The Trump administration has reportedly reached an agreement that would keep Chinese telecom equipment manufacturer ZTE in business. The deal requires that ZTE pay a major fine, make management changes, and place U.S. compliance officers at the company. ZTE had earlier announced it would cease operations after the White House banned it from buying U.S. tech components in response to ZTE violating U.S. sanctions against North Korea and Iran. The new agreement would permit ZTE to resume its business with Qualcomm and other U.S. companies. Continue reading Federal Government Makes Deal to Put ZTE Back in Business

Less than a month ago, the U.S. Commerce Department sanctioned U.S. firms from supplying components to Chinese firm ZTE, claiming that the telecom equipment company had violated terms of a settlement regarding sales to Iran and North Korea. By last week, ZTE had closed its operations and, now, in a surprise intervention, President Donald Trump is stepping in to prevent ZTE’s bankruptcy, tweeting that he is working with Chinese President Xi Jinping. ZTE had made a request for a stay of the sanctions order, and the Commerce Department is reviewing it. Continue reading U.S., China Reportedly Working on Deal That Would Save ZTE

Chinese telecom equipment and systems company ZTE, which has about $17 billion in annual revenue, has ceased “major operating activities” in the wake of the Trump administration’s ban on it using U.S.-made components for the next seven years. Trading in its shares has been suspended for weeks, and its workers in the Shenzhen factory have little to do but attend occasional training sessions. New guidelines tell its staff to reassure clients, but not discuss the details of the U.S. technology the company is currently banned from using. Continue reading ZTE Ceases Main Operations in Response to U.S. Sanctions

A new executive order signed by President Obama earlier this week aims to warn off foreign online hackers from targeting the United States. The order authorizes severe consequences to the individual or foreign party determined to be involved with any attack that may compromise the security, foreign policy, economic health, and financial stability of the U.S. Any violations of the policy could result in both financial and travel sanctions as regulated by the federal government. Continue reading President Obama Approves Order Against Foreign Cyberattacks

During its much-publicized dispute over a new e-book contract with the Hachette Book Group, Amazon has proposed letting the publisher’s authors keep 100 percent of their e-book sales revenue while the tense negotiations continue. The proposal is Amazon’s response to Hachette authors’ complaints that they have become collateral damage in the ongoing negotiations. Hachette immediately rejected the proposal, suggesting that accepting it would be “suicidal.” Continue reading Amazon and Hachette Continue Tense E-Book Negotiations

The White House demanded this week that the Chinese government put an end to data theft involving American computer networks. The U.S. has called for China to agree to “acceptable norms of behavior in cyberspace.” The demand was made during a speech by national security advisor Tom Donilon to the Asia Society in New York and represents the first public confrontation with China regarding cyberespionage. Continue reading White House Demands China Put a Stop to Cyberattacks