Tag: Yahoo Finance

Trucking News
18 Oct by Vitaliy Dadalyan

China Surveillance Giant Warns of Client Losses After U.S. Curbs

(Bloomberg) -- Hangzhou Hikvision Digital Technology Co. warned it may lose customers in overseas markets because of its U.S. blacklisting, underscoring the extent to which curbs on the sale of American technology may hurt the world’s largest video surveillance business.Executives at the Chinese camera provider, which reported profit in line with estimates Friday, said however the company was large enough to withstand U.S. sanctions and develop its own technology in the longer term. Its own market remains a rich source of revenue even though the U.S. business is also shrinking, a trend that may persist for a while, Huang Fanghong, a Hikvision senior vice president, said on an earnings call on Saturday.Hikvision found itself in the cross-hairs of the Trump administration this month after it joined other Chinese companies -- including Huawei Technologies Co. -- on an Entity List that prevents American firms from supplying it with components and software. The...
Trucking News
18 Oct by Vitaliy Dadalyan

China’s Liu Confirms Phase One of U.S. Trade Deal is in Progress

(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. China’s top trade negotiator offered positive signals that talks with the U.S. are making progress and both sides are working toward a partial trade deal.“China and the U.S. have made substantial progress in many aspects, and laid an important foundation for a phase one agreement,” Vice Premier Liu He said at a technology conference in Nanchang, Jiangxi, on Saturday. He reiterated that China is “willing to work in concert with the U.S. to address each other’s core concerns on the basis of equality and mutual respect.”The comments come as the U.S. and China work toward getting some sort of agreement ready for presidents Donald Trump and Xi Jinping to sign at the Asia-Pacific Economic Cooperation summit next month in Chile. The U.S. has said China will buy as much as $50 billion...