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Bloomberg
13 hours ago
- Business
- Bloomberg
Huawei's Pura X Is An Intriguing New Foldable — If You're Outside the US
In most of the world, the smartphone market is dominated by two players: Alphabet Inc. 's Android and Apple Inc. 's iOS. But China's Huawei Technologies Co. is looking to challenge that long-held reality with its in-house mobile platform, HarmonyOS. Since launching late last year, the software has already become the most credible contender to that duopoly in China. The company has even unveiled a companion laptop-grade operating system to replace Windows. Huawei's new phone embodies Beijing's efforts to reduce its reliance on the US tech industry. But its efforts to establish independence in the software realm won't mean much without cutting-edge devices that can serve as vehicles to showcase its new platform. The recently launched Pura X foldable isn't just a hardware novelty; it's also the company's first flagship smartphone to run HarmonyOS out of the box, making it an early test of how willing users will be to jump ship for a largely untested — and still incomplete — ecosystem.
Yahoo
4 days ago
- Business
- Yahoo
S&P 500 falls amid new US-China tech sanctions
-- Major averages, including the S&P 500, faced a downturn on Friday, falling 1% in response to reports of the US planning to expand technology sanctions against China. The proposed measures aim to target subsidiaries of Chinese companies currently under US restrictions, signaling an escalation in the ongoing tensions between the two economic powerhouses. The sell-off in the markets was primarily driven by news from Bloomberg indicating that the Trump administration is considering new regulations that would require US government licensing for transactions with entities that are majority-owned by firms already on the US sanctions list. This move is intended to close loopholes that have allowed Chinese companies to circumvent existing sanctions by establishing new subsidiaries. The potential for increased regulatory scrutiny and sanctions has raised concerns about the impact on global tech and semiconductor industries, which are deeply interconnected with Chinese firms. Some of China's largest tech entities, such as Huawei Technologies Co. and Yangtze Memory Technologies Co., are already facing restrictions under the US Entity List, and the new policy would further tighten these controls. While the White House and Commerce Department have not yet commented on the matter, the proposed subsidiary rule could be announced as early as June. The rule would apply a 50% ownership threshold in relation to companies on the Entity List, Military End-User list, and Specially Designated Nationals list. However, details and timing are subject to change as the policy and related sanctions are not finalized. The market's negative reaction reflects investor apprehension about the broader implications of heightened US-China tech tensions. The ongoing dispute has previously resulted in supply chain disruptions and has the potential to affect a wide range of industries reliant on technology and semiconductors. Related articles S&P 500 falls amid new US-China tech sanctions Saudi Arabia reportedly planning massive Airbus order Citi adds Knight-Swift to catalyst watch
Yahoo
5 days ago
- Business
- Yahoo
Trump Takes Aim at Chinese Students and Tech, Threatening to Upset Truce With Xi
(Bloomberg) -- Just weeks after US President Donald Trump declared a 'total reset' with China following a trade truce in Geneva, tensions are rising again between the world's biggest economies. NYC Congestion Toll Brings In $216 Million in First Four Months Now With Colorful Blocks, Tirana's Pyramid Represents a Changing Albania The Economic Benefits of Paying Workers to Move NY Wins Order Against US Funding Freeze in Congestion Fight NY Congestion Pricing Is Likely to Stay Until Year End During Court Case Trump's administration on Wednesday announced it would start revoking Chinese student visas, while also introducing new restrictions on the sales of chip design software and reportedly some jet engine parts to China. That came shortly after it sought to block Huawei Technologies Co. from selling advanced AI chips anywhere in the world, prompting an angry rebuke from Beijing. 'Geneva was positive because both sides are officially talking to each other,' said Alfredo Montufar-Helu, senior adviser to the China Center at the Conference Board. 'But the negotiations didn't really deal with the core issues that are driving competition between the two sides. Chief of them all — technological dominance.' While US and Chinese negotiators brought down tariffs from eye-watering levels for 90-days, they still need to hammer out a deal to rebalance trade — that took years in Trump's first term. Both sides are also in disagreement over Beijing's role in the illegal fentanyl trade, as well as rare earths and chip controls. In a sign any larger deal is a way off, Trump has yet to speak with his Chinese counterpart since returning to office, despite suggesting several times such a call was imminent. Treasury Secretary Scott Bessent said negotiations with China had stalled but he believed more would be held in the next few weeks. He added that a call between Trump and Chinese leader Xi Jinping will happen at some point. The crackdown on Chinese students — the second largest international group in the US — was unveiled by Secretary of State Marco Rubio, who before taking office was twice sanctioned by Beijing. That dispelled any notion China hawks within the Trump administration are losing influence, after trade officials in Switzerland showed a preference for dealmaking with Beijing. China's Foreign Ministry called the visa policy 'discriminatory' at a regular briefing in Beijing on Thursday, with spokeswomen Mao Ning saying it would 'only further undermine' America's global reputation. That relatively restrained response, along with the fact officials didn't signal any retaliation, suggests Beijing is trying to avoid sending ties into another tailspin. Still, the decision to put Chinese students under fresh scrutiny highlights the deep suspicion underpinning bilateral ties, with Republicans and Democrats alike now viewing China as a major threat to American security. For its part, Beijing has launched an anti-spying campaign that casts a wide net of suspicion on foreigners, particularly from the US. John Moolenaar, chairman of the House Select Committee on the Chinese Communist Party, denied the US actions were designed to target ordinary people in the Asian country. 'It's the aggression of the Chinese Communist Party that we're pushing back on,' he told Bloomberg Television. Moolenaar represents US lawmakers who are skeptical of China's influence in the US, including on campuses across the country. He accused Beijing of making Chinese students do its bidding and earlier this month co-signed a letter to Harvard University demanding information on its China links. 'The end goal is to have a relationship with China that acknowledges the reality that their government is moving in a very different direction than they promised,' he added. Moolenaar got what he wanted when Trump moved to block Harvard from enrolling international students over claims the school's leadership had co-ordinated with the Communist Party. US lawmakers allege the university trained members of a company sanctioned for alleged human-rights abuses. 'This will only stoke misunderstanding, mistrust and even hatred between two societies,' said Wu Xinbo, director at Fudan University's Center for American Studies in Shanghai. 'I'm afraid the Trump administration will come up with more crazy ideas and actions hurting China-US relations.' Trump's approach contrasts sharply with Xi, who has touted people-to-people exchanges as the foundation of healthy US ties. The Chinese leader in 2023 pledged to bring 50,000 young Americans to China over five years to stabilize relations. Some 16,000 American youths participated last year, according to Jing Quan, a minister at the Chinese embassy in the US. While it's unclear how the latest policy will be enforced, expelling Chinese students from the US threatens to reignite a flashpoint in ties from Trump's first term. Back then, the US revoked over 1,000 visas of Chinese pupils and scholars, alleging they were stealing US technology and intellectual property for China's military. In China, the hardening US stance was met with disbelief and resentment on social media. 'I can't believe Trump has shown us in our life time how quickly the US empire is declining,' one user wrote on China's X-like Weibo platform. Creating a hostile environment for overseas students could push talent back toward China. That aligns with Beijing's ambition to bolster domestic innovation, as Xi turns high-tech manufacturing into a key growth driver for the economy. Chinese students have made critical contributions to America's technological success and scientific leadership, said Jessica Chen Weiss, the David M. Lampton professor of China studies at Johns Hopkins University's School of Advanced International Studies in Washington. During the McCarthy era of intense US suspicion, leading rocket scientist Qian Xuesen was prevented from continuing his scientific career in the country, despite having co-founded NASA's jet propulsion laboratory at Caltech. That was to Beijing's benefit, Chen Weiss said: 'He returned to China, where he helped develop China's ballistic missile program.' --With assistance from Haslinda Amin, Qianwei Zhang, Allen Wan, Minmin Low and Lucille Liu. (Updates with Scott Bessent's remarks.) YouTube Is Swallowing TV Whole, and It's Coming for the Sitcom Mark Zuckerberg Loves MAGA Now. Will MAGA Ever Love Him Back? Millions of Americans Are Obsessed With This Japanese Barbecue Sauce Inside the First Stargate AI Data Center How Coach Handbags Became a Gen Z Status Symbol ©2025 Bloomberg L.P. 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
5 days ago
- Business
- Yahoo
Trump-Xi Truce Under Fire as US Targets Chinese Students, Tech
(Bloomberg) -- Just weeks after US President Donald Trump declared a 'total reset' with China following a trade truce in Geneva, tensions are rising again between the world's biggest economies. NYC Congestion Toll Brings In $216 Million in First Four Months NY Wins Order Against US Funding Freeze in Congestion Fight Now With Colorful Blocks, Tirana's Pyramid Represents a Changing Albania NY Congestion Pricing Is Likely to Stay Until Year End During Court Case Trump's administration on Wednesday announced it would start revoking Chinese student visas, while also introducing new restrictions on the sales of chip design software and reportedly some jet engine parts to China. That came shortly after it sought to block Huawei Technologies Co. from selling advanced AI chips anywhere in the world, prompting an angry rebuke from Beijing. 'Geneva was positive because both sides are officially talking to each other,' said Alfredo Montufar-Helu, senior adviser to the China Center at the Conference Board. 'But the negotiations didn't really deal with the core issues that are driving competition between the two sides. Chief of them all — technological dominance.' While US and Chinese negotiators brought down tariffs from eye-watering levels for 90-days, they still need to hammer out a deal to rebalance trade — that took years in Trump's first term. Both sides are also in disagreement over Beijing's role in the illegal fentanyl trade, as well as rare earths and chip controls. In a sign any larger deal is a way off, Trump has yet to speak with his Chinese counterpart since returning to office, despite suggesting several times such a call was imminent. The crackdown on Chinese students — the second largest international group in the US — was unveiled by Secretary of State Marco Rubio, who before taking office was twice sanctioned by Beijing. That dispelled any notion China hawks within the Trump administration are losing influence, after trade officials in Switzerland showed a preference for dealmaking with Beijing. China's Foreign Ministry called the visa policy 'discriminatory' at a regular briefing in Beijing on Thursday, with spokeswomen Mao Ning saying it would 'only further undermine' America's global reputation. That relatively restrained response, along with the fact officials didn't signal any retaliation, suggests Beijing is trying to avoid sending ties into another tailspin. Still, the decision to put Chinese students under fresh scrutiny highlights the deep suspicion underpinning bilateral ties, with Republicans and Democrats alike now viewing China as a major threat to American security. For its part, Beijing has launched an anti-spying campaign that casts a wide net of suspicion on foreigners, particularly from the US. John Moolenaar, chairman of the House Select Committee on the Chinese Communist Party, denied the US actions were designed to target ordinary people in the Asian country. 'It's the aggression of the Chinese Communist Party that we're pushing back on,' he told Bloomberg Television. Moolenaar represents US lawmakers who are skeptical of China's influence in the US, including on campuses across the country. He accused Beijing of making Chinese students do its bidding and earlier this month co-signed a letter to Harvard University demanding information on its China links. 'The end goal is to have a relationship with China that acknowledges the reality that their government is moving in a very different direction than they promised,' he added. Moolenaar got what he wanted when Trump moved to block Harvard from enrolling international students over claims the school's leadership had co-ordinated with the Communist Party. US lawmakers allege the university trained members of a company sanctioned for alleged human-rights abuses. 'This will only stoke misunderstanding, mistrust and even hatred between two societies,' said Wu Xinbo, director at Fudan University's Center for American Studies in Shanghai. 'I'm afraid the Trump administration will come up with more crazy ideas and actions hurting China-US relations.' Trump's approach contrasts sharply with Xi, who has touted people-to-people exchanges as the foundation of healthy US ties. The Chinese leader in 2023 pledged to bring 50,000 young Americans to China over five years to stabilize relations. Some 16,000 American youths participated last year, according to Jing Quan, a minister at the Chinese embassy in the US. While it's unclear how the latest policy will be enforced, expelling Chinese students from the US threatens to reignite a flashpoint in ties from Trump's first term. Back then, the US revoked over 1,000 visas of Chinese pupils and scholars, alleging they were stealing US technology and intellectual property for China's military. In China, the hardening US stance was met with disbelief and resentment on social media. 'I can't believe Trump has shown us in our life time how quickly the US empire is declining,' one user wrote on China's X-like Weibo platform. Creating a hostile environment for overseas students could push talent back toward China. That aligns with Beijing's ambition to bolster domestic innovation, as Xi turns high-tech manufacturing into a key growth driver for the economy. Chinese students have made critical contributions to America's technological success and scientific leadership, said Jessica Chen Weiss, the David M. Lampton professor of China studies at Johns Hopkins University's School of Advanced International Studies in Washington. During the McCarthy era of intense US suspicion, leading rocket scientist Qian Xuesen was prevented from continuing his scientific career in the country, despite having co-founded NASA's jet propulsion laboratory at Caltech. That was to Beijing's benefit, Chen Weiss said: 'He returned to China, where he helped develop China's ballistic missile program.' --With assistance from Haslinda Amin, Qianwei Zhang, Allen Wan, Minmin Low and Lucille Liu. Mark Zuckerberg Loves MAGA Now. Will MAGA Ever Love Him Back? YouTube Is Swallowing TV Whole, and It's Coming for the Sitcom Millions of Americans Are Obsessed With This Japanese Barbecue Sauce Inside the First Stargate AI Data Center How Coach Handbags Became a Gen Z Status Symbol ©2025 Bloomberg L.P. Sign in to access your portfolio
Ya Libnan
21-05-2025
- Business
- Ya Libnan
Apple's lack of innovation is taking a toll, needs another Steve Jobs
Apple's lack of groundbreaking change in the years since Steve Jobs' untimely death is beginning to take a toll that's becoming more and more apparent with each passing quarter. This lack of groundbreaking change has taken a toll. Sales of the iPhone have tapered and are lower than where they were two years ago. The Apple Watch suffered a 14% revenue drop last year, according to analyst estimates. And overall revenue is only slowly picking up again after a stagnant stretch. It's clear that Apple needs something bigger and bolder on the horizon. But the speed of its innovation engine is slower. Whether it's due to the company's larger size, inertia or a cumbersome development process, things have changed: The days of getting frequently redesigned devices and a major new product category every few years are long gone. The timing for this slowdown isn't great. Apple is dealing with a more competitive marketplace than ever, with Chinese players like Huawei Technologies Co. and Xiaomi Corp. popping out innovative new designs like foldable phones. Governments and third-party developers around the world are pressing Apple to rein in its business practices. And now tariffs are threatening its profit margins. The company also can't seem to catch up in artificial intelligence, which will make it even harder to create trailblazing new devices… That said, Apple isn't preordained to be the next BlackBerry, Nokia or Compaq. The company has the resources to evolve, buy up startups that can help it create breakthrough technologies, and design its way into new areas. It's also true that hardware innovation has been a tough challenge for the whole tech industry lately. But Apple is undoubtedly in a lull. Apple's time a having a caretaker CEO to milk products and services conceived and created under Steve Jobs will, hopefully, draw to a close sooner than later. Apple is clearly not as innovative as it was under Steve Jobs who even started the company's work on Apple Watch and Apple Vision Pro, but the company — thanks to Jobs and Cook's subsequent management of iterations of products and services conceived during Jobs' tenure — now has more than enough money to make up for Cook's lack of vision. Tim's not a product person, per se. – Steve Jobs If Apple can manage to train its generative AI in an unbiased way – a big IF – Apple will be just fine in generative AI soon enough. The company has an install base of more than 2.2 billion active devices in the hands of the highest quality customers; even 'good enough' generative AI will be just fine. Anything above and beyond that will just be icing on the cake! Until it gets another visionary leader (fingers crossed; Apple's history has shown – cough, Sculley, Spindler, cough – that the next CEO could be far, far worse than the very competent caretaker Cook), Apple can afford to miss things like generative AI – which they clearly did – and then use its huge war chest to catch up – which they're doing right now (fun times and 80-hour weeks inside Apple Park!) – and, hopefully, surpass rivals (or at least be as good). Apple will very likely unveil their catch-up work within months (this June at WWDC 2024)… – MacDailyNews, February 14, 2024 MAC DAILY NEWS
