The Goldman Sachs technology M&A team, led by Sam Britton, has cashed in on its software focus and decades of experience to dominate 2019's biggest deals.Technologyread more
American small and medium-size companies that rely on China are scrambling to adjust their business plans in response to the escalating trade war.Traderead more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
The summit comes amid fears over a global economic slowdown, and U.S. tensions over trade allies, Iran and Russia.Politicsread more
The world's second biggest economy is past a point where it cannot ignore its enormous debt anymore, according to an analyst.China Economyread more
Carl Medlock used to work at Tesla. Now he's one of the few people in the U.S. that can fix the company's original Roadster electric vehicles.Technologyread more
Trump does have some powerful tools that would not require approval from U.S. Congress.Politicsread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
As demand for lab monkeys continues to rise, U.S. scientists are reporting delays in research projects because they can't obtain enough animals, according to the National...Politicsread more
The European Union will respond in kind if the U.S. imposes tariffs on France over digital tax plan, EU chief Donald Tusk told G-7.Technologyread more
Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.Politicsread more
The White House is planning to take a big step Wednesday toward preventing government agencies from doing business with Huawei, according to a senior administration official.
The Trump administration is expected to release a rule Wednesday afternoon that bans agencies from directly purchasing telecom, video surveillance equipment or services from Huawei. The prohibition was mandated by Congress as part of a broader defense bill signed into law last year.
"The administration has a strong commitment to defending our nation from foreign adversaries and will fully comply with Congress on the implementation of the prohibition of Chinese telecom and video surveillance equipment, including Huawei equipment," said Jacob Wood, a spokesman for the Office of Management and Budget.
The new rule, which will take effect Tuesday, also applies to a list of other telecom companies that have sparked security concerns, such as ZTE and Hikvision. In addition, the law set a deadline of August 2020 for a broader ban on federal contractors doing business with Huawei or the covered firms.
Contractors will be able to seek waivers from individual federal agencies if they do not believe their interaction with those companies poses a security threat.
The congressional mandate is separate from the Trump administration's own efforts to rein in Huawei's dominance in the industry.
The Commerce Department has put Huawei on a blacklist that effectively bans the export of goods to the company from the United States. U.S. chipmakers and tech firms can request waivers, and the chief executives of Google, Qualcomm, Micron, Intel and others met with President Donald Trump at the White House last month and urged the administration to issue those decisions quickly.
In addition, the White House has proposed a wide-ranging ban on American companies doing business with Huawei. Those rules have yet to be written, and the administration official did not have an update on its status.
Huawei is a telecom giant and the largest privately held company in China, but hawks on Capitol Hill and in the White House have warned of the company's close ties to the Beijing government and the risks of surveillance.
In an interview on CNBC, Huawei chief security officer Andy Purdy defended the company's track record. He argued that leaders in the United Kingdom and Germany had been told by U.S. officials there were no allegations of a cybersecurity threat from Huawei.
"We have tested the products of all vendors to international standards so that there's trust through verification," Purdy said.