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The Morning Ledger: Huawei Arrest Steps Up U.S.-China Confrontation |
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Chinese President Xi Jinping and President Trump met in Beijing last November. PHOTO: ARTYOM IVANOV/TASS/ZUMA PRESS
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Good day. The Trump administration’s efforts to extradite the chief financial officer of China’s Huawei Technologies Co. over criminal charges mark the start of an even more aggressive phase in the technology rivalry between the U.S. and China and will increase pressure on Washington’s allies to shun the telecommunications company, reports The Wall Street Journal.
Tech, trade: The detention of Meng Wanzhou underscores a sense of urgency to address what U.S. agencies see as a growing threat to national security posed by China’s ambitions to gain an edge in the tech sector. It also complicates trade negotiations between the U.S. and China that have proved divisive in the past.
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Ripple effect: Japan is moving ahead with changes to its procurement guidelines that could restrict government use of equipment provided by Huawei and its rival ZTE Corp. This follows a global campaign by American officials to persuade allies to shun Huawei.
High priority: The arrest of Ms. Meng also shows the lengths to which the U.S. government will go when pursuing alleged violations of its sanctions on Iran, lawyers said. “Huawei may be a bigger deal than ZTE was,” said Timothy O’Toole, an attorney with the firm Miller & Chevalier. Huawei appointed Chairman Liang Hua as its acting chief financial officer to fill the void, CNBC reports.
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Big Lots Inc., Johnson Outdoors Inc. and Vail Resorts Inc. are among the companies slated to report earnings today.
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A Fiat Chrysler Automobiles assembly line in Sterling Heights, Mich. PHOTO: REBECCA COOK/REUTERS
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Fiat Chrysler Automobiles NV plans to open a new factory in Detroit, according to people briefed on the plan, the first new U.S. assembly plant to be opened by a major domestic car maker in at least a decade.
Tesla Inc. is replacing its general counsel, Todd Maron, with a seasoned trial lawyer who has decades of experience defending corporate interests.
Boeing Co. said Thursday it was canceling a controversial satellite order that was financed by a Chinese government-owned firm, citing default for nonpayment.
Lyft Inc. has filed confidential paperwork for an initial public offering, a key step that keeps the ride-hailing firm on pace to hit the public market early next year.
Deutsche Bank AG sought Thursday to reassure investors about the German bank’s stability following a fresh wave of negative news, including a surprise raid on its Frankfurt headquarters last week.
Broadcom Inc. pledged Thursday to return some $12 billion to shareholders this year as it overhauls software company CA Inc.’s business to a subscription-based model.
Coca-Cola Co. Chief Executive James Quincey will add the role of chairman next year, the company reported Thursday along with several other changes to its board.
Edward Lampert, the chairman and biggest creditor of Sears Holdings Corp., has made an offer to buy the retailer’s stores and other assets out of bankruptcy court in a bid to keep control of the struggling chain.
Activist investors, spending more cash than ever, are shifting their attention to new targets and honing their strategies.
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Drug pricing has emerged as a leading issue in Washington. PHOTO: GEORGE FREY/GETTY IMAGES
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Critics of high U.S. drug prices are launching a new line of attack against manufacturers of the medicines, faulting the firms for using savings from the tax overhaul to buy back shares rather than lower prices.
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The U.S. Justice Department met resistance Thursday from an appeals court that is reviewing AT&T Inc.’s courtroom victory in an antitrust case that allowed the company to acquire Time Warner Inc.
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Microsoft Corp. is urging governments world-wide to enact regulation of facial-recognition technology next year that requires independent assessment of accuracy and bias and prohibits ongoing surveillance of specific people without a court order.
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Actelion Pharmaceuticals US Inc. will pay $360 million to settle government allegations the company used a foundation to pay kickbacks meant to encourage Medicare patients to buy its drugs.
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A fracking site operated by WildHorse Resource Development in Caldwell, Texas. PHOTO: MICHAEL CIAGLO/HOUSTON CHRONICLE/ASSOCIATED PRESS
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The U.S. became a net exporter of oil and refined fuels last week for the first time in decades, a symbolic milestone that would have seemed unthinkable just 10 years ago.
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The total net worth of U.S. households rose further into record territory during the third quarter of 2018, as higher property and stock prices boosted the wealth of Americans.
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U.S. Federal Reserve officials are considering whether to signal a new wait-and-see mentality after a likely interest-rate increase at their meeting in December, which could slow down the pace of rate increases next year.
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The U.S. service sector expanded at a faster pace in November, a sign of continued strength in the domestic economy as the fourth quarter progressed.
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MedMen Enterprises Inc., a Culver City, Calif.-based cannabis company, on Thursday named Michael Kramer finance chief, effective Dec. 10.
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Interim CFO Jim Miller returns to his previous role as the company’s vice president of accounting, MedMen Enterprises said. Mr. Kramer comes from Forever 21 Inc. where he served as CFO. He also worked as chief operating officer of J.C. Penney Co. between December 2011 and April 2013. Compensation details weren't available.
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Every weekend we select a handful of in-depth articles we think are worth a bit of your time, either because they peel back the layers on a compelling business story, or somehow make us look at business in a different light.
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As business schools struggle to lure young professionals out of a hot U.S. job market, more are promoting online M.B.A.s with a twist: They are promising the convenience of a virtual degree, but with the social-networking benefits of a traditional one, reports The Wall Street Journal.
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Here are some ideas and insights that almost anyone can use when they have to work with someone they just don’t like, from the Harvard Business Review.
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