A Chinese national pleaded guilty on Tuesday to stealing trade secrets from U.S. petroleum company Phillips 66 , where he worked on the research and development of next generation battery technologies, the U.S. Justice Department said.
A Chinese national pleaded guilty on Tuesday to stealing trade secrets from U.S. petroleum company Phillips 66, where he worked on the research and development of next generation battery technologies, the U.S. Justice Department said. Hongjin Tan, 36, stole information regarding the manufacture of a “research and development downstream energy market product” that is worth more than $1 billion, the department said in a statement. The department identified the company where he worked as Phillips 66 in court documents filed in Oklahoma. …read more […]
President Donald Trump on Tuesday dangled the prospect of completing an initial trade deal with China “soon,” but offered no new details on negotiations in a campaign-style speech touting his administration’s economic record.
When strong growth does not impress investors Continue reading… …read more […]
(Bloomberg) — Apple Inc. plans to debut a new MacBook Pro laptop with a larger screen and revamped keyboard as soon as Wednesday, according to people familiar with the situation. This will be the first major update to the MacBook Pro line since it was redesigned three years ago. The new, brighter screen will come in a 16-inch version, up from the current 15-inch option, said the people, who asked not to be identified discussing unannounced products. The display will likely appeal to video and photo editors, gamers and software developers. The new keyboard is designed to be more reliable. …read more […]
(Bloomberg Opinion) — A crown jewel of President Xi Jinping’s Made in China 2025 plan is faltering.Tsinghua Unigroup Co. is the business arm of the prestigious Tsinghua University, Xi’s alma mater. The company has been trying to establish itself as a leader in China’s nascent memory-chip industry since 2015, when it famously tried to acquire stakes in U.S. rivals Micron Technology Inc. and Western Digital Corp. Both advances were rejected amid concerns that U.S. regulators wouldn’t approve the deals on national-security grounds. Rebuffed abroad, Unigroup resolved to become a domestic champion and poured its resources into developing flash-memory technology. One …read more […]
Trump tells many lies about the economy under his watch. This is the foundational one. …read more […]
U.S. President Donald Trump and Apple CEO Tim Cook are expected to tour facilities in Texas where Apple products are made as soon as next week to showcase companies that keep jobs in America, according to two people familiar with the matter.
U.S. President Donald Trump and Apple CEO Tim Cook are expected to tour facilities in Texas where Apple products are made as soon as next week to showcase companies that keep jobs in America, according to two people familiar with the matter. The trip, which has not yet been announced, would highlight Cook’s strong relationship with Trump as he seeks further relief for Apple from U.S. tariffs on imports from China. Apple declined to comment. …read more […]
At least seven vendors have given Wells Fargo & Co a partial refund for their services after bank executives pressured the contractors to return 2.5% of revenue earned last year, according to sources familiar with the matter.
At least seven vendors have given Wells Fargo & Co a partial refund for their services after bank executives pressured the contractors to return 2.5% of revenue earned last year, according to sources familiar with the matter. Wells Fargo spokesman Peter Gilchrist said participation in the voluntary rebate would not be considered when awarding future contacts. The bank is expected to issue a new request for business proposals from its IT vendors in the first quarter of next year. …read more […]
Global equity markets and the dollar rose on Tuesday as U.S. President Donald Trump reiterated the United States is close to signing a trade deal with China but offered no new details. Stocks on Wall Street set fresh record highs before Trump’s highly anticipated remarks to the Economic Club of New York, but slowly pared some gains after the speech, which contained no major policy announcements. Trump touted his administration’s economic record in a campaign-style speech but did not announce a venue or date for signing a trade deal with Chinese President Xi Jinping as market speculation had …read more […]
SmileDirectClub reports mixed earnings, beating revenue estimates of $165.4 million with $180.2 million for the quarter. …read more […]
Serving airlines that will operate flights lasting 14 hours or longer is a “key consideration” for Boeing Co’s global growth strategy over the next 20 years, an executive said on Tuesday.
(Bloomberg) — Activist investor ValueAct Capital Management is urging Hawaiian Electric Industries Inc. to look outside of the company for a successor to Chief Executive Officer Constance Lau to help the utility accelerate its renewable energy goals.The San Francisco-based hedge fund said in a letter to Hawaiian stakeholders it believes the company has started its succession planning for Lau and is in need of a corporate cultural shift.“The company is at an inflection point where management can be driven either by more of the same inertia or, alternatively, by innovative, forward-looking thinking and action,” ValueAct Chief Executive Officer Jeff Ubben …read more […]
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