Chip war: Japan and Netherlands expected to join US in ban on tech exports to China

A Washington official has made the most direct comments by a US authority to date acknowledging the existence of a deal with Japan and the Netherlands for those countries to impose new restrictions on exports of chipmaking tools to China. “We can’t talk about the deal right now,” said Don Graves, deputy commerce department secretary, on the sidelines of an event in Washington. “But you can certainly talk to our friends in Japan and the Netherlands.” Bloomberg reported on Friday an agreement had been finalised and two people familiar with…

Huawei Latest Target of US Crackdown on China Tech

huawei latest target of us crackdown on china tech

Washington —  China says it is “deeply concerned” over reports that the United States is moving to further restrict sales of American technology to Huawei, a tech company that U.S. officials have long singled out as a threat to national security for its alleged support of Beijing’s espionage efforts. As first reported by the Financial Times, the U.S. Department of Commerce has informed American firms that it will no longer issue licenses for technology exports to Huawei, thereby isolating the Shenzen-based company from supplies it needs to make its products.…

Chinese owner of Lotus Technology to list a stake in US via blank cheque firm

The Chinese owner of Lotus is to list a stake in a division of the luxury sports car group in the US as part of deal with a firm backed by the world’s richest man. China’s Geely said on Tuesday that it plans to merge electric carmaker Lotus Technology – an offshoot of the Norfolk-based sports car brand – with a special purpose acquisition vehicle (Spac) founded by L Catterton, which is backed by LVMH and its billionaire founder, Bernard Arnault. The Nasdaq listing is expected to value the business…

China attacks ‘unscrupulous’ US after reports of further crackdown on Huawei

China has reacted angrily to reports that the United States has stopped approving licences for American companies to export most items to China’s hi-tech company Huawei, accusing the US of deliberately targeting Chinese companies under the pretext of national security. US officials are creating a new formal policy of denial for shipping items to Huawei that would include items below the 5G level, including 4G items, wifi 6 and 7, artificial intelligence, and high-performance computing and cloud items, according to a Reuters report that quoted unnamed sources. Another source told…

Leaked EU plan reveals response to US and Chinese green subsidies

The EU executive will loosen state aid rules and propose a new “European sovereignty fund” later this year, in response to the controversial US Inflation Reduction Act and China’s “unfair” green subsidies. A leaked European Commission plan underscores the global green subsidy race is under way, although EU member states remain divided on how to respond. EU leaders are due to meet next week in Brussels to discuss the bloc’s response to Joe Biden’s $369bn (£300bn) Inflation Reduction Act, which aims to subsidise a vast expansion of green technology, from…

‘Everything is fake’: how global crime gangs are using UK shell companies in multi-million pound crypto scams

A woman meets a man online. They flirt. Then, after a few weeks, they begin imagining a future together. Fast forward a few months and one of them has had their heart broken and been defrauded of their life savings. It sounds like a classic romance scam, but it isn’t. This is “pig butchering”: a brutal, elaborate and rapidly expanding form of organised crime, often involving criminal syndicates, modern-day slaves and victims around the world. Since it came to prominence in 2021, the fraud – which involves scammers grooming their…

TechScape: Is ‘banning’ TikTok protecting users or censorship? It depends who you ask

The US battle with TikTok over data privacy concerns and Chinese influence has been heating up for years, and recent measures have brought college campuses to the forefront – with a number of schools banning the app entirely on campus wifi. Students have responded, of course, on TikTok. Taking advantage of viral sounds, they have expressed outrage at their favourite app being blocked at universities like Auburn, Oklahoma and Texas A&M in the past few months. “Do they not realize people in college are actually adults?” one user wrote. “We…

FBI Chief Says He’s ‘Deeply Concerned’ by China’s AI Program

fbi chief says hes deeply concerned by chinas ai program

washington —  FBI Director Christopher Wray said Thursday that he was “deeply concerned” about the Chinese government’s artificial intelligence program, asserting that it was “not constrained by the rule of law.” Speaking during a panel session at the World Economic Forum in Davos, Switzerland, Wray said Beijing’s AI ambitions were “built on top of massive troves of intellectual property and sensitive data that they’ve stolen over the years.” He said that left unchecked, China could use artificial intelligence advancements to further its hacking operations, intellectual property theft and repression of…

China takes great leap forward in Australia’s car market with EVs leading the charge

China is rapidly becoming one of the largest sources of new cars for Australian buyers with Chinese carmakers’ increasing dominance of electric vehicle sales in their home market potentially accelerating the transition off fossil-fuel powered transport. In 2022, sales of Chinese-made vehicles in Australia totalled 122,845 units, a 61.1% increase on the previous year, according to Federal Chamber of Automotive Industries data. In December, imports from China were more than double a year earlier. The increase made China the fourth-largest import source, narrowing the gap with larger rivals. Cars sourced…

Biden Urges Netherlands to Back Restrictions on Exporting Chip Tech to China

biden urges netherlands to back restrictions on exporting chip tech to china

WASHINGTON —  President Joe Biden hosted Dutch Prime Minister Mark Rutte on Tuesday at the White House, where he urged the Netherlands to support new U.S. restrictions on exporting chip-making technology to China, a key part of Washington’s strategy in its rivalry against Beijing. During a brief appearance in front of reporters before their meeting, Biden said that he and Rutte have been working on “how to keep a free and open Indo-Pacific” to “meet the challenges of China.” “Simply put, our companies, our countries have been so far just…