Iran's Revolutionary Guard said the British tanker, Stena Impero, failed to follow international maritime rules.World Newsread more
Amazon hires Trump-allied lobbyist Jeff Miller as battle for Pentagon contract heats up.Politicsread more
In a series of tweets, the president addressed an unusual controversy stemming from a speech delivered Thursday by New York Fed President John Williams.Marketsread more
Boston Federal Reserve President Eric Rosengren is lining up against an apparent push to cut interest rates, telling CNBC in an interview Friday that the central bank can...The Fedread more
More than a quarter of the S&P 500 companies report earnings in the week ahead, and that could buffet the market as investors await the Fed's meeting at the end of the month.Market Insiderread more
Companies aren't waiting for the U.S.-China trade war to be resolved, says the head of the world's biggest money manager.Investingread more
Trump's constant berating of the Fed and its actions does not influence the central bank's decisions, Boston Fed's Eric Rosengren says.The Fedread more
Executives from United Airlines and American Airlines were "shocked" that state-owned airline Qatar Airways CEO Akbar Al Baker was also invited to the meeting, according to a...Airlinesread more
J.C. Penney on Friday afternoon issued a statement responding to a report that the embattled department store chain had hired advisors to explore debt restructuring options,...Retailread more
Earlier this week, a lawyer said Jeffrey Epstein, a former friend of Presidents Donald Trump and Bill Clinton, had "improper sexual contact" with at least one woman under the...Politicsread more
Walmart is making further organizational changes as it continues to integrate its store and digital operations and leadership, according to a memo obtained by CNBC that was...Retailread more
(Adds more comments)
April 17 (Reuters) - Federal Communications Commission chairman Ajit Pai said on Wednesday he opposes China Mobile Ltd's bid to provide U.S. telecommunications services and that the commission will vote on whether to deny the application in May.
"It is clear that China Mobiles application to provide telecommunications services in our country raises substantial and serious national security and law enforcement risks," Pai said in a statement. China Mobile first applied for permission in 2011.
FCC officials said approval could have boosted Chinese intelligence gathering efforts.
The comments amid a broader U.S. campaign to limit the role of Chinese telecommunications firms in the build out of 5G networks comes as Western governments grapple with the national security implications of moving to 5G, which promises to be at least 100 times faster than the current 4G networks.
China Mobile had sought approval to provide services for phone calls between the United States and other countries. It did not seek approval to provide wireless services to U.S. consumers.
The Trump administration said last year China Mobile wanted to be able to "interconnect and have greater access to telephone lines, fiber-optic cables, cellular networks, and communication satellites throughout the United States telecommunications network."
China Mobile USA, which filed the application, is a Delaware corporation that is indirectly and ultimately owned and controlled by the Chinese government, the FCC said.
In 2011, China Mobile sought FCC approval to provide international facilities-based and resale telecommunications services between the U.S. and foreign destinations.
In July 2018, after a lengthy review of the application and consultation with the U.S. intelligence community, a group of executive branch agencies recommended the FCC deny China Mobiles application citing "substantial national security and law enforcement risks that cannot be resolved through a voluntary mitigation agreement."
Pai has circulated a draft order that would deny the request and find that China Mobile "is vulnerable to exploitation, influence, and control by the Chinese government."
For more than a year, the White House has been considering an executive order to declare a national emergency that would bar U.S. companies from using telecommunications equipment made by Huawei and ZTE.
The FCC has also been considering for more than a year whether to require carriers to remove and replace equipment from firms deemed a national security risk. Pai said on Friday that proposal is still pending. (Reporting by David Shepardson Editing by Susan Thomas)