Latest news with #Chines
Los Angeles Times
3 days ago
- Politics
- Los Angeles Times
Two foreign nationals charged with stalking a Los Angeles artist who criticized Xi Jinping
Two foreign nationals were charged with stalking a Los Angeles-based artist who has criticized Chines President Xi Jinping, federal officials said. Cui Guanghai, 43, of China, and John Miller, 63, of the U.K. and a U.S. lawful permanent resident, were charged with interstate stalking, conspiracy to commit interstate stalking, smuggling and violating the Arms Export Control Act, according to a release from the U.S. Attorney's Office Central District of California. 'The defendants allegedly plotted to harass and interfere with an individual who criticized the actions of the People's Republic of China while exercising their constitutionally protected free speech rights within the United States of America,' said FBI Deputy Director Dan Bongino in the release. 'The same individuals also are charged with trying to obtain and export sensitive U.S. military technology to China.' If convicted, Cui and Miller face up to five years in prison for conspiracy, five years for interstate stalking, 20 for violating the Arms Export Control Act and 10 years for smuggling. According to court documents, Cui and Miller allegedly employed two people, who they didn't know were acting on the direction of the FBI, to carry out a plot to stop someone from protesting Xi's appearance at the the Asia Pacific Economic Cooperation summit. The victim, who wasn't named in the release, had previously publicly criticized Xi and China's government. Cui and Miller had the alleged victim surveiled, had a tracking device installed on their car, slashed the tires on the car and bought and destroyed statues created by the victim showing Xi and Xi's wife, according to the release. In the spring of 2025, the victim announced that he planned to publicize an online feed showing the two statues; Cui and Miller allegedly paid two other people $36,500 to convince the victim not to display the statues, officials wrote. Those two people were also working with the FBI. Starting in November 2023, Miller and Cui allegedly procured U.S. defense articles, including air defense radar, drones, missiles and cryptographic devices in order to unlawfully export them from the U.S. to China. They talked with two other people how to export the device, including hiding it in a blender, motor starter, small electronics or shipping it to Hong Kong. Cui and Miller allegedly paid about $10,000 as a deposit for the cryptographic device through a courier in the U.S. and wire transfer to a U.S. bank account, officials said.
Time of India
28-05-2025
- Business
- Time of India
Nvidia to have final say on strong earnings season for Big Tech
Nvidia Corp. faces the final test of an earnings season-driven rally that has sent its shares up more than 40% from an April low. The world's most valuable chipmaker reports Wednesday after market close — the last of the Big Tech cohort to do so. Results from Microsoft Corp., Meta Platforms Inc. and others showed that outlooks remain mostly intact despite uncertainty caused by President Donald Trump's shifting tariff plans. The reports, along with cooling trade tensions, have helped fuel a rebound in technology stocks that were at the heart of last month's S&P 500 rout. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Unbelievable: Calculator Shows The Value Of Your House Instantly (Take a Look) Home Value Calculator Learn More Undo 'Tech results have generally been positive, and in some cases, exceptional,' said Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder. 'I think continued strength in Nvidia will support the overall tech trend.' Bloomberg Live Events Nvidia shares have soared as its biggest customers pledge to keep spending heavily on equipment for artificial intelligence computing and as new buyers emerge from governments in the Middle East. The stock remains down 9% from its January peak. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories The focus in the firm's first-quarter earnings report will be the supply of computer systems based on its new Blackwell chips, which faced manufacturing hiccups that hampered sales in the fourth quarter amid heavy demand. The Santa Clara, California-based company is projected to deliver around $19 billion in net income on revenue of $43 billion in the first quarter, up 31% and 66%, respectively, from the same period a year ago. Another thing investors will be watching closely is profit margins. In February, Nvidia said higher costs associated with the ramp up of Blackwell production would weigh on gross margins in the first quarter. Gross margins should return to the 'mid-70s' by the end of the year from a projection of roughly 71% in the first quarter, Chief Financial Officer Colette Kress said at the time. 'We did see a slowdown in margins last quarter and if we see them shrink again, that could bring the stock down,' said Andrew Rocco, a stock strategist at Zacks Investment Research. 'I don't think we'll see a huge surprise with this report one way or the other but there is a risk with the outlook.' The earnings report has the potential to be complicated owing to US export restrictions of advanced semiconductors to China aimed at slowing the country's technological progress. Last month, Nvidia wrote off about $5.5 billion in inventory of chips designed explicitly to comply with previous US curbs. Chief Executive Officer Jensen Huang has criticised the US policies, which he said will cede a market that could be worth $50 billion in 2026 to Chinese rivals. Wall Street estimates appear to vary widely on the impact of the restrictions, creating the potential for a 'messy' quarter, Morgan Stanley analysts led by Joseph Moore wrote in a research note published Tuesday. Nvidia and other technology giants were among the biggest decliners in last month's rout that sent the S&P 500 to the brink of a bear market. Many of the stocks have recouped much of the losses after Trump temporarily paused the stiffest levies and earnings showed demand remains intact. The Nasdaq 100 Index is outperforming the S&P 500 since the reporting cycle kicked off in mid-April. This earnings season has shown that the biggest buyers of AI computing gear plan to keep plowing money into capital spending, a boon for Nvidia and other makers of computing hardware. Microsoft and Alphabet pledged to spend even more next year, while Meta raised its forecast for capital expenditures in 2025. 'It is remarkable how much we've almost come full circle in a few weeks,' said Rob Almeida, global investment strategist at MFS Investment Management. 'The fact that hyperscalers still think they can't afford to not invest is a pretty strong signal for their intentions over the next four quarters.' Despite the rebound in Nvidia shares, the stock's valuation relative to anticipated earnings remains at a discount. Nvidia is priced at 29 times profits projected over the next 12 months, compared with a five-year average of 40, according to data compiled by Bloomberg. The Nasdaq 100 trades around 26 times projected profits. Bloomberg For Krishna Chintalapalli, a portfolio manager at Parnassus Investments, the attraction to Nvidia as the biggest beneficiary of AI spending remains strong. 'I haven't seen anything in the past three months that would suggest the story has dramatically changed,' Chintalapalli said. 'While China is a factor, the Middle East deals suggest broad-based demand for Nvidia chips beyond the US and China.'
India.com
22-05-2025
- Automotive
- India.com
After teaching Pakistan a tough lesson, Modi government now plans Major action against China, plans to...
PM Modi and Xi Jinping- File image India's new step against China: After India took actions against Pakistan for sponsoring terrorism and banned all the trade that was going on through the third-party route after the Pehalgam terror attack, reports have it that the next target of the Indian government are expected to be the Chinese goods that are dumped into India. In the recent set of events, it has been reported that many poor quality electronic devices coming from will be put under check. Here are all the details you need to know about the India's recent step against China after the India-Pakistan tensions. In the recent action against China, the government of India is expected to act against poor quality Chinese that are exported to India. Under the recent reported action, the Chines electronics items will be mandated to have BIS (Bureau of Indian Standards) mark on certain types of devices. The Chinese items which will be include in the list and have to face the wrath of the ban include electric recliners, furniture, whirlpool baths, spas, electric toilets, clothes dryers, towel warmers and electric beauty products. As per a report carried by ET, the reasons behind the crackdown on Chinese could be the recent India-Pakistan tensions and the help that Chinese government gave to Pakistan. Also, the government from wants to increase the production of these 'banned items' in the country itself. India goes above China in largest market for electric 3-wheelers In another significant development in the electronics market, India has been ranked the world's largest market for electric three-wheelers, beating China, for the second straight year with a 20 per cent surge in sales to 7 lakh vehicles in 2024, according to a report by the International Energy Agency (IEA). As per a report carried by news agency IANS, the IEA's Global EV Outlook 2025 report points out that the three-wheeler market is highly concentrated, with China and India accounting for more than 90 per cent of electric and conventional 3W sales. (With inputs from agencies)
Yahoo
22-05-2025
- Business
- Yahoo
Exclusive-US-China trade truce may ease Komatsu's tariff pain by $140 million, CEO says
By Kantaro Komiya and Miho Uranaka TOKYO (Reuters) -Komatsu should see a nearly 20 billion yen ($140 million) mitigation in the impact of U.S. tariffs on its bottom line after the U.S.-China trade truce last week, the Japanese company's CEO said, suggesting its outlook for lower profits may not be as bad as feared. With more than one-quarter of Komatsu's sales coming from North America, the reduction in the tariff impact - a roughly 20% easing in its forecast of a 94.3 billion yen hit from the tariffs - would have an outsized effect on its profit outlook. In an interview with Reuters on Wednesday, Takuya Imayoshi, the head of the world's second-largest construction and mining machinery maker, did not say it is officially revising its forecast last month of a 27% drop in current-year profit as a result of U.S. President Donald Trump's tariffs. But the 90-day pause of extra U.S. tariffs on Chinese imports may mitigate the impact on Komatsu, which buys Chinese steel for its American-made machines, he said. "Countries' retaliatory tariffs haven't been like what we previously feared, so the negative impact on our performance appears limited," he said. The company forecast operating profit would be 478 billion yen for the business year to March 2026 because of the tariffs and a stronger yen, a far more conservative outlook than the consensus of analysts' estimates compiled by LSEG for operating profit of 597.5 billion yen, down only 9% from the previous year. Still, Imayoshi remained cautious on Komatsu's outlook, saying "if tariff rates are adjusted with countries, the impact will likely settle within the previously made estimate." Despite the easing of Chinese tariffs, about half of Komatsu products sold in the U.S. are manufactured overseas and imported, such as construction machines from Japan, Brazil and Thailand, which remain subject to higher levies. SUPPLY SHIFTS Komatsu would consider shifts such as bypassing U.S. warehouses when exporting spare parts to Canada or Latin America, and rebasing the production of U.S.-bound items from China to Thailand in case the higher U.S. tariff rates on China at the end of the 90-day truce, Imayoshi said. But "it's never the case" that the tariffs can make manufacturing in the U.S. cost-competitive and drive Komatsu to ramp up U.S. production, he said, citing U.S. steel prices that are more than double those of China. Overall, tariffs will have little impact on its competition with Caterpillar, the world's biggest heavy equipment maker, and other rivals because they have similar global supply-chain structures, he said. However, Komatsu will watch how other companies pass on tariff costs, he added. Caterpillar last month estimated additional tariff-related costs at between $250 million and $350 million in the April-June quarter. Caterpillar shares are down 4.8% year-to-date, while Komatsu is up 1.5%. CHINESE RIVALS Imayoshi, who led Komatsu's China office for three years from 2021, said competition with Chinese construction machinery makers is becoming as demanding as with Caterpillar. Komatsu "still leads in durability and reliability, but they have largely caught up in offering decent performance at lower initial costs - in electrification, they are actually ahead," Imayoshi said. Electrification and solutions for software-defined and autonomous vehicles require technologies from outside Komatsu, he said, suggesting these fields are a consideration for an acquisition after its 2023 purchase of Detroit-based battery startup ABS. The company has not made major purchases since buying U.S. mining equipment manufacturer Joy Global for $2.9 billion in 2017. In a mid-term business plan announced last month, Komatsu added a free cash flow target of 1 trillion yen in the next three years. "We plan to spend it while maintaining balance between investments and shareholder returns, and it can also be directed toward acquisitions if opportunities arise," Imayoshi said. "Financial structure-wise, we have considerable leeway." ($1 = 143.3000 yen) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
22-05-2025
- Business
- Yahoo
Exclusive-US-China trade truce may ease Komatsu's tariff pain by $140 million, CEO says
By Kantaro Komiya and Miho Uranaka TOKYO (Reuters) -Komatsu should see a nearly 20 billion yen ($140 million) mitigation in the impact of U.S. tariffs on its bottom line after the U.S.-China trade truce last week, the Japanese company's CEO said, suggesting its outlook for lower profits may not be as bad as feared. With more than one-quarter of Komatsu's sales coming from North America, the reduction in the tariff impact - a roughly 20% easing in its forecast of a 94.3 billion yen hit from the tariffs - would have an outsized effect on its profit outlook. In an interview with Reuters on Wednesday, Takuya Imayoshi, the head of the world's second-largest construction and mining machinery maker, did not say it is officially revising its forecast last month of a 27% drop in current-year profit as a result of U.S. President Donald Trump's tariffs. But the 90-day pause of extra U.S. tariffs on Chinese imports may mitigate the impact on Komatsu, which buys Chinese steel for its American-made machines, he said. "Countries' retaliatory tariffs haven't been like what we previously feared, so the negative impact on our performance appears limited," he said. The company forecast operating profit would be 478 billion yen for the business year to March 2026 because of the tariffs and a stronger yen, a far more conservative outlook than the consensus of analysts' estimates compiled by LSEG for operating profit of 597.5 billion yen, down only 9% from the previous year. Still, Imayoshi remained cautious on Komatsu's outlook, saying "if tariff rates are adjusted with countries, the impact will likely settle within the previously made estimate." Despite the easing of Chinese tariffs, about half of Komatsu products sold in the U.S. are manufactured overseas and imported, such as construction machines from Japan, Brazil and Thailand, which remain subject to higher levies. SUPPLY SHIFTS Komatsu would consider shifts such as bypassing U.S. warehouses when exporting spare parts to Canada or Latin America, and rebasing the production of U.S.-bound items from China to Thailand in case the higher U.S. tariff rates on China at the end of the 90-day truce, Imayoshi said. But "it's never the case" that the tariffs can make manufacturing in the U.S. cost-competitive and drive Komatsu to ramp up U.S. production, he said, citing U.S. steel prices that are more than double those of China. Overall, tariffs will have little impact on its competition with Caterpillar, the world's biggest heavy equipment maker, and other rivals because they have similar global supply-chain structures, he said. However, Komatsu will watch how other companies pass on tariff costs, he added. Caterpillar last month estimated additional tariff-related costs at between $250 million and $350 million in the April-June quarter. Caterpillar shares are down 4.8% year-to-date, while Komatsu is up 1.5%. CHINESE RIVALS Imayoshi, who led Komatsu's China office for three years from 2021, said competition with Chinese construction machinery makers is becoming as demanding as with Caterpillar. Komatsu "still leads in durability and reliability, but they have largely caught up in offering decent performance at lower initial costs - in electrification, they are actually ahead," Imayoshi said. Electrification and solutions for software-defined and autonomous vehicles require technologies from outside Komatsu, he said, suggesting these fields are a consideration for an acquisition after its 2023 purchase of Detroit-based battery startup ABS. The company has not made major purchases since buying U.S. mining equipment manufacturer Joy Global for $2.9 billion in 2017. In a mid-term business plan announced last month, Komatsu added a free cash flow target of 1 trillion yen in the next three years. "We plan to spend it while maintaining balance between investments and shareholder returns, and it can also be directed toward acquisitions if opportunities arise," Imayoshi said. "Financial structure-wise, we have considerable leeway." ($1 = 143.3000 yen) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
