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☆ Apple freezes plans to use China's YMTC chips - Nikkei
▼ + stars: | 2022-10-17 | by ( ) www.reuters.com time to read: +1 min

Oct 17 (Reuters) - U.S. tech giant Apple Inc (AAPL.O) has put on hold plans to use memory chips from China's Yangtze Memory Technologies Co (YMTC) in its products, after Washington imposed tighter export controls against Chinese technology companies, the Nikkei reported on Monday. Apple had originally planned to start using state-funded YMTC's NAND flash memory chips as early as this year, Nikkei said, citing people familiar with the matter. The chips were initially planned to be used only for iPhones sold in the Chinese market. It was considering eventually purchasing up to 40% of the chips needed for all iPhones from YMTC, the newspaper said. Apple did not immediately respond to Reuters' request for comment, while YMTC declined to comment.

☆ Xi's call to win tech race points to new wave of Chinese state-led spending
▼ + stars: | 2022-10-17 | by ( Josh Horwitz | ) www.reuters.com time to read: +4 min

The term "technology" was referred to 40 times, up from 17 times in the report from the 2017 congress. Iris Pang, chief economist for Greater China at ING, said Xi's remarks addressed "the urgent need for talent and promoting self-sufficiency in technological advancement". "As such research spending on semiconductor technology should increase. On Monday, shares in Chinese information technology companies (.CSIINT) rose more than 1%, while semiconductor stocks (.CSIH30184) rose 0.7%. Venture capital (VC) has been allowed to invest in Chinese chip companies, with such firms receiving over $30 billion in VC cash between 2020-2021, according to Chinese investment research firm CVInfo.

☆ Putin says Russia not working 'against anyone' in energy markets
▼ + stars: | 2022-10-11 | by ( ) www.reuters.com time to read: +1 min

Oct 11 (Reuters) - President Vladimir Putin said on Tuesday that Russia was not working against anyone on energy markets, a week after Washington criticised a decision by OPEC+ to steeply cut oil production. Speaking with the United Arab Emirates' President Sheikh Mohammed bin Zayed al-Nahyan, Putin said Russia aimed to create stability on energy markets and ensure that supply and consumption were balanced. Register now for FREE unlimited access to Reuters.com Register"Our actions are aimed at creating stability in the global energy markets, so that both consumers of energy resources and those involved in production, suppliers to the global markets feel calm, stable and confident. U.S. President Joe Biden has called on his administration and Congress to explore ways to boost U.S. energy production and reduce OPEC's control over energy prices after the cartel's "shortsighted" production cuts. The Kremlin on Sunday praised OPEC+ for agreeing production cuts that it said had successfully countered the "mayhem" sown by the United States in global energy markets.

☆ Turkey's state banks suspend use of Russian Mir payment system -finance minister
▼ + stars: | 2022-09-29 | by ( Can Sezer | ) www.reuters.com time to read: +2 min

ISTANBUL, Sept 29 (Reuters) - Turkey's three state banks have suspended the use of the Russian Mir payment system, Finance Minister Nureddin Nebati told Reuters on Thursday. Two private banks, Isbank and Denizbank, suspended their use of the Mir system last week after Washington expanded its sanctions on Russia, including targeting the entity that runs the payment system. The two other state banks, Halkbank and Vakifbank, have not commented on the issue. NATO member Ankara opposes Western sanctions on Russia and has close ties with both Moscow and Kyiv, its Black Sea neighbours. The Kremlin on Wednesday said Turkish state banks that have stopped using Russia's Mir bank cards are clearly under unprecedented U.S. pressure and the threat of secondary sanctions.

☆ Turkey's Erdogan to hold meeting on Russian Mir payments, possible sanctions -sources
▼ + stars: | 2022-09-22 | by ( Orhan Coskun | ) www.reuters.com time to read: +2 min

Turkey's President Tayyip Erdogan addresses the 77th Session of the United Nations General Assembly at U.N. Headquarters in New York City, U.S., September 20, 2022. REUTERS/Amr Alfiky/FIle PhotoANKARA, Sept 22 (Reuters) - Turkish President Tayyip Erdogan will convene a top tier economy-focused meeting on Friday at which Russian payment system Mir and possible Western sanctions will be discussed, two sources with information on the matter told Reuters. Earlier on Thursday, the head of Russia's National Card Payments System said Mir bank cards continued to work in Turkey, despite the two banks suspending them. read moreRussia's central bank vowed last week to push ahead with expanding the number of countries that accept its Mir cards. The U.S. sanctions target people and entities accused of helping Moscow skirt financial sanctions.

☆ Man in custody after Washington Monument vandalized with red paint
▼ + stars: | 2022-09-21 | by ( Chantal Da Silva | Chantal Da Silva Is A Breaking News Editor For Nbc News Digital Based In London. | ) www.nbcnews.com time to read: +1 min

A man was taken into custody after the Washington Monument was vandalized with red paint late Tuesday, police said. The area around base of the Washington Monument was temporarily closed following the incident, as National Park Service conservators looked to restore the statue. The U.S. Park Police guard the Washington Monument after a vandal wrote graffiti and threw red paint against the base of the structure on Sept. 21, 2022. Nathan Howard / Getty ImagesThe base of the monument could be seen smeared with a splash of red paint, accompanied by the words: "Have you been f----- by this ... Gov says tough s---." It also saw restoration works from 2016-2019 to modernize its elevator.

☆ U.S. expects more banks will cut off Russian payment system Mir -senior official
▼ + stars: | 2022-09-20 | by ( ) www.reuters.com time to read: +2 min

People walk past the logo of Russian payment system Mir at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 15, 2022. REUTERS/Maxim Shemetov/File PhotoWASHINGTON, Sept 20 (Reuters) - Steps that Turkish lenders Isbank and Denizbank took to suspend the use of Russian payment system Mir make a lot of sense, a senior U.S. administration official said on Tuesday, and said the United States expects more banks will cut off Mir over sanctions risk. "We expect more banks to cut off Mir because they don’t want to risk being on the wrong side of the coalition’s sanctions." Washington and its allies have imposed several rafts of sanctions targeting Moscow following Russia's Feb. 24 invasion of Ukraine, including targeting Russian banks and President Vladimir Putin. NATO member Turkey opposes Western sanctions on Russia on principle and has close ties with both Moscow and Kyiv, its Black Sea neighbors.

REUTERS/Murad SezerISTANBUL, Sept 19 (Reuters) - Turkish lenders Isbank and Denizbank have suspended use of Russian payment system Mir, the banks said on Monday, following a U.S. crackdown on those accused of helping Moscow skirt sanctions over the war in Ukraine. The suspensions by two of the five Turkish banks that had been using Mir reflect their effort to avoid the financial cross-fire between the West and Russia, as the Turkish government takes a balanced diplomatic stance. In April, he said Russian tourists - critical to Turkey's beleaguered economy - could easily make payments since the Mir system was growing among Turkey's banks. One banker said worries that so-called secondary sanctions could target Turkish banks or firms affected markets. The expanded U.S. sanctions last week targeted the chief executive of the Bank of Russia's National Card Payment System (NSPK), which runs Mir.

☆ California is suing Amazon, accusing it of inflating prices and crushing competition
▼ + stars: | 2022-09-15 | by ( Isobel Asher Hamilton | ) www.businessinsider.com time to read: +3 min

California is suing Amazon accusing it of anticompetitive conduct. The lawsuit says Amazon coerces third-party sellers into agreeing not to sell their products cheaper anywhere else. The suit seeks to stop Amazon from enforcing contracts that restrict the prices sellers can set for their products off Amazon. In response to the lawsuit an Amazon spokesperson told Insider: "Sellers set their own prices for the products they offer in our store." This isn't the first time Amazon has been accused of anticompetitive conduct in relation to third-party sellers.

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