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Sep.27 -- Alexious Lee, head of China strategy research at Jefferies, discusses Chinese markets and his investment strategy. He speaks on “Bloomberg Markets: China Open.”...
(Bloomberg) -- Semiconductor Manufacturing International Corp. retreated to a four-month low in Hong Kong after the U.S. imposed export restrictions on China’s largest chipmaker.The shares slumped as much as 7.9% on Monday, adding to their 25% loss for the month. Also listed in Shanghai, SMIC’s stock there retreated as much as 5.8% to the lowest level since its July debut. U.S. firms must now apply for a license to export certain products to the chipmaker, the Commerce Dept. said in a letter dated Sept. 25, reviewed by Bloomberg News. SMIC and its subsidiaries present “an unacceptable risk of diversion to a military end use,” the department’s Bureau of Industry and Security wrote.Read more: U.S. Imposes Restrictions on Exports to China’s Top ChipmakerThe U.S. stopped short of placing SMIC on the so-called entity list, which means the restrictions are not yet as severe as those imposed on China’s Huawei Technologies Co. Still,...
Sep.27 -- President Donald Trump’s ban on TikTok was temporarily blocked by a federal judge, dealing a blow to the government in its showdown with the popular Chinese-owned app. Bloomberg’s Stephen Engle reports on “Bloomberg Daybreak: Asia.”...
The initial five-year agreement implies that Piedmont will supply about a third of its planned 160,000-tonnes-per-year spodumene concentrate produce from its deposits in North Carolina. The deal comes on the heels of Tesla's "Battery Day" presentation last week when Chief Executive Elon Musk shared his vision of novel, proprietary Tesla batteries, following which Tesla stock lost more than $30 billion in market value. Piedmont said in a statement that the agreement marked the beginning of the its first U.S. domestic lithium supply chain and that talks are ongoing over other sales arrangements....
Sep.27 -- President Donald Trump answers questions about the New York Times article about his tax information for the last two decades. Trump is said to have paid $750 in federal income taxes in the year he won the presidency. He speaks at a news briefing at the White House....
A federal judge has halted the Trump Administration's ban on video-sharing app TikTok.Per multiple media reports, Judge Carl Nichols of the U.S. District Court in Washington, D.C. blocked the ban, which was set to go into effect at midnight Sunday.The news comes on the heels of a Sunday morning hearing where Judge Nichols listened to TikTok's lawyers, via dial-in, argue that a ban on TikTok downloads would be "devastating" and an attack on free speech.President Donald Trump has called the app a "national security" risk since it is owned by a Beijing-based parent company. ByteDance Ltd., which launched TikTok in 2018 after acquiring Shanghai-based video app Musical.ly for $1 billion, could gather data on Americans on behalf of Chinese authorities, he says.TikTok was told to find a U.S. buyer, otherwise the ban would go into effect.Enter Oracle Corp. (NYSE: ORCL) and Walmart Inc. (NYSE: WMT). The two companies agreed to buy...
