U.S. and United Kingdom blacklist China's ZTE

Optical Stocks Under Pressure After US Bans Sales To ZTE

The ban targeting ZTE comes as the USA considers tariffs on up to $150 billion in Chinese imports as President Donald Trump tackles what he has said are unfair trade practices by Beijing.

Reuters quotes a senior department official who said that the company "provided information back to us basically admitting that they had made these false statements". A five year long federal investigation concluded that the company had been buying United States components and using them in its own products, some of which had been distributed in Iran and North Korea.

Also as a part of its punishment, ZTE agreed to dismiss four senior employees and penalize 35 others by reprimanding them and reducing bonuses. Trading in ZTE shares were suspended today in response.

The ban comes after ZTE violated an agreement that was reached after it was caught illegally shipping USA technology to Iran and North Korea. Some ZTE smartphones sold in the USA are equipped with Qualcomm chips. One of the key agreements was a seven-year suspended denial of export privileges, meaning that the penalty had already been incurred, but the USA was willing not to enforce it if ZTE kept its nose clean in the future. Qualcomm declined to comment on the matter, while Acacia did not respond to an inquiry. It might also be the first steps through the bureaucratic box ticking mission to officially ban ZTE.

Second, management noted "immaterial exposure" to ZTE from both the core Viavi test and measurement unit and the Cobham side (we estimate 2% of revenue or less for both). Secretary of Commerce Wilbur Ross was quoted as saying in an announcement by the department. Last year, AT&T pulled out of negotiations to sell Huawei phones in the USA amid pressure over national security concerns.

What to Expect and Who You'll See — Sunday's ACM Awards
This will be McEntire's first time back as host since 2012. " #CryPretty #ACMAwards ", Underwood captioned the photo . My wrist is sort of again to regular, about 90% there...and the docs say that final 10% will are available in time.

"We can't trust what they are telling us is truthful", the official continued.

ZTE had planned to introduce a 5G smartphone in about a year, with possibilities for a 5G table or wireless-internet hub, Cheng Lixin, ZTE's U.S. chief, said at the CES trade show in Las Vegas in January.

The US action could be devastating to ZTE since American companies are estimated to provide 25 to 30 per cent of components used in its equipment, which includes smartphones and gear to build telecommunications networks.

The U.S. action against ZTE is likely to further exacerbate current tensions between Washington and Beijing over trade. It accounted for 10% of the USA smartphone market past year, making it the fourth largest supplier, according to market research firm Counterpoint Technology.

Related News:

  • It looks like Sonny Gray has a Red Sox problem

    It looks like Sonny Gray has a Red Sox problem

    The Yankees manager thinks Major League Baseball could rule on possible suspensions Thursday. Here's a stroll down memory lane, and a look at three other classic Red Sox-Yankees melees.
    Sixers Embiid won't play in Game 2 against Heat

    Sixers Embiid won't play in Game 2 against Heat

    According to ESPN's Ramona Shelburne, Embiid passed the NBA's concussion protocol, but remains out. Embiid's presence made the Sixers a better defensive team. "I feel fine", Redick said.
    Niko Kovac: 10 things you didn't know about Bayern's new coach

    Niko Kovac: 10 things you didn't know about Bayern's new coach

    Never before have Bayern Munich entrusted the position of head coach to such a young man with no prior experience at a top club. With five league games remaining Kovac's men are up in 5th and right in contention for a Champions League spot.
  • Facebook faces Class Action suit over facial recognition on photos

    Facebook faces Class Action suit over facial recognition on photos

    Lawsuit challenges the social-network giant over its gathering of facial recognition data on photos without the consent of users. Facebook will face a class action lawsuit in the U.S. over its use of facial recognition technology, a federal judge has ruled.
    First Warning Forecast: More clouds, warm, storms move in late

    First Warning Forecast: More clouds, warm, storms move in late

    "Good Saturday morning! A large, slow-moving storm system is bringing winter is back to the area with a vengeance this weekend". Sound familiar? The timing could certainly change between now and late next week, so we'll keep our eyes on it for you.
    Blizzard Potential, Winter Storm Watch Expands

    Blizzard Potential, Winter Storm Watch Expands

    Amount of snow.in the northern edge of this Winter Storm Watch is where the heaviest snow is expected to fall. Roads will be slippery and visibility will be low due to blowing rain and snow throughout the weekend.
  • Facebook admits tracking users and non-users off-site

    Facebook admits tracking users and non-users off-site

    Access to public user preferences, likes, news feeds and shares-with given permission-are all swiftly monetized. The blog post also reviews the types of controls people with Facebook accounts have over their data.
    Budget Airline Allegiant Calls Out Critical '60 Minutes' Report

    Budget Airline Allegiant Calls Out Critical '60 Minutes' Report

    Since the 1990s, the FAA has stressed voluntary reporting of potential safety issues before taking punitive enforcement actions. In fact, Lowe, a certified travel counselor, helped a client book a flight Monday on Allegiant to Florida next fall.
    65th National Film Awards: Sridevi, 'Baahubali: The Conclusion', 'Newton's win awards

    65th National Film Awards: Sridevi, 'Baahubali: The Conclusion', 'Newton's win awards

    Though there is no one from the Malayalam film industry on the panel, Mollywood is hopeful of bagging some key awards this year. She also won the best actress award in Goa previous year for the International Film Festival in India for the film.
  • Unclear why 8-year-old slashed students

    Unclear why 8-year-old slashed students

    Beise says authorities don't file charges against children that young, they instead try to get them help. The child who brought the knife, and his parents, were brought to the Sauk Rapids police department.
    Remarkable Ricciardo's recovery to victory in China

    Remarkable Ricciardo's recovery to victory in China

    Ricciardo gained ground after pitting under the safety vehicle , switching to softs while the top runners stayed out with mediums. Verstappen crossed the line fourth, but that turned into fifth as the stewards handed him a 10-second penalty for hitting Vettel.
    Lawyer of fired FBI Deputy Dir. McCabe may file defamation suit vs

    Lawyer of fired FBI Deputy Dir. McCabe may file defamation suit vs

    The Trump administration suddenly fired McCabe weeks ago, just days before he was set to retire and receive his pension. As deputy director of the FBI , Andrew McCabe "admonished" other FBI officials over leaks he himself authorized.


Most liked

Police, protesters clash in Armenia as leader stays in power
Yerevan Police have detained some of the participants of a mass protest that has hit Armenia's capital since 13 April. Clashes broke out in the Armenian capital, Yerevan, as protester attempted to storm the parliament building.

Eagle Daryl Worley found with gun during arrest, reports say
Bennett and Worley appeared a joint press conference on March 19 at the NovaCare Complex after they joined the Eagles. According to NFL .com and WPVI-Channel 6 in Philadelphia, police received a call around 6 a.m.

Starbucks apologises over arrest of black men
An officer begins to clear chairs out of the way in apparent anticipation of an arrest. "We asked them to leave the first time". He said he has asked the Philadelphia Commission on Human Relations to examine the company's policies and procedures.

Wake and Funeral Set for Fallen Yarmouth Police Officer
Thirty-two-year-old Sean Gannon was fatally shot in the head while carrying out an arrest warrant on Thursday. The Yarmouth Police Department is holding a vigil Saturday night to honor a police officer killed on duty.

Blood samples show nerve agent, chlorine in Syria gas attack
Trump is considering his military options in Syria after Saturday's alleged chemical attack against the rebel-held town of Douma. France is already involved in the US -led coalition created in 2014 to fight the Islamic State group in Syria and Iraq.

#GC2018: Authorities disappointed as Cameroonian athletes disappear
FIVE Cameroon athletes competing at the Commonwealth Games on the Gold Coast have gone missing. Cameroon press attache Simon Molombe told Fairfax Media the athletes' whereabouts were unknown.

Russian Court Bans Telegram Application Later Hearing
This all started when KGB successor Federal Security Service (FSB) demanded access to Telegram's decryption keys a year ago . According to a blog post attributed to Telegram founder Pavel Durov, the app has built-in workarounds for such bans.

New BioShock Game in Developement
Until E3, we'll just have to stick with our imaginations about what comes next. This new BioShock is allegedly being developed right next door to Hangar 13.

CDC warns public of E.coli outbreak in romaine lettuce
Six of them were hospitalized and, of that group, one developed kidney failure from a condition called hemolytic uremic syndrome . Health officials are investigating a Panera Bread in Phillipsburg, New Jersey after a cluster of E. coli illnesses were reported.

Daredevils stunt Mumbai in thriller
One the other hand, the Knight Riders' last match was on Tuesday, providing them ample time to prepare for the clash. Rohit Sharma was unbeaten on 13 while left-handed Krunal Pandya was the new man in.

Firefighters battling house fire on Anderson Street
The forestry crew planned to remain at the scene until the fire could be established as completely out. Wilson said he doubted much would be saved because of the water used to fight the fire.

Blizzard and High Wind Warnings remain for eastern Colorado
The rain then began changing over to snow in Northwest Kansas, and a few flurries could fall across the Southwest. Areas northwest of Sioux City could get pummeled much harder, as Yankton, South Dakota, might see a foot of snow.

Winnie Mandela funeral: South Africa bids farewell to 'mother of the nation'
Concise News gathered that a full state honours was held on Saturday for the anti-apartheid icon at a stadium funeral in Soweto. In 1991, a court found Ms Madikizela-Mandela guilty of the boy's kidnapping and assault and sentenced her to six years in jail.

Xi vows to further open China economy as USA trade spat simmers
China has responded with its own $50 billion list of USA goods for retaliation if Washington goes ahead with the increase. He added: "Up to now China and the USA has not carried out negotiation at any level on the trade frictions".

B'Tselem dismisses Israel's investigation into Gaza killings as propaganda
Two journalists were wounded by gunfire, the Palestinian journalists' syndicate said, a week after a Gazan journalist was killed. Human rights groups have said soldiers can only use lethal force if they face an apparent imminent threat to their lives.