China tech firms ask the US to reconsider security risk designation
Chinese tech giants Huawei Technologies Co Ltd and ZTE Corp have requested the US administration to reconsider its designation of the companies as national security risks. The Federal Communications Commission unanimously voted in favor of the designation in November and is further considering requiring domestic telecom companies to replace any current Huawei and ZTE equipment.
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Former Uber security chief faces criminal charges for hiding 2016 breach
Federal prosecutors have charged former Uber security chief Joe Sullivan with obstruction of justice for hiding a 2016 data breach from Federal Trade Commission investigators. The criminal complaint, filed Thursday, suggests that Uber's then-CEO Travis Kalanick was aware of the breach and Sullivan's efforts to cover it up. But it argues that Sullivan kept others involved in Uber's FTC response in the dark about the incident.
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Arstechnica
Gold prices dropped 6%, the worst single-day decline in seven years
Gold prices fell more than 6% yesterday, the worst one-day decline in seven years as investors’ risk appetite returned, boosting U.S. stocks. Spot gold tumbled as much as 6% to $1,927.30 per ounce, down sharply from Friday’s record intraday high of $2,089.20. On Wednesday morning during Asia hours, spot gold fell further, last trading at $1880.16
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China’s exports jumped 7.2% against an estimated 0.2% fall
Dollar-denominated exports in China jumped 7.2% year-on-year, economists at Reuters predicted a fall of 0.2%. In July, China posted a trade surplus of $62.33 billion, beating the $42 billion economists had expected. China’s trade surplus was $46.42 billion in June. Despite the coronavirus pandemic hitting global demand, exports from China have held up as exports in medical supplies jumped in the first half of the year
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CNBC
China tries to find a new economic partner in South Korea
According to the latest media reports, South Korea and China are set to hold bilateral talks on the economy later this week. The talks will be held on Saturday in Qingdao, eastern China, where deputy ministers of the two sides will hold annual economic cooperation talks, South Korea’s Yonhap news agency said. The meeting comes amid escalating China-US trade and security tensions
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