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☆ Brazil's President Calls U.S. Economic Embargo on Cuba 'Illegal,' Condemns Terrorist List Label
▼ + stars: | 2023-09-16 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +2 min

And to this day it is the victim of an illegal economic embargo," Lula said in a speech opening the G77 Summit of developing nations in the capital, Havana. The comments were made just hours before Lula left for New York, where he will attend the United Nations General Assembly and have bilateral talks with Biden. Earlier, Cuba expressed concerns over the label and Washington’s decades-old Cold War-era economic embargo against the island governed by the Communist Party of Cuba. Cuba and critics of the economic sanctions say the embargo prevents and hampers access to food, medicine and other critical development supplies. In 2019, during the first year of right-wing Jair Bolsonaro's administration, Brazil voted against the motion along with the United States and Israel.

Persons: Luiz Inacio Lula da Silva, Donald Trump, Biden, Lula, Lisandra Paraguassu, Steven Grattan, Aurora Ellis Organizations: Reuters, Former U.S, Trump, United Nations General Assembly, Communist Party of Cuba, European Union, U.S . State Department, United Nations Locations: BRASILIA, Cuba, United States, Havana, Brazil, New York, Israel, Paris

☆ Brazil's president calls U.S. economic embargo on Cuba 'illegal,' condemns terrorist list label
▼ + stars: | 2023-09-16 | by ( ) www.reuters.com time to read: +3 min

Persons: Luiz Inacio Lula da Silva, Donald Trump, Biden, Lula, Lisandra Paraguassu, Steven Grattan, Aurora Ellis Organizations: Former U.S, Trump, United Nations General Assembly, Communist Party of Cuba, European Union, U.S . State Department, United Nations, Thomson Locations: BRASILIA, Cuba, United States, Havana, Brazil, New York, Israel, Paris

☆ The Fed is expected to hold rates steady next week, but its guidance will be key for investors
▼ + stars: | 2023-09-15 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

The Federal Reserve is widely anticipated to hold rates steady in the week ahead, but key for investors will be the central bank's guidance on where it's headed from here. Investors are assessing a mixed batch of economic reports ahead of the Fed's September policy meeting. Meanwhile, August retail sales came in better than expected, jumping 0.6% against a 0.1% increase expected by economists. Housing data released in the week ahead could show whether housing demand remains solid. Week ahead calendar All times ET.

Persons: Bank's Rob Haworth, Jerome Powell, Powell, Hogan, Instacart, Arm's, Mills, Lisa Cook, —, Jeff Cox, Michael Bloom Organizations: Federal Reserve, Dow Jones, Dow, Nasdaq, Investors, PPI, Federal, Riley, FedEx, Housing, Philadelphia Fed, Darden, FactSet, Systems, National Bureau of Economic Research, Artificial Intelligence, PMI, SA, PMI Manufacturing SA, PMI Services SA Locations: NAHB, Toronto, Canada

TOKYO (AP) — Asian shares were mostly higher Friday after China reported that its slowing economy showed signs of stabilizing in August. That is seen as a sign the economy may be breaking out of its post-pandemic malaise. “The Arm IPO optimism and China’s further stimulus measures boosted sentiment across Asian stock markets,” Tina Teng, a markets analyst at CMC Markets APAC & Canada, said in a commentary. A third report said prices getting paid at the wholesale level rose more last month than economists expected. Ignoring those and other particularly volatile prices, underlying inflation trends in Thursday’s report were closer to economists’ expectations.

Persons: Hang Seng, “, Australia's, Tina Teng, they’re, Mike Loewengart, ” Organizations: TOKYO, China, People's Bank of, Nikkei, SoftBank Group Corp, Arm Holdings, Nasdaq, CMC, Dow Jones Industrial, Treasury, Federal Reserve, Fed, CME Group, Morgan Stanley Global Investment, Brent, U.S . Locations: Shanghai, People's Bank of China, Tokyo, Canada, U.S

That’s discouraging for shoppers paying higher prices, but much of the acceleration was because of higher fuel costs. The inflation report was so highly anticipated because it will help steer what the Federal Reserve does next on interest rates. Even though economists are willing to ignore fuel costs when looking at inflation to find the underlying trends, households and companies don’t get the same luxury. American Airlines cut its forecast for profits during the summer because fuel costs are running higher than it expected. Spirit Airlines said it’s also paying higher fuel costs this summer than expected, roughly $3.06 per gallon instead of the $2.80 it had earlier forecast.

Persons: don’t, it’s, It’s, Brent Organizations: Federal Reserve, Nikkei, Dow Jones, Nasdaq, Fed, American Airlines, Spirit Airlines, United Airlines, Delta Air Lines, Microsoft, Nvidia, Moderna, New York Mercantile Exchange, U.S Locations: Asia, Seoul, Hong, Hong Kong, Shanghai, Australia, U.S

☆ Elon Musk to meet Israel's Benjamin Netanyahu in Silicon Valley
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +4 min

Sept 14 (Reuters) - Israeli Prime Minister Benjamin Netanyahu will meet X owner Elon Musk on Monday in Silicon Valley, an official in Netanyahu's office said on Thursday, and Musk said their talks would focus on artificial intelligence technology. The Israeli official confirmed the meeting with Musk, first reported by the Washington Post, but offered no further details. In Silicon Valley, Netanyahu may try to bolster relations with executives in the high tech sector, a key driver of Israel's economy. Hate speech on X, formerly known as Twitter, has increased dramatically since Musk bought the site last year and loosened safeguards around content moderation. Biden has not met with Netanyahu since the Israeli leader took office for a sixth term in late December.

Persons: Benjamin Netanyahu, Elon Musk, Musk, Netanyahu, Joe Biden, Musk’s, AJ Brown, Biden, Kanjyik Ghosh, Steven Scheer, Lisa Shumaker, Howard Goller Organizations: General Assembly, Washington Post, Post, Center, Defamation League, ADL, The, Defamation, Reuters, West Bank . Foreign, Thomson Locations: Silicon Valley, California, New York, Bengaluru, Jerusalem

☆ US Commerce head to meet with CEOs after China trip -sources
▼ + stars: | 2023-09-12 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

U.S. Secretary of Commerce Gina Raimondo attends a press conference at the Boeing Shanghai Aviation Services near the Shanghai Pudong International Airport, in Shanghai, China August 30, 2023. REUTERS/Aly Song Acquire Licensing RightsWASHINGTON, Sept 12 (Reuters) - U.S. Commerce Secretary Gina Raimondo expected to meet with the chief executives of major American companies this week, two weeks after a trip to China where she raised concerns about business conditions, sources told Reuters. She said last month she had spoken to more than 100 U.S. company CEOs ahead of her trip to China about difficulties doing business there. Raimondo in China talked up American companies' desire to do business in China and her hopes for further engagement with Chinese officials on market access. On Aug. 30 in Shanghai, Raimondo said she hoped to "see some results" in the next few months as a result of her four-day visit to Beijing and Shanghai.

Persons: Gina Raimondo, Aly, Raimondo, David Shepardson, Jonathan Oatis, David Gregorio Our Organizations: Boeing Shanghai Aviation Services, Shanghai Pudong International Airport, REUTERS, Rights, . Commerce, Commerce Department, Thomson Locations: Shanghai Pudong, Shanghai, China, Washington, U.S, Beijing

Ahead of the High Holidays that begin this week, a network of Jewish security experts and religious leaders hosted several webinars to help prepare for the season. Among the topics: How to respond to an “active threat” targeting the Jewish community, and how to stop severe bleeding. Over recent years — in the face of increased antisemitic threats and violence — the season also is a time of heightened vigilance. “The High Holidays are about renewal — about trying to build a better world,” said Rabbi Noah Farkas, president of the Jewish Federation of Greater Los Angeles. Earlier this month, the Orthodox Union, the largest Orthodox Jewish umbrella organization, announced a partnership with the Community Security Service, a leading Jewish security organization, to encourage more Orthodox congregation members to volunteer for security training.

Persons: ”, Noah Farkas, ” Farkas, Ryan Scott Bradford “, Martin Estrada, Farkas ’, Robert Bowers, ” —, Eric Fingerhut, —, Rosh Hashana, “ It’s, Jeffrey Abrams, Larry Mead, Mead, it's “, “, ” Mead, Mead “, Rabbi Jeffrey Myers, Rabbi Charlie Cytron, Walker, Tim Torell, ” Torell, ’ We’re, Torell Organizations: Jewish Federation of, Attorney’s, Los Angeles CSI, Reseda . Security, Jewish Federations of North, Secure Community Network, Jewish Federations of, Nationwide, Orthodox Union, Jewish, Community Security Service, Defamation League, Los Angeles, ADL Los Angeles, Los Angeles federation’s Community Security, Angeles County Sheriff’s Department, “, FBI, Jewish Federation of Northern, Lilly Endowment Inc, AP Locations: Rosh, Yom Kippur, Jewish Federation of Greater Los Angeles, Los Angeles, Reseda, U.S, Reseda ., Pittsburgh, Jewish Federations of North America, Canada, Southern California, Angeles, California, Texas, New Jersey, Jewish Federation of Northern New Jersey

Sino-U.S. friction has worsened in recent years as Washington tries to restrict China's access to key technologies including cutting-edge chip technology, and Beijing looks to reduce its reliance on American tech. A customer talks to sales assistants in an Apple store as Apple Inc's new iPhone 14 models go on sale in Beijing, China, September 16, 2022. "This is textbook Chinese Communist Party behavior - promote PRC (People's Republic of China) national champions in telecommunications, and slowly squeeze Western companies' market access," Gallagher, a Republican, told Reuters. The drop in the technology sector weighed on the three main U.S. stock indexes, particularly the tech-heavy Nasdaq Composite, which closed down 0.9%. IPHONE SLOWDOWNChina has been a bright spot for Apple in an otherwise tough period for iPhone sales.

Persons: chipmaker SMIC, Jake Sullivan, Sullivan, Thomas Peter, Biden, Mike Gallagher, Gallagher, Mark Warner, Rick Meckler, Susannah Streeter, Hargreaves Lansdown, Streeter, Aditya Soni, Jaspreet Singh, Shristi Achar, Diane Bartz, David Gaffen, Shounak Dasgupta, Devika Organizations: Apple, Street, Washington, Huawei, HK, U.S . Commerce Department, National, Air Force, BofA Global Research, Qualcomm, REUTERS, Beijing, Communist Party, People's, Republican, Reuters, U.S, Senate Intelligence Committee, planemaker Boeing, Micron, Broadcom, Texas, Nasdaq, Cherry Lane Investments, Hargreaves, Thomson Locations: Beijing, US, China, U.S, Kirin, People's Republic of China, Bengaluru

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

CEO of Goldman Sachs David Solomon participates in a panel titled "Empowering Women as Entrepreneurs and Leaders" at the 2023 Spring Meetings of the World Bank Group and the International Monetary Fund in Washington, U.S., April 13, 2023. Goldman Sachs is shedding its consumer businesses after its foray into retail banking flopped. "I definitely do feel better about the capital markets," Solomon said in the wide-ranging interview. Solomon also said U.S. regulatory proposals for stricter bank capital rules have "gone too far." "I am focused on Goldman Sachs," he said.

Persons: Goldman Sachs David Solomon, Elizabeth Frantz, Goldman Sachs, David Solomon, that's, Solomon's, Solomon, SoftBank, Banks, Saeed Azhar, Lananh Nguyen, Jonathan Oatis, Jamie Freed, Deepa Babington Organizations: World Bank Group, International Monetary Fund, REUTERS, CNBC, T Arm Holdings, Federal Reserve, Thomson Locations: Washington , U.S, U.S

Now, U.S. Customs and Border Protection and the Interior Department should work together to ease the damage, the GAO said. A Customs and Border Protection spokesman said Wednesday that the agency is working on a response to the report. An Interior Department spokeswoman said the agency would have no comment. “The wall saved lives and disrupted the cartel’s ability to improve their operational control of our country’s borders.”Environmental groups said the GAO report confirmed their earlier complaints. They said future repair work could benefit from more involvement by the Interior Department, a lead manager of the federal land where much of the damage occurred.

Persons: Donald Trump, ”, Raul Grijalva, Grijalva, Trump, Mark Morgan, Morgan, Laiken, Michael Dax, Emily Burns, Joe Biden, Damage Organizations: PHOENIX, Government, Office, U.S . Customs, Border Protection, Interior Department, GAO, Customs, U.S, Arizona Democrat, Homeland Security, Forest Service, Border, Heritage Foundation, Center for Biological Diversity, Department of, Wildlands, Sky Islands Alliance, Department of Defense, Kumeyaay Locations: U.S, Mexico, cactuses, Arizona, Texas, Washington, Southwest, California , Arizona, New Mexico, Sonora, California, Rio Grande Valley, Arizona's Sonora, Quitobaquito, Rio Grande

☆ Blinken hails Kyiv's pushback against Russia in visit clouded by attack
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +5 min

"This Russian evil must be defeated as soon as possible," Zelenskiy said, describing it as a deliberate attack on a "peaceful city". U.S. officials have not publicly criticised Ukraine's military tactics, and last week said they had seen progress in the southeast. [1/6]Police officers and rescuers carry the body of a person killed by a Russian military strike in Kostiantynivka, Donetsk region, Ukraine, September 6, 2023. Blinken's visit coincided with Ukraine's parliament approving the appointment of Rust Umerov as defence minister following the dismissal of Oleksii Reznikov. During his train ride to Kyiv, Blinken held talks with Danish Prime Minister Mettle Fredericks, who was visiting the same day.

Persons: Blinken, Zelenskiy, Ivan Lyubysh, Antony Blinken, Volodymyr Zelenskiy, Dmytro Kuleba, Kuleba, Abrams, Larine Jean, Pierre said, Dmitry Peso, Diana Khodak, Khodak, Rust, Oleksii Reznikov, Mettle Fredericks, Fredericks, Humeyra Pamuk, Tom Balmforth, Ron Popeski, Philippa Fletcher, Timothy Heritage, Angus MacSwan, Peter Graff, Cynthia Osterman Organizations: Kirdey, U.S, Kyiv, Ukraine's Foreign, Ukrainian, White, Pentagon, Police, Press, Interior Ministry of, REUTERS Acquire, European Union, Reuters, Danish, State Department, Republican, Thomson Locations: Kyiv Ukraine, Kirdey KYIV, Ukraine, U.S, Kostiantynivka, Bakhmut, Russia, Russian, Donetsk region, Interior Ministry of Ukraine, Handout, Moscow, Washington, Ukrainian, Kyiv, Blinken's, Denmark, Netherlands

Litigation over the approval of the Willow project is pending. Many of those same voices pressed Biden to approve the Willow project for the same reason. “Once again, the Arctic Refuge is free of oil leases. Haaland later in 2021 ordered a new environmental review after concluding there were “multiple legal deficiencies” underlying the Trump-era leasing program. Major oil companies sat out the sale, held after prominent banks had announced they would not finance Arctic oil and gas projects.

Persons: Biden, Willow, “, Biden's, Deb Haaland, —, ”, Mary Peltola, Jamie Williams, Sen, Dan Sullivan, Haaland, Bernadette Demientieff, ___, Bernadette Demientieff's, Daly Organizations: Republicans, Wildlife Refuge, Trump, National Petroleum Reserve, The, ConocoPhillips, Democratic, Wildlife, U.S, Rep, Willow, Wednesday, Wilderness Society, Alaska Republican, Alaska Industrial Development, Export Authority Locations: JUNEAU, Alaska, ConocoPhillips Alaska, ANWR, America, Alaska Republican U.S, Washington ,

☆ Blinken visits Ukraine in show of support, says it needs 'strong deterrent'
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +5 min

[1/5] Ukraine's Foreign Minister Dmytro Kuleba greets US Secretary of State Antony Blinken before a meeting at the Ministry of Foreign Affairs in Kyiv, Ukraine on September 6, 2023. During his two-day visit, Blinken is likely to announce a new package of U.S. wartime assistance worth more than $1 billion, a senior State Department official told reporters on the trip. "We want to make sure that Ukraine has what it needs, not only to succeed in the counteroffensive, but has what it needs for the long term, to make sure that it has a strong deterrent," Blinken said standing alongside Kuleba. "We're also determined to continue to work with our partners as they build and rebuild a strong economy, strong democracy." During his train ride to Kyiv, Blinken also held talks with Danish Prime Minister Mette Frederiksen - coincidentally visiting the same day.

Persons: Dmytro Kuleba, Antony Blinken, Zelenskiy, Washington, Blinken, Volodymyr Zelenskiy, We're, Kuleba, Dmitry Peskov, Rustem Umerov, Oleksii Reznikov, Mette Frederiksen, Frederiksen, Matthew Miller, Joe Biden, Donald Trump, pare, Humeyra Pamuk, Tom Balmforth, Timothy Heritage, Angus MacSwan, Peter Graff Organizations: Ministry of Foreign Affairs, Russian, State Department, U.S, Kyiv, Media, Ukrainian, Blinken's, Danish, Department, Republican, Reuters, Washington, Thomson Locations: Kyiv, Ukraine, Kyiv Ukraine, U.S, Blinken, Russian, Moscow, Washington, Ukrainian, UKRAINE, Denmark, Netherlands

☆ China bans govt officials from using iPhone for work -WSJ
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +2 min

A man holds an iPhone 14 as Apple Inc's new models go on sale at an Apple store in Beijing, China, September 16, 2022. The orders were given by superiors to their staff in recent weeks and it wasn't clear how widely the orders were being distributed, the WSJ said. China has in recent years grown more concerned over data security and has rolled out new laws and compliance requirements for companies. The latest restriction by China mirrors similar bans taken in the United States against Chinese smartphone maker Huawei and short video platform TikTok, owned by China's ByteDance. China is one of Apple's biggest markets and generates nearly one-fifth of its revenue.

Persons: Thomas Peter, Gina Raimondo, China's ByteDance, Baranjot Kaur, Savio D'Souza, Miral Organizations: Apple, REUTERS, Wall Street, China's, Information Office, Washington, planemaker Boeing, Micron Technology, . Commerce, Huawei, Thomson Locations: Beijing, China, Sino, U.S, United States, Bengaluru

☆ Commerce Secretary Raimondo: U.S. businesses are 'desperate for some kind of dialogue' with China
▼ + stars: | 2023-09-05 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

In an interview with CNBC's Jim Cramer on Tuesday, U.S. Commerce Secretary Gina Raimondo stressed the importance of communication in fostering the country's economic relationship with China. Raimondo said U.S. businesses are "desperate" for dialogue. "I did, myself, personally, talk to over a hundred CEOs of U.S. businesses before going to China, and to say that they were desperate for some kind of a dialogue is not an exaggeration," Raimondo said. U.S. businesses need a "level playing field" in China, Raimondo said, as many fear raids or unpredictable government action toward their companies. The Commerce secretary also touched on artificial intelligence.

Persons: CNBC's Jim Cramer, Gina Raimondo, Raimondo, I'm, " Raimondo Organizations: . Commerce, U.S . Commerce Locations: China, Beijing, Shanghai, U.S

☆ Canadian pilots eye higher-paid U.S. cockpits amid staffing shortages
▼ + stars: | 2023-09-05 | by ( Allison Lampert | ) www.reuters.com time to read: +3 min

Some 147 Canadian pilots applied for licenses to fly commercial jets in the United States in 2022, up from 39 in 2021, according to Federal Aviation Administration (FAA) data. High travel demand in the United States, where pilots are securing historic wage increases, isattracting foreign aviators, despite delays and high costs of immigrating, according to lawyers, unions and pilots. While small, the increase in U.S. applications is worrisome for regional Canadian carriers, which like their U.S. counterparts, are wrestling with staffing shortages as they lose pilots to larger airlines, industry experts say. It could also put pressure on Air Canada (AC.TO) during negotiations with its pilots, whose contract expires on September 29. Air Canada pilots earned more before 2013.

Persons: F, Andrew Kelly, John Gradek, Mark Taylor, Taylor, Sunwing, Attorney Jean, Francois Harvey, he's, Gradek, John McKenna, Allison Lampert, Andy Sullivan Organizations: Kennedy International Airport, REUTERS, Rights, Federal Aviation Administration, FAA, Air Canada, McGill University, Sunwing Airlines, WestJet Airlines, Air, Air Line Pilots Association, United Airlines, Air Transport Association of Canada, Thomson Locations: Queens , New York City, U.S, United States, Canada, Calgary, Montreal, Canada's, Attorney, Air Canada

U.S. Secretary of Commerce Gina Raimondo attends a press conference at the Boeing Shanghai Aviation Services near the Shanghai Pudong International Airport, in Shanghai, China August 30, 2023. "China is making it more difficult," Raimondo told CBS's Face the Nation. "I was very clear with China that we need to - patience is wearing thin among American business. "They suggested that they didn't know about it and they suggested that it wasn't intentional," she told CNN. And certainly they're having real, real significant challenges in the real estate sector," she told Face the Nation.

Persons: Gina Raimondo, Aly, China, Raimondo, CBS's, " Raimondo, Diane Bartz, Phil Stewart, Mary Milliken, Deepa Babington Organizations: Boeing Shanghai Aviation Services, Shanghai Pudong International Airport, REUTERS, Garden Holdings, WASHINGTON, . Commerce, CNN, HK, Thomson Locations: Shanghai Pudong, Shanghai, China, Washington, Canada, Mexico, Beijing, Southeast Asia, U.S

"If we don't have a peaceful transfer of power in this country, we don't have anything," said U.S. District Judge Timothy Kelly. Dominic Pezzola, a member of the Proud Boys, did not play a leadership role but was convicted of felonies including obstructing an official proceeding and assaulting police. Pezzola's attorneys had asked for their client to be sentenced to around five years in prison. Steven Metcalf, one of Pezzola's attorneys, told the judge that Pezzola was caught in the "heat of the moment." More than 1,100 people have been arrested on charges related to the Capitol assault.

Persons: Shannon Stapleton, Trump, Donald Trump's, Ethan Nordean, Stewart Rhodes, Timothy Kelly, Nordean, Nick Smith, Dominic Pezzola, Prosecutors, Mark, Steven Metcalf, Pezzola, Joe Biden, Sarah N, Lynch, Makini Brice, Scott Malone, Grant McCool, Jonathan Oatis, Cynthia Osterman Organizations: Trump, U.S, Capitol, U.S . Congress, REUTERS, Rights, U.S . Capitol, Proud Boys, Capitol Police, Prosecutors, Republican, Democratic, Thomson Locations: Washington , U.S, Washington

☆ U.S. crude futures climb over $2 late in session
▼ + stars: | 2023-08-31 | by ( Erwin Seba | ) www.reuters.com time to read: +4 min

U.S. West Texas Intermediate crude futures for October settled at $83.63 a barrel, up $2, or 2.45%. Brent crude futures for October, expiring on Thursday, finished up $1, 1.16%, at $86.86 a barrel. "The crude market is reacting to OPEC production cuts being extended," said Andrew Lipow, president of Lipow Oil Associates. On Thursday, six-month U.S. crude oil futures traded as low as $3.83 below crude for front month delivery , the steepest discount since Nov. 17, signalling tight supplies and encouraging inventory draws. Analysts expect Saudi Arabia to extend a voluntary oil production cut of 1 million bpd into October, adding to cuts put in place by OPEC+.

Persons: Lucy Nicholson, Andrew Lipow, Brent, Ole Hansen, Eric Rosengren, Ahmad Ghaddar, Jeslyn Lerh, David Goodman, Nick Macfie, Paul Simao, Cynthia Osterman Organizations: REUTERS, bbl, Fed, Organization Petroleum Exporting, . West Texas, Brent, Lipow Oil Associates, U.S . Energy, Administration, OPEC, Saxo Bank, Commerce Department, Reserve, Boston Fed, National Bureau of Statistics, Thomson Locations: Bakersfield , California, Saudi Arabia, China, HOUSTON, U.S, Singapore

The U.S. Commerce Department, which normally administers new licensing requirements on exports, did not immediately return a request for comment. Last September AMD said it had received new license requirements that would halt exports of its MI250 artificial-intelligence chips to China. Nvidia, AMD and Intel (INTC.O) have since then all disclosed plans to create less powerful AI chips that can be exported to the Chinese market. Nvidia this week did not specify which countries in the Middle East were affected. About 13.9% of sales came from all other countries combined, and Nvidia does not provide a revenue breakout from the Middle East.

Persons: Dado Ruvic, Biden, Jasper Ward, Ismail Shakil, Stephen Nellis, Max Cherney, Abinaya, Chris Sanders, Nick Zieminski, Matthew Lewis, Lincoln Organizations: NVIDIA, REUTERS, Nvidia, Devices, AMD, U.S, U.S . Commerce Department, Intel, USG, ., Thomson Locations: U.S, China, United States, Taiwan, Japan, Netherlands, Washington, Ottawa, San Francisco, Bengaluru

☆ US restricts exports of some Nvidia chips to certain Middle East countries
▼ + stars: | 2023-08-30 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo/File Photo Acquire Licensing RightsAug 30 (Reuters) - The U.S. expanded the restriction of exports of sophisticated Nvidia (NVDA.O) artificial intelligence chips beyond China to other regions including some countries in the Middle East, the company said in a regulatory filing this week. A sweeping set of rules announced last October signaled a major escalation of the U.S. crackdown on China's technological capabilities, but it wasn't immediately clear what risks exports to the Middle East posed. Nvidia did not specify which countries in the Middle East were affected. About 13.9% of sales came from all other countries combined, and Nvidia does not provide a revenue breakout from the Middle East. One year ago, Nvidia said U.S. officials told it to stop exporting the same two computing chips for AI work to China.

Persons: Dado Ruvic, wasn't, Jasper Ward, Ismail Shakil, Stephen Nellis, Rami Ayyub, Eric Beech, Nick Zieminski Organizations: NVIDIA, REUTERS, Nvidia, U.S . Commerce, USG, ., Thomson Locations: U.S, China, United States, Taiwan, San Francisco

The Chinese military regularly sends ships and aircraft through the channel, Taiwan's defence ministry has said. The Chinese Embassy in Manila did not immediately respond to a request for comment on the proposed port in Basco. Cayco confirmed the visit, saying they came "one time to assess" the proposed alternative port. Marcos has said the bases under the Enhanced Defence Cooperation Agreement (EDCA) could prove useful if China attacked Taiwan. Jay Batongbacal, maritime affairs expert at the University of the Philippines, said the proposed port "would certainly be needed for the island’s defence in a worst case scenario."

Persons: Marvin Licudine, Andres Centino, Heather Variava, Noel Beleran, Eric Austin, Marilou Cayco, Batanes, Cayco, Kanishka, MARCOS, Rodrigo Duterte, Ferdinand Marcos Jr, Marcos, Jay Batongbacal, Poppy McPherson, Karen Lema, Raju Gopalakrishnan Organizations: Philippine Military, Embassy, Staff, Education, U.S, Reuters, China, Washington, U.S . Army, ., Enhanced, Security, University of the, Thomson Locations: Philippines, Philippine, U.S, MANILA, Taiwan . U.S, Taiwan, China, Washington, Pacific, Manila, Basco, Asia, Beijing, Batanes, South China, University of the Philippines, Luzon

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