U.S. Commerce Secretary Gina Raimondo on March 8 bluntly warned Chinese companies not to contravene trade sanctions against Russia by supplying the belligerent nation with chips and other supplies needed to sustain the war effort against Ukraine. Firms that do not abide by the sanctions can be “essentially shut” down, she said. Raimondo, in an…
US Commerce Secretary Warns Chinese Firms Not to Help Russia Skirt Sanctions
US Small Business Sentiment Drops to Lowest in Over a Year—Survey
U.S. small business confidence fell to the lowest in over a year in February in the face of a wave of inflation that is forcing a record percentage of establishments to raise prices and denting their outlook for the economy, a survey showed on Tuesday. The National Federation of Independent Business said its Small Business…
Pandemic Spurs California Entrepreneurs to Evolve
Roberto Reyes wants to unite the world through used soccer cleats. As winter arrived during the first year of the COVID-19 pandemic, he and his father were cleaning out the garage of their Mission Viejo home in Southern California when they found piles of old soccer shoes. At that time late in 2020, he felt…
Dozens of Companies Pulling Out of Russia After Invasion of Ukraine
Companies that have been doing business in Russia for decades are now streaming out like ants fleeing a disrupted ant hill. Dozens of big-name corporations have announced they will stop sales in Russia, break from joint ventures, or remove themselves from other kinds of business relationships in the country because of the nation’s invasion of…
US Needs Economic Policies That Benefit America, Not China: Rep. Donalds
In the face of growing competition from China and other geopolitical rivals, the United States needs to pursue policies that benefit American industries and consumers, and that do not drive the further offshoring of businesses vital to economic health, according to Rep. Byron Donalds (R-Fla.). From this point of view, one of the most urgent…
CCP’s High-Tech Repression in Xinjiang Calls for Tougher Sanctions: Advocates
February 26, 2022
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The Chinese regime’s aggressive rollout of new technologies to step up its repression of Uyghurs in western China calls for new responses on the part of allied nations outraged at the human rights abuses, said panelists at a recent virtual event hosted by The Brookings Institution think tank. Laura Rosenberger, senior director for China and…
Discovery Stock Falls Post Q4 Results, Clocks 10 Percent Revenue Growth
Discovery Inc. reported fourth-quarter FY21 revenue growth of 10 percent year-on-year to $3.19 billion, beating the consensus of $3.12 billion. It ended Q4 with 22 million Direct-to-Consumer Subscribers and generated nearly $450 million of Next Generation Revenues. Total U.S. Networks revenues increased 14 percent Y/Y to $2.03 billion. Total International Networks revenues increased 5 percent Y/Y to…
ChipMOS Registers 7.6 Percent Revenue Growth in Q4
Outsourced semiconductor assembly and test services provider ChipMOS TECHNOLOGIES Inc. reported a fourth-quarter FY21 revenue growth of 7.6 percent year-on-year to $244.8 million. Revenue decreased by 5.2 percent Q/Q. Net non-operating income grew to $11.5 million, from $5.3 million in Q3 of 2021. Earnings per basic ADS was $1.41, versus $0.68 last year. It held $212.9 million…
German Business Confidence Up Again, but Ukraine Risk Ahead
BERLIN—Business confidence in Germany, Europe’s biggest economy, has picked up for the second month in a row even though the Russia-Ukraine crisis could dampen expectations, a closely-watched survey said Tuesday. The Ifo institute said its monthly confidence index increased in February over the previous month by nearly three points to 98.9. The increase came after…
China Courts Freeze $157 Million of Evergrande Assets Over Missed Construction Payments
HONG KONG—A Chinese court has ordered the freezing of 640.4 million yuan ($101 million) in assets held by a subsidiary of China Evergrande Group, according to a filing by contractor Shanghai Construction Group. State-owned Shanghai Construction, which sued the Evergrande unit in the southwestern city of Chengdu in December for overdue construction fees, cited the…
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