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☆ Shares of Apple suppliers fall on reports of China iPhone curbs
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +2 min

Taiwan's TSMC (2330.TW), the world's largest contract chipmaker and a major Apple supplier, dropped about 0.7%, outpacing a fall of about 0.3% in the benchmark index (.TWII). China could well expand its curbs on officials' use of iPhones, said Allen Huang, executive director of Mega International Investment Services Corp in Taipei. In China, Luxshare Precision Industry (002475.SZ), maker of connector cables for the iPhone and MacBook as well as AirPods, which also owns factories capable of making iPhones, fell 1.5%. Japanese chip equipment maker Tokyo Electron (8035.T) dropped 4% on Friday. Nearly a fifth of Apple's revenue is generated in China, where thousands of workers are employed by the company and its suppliers.

Persons: Ann Wang, Taiwan's TSMC, Allen Huang, Huang, Tim Cook, Ben Blanchard, Jeanny Kao, Brenda Goh, Sam Nussey, Edmund Klamann, Clarence Fernandez Organizations: Taiwan Semiconductor Manufacturing, REUTERS, Rights, Apple, company's, Staff, Reuters, ASE Technology, Co, Largan, Mega International Investment Services Corp, Huawei Technologies, Luxshare Precision Industry, Huawei, Tokyo, Thomson Locations: Hsinchu, Taiwan, Rights TAIPEI, China, outpacing, Taipei, iPhones, Beijing, Shanghai, Tokyo

☆ Stocks stumble as 'dollar juggernaut' on a roll
▼ + stars: | 2023-09-08 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

Passersby are reflected on an electric stock quotation board outside a brokerage in Tokyo, Japan April 18, 2023. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 0.2% in early trade and is down 1.4% for the week. "China’s partial ban on Apple products put trade wars and U.S.-China decoupling back on the agenda," said Capital.com analyst Kyle Rodda. U.S. suppliers' shares had fallen overnight and helped drag the S&P 500 (.SPX) 0.3% lower and the Nasdaq (.IXIC) down by 0.9%. The Australian dollar is down more than 1% on the week and traded at $0.6384 on Friday.

Persons: Issei Kato, TSMC, Kyle Rodda, Masato Kanda, Hirokazy Matsuno, Brent, Heekyong Yang, Shri Navaratnam Organizations: REUTERS, Rights, Japan's Nikkei, South Korea's SK Hynix, Huawei Technologies, Tokyo, Apple, Nasdaq, ANZ Bank, European Central Bank, Treasury, Brent, Thomson Locations: Tokyo, Japan, Rights SINGAPORE, U.S, Asia, Pacific, Hong Kong, China, South Korea's, Europe, Seoul

☆ Morning Bid: Apple and dollar roil markets
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +3 min

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, August 24, 2023. The broader U.S. tech sector also took a hit, while shares of several major Apple suppliers in Asia slid on Friday. Against a basket of currencies, the dollar is set to clock an eighth straight week of gains. A Reuters poll of forex strategists suggests that the dollar's strength will be difficult to overcome for most major currencies by the end of the year. The pan-European STOXX 600 index (.STOXX) has fallen for seven straight days, its worst string of losses since February 2018.

Persons: Ankur Banerjee, presales, Kim Coghill Organizations: REUTERS, Staff, Ankur, Apple, Huawei Technologies, U.S, Casino, Reuters, Thomson Locations: Frankfurt, Germany, China, Asia, Paris

Morgan Stanley analyst Erik W Woodring said Apple's share losses were "overdone" as he does not believe the curbs will lead to something broader. He added the worst case scenario was a 4% revenue hit and a 3% earning impact for the company. Analysts said U.S. sanctions on Huawei, in place since May 2019, hit the company's supply chain, helping Apple increase iPhone shipments to China and grab market share. J.P.Morgan said China's restrictions will make it tougher for Apple to continue to gain market share in China. BofA estimated a $0.11 to $0.34 earnings per share hit to Apple if Huawei was able to gain market share from the iPhone maker.

Persons: Thomas Peter, Morgan Stanley, Erik W Woodring, Woodring, HWT.UL, J.P.Morgan, Aniruddha Ghosh, Krishna Chandra Organizations: Apple, REUTERS, Wall Street, Beijing, BofA Global Research, Huawei Technologies, Huawei, Thomson Locations: Beijing, China, Bengaluru

People walk past a Huawei store with advertisements for the Mate 60 series smartphones, at a shopping mall in Beijing, China August 30, 2023. That's another really big advance they've made," Dan Hutcheson, an analyst with TechInsights, told Reuters. "The significance is that it shows that China has been able to stay 2-2.5 nodes behind the world's best (chip) companies. "China's been buying tools like crazy so they probably have the capability to do this and yield ok with it." Huawei and SMIC did not immediately respond to requests for comment.

Persons: Yelin, they've, Dan Hutcheson, TechInsights, chipmaker SMIC, Hutcheson, Gina Raimondo's, it's, China's, Brenda Goh, Joyce Lee, David Kirton, Miyoung Kim, David Evans Organizations: Huawei, REUTERS, Rights, Huawei Technologies, Reuters, The, HK, U.S . Commerce, SMIC, Apple, South Korea's SK Hynix Inc, SK Hynix, U.S, Thomson Locations: Beijing, China, The Ottawa, Huawei's, U.S, Seoul, Shenzhen

People walk past a Huawei store with advertisements for the Mate 60 series smartphones, at a shopping mall in Beijing, China August 30, 2023. REUTERS/Yelin Mo/File Photo Acquire Licensing RightsSHANGHAI, Sept 7 (Reuters) - Huawei Technologies' new high-end smartphone contains more China-made chip components than previous models in a sign of Beijing's advances in the semiconductor sphere, according to research firm TechInsights, which is taking the device apart. That's another really big advance they've made," Dan Hutcheson, an analyst with TechInsights, told Reuters. "The significance is that it shows that China has been able to stay 2-2.5 nodes behind the world's best (chip) companies. "China's been buying tools like crazy so they probably have the capability to do this and yield ok with it."

Surveillance cameras are seen near an iPhone advertisement at an Apple store in Beijing, China September 7, 2023. One of the sources said they had not yet been given a deadline to cease their iPhone use. Apple and China's State Council Information Office, which handles media queries on behalf of the government, did not immediately respond to requests for comment. Bloomberg on Thursday reported that China planned to broaden the ban to state firms and agencies, citing sources. China has increasingly emphasized using locally made tech products, as technology has become a major national security issue for Beijing and Washington.

Persons: Florence Lo, China's, Tesla, Tim Cook, D.A, Davidson, Tom Forte, Yuvraj Malik, Jaspreet Singh, Brenda Goh, Alexander Smith, Shounak Organizations: Apple, REUTERS, U.S ., Staff, China's, Information Office, Huawei Technologies, Observer, Wall Street Journal, Bloomberg, Citi, Canalys, Government, HK, Huawei, Thomson Locations: Beijing, China, HONG KONG, BEIJING, Washington, U.S, Hong Kong, Shanghai, Bengaluru

☆ SMIC stock plunges as US calls for further sanctions of China's top chipmaker over Huawei smartphone
▼ + stars: | 2023-09-07 | by ( Laura He | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —Shares in SMIC, China’s largest contract chipmaker, plunged on Thursday, after two US congressmen called on the White House to further restrict export sales to the company. The comments came after Huawei Technologies introduced the Mate 60 Pro, a Chinese smartphone powered by an advanced chip that is believed to have been made by SMIC. TechInsights, a research organization based in Canada specializing in semiconductors, revealed shortly after the launch that the smartphone contained a new 5G Kirin 9000s processor developed specifically for Huawei by SMIC. Gallagher was quoted as saying SMIC may have violated US sanctions, as this chip likely could not be produced without US technology. Hua Hong Semiconductor, China’s second largest chip foundry, tumbled 4.8%.

Persons: SMIC, ” Jefferies, Qilai Shen, Mike Gallagher, Gallagher, ”, Texas Republican Michael McCaul, “, Gina Raimondo, Raimondo, SMIC’s, Biden Organizations: Hong Kong CNN —, House, Huawei Technologies, Kirin, Huawei, SMIC, Semiconductor Manufacturing International Corp, Bloomberg, Getty, US Commerce Department, Reuters, Semiconductor Manufacturing International Corporation, Hua Hong Semiconductor, Texas Republican, Foreign Affairs Committee, US, US Commerce, Huahong Semiconductor, CNN, Jefferies Locations: China, Hong Kong, SMIC, China’s, Chinese, Shanghai, United States, Canada

The difficulty of this achievement also shows the resilience of the country’s chip technological ability," TechInsights analyst Dan Hutcheson said. EUV refers to extreme ultraviolet lithography and is used to make 7 nm or more advanced chips. LIMITED ACHIEVEMENTThe most advanced chip SMIC had previously been known for making was 14nm, as it was barred by Washington in late 2020 from obtaining an EUV machine from Dutch firm ASML (ASML.AS). But TechInsights last year said it believed SMIC had managed to produce 7 nm chips by tweaking simpler DUV machines it could still purchase freely from ASML. Jefferies analysts reckon Huawei is preparing to ship ten million units of the Mate 60 Pro, though it may struggle to support that quantity with China-made 7 nm chips.

Persons: Gina Raimondo's, chipmaker SMIC, Dan Hutcheson, EUV, Jefferies, TechInsights, SMIC, Tilly Zhang, Dragonomics, Zhang, Doug Fuller, David Kirton, Max Cherney, Brenda Goh, Miyoung Kim, Nick Zieminski Organizations: FRANCISCO, Huawei Technologies, U.S, Huawei, U.S . Commerce, Kirin, HK, U.S . Commerce Department's, of Industry, Security, China, U.S . Department of Commerce, China's State Council, Reuters, Copenhagen Business School, Thomson Locations: SHENZHEN, China, California, Washington, Ottawa, U.S, China's, Netherlands

☆ Teardown of Huawei's new phone shows China's chip breakthrough
▼ + stars: | 2023-09-04 | by ( ) www.reuters.com time to read: +2 min

[1/2] A staff member introduces the new Huawei Mate 60 smartphone to customers at the Huawei flagship store in Shenzhen, Guangdong province, China August 30, 2023. Huawei's Mate 60 Pro is powered by a new Kirin 9000s chip that was made in China by Semiconductor Manufacturing International Corp (SMIC), TechInsights said in the report shared with Reuters on Monday. Huawei started selling its Mate 60 Pro phone last week. The specifications provided advertised its ability to make satellite calls, but offered no information on the power of the chipset inside. Buyers of the phone in China have been posting tear-down videos and sharing speed tests on social media that suggest the Mate 60 Pro is capable of download speeds exceeding those of top line 5G phones.

Persons: David Kirton, Huawei's, TechInsights, Gina Raimondo, Dan Hutcheson, " Raimondo, Shivani Tanna, Max A, Sandra Maler Cherney, Shilpi Majumdar Organizations: Huawei, REUTERS, Huawei Technologies, HK, Semiconductor Manufacturing International Corp, Reuters, Bloomberg News, SMIC, U.S . Commerce, Thomson Locations: Shenzhen, Guangdong province, China, Kirin, U.S, SMIC, Bengaluru, Max, San Francisco

☆ Tencent, others begin enforcing China's new oversight move on apps
▼ + stars: | 2023-09-04 | by ( Josh Ye | ) www.reuters.com time to read: +3 min

The moves comply with new rules introduced last month as Beijing tightens oversight of mobile apps in the country. "The Android app stores have confirmed that new apps require the app filings from Friday onwards, and existing apps must have it from March 31 onwards," Rich Bishop, CEO of app publishing firm AppInChina said. "It forces all global apps on these app stores to either establish a local entity or work with a local partner." As of Monday, it is not yet checking apps' filing status, AppInChina said, citing its own checks. The notice also said app stores will have to clearly mark each app's filing status on their platforms.

Persons: Aly, Rich Bishop, AppInChina, Vivo, Tencent's, MIIT, Josh Ye, Brenda Goh Organizations: World Internet Conference, REUTERS, Tencent Holdings, HK, Reuters, Tencent, Huawei Technologies, Apple, Ministry of Industry, Information Technology, Huawei, Xiaomi, Thomson Locations: Wuzhen, Zhejiang province, China, HONG KONG, Beijing

☆ China's Huawei opens cloud data centre in Saudi Arabia in regional push
▼ + stars: | 2023-09-04 | by ( ) www.reuters.com time to read: +1 min

"The implementation of Huawei cloud is not just about us, but is a bridge that will bring other Chinese companies to Saudi Arabia," said Steven Yi, the company's regional president. The step would contribute to the development of the country's digital economy, he said, adding that Huawei opened its regional headquarters in the Saudi capital this year. Saudi Arabia has previously said it would not sign contracts with foreign companies that did not have regional headquarters in the kingdom after this year. Huawei ranked fifth in the global cloud services market in the first quarter, with a market share of 2.4%, although it was the second-largest vendor in mainland China, according to research consultancy Canalys. In February Huawei said it would invest $400 million in the Saudi Arabia cloud region over the next five years.

Persons: Eric Gaillard, Steven Yi, David Kirton, Mo Yelin, Clarence Fernandez Organizations: Huawei, Artificial Intelligence Cannes, REUTERS, Rights, Huawei Technologies, Thomson Locations: Cannes, France, Rights SHENZHEN, China, Saudi, Riyadh, East, North Africa, Huawei's, Saudi Arabia, Shenzhen, Mo, Beijing

☆ Has Huawei overcome U.S. sanctions by developing its own 5G chip?
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +4 min

A staff member introduces the new Huawei Mate 60 smartphone to customers at the Huawei flagship store in Shenzhen, Guangdong province, China August 30, 2023. The U.S. and some European countries have called Huawei a security risk, which the company denies. IS THE MATE PRO 60 A 5G PHONE? Huawei has kept mum, only saying that the smartphone is the "most powerful Mate model ever". Several Huawei staff said the phone's launch had taken them by surprise, with its official release initially scheduled for Sept. 12.

Persons: David Kirton, Dan Hutcheson, Hutcheson, Gina Raimondo, Nicole Peng, Mo Yelin, Max Cherney, Robert Birsel Organizations: Huawei, REUTERS, Rights, Huawei Technologies, U.S, Apple, Samsung, Reuters, China's Semiconductor Manufacturing International, HK, Global Times, . Commerce, ., Thomson Locations: Shenzhen, Guangdong province, China, Rights SHENZHEN, U.S, Kirin, SMIC, Weibo, Mo, Beijing, San Francisco

☆ China's Nio to launch first mobile phone in Sept to boost appeal of EV
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +2 min

Nio's founder and chief executive, William Li, was a key driver of the phone project, which the automaker is targeting mainly at drivers of its cars. As the smartphone trend fuels great demand for connectivity, from drivers, more automakers are seeking ways to stay ahead of the growing competition. But Nio's phone project has raised concern among some investors as the company battles widening losses and a sales slump amid a price war started by Tesla in January. Nio posted a net loss of 6.12 billion yuan ($839.51 million) in the second quarter, versus a loss of 2.75 billion yuan in the corresponding period a year ago. Li said Nio would launch the first model of its new EV brand targeting the mass market in the second half of 2024.

Persons: William Li, Li, Tesla, Nio, Zhang Yan, Brenda Goh, Clarence Fernandez Organizations: HK, Zhejing, Huawei Technologies, Seres, CYVN Holdings, EV, Thomson Locations: SHANGHAI

REUTERS/Aly Song/File Photo Acquire Licensing RightsSHENZHEN, China/SHANGHAI, Aug 30 (Reuters) - Chinese chip stocks rallied on Wednesday following Huawei Technologies' (HWT.UL) launch of its new Mate 60 Pro phone, as investors speculated it could be using a 5G capable chip which, if true, would mark a win for China's local semiconductor sector. On Tuesday, the company began selling its Mate 60 Pro around midday for 6,999 yuan ($960) in an unusually low-key fashion, having given no advance notice or conducted advertising. The specifications provided for the Mate 60 advertised its ability to make satellite calls, but provided no information on the power of the chipset inside. Huawei, whose woes with Washington have become a key flashpoint in U.S.-China relations, declined to comment on whether the phone was 5G capable but said in a statement the Mate 60 series was its most powerful Mate model ever. CHIP SHARES JUMPChina's semiconductor sector (.CSIH30184) jumped more than 2.5% on Wednesday, sending weekly gains to roughly 8%.

Persons: Aly, Lu Deyong, Lu, Nicole Peng, David Kirton, Jason Xue, Mo Yelin, Lincoln Organizations: Huawei, Artificial Intelligence, REUTERS, Rights, Huawei Technologies, Reuters, chipmaking, Semiconductor Manufacturing International, Pro, Staff, Washington, China's Semiconductor Manufacturing International Corp, Sai MicroElectronics Inc, Thomson Locations: Shanghai, China, Rights SHENZHEN, SHANGHAI, Washington, Beijing, Shenzhen, Kirin, Mo

☆ Huawei is building secret network for chips, trade group warns - Bloomberg News
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: +1 min

Visitors walk past the Huawei logo at the World Artificial Intelligence Cannes Festival (WAICF) in Cannes, France, February 10, 2023. REUTERS/Eric Gaillard/File Photo Acquire Licensing RightsCompanies Huawei Technologies Co Ltd FollowAug 22 (Reuters) - Huawei Technologies Co is building a collection of secret semiconductor-fabrication facilities across China to let the company skirt U.S. sanctions, a Washington-based semiconductor association has warned, Bloomberg News reported on Tuesday. The U.S. Commerce Department had added Huawei to its export control list in 2019 over security concerns. If Huawei is constructing facilities under names of other companies as Semiconductor Industry Association says, then it might be able to circumvent U.S. government restrictions to indirectly purchase American chip-making equipment, according to the Bloomberg report. Huawei and the Semiconductor Industry Association did not immediately respond to Reuters' requests for comment.

Persons: Eric Gaillard, Akanksha, Sherry Jacob, Phillips Organizations: Huawei, Artificial Intelligence Cannes, REUTERS, Huawei Technologies Co, Huawei Technologies, Bloomberg, Semiconductor Industry Association, U.S . Commerce Department, Thomson Locations: Cannes, France, China, Washington, United States, Bengaluru

☆ China's Honor stages India return with local manufacturing plans in early 2024
▼ + stars: | 2023-08-21 | by ( Indranil Sarkar | ) www.reuters.com time to read: +2 min

REUTERS/Nacho Doce/File Photo Acquire Licensing RightsBENGALURU, Aug 21 (Reuters) - Chinese smartphone brand Honor will relaunch in India through a licensing deal with a local company and is aiming to start domestic manufacturing by early next year, its country head told Reuters. Honor had stopped selling its smartphones in India and reportedly retreated last year amid limited marketing budget and less prudent portfolio management. It will launch three variants of Honor phones in India, with the mid-ranged Number series expected by September. The company, wholly owned by local shareholders, will make, sell and service Honor-branded smartphones in India. Honor Tech aims to capture a 5% share of India's smartphone market by sales volumes in 2024, with a revenue of at least 100 billion rupees ($1.20 billion), Sheth said.

Persons: Magic, Nacho, Neil Shah, Madhav Sheth, Realme, Sheth, Indranil Sarkar, Dhanya Skariachan, Dhanya Ann Thoppil Organizations: Congress, REUTERS, Rights, Reuters, Huawei Technologies, Counterpoint Research, Tech, Samsung Electronics, Vivo, Thomson Locations: Barcelona, Spain, India, Bengaluru

☆ China's Huawei reports small revenue bump on back of core businesses
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +2 min

A visitor checks a mobile phone near the Huawei logo during the Mobile World Congress in Shanghai, China June 28, 2023. REUTERS/Nicoco Chan/File PhotoSHENZHEN, China, Aug 11 (Reuters) - China's Huawei Technologies (HWT.UL) saw modest revenue growth in the first half of the year, with its core information and communications technology (ICT) infrastructure and consumer businesses generating the lion's share. Revenues rose to 310.9 billion yuan ($43.01 billion), up 3.1% on the same period a year earlier, the Shenzhen-based technology giant announced on Friday. Huawei's profit margin rose to 15%, with a net profit of 46.6 billion yuan, making, according to Reuters calculations, around a threefold improvement on a year earlier. "In the first half of 2023, our ICT infrastructure business remained solid and our consumer business achieved growth," said Meng Wanzhou, Huawei's rotating chairperson and the daughter of its founder, Ren Zhengfei.

Persons: Nicoco Chan, Meng Wanzhou, Ren Zhengfei, Richard Yu, David Kirton, Simon Cameron, Moore Organizations: Huawei, Mobile, Congress, REUTERS, Huawei Technologies, Reuters, Thomson Locations: Shanghai, China, SHENZHEN, Shenzhen, U.S

☆ Two US lawmakers raise security concerns about Chinese cellular modules
▼ + stars: | 2023-08-08 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

Jonathan Newton/Pool via REUTERS/File PhotoWASHINGTON, Aug 8 (Reuters) - Two U.S. lawmakers on Tuesday asked the Federal Communications Commission (FCC) to address questions about potential security concerns involving cellular modules made by Chinese companies including Quectel (603236.SS) and Fibocom Wireless (300638.SZ). Cellular modules are components that enable internet of things (IoT) devices to connect to the internet. The lawmakers asked if the FCC is considering using the Covered List to address Chinese-owned cellular modules. "Could requiring certification for modules used in communications equipment be an effective means" of addressing Chinese modules in U.S. networks? In 2022, the Chinese Embassy in Washington said the FCC "abused state power and maliciously attacked Chinese telecom operators again without factual basis."

Persons: Jessica Rosenworcel, Jonathan Newton, Mike Gallagher, Raja Krishnamoorthi, David Shepardson, Mark Porter, Leslie Adler Organizations: U.S . Senate Commerce, Science, Transportation, Federal Communications Commission, Tuesday, Fibocom Wireless, Republican, China, FCC, Pacific Networks Corp, HK, Huawei Technologies, ZTE Corp, Hytera Communications Corp, Hangzhou Hikvision Digital Technology, Zhejiang Dahua Technology, Embassy, Huawei, Thomson Locations: Washington , U.S, Quectel, China, Hangzhou, Zhejiang, Washington

☆ China's Huawei's handset business making a comeback, executive says
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +1 min

A visitor checks a mobile phone near the Huawei logo during the Mobile World Congress in Shanghai, China June 28, 2023. Huawei's share of the domestic smartphone market share grew by 76.1% in the second quarter, and took second spot in the high-end sector, Yu said. The company held 11.3% of the overall China market in the second quarter, behind five competitors led by Vivo and Apple, according to Counterpoint Research. Several rounds of U.S. restrictions on U.S.-made technology limited Huawei to producing last-generation 4G handsets, causing its once sizeable handset market share to plummet both at home and abroad. Yu said Huawei's in-house Harmony operating system has "overcome many challenges" in the last four years, noting there were now 2.2 million developers for the system.

Persons: Nicoco Chan, Richard Yu, Huawei's, Yu, David Kirton, Jason Neely Organizations: Huawei, Mobile, Congress, REUTERS, Huawei Technologies, Vivo, Apple, Research, Harmony, Reuters, Thomson Locations: Shanghai, China, SHENZHEN, Dongguan, U.S

☆ Huawei ban would cost German rail operator 400 million euros, der Spiegel reports
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +1 min

A Huawei logo is seen on a cell phone screen in their store at Vina del Mar, Chile July 18, 2019. REUTERS/Rodrigo Garrido/File photoBERLIN, Aug 4 (Reuters) - Germany's national railway operator would have to spend up to 400 million euros ($437.44 million) to replace all the components in its infrastructure supplied by Chinese tech giant Huawei Technologies [RIC:RIC:HWT.UL], Spiegel magazine reported on Friday. Deutsche Bahn, which is state-owned, would face delays of five to six years for its projects if the German government decided to ban Huawei components in the short term, the report said, citing an internal company document. A spokesperson for Deutsche Bahn said the company would not comment on internal documents. Any decision to ban Huawei outright would likely draw an angry response from Beijing, with the Chinese foreign ministry having urged Berlin to act in line with its own interests and international rules.

Persons: Rodrigo Garrido, Rachel More, Miranda Murray Organizations: Huawei, Vina del, REUTERS, Huawei Technologies, Spiegel, Deutsche Bahn, Deutsche Telekom, Thomson Locations: Vina del Mar, Chile, BERLIN, Beijing, Berlin

☆ Head of US 'KleptoCapture' unit targeting Russian oligarchs leaves Justice Dept.
▼ + stars: | 2023-07-27 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +3 min

Andrew Adams, who has led the "KleptoCapture" task force since its inception in March 2022, will be replaced by his deputies Michael Khoo and David Lim, a DOJ spokesperson said. "It was a privilege to cap this time in service of the Department's response to the war in Ukraine," Adams, a 10-year Justice Department veteran, wrote in a LinkedIn post. In launching the task force, U.S. Attorney General Merrick Garland said it would enforce sanctions and export controls designed to freeze Russia out of global markets, and confiscate assets obtained through unlawful conduct. During Adams' tenure, the unit unveiled indictments against aluminum magnate Oleg Deripaska and TV tycoon Konstantin Malofeyev for alleged sanctions busting, and seized yachts belonging to sanctioned oligarchs Suleiman Kerimov and Viktor Vekselberg. Reporting by Luc Cohen in New York; Additional reporting by Sarah N. Lynch in Washingon, D.C.; Editing by Daniel WallisOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrew Adams, Michael Khoo, David Lim, Adams, General Merrick Garland, Oleg Deripaska, Konstantin Malofeyev, Suleiman Kerimov, Viktor Vekselberg, Artem Uss, Khoo, Lim, Luc Cohen, Sarah N, Lynch, Daniel Wallis Organizations: U.S . Department, Reuters, Department of Justice, DOJ, Department, Vekselberg's, Huawei Technologies, Iran, Airbus, D.C, Thomson Locations: Moscow, Ukraine, New York City , New York, U.S, Russia, York, Russian, Italy, New York, Washingon

The executives plan to hold meetings with U.S. officials to talk about market conditions, export controls and other matters affecting their businesses, one of the sources said. Intel and Qualcomm declined to comment, and officials at the White House did not immediately return a request for comment. The sources said other semiconductor CEOs may also be in Washington next week. The chip industry has been warmly received in Washington in recent years as lawmakers and the White House work to shift more production to the U.S. and its allies, and away from China. Many U.S. chip firms get more than one-fifth of their revenue from China, and industry executives have argued that reducing those sales would cut into profits that they reinvest into research and development.

Persons: Arnd, Biden, Pat Gelsinger, Cristiano Amon, Andrea Shalal, Stephen Nellis, Karen Freifeld, Chris Sanders, Edmund Klamann Organizations: Intel Corporation, REUTERS, Intel Corp, Qualcomm Inc, Intel, Qualcomm, White, Huawei Technologies Co, Reuters, Huawei, Nvidia, Nvidia Corp, Thomson Locations: Davos, Switzerland, Washington, China, U.S, Beijing, Many U.S, San Francisco, New York

REUTERS/Arnd Wiegmann/File PhotoJuly 14 (Reuters) - The chief executives of Intel Corp (INTC.O) and Qualcomm Inc (QCOM.O) are planning to visit Washington next week to discuss China policy, according to two sources familiar with the matter. The executives plan to hold meetings with U.S. officials to talk about market conditions, export controls and other matters affecting their businesses, one of the sources said. Intel and Qualcomm declined to comment, and officials at the White House did not immediately return a request for comment. The sources said other semiconductor CEOs may also be in Washington next week. U.S. officials are considering tightening export rules affecting high-performance computing chips and shipments to Huawei Technologies Co Ltd, sources told Reuters in June.

Persons: Arnd, Biden, Andrea Shalal, Stephen Nellis, Karen Freifeld, Edmund Klamann Organizations: Intel Corporation, REUTERS, Intel Corp, Qualcomm Inc, Intel, Qualcomm, White, Huawei Technologies Co, Reuters, Huawei, Nvidia, Thomson Locations: Davos, Switzerland, Washington, China, U.S, San Francisco, New York

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