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Chinese tech companies are facing increased risks in expanding overseas as Donald Trump returns to the White House, with expectations of new policies impacting sectors like cross-border e-commerce, video gaming, and artificial intelligence, according to UBS analyst Kenneth Fong. Despite these geopolitical challenges, Chinese firms are likely to continue investing abroad, though they must navigate potential US restrictions on investments in Chinese tech, limitations on AI chip purchases, and the effects of ongoing trade tensions.
Justice Minister Beat Jans urged the media to advocate for their interests amid challenges like cost-cutting, fake news, and AI. He emphasized the importance of serious journalism, warning against prioritizing profit over quality, and called for a counter-movement against misinformation, highlighting the need for financial support through neighboring rights.
South Korean President Yoon Suk Yeol, recently removed from office, vowed to "fight to the end" against what he termed "anti-state forces" as authorities prepared to execute an arrest warrant for him. The warrant follows his refusal to cooperate with an investigation into his brief seizure of power, which has led to political turmoil and a pending decision from the Constitutional Court on his impeachment. Amid heavy police presence, Yoon's supporters gathered outside his residence, while his lawyers challenged the legality of the arrest warrant.
South Korea's antitrust regulator has fined Kakao Mobility $10.5 million for unfairly restricting competitors' access to its dominant taxi-hailing platform, Kakao T, which holds a 96% market share. This penalty is a reduction from an earlier $50.3 million fine due to overestimated profit calculations. Additionally, Kakao Mobility faces a $2.47 million fine from the Financial Services Commission for accounting fraud, with the case referred to prosecutors for further investigation.
The National Defense Authorization Act for fiscal year 2025 extends the commercial spaceflight "learning period" and launch indemnification provisions. The learning period, which limits FAA regulations on commercial human spacecraft, is now extended through 2027, while indemnification for launch damages is extended to September 2028. This move addresses industry concerns over regulatory development and safety practices.
The U.S. House of Representatives is poised to vote on a defense bill that allocates over $3 billion to assist telecom companies in removing Chinese-made equipment from American networks, specifically targeting Huawei and ZTE due to security concerns. The comprehensive 1,800-page bill also mandates a report on China's attempts to circumvent U.S. national security regulations and includes an intelligence assessment of China's biotechnology capabilities.
SpaceX's plan to launch an additional 22,488 Starlink satellites faces opposition from the Ukrainian Congress Committee of America, citing concerns over Elon Musk's ties to Russia and the environmental impact of launches in Texas. The group has filed a petition with the FCC, questioning Musk's potential conflicts of interest due to his new role in the incoming Trump administration and the use of Starlink by Russian forces. Environmental advocates also highlight the risk to endangered species from SpaceX's operations, while Musk's dismissive responses to these concerns have drawn criticism.
McKinsey Africa has agreed to pay $123 million to settle allegations of bribing South African officials to secure consulting contracts between 2012 and 2016. A former senior partner, Vikas Sagar, pleaded guilty to conspiracy to violate the Foreign Corrupt Practices Act, admitting the firm engaged in a long-running bribery scheme that netted approximately $85 million in profits. The subsidiary has entered a three-year deferred prosecution agreement, committing to improve its compliance controls and accept responsibility for its actions.
Vodafone's £15 billion merger with Three has been approved by the UK's competition authority, contingent on significant investment commitments to enhance network capabilities. The companies will also implement mobile tariff caps and provide favorable terms to mobile virtual network operators to address competition concerns. This decision marks a notable shift for the Competition and Markets Authority, which typically advocates for divestitures to maintain market competition.
Norway's sovereign wealth fund, the largest in the world, has divested all its shares in Israel's Bezeq. The decision follows concerns over the company's provision of telecom services to Israeli settlements in the occupied West Bank.
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chinese tech firms face increased risks in overseas expansion amid us policy changes
01:00 14.01.2025
swiss minister urges media to combat fake news and defend journalism
17:14 09.01.2025
south korea's ousted president vows to fight arrest amid political turmoil
06:46 02.01.2025
south korea fines kakao mobility 10.5 million for antitrust violations
20:08 17.12.2024
NDAA Extends Learning Period and Indemnification for Commercial Spaceflight
02:38 08.12.2024
US House to Vote on 3 Billion for Removing Chinese Telecom Equipment
01:07 08.12.2024
Ukrainian Group Opposes SpaceX Starlink Expansion Over Musk's Russia Ties
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02:51 06.12.2024
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21:00 05.12.2024
Vodafone and Three Merger Approved with Investment and Price Commitments
10:09 05.12.2024
norway's wealth fund divests from bezeq over west bank settlements
07:15 04.12.2024
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