, closing at 2,820.40 on Tuesday, with gains in materials, telecommunications and energy stocks.

Still, Dwyer predicted a pullback and said it could look like a 5 to 10 percent move to the downside.

“It’s more of a pause,” he said.


Company: cnbc, Activity: cnbc, Date: 2018-07-24  Authors: kellie ell, adam jeffery
Keywords: news, cnbc, companies, market, bull, uptrend, tony, strategist, sp, telecommunications, nearterm, street, pullback, streets, coming, dwyer, wall


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US ban on China’s ZTE lifted

The U.S. Department of Commerce on Friday lifted a ban on U.S. companies selling goods to ZTE, allowing China’s second-largest telecommunications equipment maker to resume business. The Commerce Department had said it would remove the ban after ZTE paid a $1 billion penalty and placed $400 million in a U.S. bank escrow account as part of a settlement reached last month. The company was no longer on the Commerce Department’s “denied persons list” as of Friday.


The U.S. Department of Commerce on Friday lifted a ban on U.S. companies selling goods to ZTE, allowing China’s second-largest telecommunications equipment maker to resume business. The Commerce Department had said it would remove the ban after ZTE paid a $1 billion penalty and placed $400 million in a U.S. bank escrow account as part of a settlement reached last month. The company was no longer on the Commerce Department’s “denied persons list” as of Friday.
US ban on China’s ZTE lifted Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-07-13  Authors: johannes eisele, afp, getty images
Keywords: news, cnbc, companies, settlement, resume, remove, commerce, zte, telecommunications, department, lifted, secondlargest, ban, selling, chinas


US ban on China's ZTE lifted

The U.S. Department of Commerce on Friday lifted a ban on U.S. companies selling goods to ZTE, allowing China’s second-largest telecommunications equipment maker to resume business.

The Commerce Department had said it would remove the ban after ZTE paid a $1 billion penalty and placed $400 million in a U.S. bank escrow account as part of a settlement reached last month.

The company was no longer on the Commerce Department’s “denied persons list” as of Friday.


Company: cnbc, Activity: cnbc, Date: 2018-07-13  Authors: johannes eisele, afp, getty images
Keywords: news, cnbc, companies, settlement, resume, remove, commerce, zte, telecommunications, department, lifted, secondlargest, ban, selling, chinas


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Trump moves to block China Mobile’s US entry, citing national security

The U.S. government moved on Monday to block China Mobile from offering services to the U.S. telecommunications market, recommending its application be rejected because the government-owned firm posed national security risks. China Mobile, the world’s largest telecom carrier with 899 million subscribers, did not immediately respond to Reuters’ request for comment. The Trump administration’s move on China Mobile comes amid growing trade frictions between Washington and Beijing. China Mobile Commu


The U.S. government moved on Monday to block China Mobile from offering services to the U.S. telecommunications market, recommending its application be rejected because the government-owned firm posed national security risks. China Mobile, the world’s largest telecom carrier with 899 million subscribers, did not immediately respond to Reuters’ request for comment. The Trump administration’s move on China Mobile comes amid growing trade frictions between Washington and Beijing. China Mobile Commu
Trump moves to block China Mobile’s US entry, citing national security Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-07-03  Authors: zhang peng, lightrocket, getty images
Keywords: news, cnbc, companies, moves, mobiles, china, national, citing, telecommunications, ntia, application, entry, united, security, block, communications, tariffs, mobile, trump


Trump moves to block China Mobile's US entry, citing national security

The U.S. government moved on Monday to block China Mobile from offering services to the U.S. telecommunications market, recommending its application be rejected because the government-owned firm posed national security risks.

The Federal Communications Commission (FCC) should deny China Mobile’s 2011 application to offer telecommunication services between the United States and other countries, the National Telecommunications and Information Administration (NTIA) said in a statement posted on its website.

“After significant engagement with China Mobile, concerns about increased risks to U.S. law enforcement and national security interests were unable to be resolved,” said the statement, which quoted David Redl, assistant secretary for communications and information at the U.S. Department of Commerce, which NTIA is part of.

China Mobile, the world’s largest telecom carrier with 899 million subscribers, did not immediately respond to Reuters’ request for comment.

Its shares fell 2.6 percent at start of trading on Tuesday to their lowest in more than four years.

The Trump administration’s move on China Mobile comes amid growing trade frictions between Washington and Beijing.

The United States is set to impose tariffs on $34 billion worth of goods from China on July 6, which Beijing is expected to respond to with tariffs of its own.

And ZTE, China’s No. 2 telecommunications equipment maker, was forced to cease major operations in April after the U.S. slapped it with a supplier ban saying it broke an agreement to discipline executives who conspired to evade U.S. sanctions on Iran and North Korea.

ZTE is in the process of getting the ban lifted and announced a new board last week.

China Mobile Communications, a state-owned firm, owned almost 73 percent of China Mobile, according to Thomson Reuters data as of December.

In its recommendation, the NTIA said that its assessment rested “in large part on China’s record of intelligence activities and economic espionage targeting the US, along with China Mobile’s size and technical and financial resources.”

It said the company was “subject to exploitation, influence and control by the Chinese government” and that its application posed “substantial and unacceptable national security and law enforcement risks in the current national security environment”.

U.S. senators and spy chiefs warned in February that China was trying, via means such as telecommunications firms, to gain access to sensitive U.S. technologies and intellectual properties.


Company: cnbc, Activity: cnbc, Date: 2018-07-03  Authors: zhang peng, lightrocket, getty images
Keywords: news, cnbc, companies, moves, mobiles, china, national, citing, telecommunications, ntia, application, entry, united, security, block, communications, tariffs, mobile, trump


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