Huawei may demand more royalties from US firms that rely on its patented tech

Last week, Reuters reported that Huawei had asked Verizon to pay $1 billion in royalties for more than 230 of Huawei’s patents. Ren Zhengfei, the company’s CEO and founder, said this week that Huawei could seek royalties from more firms. How are firms using Huawei patents? “Huawei knows … enforcing patents and asking for royalties is expensive and also not their main business,” Pohlmann told CNBC. Huawei CEO told CNBC on Wednesday that if Senator Rubio’s law was passed, it would hurt America’s


Last week, Reuters reported that Huawei had asked Verizon to pay $1 billion in royalties for more than 230 of Huawei’s patents. Ren Zhengfei, the company’s CEO and founder, said this week that Huawei could seek royalties from more firms. How are firms using Huawei patents? “Huawei knows … enforcing patents and asking for royalties is expensive and also not their main business,” Pohlmann told CNBC. Huawei CEO told CNBC on Wednesday that if Senator Rubio’s law was passed, it would hurt America’s
Huawei may demand more royalties from US firms that rely on its patented tech Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-21  Authors: arjun kharpal
Keywords: news, cnbc, companies, company, patent, told, royalties, huawei, technology, verizon, demand, huaweis, firms, patents, tech, rely, patented


Huawei may demand more royalties from US firms that rely on its patented tech

Huawei may demand more royalties from U.S. firms for technology they’re using that’s been patented by the Chinese telecom giant, experts say, as the beleaguered firm looks to fight back against continued pressure from Washington. It would mark a big shift in strategy for Huawei, which typically is not seen as especially litigious in terms of intellectual property rights (IPR), even though it holds some crucial patents that underpin the world of telecommunication. Last week, Reuters reported that Huawei had asked Verizon to pay $1 billion in royalties for more than 230 of Huawei’s patents. The Wall Street Journal reported that the patents related to Huawei range from core network equipment to so-called internet of things technology — defined as physical devices that are linked to one another over the internet. The Verizon case is not a legal case at the moment. Verizon might not be the only company in the crosshairs of Huawei when it comes to patent disputes. Ren Zhengfei, the company’s CEO and founder, said this week that Huawei could seek royalties from more firms. “Over the past years, we were not aggressive seeking IPR royalties to companies that use our IPR — that’s because we were busy pursuing our business growth. Once we have more time off, we may try to get some money from those companies who use our IPR,” Ren said, adding that patents would not be used as a “weapon to hinder the development of human society.”

How are firms using Huawei patents?

Huawei has been effectively banned from selling telecommunications equipment in the U.S., but its technology is still being used by American firms via third parties that employ tech patented by Huawei.

A Huawei logo displayed at a retail store in Beijing. Fred Dufour | AFP | Getty Images

When next-generation mobile networks are created, such as 4G or 5G, global standards need to be agreed upon. These are essentially protocols for how the technology will work globally, so that there’s a systemic coherence that allows smartphones to communicate with networks. So-called standards bodies are tasked with doing this. Companies like Huawei — as well as rivals like Ericsson and Nokia — will contribute to building the architecture of mobile networks through these standards groups. In doing so, these companies devise technologies which they then patent. The patents, which are critical to the standards of say 4G or 5G, will be deemed a “standard essential patent” or SEP.

Huawei has been granted more than 69,000 patents globally related to everything from data transmission to network traffic management, according to data compiled for CNBC by Relecura, an intellectual property (IP) analytics platform. Another 49,379 patent applications are pending. Of those granted, over 57% are in China, while nearly 18% are in the U.S., Huawei’s second-largest market for patents. While the Chinese firm lagged other firms somewhat in terms of SEPs when it came to 4G, it is the leader in the 5G age. Huawei has the largest portfolio of patents for 5G — about 1,554 SEPs — and is ahead of Nokia, Samsung and LG Electronics, according to IPlytics, a market intelligence firm that tracks patents. So even though Huawei’s networking equipment is not being used by major telecom players in the U.S., other vendors that they buy products from could be using technology which is patented by Huawei. Given that Huawei owns so many key patents, the likelihood is that several other American carriers could also be using technology patented by the Chinese firm.

Why take action now?

Patent disputes are not uncommon in the technology and telecom world, and there have been a number of high-profile ones including between Apple and Qualcomm. Even Huawei’s rival Nokia was embroiled in a dispute with Apple in 2016. Huawei has not been particularly aggressive in bringing legal action against companies with regard to intellectual property. However, the thinking within the company could be changing given the continued political pressure, and the demand that Verizon pay $1 billion in royalties could be the first step. “There has been consideration about the role of IP and what it mean(s) in terms of the U.S. and Huawei,” a source at the company told CNBC. “Huawei in the near future will be briefing media and stakeholders about its IPR efforts around 5G,” added the source, who wished to remain anonymous because he is not authorized to speak publicly. Huawei declined to comment when contacted by CNBC. “We have no comment regarding this specific issue because it’s a potential legal matter,” Verizon spokesperson Richard Young told CNBC in an email. “However, these issues are larger than just Verizon. Given the broader geopolitical context, any issue involving Huawei has implications for our entire industry and also raise(s) national and international concerns.”

The U.S. has continued to pile pressure on the Chinese company. Huawei was recently added to a blacklist that restricts American firms from selling products to the company. Experts say this could threaten Huawei’s smartphone business. Huawei was forced to cancel a planned launch for a new laptop in June. The company relies on some key U.S. components for many of its devices. Huawei has also slashed its revenue forecast for the next two years, with CEO Ren saying that the company could take a $30 billion hit to sales as its troubles with the U.S. continue. “Huawei definitely knew about it,” Nikhil Batra, senior telecom research manager at IDC, told CNBC, suggesting the Chinese company was aware that Verizon was using its patents and could potentially extract royalties from the American telco giant. “This is going to be a longer battle. We can all go back … and say it is all coincidental, but there is a reason we haven’t seen this happen until now. It’s because, maybe, they were waiting for an opportune time to strike back,” Batra added. Tim Pohlmann, CEO of IPlytics, said that Huawei hasn’t typically focused on getting royalties, because it was growing very quickly in its smartphone and networking equipment business. But facing a complete ban in the U.S., as well as in some other countries, Huawei could look toward getting more revenue from patent royalties, he said. “Huawei knows … enforcing patents and asking for royalties is expensive and also not their main business,” Pohlmann told CNBC. “Royalties through patents is a small fraction compared to how much revenue they created through smartphones and base stations. But when the latter revenue stream is taken from them, this is just a logical consequence.” Pohlmann noted that this was similar to what Nokia did when their handset business was sold off in the early 2010s.

What’s the US trying to do?

It appears that Senator Marco Rubio has recognized Huawei’s potential to use patents against U.S. companies. On Monday, he filed legislation that would block Huawei from fighting patent disputes in U.S. courts, according to Reuters. That proposal is far from becoming a law. On Twitter earlier this week, Rubio accused Huawei of being a “patent troll.” Huawei CEO told CNBC on Wednesday that if Senator Rubio’s law was passed, it would hurt America’s image as a lawful place. “If his recommendation can get past to the Congress, then … the image of the U.S. as a country ruled by laws, would be damaged,” Ren said, according to a CNBC translation of his remarks in Chinese. Currently, Huawei would be able to fight any patent battles in U.S. courts. “Without any direct legislation by Congress on the issue, the United States federal court system will continue to be available to Huawei for patent infringement claims, just as it is available to any other company,” Robert Mattson, a U.S.-based intellectual property lawyer, told CNBC.


Company: cnbc, Activity: cnbc, Date: 2019-06-21  Authors: arjun kharpal
Keywords: news, cnbc, companies, company, patent, told, royalties, huawei, technology, verizon, demand, huaweis, firms, patents, tech, rely, patented


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Chip stocks fall after Commerce Dept bars 5 more Chinese companies from buying US parts

Trump says ‘we were cocked & loaded’ but ‘in no hurry’ to attack…President Trump says he called off the strike 10 minutes before it was scheduled to happen after a general told him it could result in 150 deaths. Politicsread more


Trump says ‘we were cocked & loaded’ but ‘in no hurry’ to attack…President Trump says he called off the strike 10 minutes before it was scheduled to happen after a general told him it could result in 150 deaths. Politicsread more
Chip stocks fall after Commerce Dept bars 5 more Chinese companies from buying US parts Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-21  Authors: yun li
Keywords: news, cnbc, companies, buying, strike, scheduled, hurry, trump, parts, companies, commerce, chip, minutes, chinese, general, fall, happen, told, dept, result, bars, stocks, loaded


Chip stocks fall after Commerce Dept bars 5 more Chinese companies from buying US parts

Trump says ‘we were cocked & loaded’ but ‘in no hurry’ to attack…

President Trump says he called off the strike 10 minutes before it was scheduled to happen after a general told him it could result in 150 deaths.

Politics

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Company: cnbc, Activity: cnbc, Date: 2019-06-21  Authors: yun li
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Pence puts off China speech ahead of Trump-Xi talks

Trump says ‘we were cocked & loaded’ but ‘in no hurry’ to attack…President Trump says he called off the strike 10 minutes before it was scheduled to happen after a general told him it could result in 150 deaths. Politicsread more


Trump says ‘we were cocked & loaded’ but ‘in no hurry’ to attack…President Trump says he called off the strike 10 minutes before it was scheduled to happen after a general told him it could result in 150 deaths. Politicsread more
Pence puts off China speech ahead of Trump-Xi talks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-21
Keywords: news, cnbc, companies, result, strike, scheduled, ahead, hurry, speech, trump, minutes, talks, china, general, puts, trumpxi, happen, pence, told, loaded


Pence puts off China speech ahead of Trump-Xi talks

Trump says ‘we were cocked & loaded’ but ‘in no hurry’ to attack…

President Trump says he called off the strike 10 minutes before it was scheduled to happen after a general told him it could result in 150 deaths.

Politics

read more


Company: cnbc, Activity: cnbc, Date: 2019-06-21
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The world’s largest shipping firm has altered its route through the Strait of Hormuz amid rising tensions

Moller-Maersk has changed the route its ships sail through the world’s busiest transit lane for seaborne oil shipments, citing safety concerns amid a rapid series of escalations between the U.S. and Iran. A surface-to-air missile shot down a U.S. military drone in international airspace over the Strait of Hormuz, a U.S. official told NBC News Thursday morning. The reported drone downing has exacerbated fears that a major military confrontation could soon erupt between Washington and Tehran. “We


Moller-Maersk has changed the route its ships sail through the world’s busiest transit lane for seaborne oil shipments, citing safety concerns amid a rapid series of escalations between the U.S. and Iran. A surface-to-air missile shot down a U.S. military drone in international airspace over the Strait of Hormuz, a U.S. official told NBC News Thursday morning. The reported drone downing has exacerbated fears that a major military confrontation could soon erupt between Washington and Tehran. “We
The world’s largest shipping firm has altered its route through the Strait of Hormuz amid rising tensions Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-20  Authors: sam meredith
Keywords: news, cnbc, companies, rising, assets, firm, changed, strait, amid, safety, largest, hormuz, protecting, worlds, told, route, shipping, ships, tensions, sail


The world's largest shipping firm has altered its route through the Strait of Hormuz amid rising tensions

A.P. Moller-Maersk has changed the route its ships sail through the world’s busiest transit lane for seaborne oil shipments, citing safety concerns amid a rapid series of escalations between the U.S. and Iran.

A surface-to-air missile shot down a U.S. military drone in international airspace over the Strait of Hormuz, a U.S. official told NBC News Thursday morning.

The reported drone downing has exacerbated fears that a major military confrontation could soon erupt between Washington and Tehran.

When asked what steps A.P. Moller-Maersk had taken to protect its assets after the latest flare-up in tensions, the chief operating officer of the world’s largest shipping company said the safety of its workforce would be the top priority.

“We are protecting our assets but, first and foremost, we are protecting and being very careful when it comes to (the) safety of our employees,” Soren Toft told CNBC’s “Squawk Box Europe” on Thursday.

“We have multiple assets, ships (and) people, crossing the Strait of Hormuz every day, every week. So far, we have not stopped serving the area (but) we have changed the path that the ships sail so we have changed the route.”


Company: cnbc, Activity: cnbc, Date: 2019-06-20  Authors: sam meredith
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West Virginia is still waiting on a game-changing $84 billion investment from China that was promised in 2017

Eighteen months after the deal was announced with much fanfare, China Energy Investment Corp. has spent no money in West Virginia’s energy projects, Justice tells CNBC. The wish listDelegations from China Energy Investment Corp. and Shenhua Group, its parent company, embarked on multiple learning tours in West Virginia to figure out where they would invest. In addition to visiting project sites across West Virginia in 2017, executives took courses at West Virginia University’s Energy Institute a


Eighteen months after the deal was announced with much fanfare, China Energy Investment Corp. has spent no money in West Virginia’s energy projects, Justice tells CNBC. The wish listDelegations from China Energy Investment Corp. and Shenhua Group, its parent company, embarked on multiple learning tours in West Virginia to figure out where they would invest. In addition to visiting project sites across West Virginia in 2017, executives took courses at West Virginia University’s Energy Institute a
West Virginia is still waiting on a game-changing $84 billion investment from China that was promised in 2017 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-20  Authors: kayla tausche
Keywords: news, cnbc, companies, 2017, gamechanging, billion, investment, deal, promised, waiting, virginia, china, 84, state, told, projects, west, energy


West Virginia is still waiting on a game-changing $84 billion investment from China that was promised in 2017

WASHINGTON BOTTOM, W.V. – Beijing billed President Donald Trump’s 2017 trip as a “state visit-plus” — rolling out the red carpet for an unprecedented private dinner in the Forbidden City, marching a military parade through Tiananmen Square, and hosting a signing ceremony in the colossal Great Hall of the People to unveil business deals totaling more than $250 billion. One-third of that value was supposed to flow to West Virginia, an energy-rich but high-poverty state whose manufacturing and energy workers handed Trump his widest margin of victory in 2016. He captured more than more than 67% of the vote. Under the deal, China’s largest state-owned energy giant would spend nearly $84 billion over 20 years to build facilities that extract natural gas and turn it into byproducts that generate power and make consumer goods. In celebrating the announcement, West Virginia officials said projects would be underway within a year. “This time next year, you will see construction activity taking place,” the state’s former Commerce secretary, Woody Thrasher, told reporters on Nov. 13, 2017. A month later, Gov. Jim Justice confirmed that timeline. “It would not surprise me, within my 10-month window of today, to see shovels in the ground,” Justice told a town hall on WSAZ television. But skepticism about the deal surfaced almost immediately. Officials referenced the general areas where China Energy would invest, but didn’t provide a detailed list of projects or an accompanying timeline. The memorandum of understanding outlining the deal was never made public and remains sealed by judicial order. CNBC interviewed dozens of local executives, state officials and federal lawmakers about where the deal stands. What emerges is a picture of a proposal hastily assembled for the deadline of Trump’s trip to China without assessments of national security or geopolitical risks – and a cautionary tale as the U.S. tries to hold China to its promises at the federal level. Eighteen months after the deal was announced with much fanfare, China Energy Investment Corp. has spent no money in West Virginia’s energy projects, Justice tells CNBC. Thrasher – one of three signatories to the deal – points to one reason: “It’s not an enforceable document where we can make them spend their money.”

The wish list

Delegations from China Energy Investment Corp. and Shenhua Group, its parent company, embarked on multiple learning tours in West Virginia to figure out where they would invest. In addition to visiting project sites across West Virginia in 2017, executives took courses at West Virginia University’s Energy Institute and traveled to industry conferences across the Ohio River valley. The trips began to slow as trade tensions heated up between the U.S. and China in early 2018, the governor told CNBC. Local executives and state lawmakers expected China Energy to assist in building new facilities in three areas: Natural gas-burning power plants, steam crackers that turn gas into ethylene, and an underground reservoir that would store the excess energy until it could be processed or traded. The goal, according to those involved: Invest in the infrastructure to extract and process the raw materials and send the materials themselves back to China. But problems arose soon after the deal’s announcement.

CNBC’s Kayla Tausche speaks with West Virginia Governor Jim Justice. CNBC

China’s involvement in the power plants was blocked by U.S. officials, who raised national security concerns about an adversary obtaining operating knowledge of a state’s power grid. The source of the opposition with the federal government was not clear, but Thrasher and Rep. David McKinley, R-W.Va., said the plants included in the original proposal had been removed from consideration. “By law, information filed with CFIUS may not be disclosed by CFIUS to the public. Accordingly, the Department does not comment on information relating to specific CFIUS cases, including whether or not certain parties have filed notices for review,” said a representative for the Treasury Department, which leads the Committee on Foreign Investment in the United States, commonly known as CFIUS. “We didn’t realize that there may be concerns from CFIUS,” Thrasher said in hindsight. “We thought that would be acceptable. Later on, there were questions about it.” Energy Solutions Consortium — the U.S.-based company building the power plants in Brooke and Harrison counties — says permits for the plants are in process, and their construction is not predicated on Chinese investment. A hundred miles away from the power plant sites sits an empty asphalt lot on the banks of the Ohio River that was supposed to host the facility that would “crack” the area’s abundant natural gas into ethylene. A security guard keeps watch 24 hours a day over the area, overgrown with weeds and surrounded by chain-link fencing and barbed wire. When asked where one would find the cracker — or the beginnings of it — the security guard returned a quizzical stare. “There’s not one,” he told CNBC during a recent reporting trip to the area. “That’s here,” he said when he was shown a map highlighting the area the Department of Energy had singled out as the investment site. But nothing had ever materialized, he said. Local executives, who requested anonymity because they are not authorized to discuss the project, say China Energy’s interest was piqued by the waterfront location and neighboring logistics hubs that would allow the company to easily export what it produced back to Beijing. China’s financial backing would have added momentum to the cracker’s long-stalled production. Its construction by Brazil’s petrochemical company Braskem, and Braskem’s parent company, Odebrecht SA, had been on hold for years amid a corruption scandal, financial troubles and ownership questions. Odebrecht’s chief executive in 2016 was sentenced to 19 years in prison for his role in a kickback scheme that lined the pockets of politicians in more than a dozen countries. The same year, Odebrecht and Braskem pleaded guilty and agreed to pay $3.5 billion to U.S. authorities for running afoul of domestic anti-bribery laws. After a deal to sell Braskem to conglomerate to LyondellBasell fell through earlier this month, Odebrecht filed for bankruptcy. The Department of Energy says the cracker would produce a million annual tons of ethylene, a petrochemical product used to make zip-close bags and clothing fibers. But the earliest date it could come online under current ownership is 2022, according to a DOE report. Then there’s the Appalachia Storage and Trading Hub, currently in the fundraising and development phase. Steve Hedrick, CEO of the Mid-Atlantic Technology, Research & Innovation Center (MATRIC) and Appalachia Development Group, says he’ll spend the next two years locking in the $3.3 billion he needs to get the project off the ground. The majority of the funding — $1.9 billion — is expected to come from a Department of Energy loan. The remaining $1.4 billion will come from the private sector, Hedrick says, and so far is not coming from Beijing. “What we have seen thus far is investment out of the continental United States,” Hedrick told CNBC. Hedrick maintains that Beijing never made a firm commitment to fund the construction of the hub, despite his joining West Virginia officials in China to announce the $83.7 billion deal. His participation stoked controversy when ProPublica reported that he conducted private business while taxpayers funded his travel. Hedrick repaid his travel costs and told CNBC he provided “chemical industry acumen” during meetings with Chinese officials, at the request of the state. Lawmakers say the storage hub was always on China Energy’s shortlist. “We’re talking about 10 to 20 million barrels of ethane storage,” said McKinley. “Our conversation with Shenhua and the China Energy group was, ‘Let’s tap into that.'”

A ‘game-changer’ for the Mountain State

The potential value of the China Energy deal is greater than the value of everything the state of West Virginia produces in a year, which according to the St. Louis Federal Reserve was $77.5 billion in 2018. A third of its 1.8 million people don’t have internet, according to the Federal Communications Commission. And 19% of residents live below the poverty line, the most recent Census data show. “It would’ve obviously employed tens of thousands of people,” Thrasher said. “It would’ve been way beyond a game-changer. Way beyond the size of the state.” West Virginia’s current Commerce secretary, Ed Gaunch, told a West Virginia radio show the investment would produce “hundreds of thousands” of jobs in the energy and petrochemical industries. After meeting with China Energy’s chairman and top officials in China in early June, Gaunch told MetroNews Talkline the two parties moved “one step closer” to announcing at least one of the seven projects Gaunch said China has identified. Gaunch declined to elaborate on the commitment – or the projects – and acknowledged the process has been perplexing. “In this case it was backwards,” Gaunch told the Talkline host Hoppy Kercheval. “We announced the intention to do those projects, and now we’re waiting for those projects to materialize.” A spokesperson for Gaunch and the West Virginia Department of Commerce declined repeated requests for comment from CNBC over a three-month period. The proposed size of the investment – and availability of those projects – has lawmakers and longtime West Virginia drillers scratching their head.

CNBC’s Kayla Tausche with Woody Thrasher, former West Virginia Commerce Sec. CNBC

“I think we all knew that was a pretty high figure, particularly in a small state such as ours,” Republican Sen. Shelley Moore Capito told CNBC outside Clarksburg during a recent congressional break. Dennis Xander, president of West Virginia-based Denex Petroleum, said even if China Energy fully paid for every pipeline under construction in the state, it would only be able to spend about $25 billion. “I don’t think the projects are here right now,” Xander said. Asked whether they could emerge over a 20-year investment horizon, he said: “I doubt it.” Denex and MATRIC have not encountered any Chinese bidders participating in existing or future projects where their companies are involved, the two executives said. “If 10% of that were invested in the state of West Virginia, that would be the single-largest investment in the history of the state,” MATRIC’s Hedrick said. “Whether you get to $83.7 billion or you get to $50 [billion] depends on how long we want to sit at the table and work on it,” Hedrick said. Hedrick, who was briefed on the investment as part of the 2017 trip, said the specificity of the figure indicated it was the amount China truly intended to spend. “Someone, somewhere decided that they were going to be precise,” Hedrick said. “Someone did the math and added it up. And it ended up at $83.7.”

Legal challenge

Thrasher, the former state Commerce secretary, says the math was done quickly in late 2017, with the “back of a napkin” figure worked out “in a couple of hours,” so the deal could be rolled out weeks later during Trump and Xi’s big reveal. “The temptation was too great not to sort of announce that deal,” Thrasher said. The White House declined to comment on its role in assembling the deal or President Trump’s discussions about it with Governor Justice. Shortly after CNBC reached out for comment, Justice and the President spoke by phone, tweeting that they discussed West Virginia’s public schools. Gov. Justice said he and Pres. Trump are “bound at the hip,” and that Trump has done “remarkable work that has been tremendously beneficial for WV!” The U.S. Department of Commerce, which arranged the deals and the delegations, says it is still working on the agreement but acknowledged its outcome is unclear. “Work on this particular deal continues to this day. The initial announcement for this trade mission showed that it was a Memorandum of Understanding, which can signify that the agreement is early in the process,” a spokesperson for the department tells CNBC. The deal signed was a “memorandum of understanding” involving China Energy, the state of West Virginia and West Virginia University. It’s not legally binding. And the state’s residents only know as much about the investment as a handful of principals are willing to tell them. China Energy Investment Corp. is no more forthcoming. It declined to provide any executives to discuss the deal or information about its progress, although it did provide the following statement to CNBC: “CEIC’s project in West Virginia is currently progressing as planned. However, because this stage of work involves business secrets, it is not suitable for media interviews.” Appalachian Mountain Advocates, a nonprofit public interest law and policy organization, sued West Virginia University after it declined a November 2017 Freedom of Information Act request to release the deal documents, a list of projects under consideration, and any correspondence related to China.

Proposed steam cracker site in West Virginia. CNBC

A West Virginia circuit court denied the request, saying the document trove could contain “proprietary trade secrets” and is “protected by the economic development privilege.” Judge Russell M. Clawges Jr. found the request to be “unduly burdensome.” Appalachian Mountain Advocates declined to comment for this story, citing the ongoing litigation. The case is currently being appealed. Sen. Joe Manchin, the Democratic former governor and West Virginia’s current senior U.S. senator, has hosted delegations from China Energy but still hasn’t been able to obtain adequate information about the deal. “To say you’re going to make an investment and not tell us what it is going to be about was absolutely wrong,” Manchin told CNBC outside a hearing in Washington. “I never thought it would come to maturity — I really didn’t — and I never did see anything concrete.”

Holding out hope

Not everyone shares Manchin’s skepticism. Capito, his Republican colleague in the Senate, said West Virginia and China Energy are in a “holding pattern” until the U.S. and China resolve their trade issues. Justice, who switched from Democrat to Republican after being elected governor, said a resolution at the national level could give China Energy a “green light” to move forward — and that other nations, including energy-rich Qatar, have expressed interest in the meantime. Thrasher, who is running to unseat Justice as governor, believes, perhaps unsurprisingly, a gubernatorial change could breathe new life into the deal. McKinley says neither the value of the raw materials underneath the state nor China’s need for them has changed. “I’ve met with them in Beijing. I’ve met them in Shanghai. We’ve had meetings in Morgantown,” McKinley says. “They’re still interested.”

CNBC’s Kayla Tausche with Steve Hedrick, MATRIC president and CEO. CNBC


Company: cnbc, Activity: cnbc, Date: 2019-06-20  Authors: kayla tausche
Keywords: news, cnbc, companies, 2017, gamechanging, billion, investment, deal, promised, waiting, virginia, china, 84, state, told, projects, west, energy


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US military drone shot down by missile in international airspace, US official says

A surface-to-air missile shot down a U.S. military drone in international airspace over the Strait of Hormuz, a U.S. official told NBC News Thursday morning. The U.S. official said a US RQ-4 Global Hawk drone was shot down in international airspace above the Strait of Hormuz. It was not in Iranian airspace, the official said, which has been disputed by Iran. The recently appointed chief of Iran’s elite Islamic Revolutionary Guard Corps (IRGC), Major General Hossein Salami, told Iranian state TV


A surface-to-air missile shot down a U.S. military drone in international airspace over the Strait of Hormuz, a U.S. official told NBC News Thursday morning. The U.S. official said a US RQ-4 Global Hawk drone was shot down in international airspace above the Strait of Hormuz. It was not in Iranian airspace, the official said, which has been disputed by Iran. The recently appointed chief of Iran’s elite Islamic Revolutionary Guard Corps (IRGC), Major General Hossein Salami, told Iranian state TV
US military drone shot down by missile in international airspace, US official says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-20  Authors: natasha turak
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US military drone shot down by missile in international airspace, US official says

A surface-to-air missile shot down a U.S. military drone in international airspace over the Strait of Hormuz, a U.S. official told NBC News Thursday morning.

The U.S. official said a US RQ-4 Global Hawk drone was shot down in international airspace above the Strait of Hormuz. It was not in Iranian airspace, the official said, which has been disputed by Iran. The official said they consider this to be an unprovoked attack.

The recently appointed chief of Iran’s elite Islamic Revolutionary Guard Corps (IRGC), Major General Hossein Salami, told Iranian state TV that the downing was “a clear message” to Washington.

“The downing of the American drone was a clear message to America … our borders are Iran’s red line and we will react strongly against any aggression,” Salami said. “Iran is not seeking war with any country, but we are fully prepared to defend Iran.”


Company: cnbc, Activity: cnbc, Date: 2019-06-20  Authors: natasha turak
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EU top diplomat says Europe will try to make sure ‘escalation is avoided’ between US, Iran

Federica Mogherini, the EU’s High Representative for Foreign Affairs and Security Policy, told CNBC ahead of a gathering of European leaders in Brussels Thursday afternoon that Europe will try to “open channels of communication and make sure that an escalation is avoided,” as oil prices spiked significantly over widespread supply fears. This followed an earlier claim from Iranian state-run broadcaster Press TV that the country’s Revolutionary Guard had successfully brought down an “intruding Ame


Federica Mogherini, the EU’s High Representative for Foreign Affairs and Security Policy, told CNBC ahead of a gathering of European leaders in Brussels Thursday afternoon that Europe will try to “open channels of communication and make sure that an escalation is avoided,” as oil prices spiked significantly over widespread supply fears. This followed an earlier claim from Iranian state-run broadcaster Press TV that the country’s Revolutionary Guard had successfully brought down an “intruding Ame
EU top diplomat says Europe will try to make sure ‘escalation is avoided’ between US, Iran Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-20  Authors: willem marx, natasha turak
Keywords: news, cnbc, companies, sure, iranian, european, try, american, iran, europe, eu, surveillance, week, told, military, diplomat, avoided, region, escalation


EU top diplomat says Europe will try to make sure 'escalation is avoided' between US, Iran

The European Union has a crucial role to play in diffusing military tensions between the United States and Iran, the bloc’s top diplomat said, after the U.S. Defense Department insisted that an American surveillance drone shot down by an Iranian projectile in the Gulf region on Wednesday was operating over international waters.

Federica Mogherini, the EU’s High Representative for Foreign Affairs and Security Policy, told CNBC ahead of a gathering of European leaders in Brussels Thursday afternoon that Europe will try to “open channels of communication and make sure that an escalation is avoided,” as oil prices spiked significantly over widespread supply fears.

President Trump said in a Twitter post that Iran had made a “very big mistake” in its decision to shoot down the RQ-4A Global Hawk, an unarmed, unmanned but highly advanced high-altitude surveillance aircraft. Later Thursday, Trump seemed to downplay the incident, suggesting that it may have been unintentional.

This followed an earlier claim from Iranian state-run broadcaster Press TV that the country’s Revolutionary Guard had successfully brought down an “intruding American spy drone.”

But according to Navy Capt. Bill Urban, a spokesman for the U.S. military’s Middle East regional command known as Centcom, Iran’s use of a surface-to-air missile on the Global Hawk represented an “unprovoked attack on a U.S. surveillance asset in international airspace.”

In a sign of the seriousness with which the U.S. military is treating this latest incident, the top U.S. Air Force commander in the region, Lt. Gen. Joseph T. Guastella, spoke to Pentagon journalists from the Al Udeid Air Base in Qatar, where around 10,000 US military personnel are permanently stationed.

The United States last week announced it would send an additional 1,000 troops to the Middle East, in addition to the 1,500 extra personnel it promised to dispatch in May.

And senior military commanders have previously warned that Iranian attacks on U.S. forces or interests in the region would prompt a response.

Mogherini, the European diplomat, told CNBC she had agreed with her American counterpart Secretary of State Mike Pompeo earlier this week at a meeting in Washington D.C. that it was not in anybody’s interest “to see a military escalation,” and her focus remained on keeping Iran compliant with its obligations under the nuclear deal she helped broker, formally known as the Joint Comprehensive Plan of Action or JCPOA.

“We’ll try to do what we can to diffuse tensions,” she said.

But Sanam Vakil, who heads the Iran forum at the London-based think tank Chatham House, said the drone shooting was the latest in a “cascading series of attacks,” which included several that damaged oil tankers in the stretch of water that separates Iran from the Arabian peninsula.

“Iran is increasing its leverage for future negotiations” over sanctions relief and its nuclear capabilities, Vakil told CNBC via email.

“Without dialogue, diplomacy and serious de-escalation, the risk of action and reaction and a slide into a wider regional conflict is significant.”


Company: cnbc, Activity: cnbc, Date: 2019-06-20  Authors: willem marx, natasha turak
Keywords: news, cnbc, companies, sure, iranian, european, try, american, iran, europe, eu, surveillance, week, told, military, diplomat, avoided, region, escalation


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‘They want to hit where it hurts’: Here’s why Iran could want to attack foreign tankers

So why would elements within Iran risk blowing up foreign merchant tankers in their own backyard? It’s crucial to note that the culprit behind attacks on two commercial tankers last week has not been conclusively proven. The U.S. and the Saudis say Iran is behind the attacks, while the U.K. says they’re “almost certain” of the same; Iran vociferously denies it. Here’s a look at what might’ve driven elements within Iran, particularly its Revolutionary Guard Corps, to carry out the tanker attacks.


So why would elements within Iran risk blowing up foreign merchant tankers in their own backyard? It’s crucial to note that the culprit behind attacks on two commercial tankers last week has not been conclusively proven. The U.S. and the Saudis say Iran is behind the attacks, while the U.K. says they’re “almost certain” of the same; Iran vociferously denies it. Here’s a look at what might’ve driven elements within Iran, particularly its Revolutionary Guard Corps, to carry out the tanker attacks.
‘They want to hit where it hurts’: Here’s why Iran could want to attack foreign tankers Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-20  Authors: natasha turak
Keywords: news, cnbc, companies, iranians, hit, foreign, theyre, hurts, iran, sanctions, war, attack, told, oil, trump, attacks, tankers, heres


'They want to hit where it hurts': Here's why Iran could want to attack foreign tankers

Undated handout archive photo by the Norwegian shipowner Frontline of the crude oil tanker Front Altair, released June 13, 2019. NTB Scanpix | Reuters

DUBAI — Iran’s economy is crumbling. It’s in a region bristling with U.S. military hardware, and it’s staring down an American administration that has made clear all military options are on the table. So why would elements within Iran risk blowing up foreign merchant tankers in their own backyard? It’s a question many people were asking even before the Pentagon reported Thursday that an American drone was shot down over the Strait of Hormuz. Iran claimed responsibility for that strike. It’s crucial to note that the culprit behind attacks on two commercial tankers last week has not been conclusively proven. On June 13, explosions crippled the Japanese Kokuka Courageous and the Norwegian Front Altair, forcing their crews to abandon ship. The U.S. and the Saudis say Iran is behind the attacks, while the U.K. says they’re “almost certain” of the same; Iran vociferously denies it. But video footage and photographs from U.S. CENTCOM provides what a range of security experts say is credible evidence of Iranian responsibility. Here’s a look at what might’ve driven elements within Iran, particularly its Revolutionary Guard Corps, to carry out the tanker attacks.

1. Iran ‘has nothing to lose’

“Iran has probably arrived at the conclusion that it has less to lose from acting this way than from doing nothing,” Aniseh Tabrizi, a research fellow and Iran expert at London’s Royal United Services Institute, told CNBC via phone Tuesday. “There is a gamble behind it that wasn’t there before, which is: ‘If other countries retaliate, we are willing to take the risk because we have really nothing to lose at this point’,” Tabrizi described. “And that is a dangerous way to feel.” Iran’s economy is expected to shrink by 6% this year, after having contracted 3.9% last year, the International Monetary Fund says. By contrast, it clocked 3.8% growth in 2017, before the Trump administration re-imposed economic sanctions after withdrawing from the 2015 nuclear deal that offered the Islamic Republic relief from prior sanctions. The combination of hard-hitting sanctions, particularly on the country’s oil exports, and years of economic mismanagement have led to skyrocketing unemployment and inflation headed toward 40%. “The more the U.S. maximum pressure policy succeeds in driving the Iranian economy into the ground,” Ali Vaez, Iran Project Director at Crisis Group, told CNBC, “the less risk averse the Iranians will become and the more aggressive they’re likely to be.”

2. Calling Trump’s ‘bluff’

“It’s all about careful calibration and plausible deniability,” Hussein Ibish, a senior resident scholar at the Arab Gulf States Institute in Washington, told CNBC. Iran’s tactics, experts say, are designed to disrupt but not provoke a military response. So far, attacks have specifically avoided civilian deaths and environmental damage like an oil spill. Instead, the Revolutionary Guard or its naval equivalent may be sending the message that it’s capable of undermining U.S. and Arab Gulf states’ interests in the region. And if they feel they can get away with it, it’s because they’re banking on President Donald Trump not wanting to actually start a war. “Ultimately, Iran’s intention is to call President Trump’s bluff,” says Ibish.

Imagery taken from a U.S. Navy MH-60R helicopter that allegedly shows Islamic Revolutionary Guard Corps Navy after removing an unexploded limpet mine from the M/T Kokuka Courageous. US Navy

And indeed, Trump told Time Magazine in an interview this week that he views the tanker incidents as “very minor,” suggesting that attacks of this nature are not worth going to war over. The administration has already gone almost all out on economic sanctions, “So the repercussions are virtually nil,” says Ibish. “That’s one reason why Iran is taking these actions: they have nothing to lose except getting into a war they don’t want, but which Trump does not want either. And that’s what they’re testing right now,” he said.

3. ‘Hit them where it hurts’ — oil and shipping security

Iranian leaders have often threatened that if they can’t export their oil, neither will anyone else. And last week’s suspected attacks took place near the Strait of Hormuz, the narrow waterway for 30% of the world’s seaborne oil traffic. Combined with the four tankers allegedly sabotaged off the United Arab Emirates’ coast of Fujairah on May 12, last week’s attacks “appear to be part of a systematic Iranian effort to demonstrate that peace and security in the Gulf is contingent on its own economic stability,” political consultancy Eurasia Group said in a June 13 briefing.

They do not seek a war, exactly, but they are obviously willing to risk one in order to get out of an impossible conundrum. Hussein Ibish senior resident scholar, Arab Gulf States Institute in Washington

Iran’s Supreme Leader Ayatollah Ali Khamenei “has made threats to the Americans saying we’re going to hit where it hurts — and the hydrocarbon lifeline of the Strait of Hormuz is what hurts,” Andreas Krieg, a lecturer at the School of Security Studies at King’s College London, told CNBC. Targeting commercial tankers and oil traffic hurts Iran as well, Krieg says — “but the Iranians have their backs against the wall, and there’s very little they can lose because they’re already in a state of absolute loss after the imposition of the maximum pressure sanctions regime.”

4. Deterrence and leverage

“If the Iranians were indeed behind this then I think the main motive is to deter the U.S. from further ratcheting up pressure on Iranian oil exports,” says Crisis Group’s Vaez. “But this also has the added benefit of ransoming the oil market which will jack up the price on shipping insurance premiums, and this will allow the Iranians to compensate to a certain extent for the loss of their oil exports as a result of U.S. sanctions.”

And for Iran, this type of unconventional warfare also demonstrates that it can wreak significant damage on Western interests at a fairly low financial cost, something that can’t be said for the U.S. military. “The Iranians have a lot more flexibility and political will to operate in this area than the Americans,” says Krieg. “The problem with the Americans is there is no political will, there’s limited capability to strike back, and the costs are exponentially higher.”

5. History


Company: cnbc, Activity: cnbc, Date: 2019-06-20  Authors: natasha turak
Keywords: news, cnbc, companies, iranians, hit, foreign, theyre, hurts, iran, sanctions, war, attack, told, oil, trump, attacks, tankers, heres


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‘Avengers: Endgame’ is being rereleased with deleted scene, post-credit tribute in a bid to top ‘Avatar’

Disney is making one final push to make “Avengers: Endgame” the highest-grossing film of all time. “Not an extended cut, but there will be a version going into theaters with a bit of a marketing push with a few new things at the end of the movie,” Feige told Screen Rant. “If you stay and watch the movie, after the credits, there’ll be a deleted scene, a little tribute, and a few surprises.” “We are doing that,” Feige told Comicbook.com during a “Spider-Man: Far From Home” press junket in London.


Disney is making one final push to make “Avengers: Endgame” the highest-grossing film of all time. “Not an extended cut, but there will be a version going into theaters with a bit of a marketing push with a few new things at the end of the movie,” Feige told Screen Rant. “If you stay and watch the movie, after the credits, there’ll be a deleted scene, a little tribute, and a few surprises.” “We are doing that,” Feige told Comicbook.com during a “Spider-Man: Far From Home” press junket in London.
‘Avengers: Endgame’ is being rereleased with deleted scene, post-credit tribute in a bid to top ‘Avatar’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-19  Authors: sarah whitten
Keywords: news, cnbc, companies, endgame, deleted, tribute, avengers, scene, push, postcredit, theaters, rerelease, rereleased, told, screen, feige, rant, marvel, disney, avatar, bid, release


'Avengers: Endgame' is being rereleased with deleted scene, post-credit tribute in a bid to top 'Avatar'

Disney is making one final push to make “Avengers: Endgame” the highest-grossing film of all time.

According to reports by Screen Rant and Comicbook.com, both of which cite Marvel head Kevin Feige, the massive blockbuster will get a theatrical rerelease with extra footage that wasn’t included in its initial release.

“Not an extended cut, but there will be a version going into theaters with a bit of a marketing push with a few new things at the end of the movie,” Feige told Screen Rant. “If you stay and watch the movie, after the credits, there’ll be a deleted scene, a little tribute, and a few surprises.”

The rerelease will reportedly happen June 28. That weekend provides a good opportunity for the rerelease as there are no major competitors debuting, only smaller budget films “Yesterday” and “Annabelle Comes Home,” neither of which are categorized in the same genre as “Endgame.”

Representatives for Disney and Marvel did not immediately respond to CNBC’s request for comment.

“We are doing that,” Feige told Comicbook.com during a “Spider-Man: Far From Home” press junket in London. “I don’t know if it’s been announced. And I don’t know how much… Yeah, we’re doing it next weekend.”

The rerelease would be a smart move by Disney. The additional content is an enticing lure for fans of Marvel who were already waiting for the DVD release to see scenes that didn’t make it into the film and other behind-the-scenes content.

Putting some of that footage into a rerelease will draw thousands back to theaters and likely push “Avengers: Endgame” above and beyond the record $2.78 billion “Avatar” has earned since its release in 2009.

“Endgame” has earned around $2.74 billion globally.


Company: cnbc, Activity: cnbc, Date: 2019-06-19  Authors: sarah whitten
Keywords: news, cnbc, companies, endgame, deleted, tribute, avengers, scene, push, postcredit, theaters, rerelease, rereleased, told, screen, feige, rant, marvel, disney, avatar, bid, release


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‘Miracle on the Hudson’ pilot urges simulator training for the Boeing 737 Max

A Boeing 737 MAX 8 airplane sits next to another 737 outside the company’s factory on March 11, 2019 in Renton, Washington. The US Airways captain famed for his January 2009 landing on the Hudson River told lawmakers on Wednesday that airline pilots should receive simulator training to fly the Boeing 737 Max before the planes return to service after two fatal crashes. Aviation officials haven’t signed off on software and training updates Boeing has developed to get the planes back in the air. Ca


A Boeing 737 MAX 8 airplane sits next to another 737 outside the company’s factory on March 11, 2019 in Renton, Washington. The US Airways captain famed for his January 2009 landing on the Hudson River told lawmakers on Wednesday that airline pilots should receive simulator training to fly the Boeing 737 Max before the planes return to service after two fatal crashes. Aviation officials haven’t signed off on software and training updates Boeing has developed to get the planes back in the air. Ca
‘Miracle on the Hudson’ pilot urges simulator training for the Boeing 737 Max Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-19  Authors: leslie josephs
Keywords: news, cnbc, companies, miracle, planes, urges, pilots, experience, told, max, hudson, pilot, 737, boeing, simulator, training


'Miracle on the Hudson' pilot urges simulator training for the Boeing 737 Max

A Boeing 737 MAX 8 airplane sits next to another 737 outside the company’s factory on March 11, 2019 in Renton, Washington.

The US Airways captain famed for his January 2009 landing on the Hudson River told lawmakers on Wednesday that airline pilots should receive simulator training to fly the Boeing 737 Max before the planes return to service after two fatal crashes.

Aviation officials haven’t signed off on software and training updates Boeing has developed to get the planes back in the air. The jets, Boeing’s all-time bestseller, have been grounded for more than three months after two of the planes crashed within five months of one another, killing a total of 346 people.

“We should all want pilots to experience these challenging situations for the first time in a simulator, and not with passengers and crew on board,” Chesley “Sully” Sullenberger, told the House aviation subcommittee.

The hearing was the second of the House Committee on Transportation and Infrastructure’s aviation panel on the 737 Max, and included testimony by representatives from flight attendant and pilot labor unions, and major U.S. airlines.

Unlike the computer-based training pilots received before transitioning to the 737 Max from older models of the plane, or stationary simulators, a full-motion simulator would give pilots physical experience in maneuvers required in emergencies, Sullenberger said. Those include recovery procedures that could require a pilot to use both hands or the efforts of two pilots to move a wheel that would right a plane tipped downward, skills they can commit to “muscle memory,” he said.

Dan Carey, president the Allied Pilot Association that represents roughly 15,000 American Airlines pilots, said the union requested experience in a full-motion 737 Max simulator in Miami but said the airline said they could receive it after the planes were recertified by the FAA. Carey said the union is concerned about whether new training Boeing is proposing will be sufficient.

American Airlines has “been working closely with our pilots on the APA national safety committee on the suggested training and other issues concerning returning the 737 MAX back to revenue service,” said American spokesman Ross Feinstein. “We appreciate their input and collaboration.”

American has ordered a 737 Max simulator that is scheduled to arrive by the end of the year.

Sullenberger added to criticism over the Federal Aviation Administration’s certification of the planes and the jet’s design saying “these crashes are demonstrable evidence that our current system of aircraft design and certification has failed us.”

Lawmakers, the Justice Department and several other bodies are examining the plane’s certification.

Sullenberger’s landing after a bird strike on the Airbus jet he was flying in 2009 became known as the “Miracle on the Hudson.”

He told lawmakers Wednesday that pilots face a “startle factor” that should be taken into account when assessing abnormalities during flight.


Company: cnbc, Activity: cnbc, Date: 2019-06-19  Authors: leslie josephs
Keywords: news, cnbc, companies, miracle, planes, urges, pilots, experience, told, max, hudson, pilot, 737, boeing, simulator, training


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